PRADO: 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.
PRADO
Largest movements
- Tangible fixed assets +€255,600
up €255,600 (+24.7%), from €1.0m to €1.3m
of which Land and buildings: +€259,748
- Cash -€251,788
down €251,788 (-84.7%), from €297,284 to €45,496
mainly Investment in fixed assets (net) (-€291,117) and Net result for the year (-€26,288)
- Reserves -€121,995
down €121,995 (-10.8%), from €1.1m to €1.0m
of which Distributable reserves: -€108,006
- Profit (loss) carried forward +€87,808
no longer reported in 2025 (was -€87,808)
- Other debts +€46,686
up €46,686 (+522.4%), from €8,937 to €55,623
- Gross operating margin -€19,392
down €19,392 (-96.0%), from €20,203 to €812
- Financial income -€2,746
down €2,746 (-100.0%), from €2,746 to €0
- Other operating charges +€228
up €228 (+4.9%), from €4,674 to €4,901
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 | €1,333,636 | €1,337,458 | +€3,822 | +0.3% |
| Fixed assets | 21/28 | €1,035,072 | €1,290,672 | +€255,600 | +24.7% |
| Tangible fixed assets | 22/27 | €1,035,072 | €1,290,672 | +€255,600 | +24.7% |
| Land and buildings | 22 | €1,017,185 | €1,276,933 | +€259,748 | +25.5% |
| Plant, machinery and equipment | 23 | €13,430 | €10,051 | -€3,379 | -25.2% |
| Furniture and vehicles | 24 | €4,457 | €3,688 | -€768 | -17.2% |
| Current assets | 29/58 | €298,564 | €46,786 | -€251,778 | -84.3% |
| Cash at bank and in hand | 54/58 | €297,284 | €45,496 | -€251,788 | -84.7% |
| Deferred charges and accrued income | 490/1 | €1,280 | €1,290 | +€9 | +0.7% |
| Total equity and liabilities | 10/49 | €1,333,636 | €1,337,458 | +€3,822 | +0.3% |
| Equity | 10/15 | €1,101,033 | €1,066,846 | -€34,187 | -3.1% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €1,126,868 | €1,004,873 | -€121,995 | -10.8% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €603,035 | €589,047 | -€13,989 | -2.3% |
| Distributable reserves | 133 | €517,635 | €409,629 | -€108,006 | -20.9% |
| Profit (loss) carried forward | 14 | -€87,808 | - | +€87,808 | |
| Provisions and deferred taxes | 16 | €220,119 | €214,560 | -€5,559 | -2.5% |
| Deferred taxes | 168 | €220,119 | €214,560 | -€5,559 | -2.5% |
| Amounts payable | 17/49 | €12,484 | €56,052 | +€43,568 | +349.0% |
| Amounts payable within one year | 42/48 | €12,484 | €56,052 | +€43,568 | +349.0% |
| Trade debts | 44 | €3,547 | €429 | -€3,118 | -87.9% |
| Suppliers | 440/4 | €3,547 | €429 | -€3,118 | -87.9% |
| Other amounts payable | 47/48 | €8,937 | €55,623 | +€46,686 | +522.4% |
| Non-recurring operating income | 76A | €8,400 | - | -€8,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,669 | €35,517 | -€152 | -0.4% |
| Other operating charges | 640/8 | €4,674 | €4,901 | +€228 | +4.9% |
| Gross operating margin | 9900 | €20,203 | €812 | -€19,392 | -96.0% |
| Operating profit (loss) | 9901 | -€20,139 | -€39,606 | -€19,467 | -96.7% |
| Financial income | 75/76B | €2,746 | €0 | -€2,746 | -100.0% |
| Recurring financial income | 75 | €2,746 | €0 | -€2,746 | -100.0% |
| Financial charges | 65/66B | €140 | €140 | = | 0.0% |
| Recurring financial charges | 65 | €140 | €140 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€17,533 | -€39,746 | -€22,213 | -126.7% |
| Transfer from deferred taxes | 780 | €5,192 | €13,459 | +€8,267 | +159.2% |
| Profit (loss) for the period | 9904 | -€12,341 | -€26,288 | -€13,947 | -113.0% |
| Transfer from tax-exempt reserves | 789 | €12,887 | €6,089 | -€6,798 | -52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €546 | -€20,198 | -€20,744 |
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 2 October 2026 via checked.be.