PATRIGOL: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
PATRIGOL
Largest movements
- Tangible fixed assets +€2.0m
up €2.0m (+2,481%), from €80,979 to €2.1m
of which Other tangible fixed assets: +€2.0m
- Current investments -€104,208
down €104,208 (-6.0%), from €1.7m to €1.6m
- Cash -€41,736
down €41,736 (-29.6%), from €141,127 to €99,391
mainly Investment in fixed assets (net) (-€2.0m) and Other debts (-€141,753)
- Revaluation surpluses +€2.0m
new in 2025: €2.0m
- Other debts -€141,753
down €141,753 (-61.6%), from €230,263 to €88,510
- Financial charges -€11,780
down €11,780 (-35.4%), from €33,314 to €21,533
- Gross operating margin -€11,239
down €11,239 (-1,882%), from -€597 to -€11,836
- Financial income -€11,204
down €11,204 (-20.1%), from €55,703 to €44,499
- Depreciation -€3,869
down €3,869 (-16.3%), from €23,715 to €19,846
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,004,798 | €3,878,256 | +€1.9m | +93.4% |
| Fixed assets | 21/28 | €83,411 | €2,092,935 | +€2.0m | +2,409% |
| Tangible fixed assets | 22/27 | €80,979 | €2,090,259 | +€2.0m | +2,481% |
| Plant, machinery and equipment | 23 | €3,074 | €2,001 | -€1,073 | -34.9% |
| Furniture and vehicles | 24 | €5,659 | €257 | -€5,402 | -95.5% |
| Other tangible fixed assets | 26 | €72,247 | €2,088,000 | +€2.0m | +2,790% |
| Financial fixed assets | 28 | €2,432 | €2,676 | +€245 | +10.1% |
| Current assets | 29/58 | €1,921,387 | €1,785,321 | -€136,065 | -7.1% |
| Amounts receivable within one year | 40/41 | €33,519 | €33,002 | -€517 | -1.5% |
| Trade receivables | 40 | - | €252 | +€252 | |
| Other amounts receivable | 41 | €33,519 | €32,750 | -€769 | -2.3% |
| Current investments | 50/53 | €1,742,449 | €1,638,241 | -€104,208 | -6.0% |
| Cash at bank and in hand | 54/58 | €141,127 | €99,391 | -€41,736 | -29.6% |
| Deferred charges and accrued income | 490/1 | €4,292 | €14,687 | +€10,395 | +242% |
| Total equity and liabilities | 10/49 | €2,004,798 | €3,878,256 | +€1.9m | +93.4% |
| Equity | 10/15 | €1,768,497 | €3,782,921 | +€2.0m | +114% |
| Contributions | 10/11 | €830,000 | €830,000 | = | 0.0% |
| Capital | 10 | €830,000 | €830,000 | = | 0.0% |
| Issued capital | 100 | €830,000 | €830,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €2,029,126 | +€2.0m | |
| Reserves | 13 | €938,497 | €923,795 | -€14,701 | -1.6% |
| Non-distributable reserves | 130/1 | €83,000 | €83,000 | = | 0.0% |
| Legal reserve | 130 | €83,000 | €83,000 | = | 0.0% |
| Distributable reserves | 133 | €855,497 | €840,795 | -€14,701 | -1.7% |
| Amounts payable | 17/49 | €236,301 | €95,335 | -€140,966 | -59.7% |
| Amounts payable within one year | 42/48 | €235,007 | €94,476 | -€140,532 | -59.8% |
| Trade debts | 44 | €995 | €2,753 | +€1,758 | +177% |
| Suppliers | 440/4 | €995 | €2,753 | +€1,758 | +177% |
| Taxes, remuneration and social security | 45 | €3,750 | €3,213 | -€537 | -14.3% |
| Taxes | 450/3 | €3,750 | €3,213 | -€537 | -14.3% |
| Other amounts payable | 47/48 | €230,263 | €88,510 | -€141,753 | -61.6% |
| Accrued charges and deferred income | 492/3 | €1,294 | €860 | -€434 | -33.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,715 | €19,846 | -€3,869 | -16.3% |
| Other operating charges | 640/8 | €5,405 | €5,319 | -€85 | -1.6% |
| Gross operating margin | 9900 | -€597 | -€11,836 | -€11,239 | -1,882% |
| Operating profit (loss) | 9901 | -€29,717 | -€37,002 | -€7,285 | -24.5% |
| Financial income | 75/76B | €55,703 | €44,499 | -€11,204 | -20.1% |
| Recurring financial income | 75 | €55,703 | €44,499 | -€11,204 | -20.1% |
| Financial charges | 65/66B | €33,314 | €21,533 | -€11,780 | -35.4% |
| Recurring financial charges | 65 | €33,314 | €21,533 | -€11,780 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,328 | -€14,037 | -€6,708 | -91.5% |
| Income taxes | 67/77 | €679 | €665 | -€14 | -2.1% |
| Profit (loss) for the period | 9904 | -€8,007 | -€14,701 | -€6,694 | -83.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,007 | -€14,701 | -€6,694 | -83.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.