PATRIGU: what changed
Two fiscal 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.
PATRIGU
Largest movements
- Receivables within one year -€243,183
down €243,183 (-65.8%), from €369,441 to €126,258
of which Other amounts receivable: -€198,524
- Cash +€230,778
up €230,778 (+37.4%), from €616,280 to €847,059
mainly Receivables within one year (+€243,183) and Receivables after one year (+€33,333)
- Receivables after one year -€33,333
down €33,333 (-100.0%), from €33,333 to €0
- Reserves -€36,609
down €36,609 (-3.0%), from €1.2m to €1.2m
of which Distributable reserves: -€36,609
- Gross operating margin -€78,526
down €78,526 (-61.6%), from €127,395 to €48,869
- Taxes -€21,104
down €21,104 (-66.6%), from €31,673 to €10,569
- Other operating charges -€4,069
down €4,069 (-52.6%), from €7,738 to €3,669
- Financial income +€1,759
up €1,759 (+1818.0%), from €97 to €1,855
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.
Cash bridge derived
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 | €1,322,922 | €1,280,506 | -€42,417 | -3.2% |
| Fixed assets | 21/28 | €293,963 | €291,888 | -€2,076 | -0.7% |
| Tangible fixed assets | 22/27 | €286,060 | €283,984 | -€2,076 | -0.7% |
| Land and buildings | 22 | €254,420 | €251,348 | -€3,073 | -1.2% |
| Plant, machinery and equipment | 23 | €5,002 | €4,274 | -€729 | -14.6% |
| Furniture and vehicles | 24 | €7,184 | €16,503 | +€9,320 | +129.7% |
| Other tangible fixed assets | 26 | €19,454 | €11,860 | -€7,594 | -39.0% |
| Financial fixed assets | 28 | €7,903 | €7,903 | = | 0.0% |
| Current assets | 29/58 | €1,028,959 | €988,618 | -€40,341 | -3.9% |
| Amounts receivable after more than one year | 29 | €33,333 | €0 | -€33,333 | -100.0% |
| Other amounts receivable | 291 | €33,333 | €0 | -€33,333 | -100.0% |
| Amounts receivable within one year | 40/41 | €369,441 | €126,258 | -€243,183 | -65.8% |
| Trade receivables | 40 | €52,682 | €8,024 | -€44,658 | -84.8% |
| Other amounts receivable | 41 | €316,759 | €118,234 | -€198,524 | -62.7% |
| Current investments | 50/53 | €9,845 | €9,836 | -€9 | -0.1% |
| Cash at bank and in hand | 54/58 | €616,280 | €847,059 | +€230,778 | +37.4% |
| Deferred charges and accrued income | 490/1 | €60 | €5,466 | +€5,406 | +9009.5% |
| Total equity and liabilities | 10/49 | €1,322,922 | €1,280,506 | -€42,417 | -3.2% |
| Equity | 10/15 | €1,290,920 | €1,254,311 | -€36,609 | -2.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,217,440 | €1,180,831 | -€36,609 | -3.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,275 | €16,275 | = | 0.0% |
| Distributable reserves | 133 | €1,195,015 | €1,158,407 | -€36,609 | -3.1% |
| Profit (loss) carried forward | 14 | €9,292 | €9,292 | = | 0.0% |
| Investment grants | 15 | €2,688 | €2,688 | = | 0.0% |
| Provisions and deferred taxes | 16 | €1,261 | €1,261 | = | 0.0% |
| Deferred taxes | 168 | €1,261 | €1,261 | = | 0.0% |
| Amounts payable | 17/49 | €30,742 | €24,934 | -€5,808 | -18.9% |
| Amounts payable within one year | 42/48 | €25,696 | €24,888 | -€808 | -3.1% |
| Trade debts | 44 | €11,291 | €12,045 | +€754 | +6.7% |
| Suppliers | 440/4 | €11,291 | €12,045 | +€754 | +6.7% |
| Taxes, remuneration and social security | 45 | €13,785 | €12,223 | -€1,562 | -11.3% |
| Taxes | 450/3 | €13,785 | €12,223 | -€1,562 | -11.3% |
| Other amounts payable | 47/48 | €620 | €620 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €5,046 | €46 | -€5,000 | -99.1% |
| Non-recurring operating income | 76A | €7,298 | €0 | -€7,298 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,031 | €19,993 | -€39 | -0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€16 | €0 | +€16 | |
| Other operating charges | 640/8 | €7,738 | €3,669 | -€4,069 | -52.6% |
| Gross operating margin | 9900 | €127,395 | €48,869 | -€78,526 | -61.6% |
| Operating profit (loss) | 9901 | €99,641 | €25,207 | -€74,434 | -74.7% |
| Financial income | 75/76B | €97 | €1,855 | +€1,759 | +1818.0% |
| Recurring financial income | 75 | €97 | €1,855 | +€1,759 | +1818.0% |
| Financial charges | 65/66B | €2,261 | €3,102 | +€841 | +37.2% |
| Recurring financial charges | 65 | €2,261 | €3,102 | +€841 | +37.2% |
| Profit (loss) for the period before taxes | 9903 | €97,477 | €23,960 | -€73,517 | -75.4% |
| Income taxes | 67/77 | €31,673 | €10,569 | -€21,104 | -66.6% |
| Profit (loss) for the period | 9904 | €65,804 | €13,391 | -€52,413 | -79.7% |
| Profit (loss) for the period to be appropriated | 9905 | €65,804 | €13,391 | -€52,413 | -79.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.