PRAAD: 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.
PRAAD
Largest movements
- Current investments +€150,869
new in 2025: €150,869
- Cash -€116,002
down €116,002 (-76.8%), from €151,084 to €35,082
mainly Current investments (-€150,869) and Contributions, distributions and other (-€61,441)
- Tangible fixed assets -€11,463
down €11,463 (-1.7%), from €668,864 to €657,401
of which Land and buildings: -€62,970
- Other debts +€67,379
up €67,379 (+1293.2%), from €5,210 to €72,589
- Reserves -€54,351
down €54,351 (-73.6%), from €73,841 to €19,491
- Contributions +€12,400
up €12,400 (+200.0%), from €6,200 to €18,600
- Debts after one year -€11,892
down €11,892 (-1.7%), from €715,174 to €703,283
- Current portion of long-term debt +€10,666
up €10,666 (+21.8%), from €48,910 to €59,576
- Gross operating margin -€22,125
down €22,125 (-15.0%), from €147,972 to €125,848
- Depreciation +€3,738
up €3,738 (+5.7%), from €65,334 to €69,072
- Taxes -€3,499
down €3,499 (-34.0%), from €10,306 to €6,807
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 | €852,133 | €876,762 | +€24,629 | +2.9% |
| Fixed assets | 21/28 | €668,864 | €657,401 | -€11,463 | -1.7% |
| Tangible fixed assets | 22/27 | €668,864 | €657,401 | -€11,463 | -1.7% |
| Land and buildings | 22 | €658,607 | €595,637 | -€62,970 | -9.6% |
| Plant, machinery and equipment | 23 | €731 | €348 | -€383 | -52.4% |
| Furniture and vehicles | 24 | €9,526 | €13,356 | +€3,830 | +40.2% |
| Leasing and similar rights | 25 | - | €48,060 | +€48,060 | |
| Current assets | 29/58 | €183,269 | €219,361 | +€36,092 | +19.7% |
| Amounts receivable within one year | 40/41 | €28,558 | €33,410 | +€4,852 | +17.0% |
| Trade receivables | 40 | €21,667 | €27,500 | +€5,833 | +26.9% |
| Other amounts receivable | 41 | €6,891 | €5,910 | -€981 | -14.2% |
| Current investments | 50/53 | - | €150,869 | +€150,869 | |
| Cash at bank and in hand | 54/58 | €151,084 | €35,082 | -€116,002 | -76.8% |
| Deferred charges and accrued income | 490/1 | €3,627 | €0 | -€3,627 | -100.0% |
| Total equity and liabilities | 10/49 | €852,133 | €876,762 | +€24,629 | +2.9% |
| Equity | 10/15 | €80,041 | €38,091 | -€41,951 | -52.4% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200.0% |
| Reserves | 13 | €73,841 | €19,491 | -€54,351 | -73.6% |
| Distributable reserves | 133 | €73,841 | €19,491 | -€54,351 | -73.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €772,092 | €838,671 | +€66,580 | +8.6% |
| Amounts payable after more than one year | 17 | €715,174 | €703,283 | -€11,892 | -1.7% |
| Financial debts | 170/4 | €715,174 | €703,283 | -€11,892 | -1.7% |
| Amounts payable within one year | 42/48 | €56,918 | €135,389 | +€78,471 | +137.9% |
| Current portion of amounts payable after more than one year | 42 | €48,910 | €59,576 | +€10,666 | +21.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €2,797 | €917 | -€1,880 | -67.2% |
| Suppliers | 440/4 | €2,797 | €917 | -€1,880 | -67.2% |
| Taxes, remuneration and social security | 45 | €0 | €2,307 | +€2,307 | |
| Taxes | 450/3 | €0 | €2,307 | +€2,307 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €5,210 | €72,589 | +€67,379 | +1293.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,334 | €69,072 | +€3,738 | +5.7% |
| Other operating charges | 640/8 | €10,972 | €10,987 | +€16 | +0.1% |
| Gross operating margin | 9900 | €147,972 | €125,848 | -€22,125 | -15.0% |
| Operating profit (loss) | 9901 | €71,667 | €45,789 | -€25,879 | -36.1% |
| Financial income | 75/76B | - | €869 | +€869 | |
| Recurring financial income | 75 | - | €869 | +€869 | |
| Financial charges | 65/66B | €21,108 | €20,360 | -€748 | -3.5% |
| Recurring financial charges | 65 | €21,108 | €20,360 | -€748 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €50,559 | €26,297 | -€24,262 | -48.0% |
| Income taxes | 67/77 | €10,306 | €6,807 | -€3,499 | -34.0% |
| Profit (loss) for the period | 9904 | €40,253 | €19,491 | -€20,763 | -51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €40,253 | €19,491 | -€20,763 | -51.6% |
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 4 October 2026 via checked.be.