PRADEL: 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.
PRADEL
Largest movements
- Tangible fixed assets +€465,332
up €465,332 (+22.0%), from €2.1m to €2.6m
of which Assets under construction and advance payments: +€527,156
- Receivables after one year -€135,652
no longer reported in 2024 (was €135,652)
- Cash +€38,966
up €38,966 (+2496.8%), from €1,561 to €40,526
mainly Short-term financial debts (+€331,455) and Receivables after one year (+€135,652)
- Short-term financial debts +€331,455
up €331,455 (+1787.3%), from €18,545 to €350,000
- Reserves +€113,928
up €113,928 (+393.5%), from €28,951 to €142,879
of which Tax-exempt reserves: +€113,928
- Trade debts -€91,478
down €91,478 (-70.5%), from €129,702 to €38,224
- Debts after one year -€86,843
down €86,843 (-7.0%), from €1.2m to €1.1m
of which Financial debts: -€89,983
- Other debts +€78,260
up €78,260 (+21.5%), from €364,739 to €442,999
- Gross operating margin +€142,008
up €142,008 (+119.6%), from €118,741 to €260,749
- Financial charges +€42,969
up €42,969 (+455.0%), from €9,444 to €52,413
- Taxes -€8,236
no longer reported in 2024 (was €8,236)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,277,129 | €2,641,283 | +€364,154 | +16.0% |
| Fixed assets | 21/28 | €2,110,640 | €2,575,972 | +€465,332 | +22.0% |
| Tangible fixed assets | 22/27 | €2,110,640 | €2,575,972 | +€465,332 | +22.0% |
| Land and buildings | 22 | €1,010,657 | €949,163 | -€61,494 | -6.1% |
| Plant, machinery and equipment | 23 | €762 | €476 | -€286 | -37.6% |
| Furniture and vehicles | 24 | €43 | - | -€43 | |
| Assets under construction and advance payments | 27 | €1,099,177 | €1,626,333 | +€527,156 | +48.0% |
| Current assets | 29/58 | €166,489 | €65,311 | -€101,178 | -60.8% |
| Amounts receivable after more than one year | 29 | €135,652 | - | -€135,652 | |
| Other amounts receivable | 291 | €135,652 | - | -€135,652 | |
| Amounts receivable within one year | 40/41 | €11,600 | €9,357 | -€2,242 | -19.3% |
| Trade receivables | 40 | €11,600 | €9,357 | -€2,242 | -19.3% |
| Cash at bank and in hand | 54/58 | €1,561 | €40,526 | +€38,966 | +2496.8% |
| Deferred charges and accrued income | 490/1 | €17,676 | €15,427 | -€2,249 | -12.7% |
| Total equity and liabilities | 10/49 | €2,277,129 | €2,641,283 | +€364,154 | +16.0% |
| Equity | 10/15 | €421,694 | €510,955 | +€89,262 | +21.2% |
| Contributions | 10/11 | €235,674 | €235,674 | = | 0.0% |
| Capital | 10 | €235,674 | €235,674 | = | 0.0% |
| Issued capital | 100 | €235,674 | €235,674 | = | 0.0% |
| Reserves | 13 | €28,951 | €142,879 | +€113,928 | +393.5% |
| Non-distributable reserves | 130/1 | €23,567 | €23,567 | = | 0.0% |
| Legal reserve | 130 | €23,567 | €23,567 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,383 | €119,312 | +€113,928 | +2116.4% |
| Profit (loss) carried forward | 14 | €157,069 | €132,402 | -€24,667 | -15.7% |
| Provisions and deferred taxes | 16 | €1,794 | €39,771 | +€37,976 | +2116.4% |
| Deferred taxes | 168 | €1,794 | €39,771 | +€37,976 | +2116.4% |
| Amounts payable | 17/49 | €1,853,641 | €2,090,557 | +€236,917 | +12.8% |
| Amounts payable after more than one year | 17 | €1,235,759 | €1,148,916 | -€86,843 | -7.0% |
| Financial debts | 170/4 | €1,235,759 | €1,145,776 | -€89,983 | -7.3% |
| Other amounts payable | 178/9 | - | €3,140 | +€3,140 | |
| Amounts payable within one year | 42/48 | €615,298 | €933,267 | +€317,969 | +51.7% |
| Current portion of amounts payable after more than one year | 42 | €94,162 | €93,894 | -€267 | -0.3% |
| Financial debts | 43 | €18,545 | €350,000 | +€331,455 | +1787.3% |
| Credit institutions | 430/8 | €18,545 | €350,000 | +€331,455 | +1787.3% |
| Trade debts | 44 | €129,702 | €38,224 | -€91,478 | -70.5% |
| Suppliers | 440/4 | €129,702 | €38,224 | -€91,478 | -70.5% |
| Taxes, remuneration and social security | 45 | €8,150 | €8,150 | = | 0.0% |
| Taxes | 450/3 | €8,150 | €8,150 | = | 0.0% |
| Other amounts payable | 47/48 | €364,739 | €442,999 | +€78,260 | +21.5% |
| Accrued charges and deferred income | 492/3 | €2,584 | €8,374 | +€5,791 | +224.1% |
| Non-recurring operating income | 76A | - | €164,763 | +€164,763 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,181 | €58,401 | -€1,780 | -3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,350 | -€2,951 | -€601 | -25.6% |
| Other operating charges | 640/8 | €23,461 | €25,651 | +€2,190 | +9.3% |
| Gross operating margin | 9900 | €118,741 | €260,749 | +€142,008 | +119.6% |
| Operating profit (loss) | 9901 | €37,449 | €179,649 | +€142,200 | +379.7% |
| Financial income | 75/76B | €17 | €2 | -€15 | -90.9% |
| Recurring financial income | 75 | €17 | €2 | -€15 | -90.9% |
| Financial charges | 65/66B | €9,444 | €52,413 | +€42,969 | +455.0% |
| Recurring financial charges | 65 | €9,444 | €52,413 | +€42,969 | +455.0% |
| Profit (loss) for the period before taxes | 9903 | €28,022 | €127,238 | +€99,216 | +354.1% |
| Transfer from deferred taxes | 780 | €598 | €598 | = | 0.0% |
| Transfer to deferred taxes | 680 | - | €38,574 | +€38,574 | |
| Income taxes | 67/77 | €8,236 | - | -€8,236 | |
| Profit (loss) for the period | 9904 | €20,384 | €89,262 | +€68,877 | +337.9% |
| Transfer from tax-exempt reserves | 789 | €1,794 | €1,794 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €115,723 | +€115,723 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,179 | -€24,667 | -€46,845 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.