Yann Padova: 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.
Yann Padova
Largest movements
- Deferred charges and accrued income +€261,571
new in 2025: €261,571
- Cash +€104,887
up €104,887 (+26.4%), from €396,586 to €501,474
mainly Net result for the year (+€325,806) and Tax, wage and social debts (+€62,495)
- Financial fixed assets +€37,007
up €37,007 (+286.6%), from €12,912 to €49,919
- Receivables within one year -€12,431
down €12,431 (-39.7%), from €31,282 to €18,851
- Profit (loss) carried forward +€325,806
up €325,806 (+197.3%), from €165,098 to €490,903
- Tax, wage and social debts +€62,495
up €62,495 (+43.6%), from €143,243 to €205,738
of which Taxes: +€62,495
- Other debts +€16,328
new in 2025: €16,328
- Gross operating margin +€356,718
up €356,718 (+226.3%), from €157,663 to €514,381
- Taxes +€94,665
up €94,665 (+624.9%), from €15,149 to €109,814
- Financial charges -€13,628
down €13,628 (-14.4%), from €94,436 to €80,808
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 | €440,780 | €837,816 | +€397,035 | +90.1% |
| Fixed assets | 21/28 | €12,912 | €55,920 | +€43,008 | +333.1% |
| Tangible fixed assets | 22/27 | - | €6,001 | +€6,001 | |
| Furniture and vehicles | 24 | - | €1,135 | +€1,135 | |
| Other tangible fixed assets | 26 | - | €4,866 | +€4,866 | |
| Financial fixed assets | 28 | €12,912 | €49,919 | +€37,007 | +286.6% |
| Current assets | 29/58 | €427,869 | €781,896 | +€354,028 | +82.7% |
| Amounts receivable within one year | 40/41 | €31,282 | €18,851 | -€12,431 | -39.7% |
| Other amounts receivable | 41 | €31,282 | €18,851 | -€12,431 | -39.7% |
| Cash at bank and in hand | 54/58 | €396,586 | €501,474 | +€104,887 | +26.4% |
| Deferred charges and accrued income | 490/1 | - | €261,571 | +€261,571 | |
| Total equity and liabilities | 10/49 | €440,780 | €837,816 | +€397,035 | +90.1% |
| Equity | 10/15 | €256,508 | €582,313 | +€325,806 | +127.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €88,410 | €88,410 | = | 0.0% |
| Tax-exempt reserves | 132 | €88,410 | €88,410 | = | 0.0% |
| Profit (loss) carried forward | 14 | €165,098 | €490,903 | +€325,806 | +197.3% |
| Amounts payable | 17/49 | €184,273 | €255,503 | +€71,230 | +38.7% |
| Amounts payable within one year | 42/48 | €150,693 | €225,826 | +€75,133 | +49.9% |
| Trade debts | 44 | €7,450 | €3,761 | -€3,689 | -49.5% |
| Suppliers | 440/4 | €7,450 | €3,761 | -€3,689 | -49.5% |
| Taxes, remuneration and social security | 45 | €143,243 | €205,738 | +€62,495 | +43.6% |
| Taxes | 450/3 | €143,243 | €205,738 | +€62,495 | +43.6% |
| Remuneration and social security | 454/9 | €0 | - | -€0 | |
| Other amounts payable | 47/48 | - | €16,328 | +€16,328 | |
| Accrued charges and deferred income | 492/3 | €33,580 | €29,676 | -€3,904 | -11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €898 | +€898 | |
| Gross operating margin | 9900 | €157,663 | €514,381 | +€356,718 | +226.3% |
| Operating profit (loss) | 9901 | €157,663 | €513,483 | +€355,819 | +225.7% |
| Financial income | 75/76B | €2,257 | €2,945 | +€688 | +30.5% |
| Recurring financial income | 75 | €2,257 | €2,945 | +€688 | +30.5% |
| Financial charges | 65/66B | €94,436 | €80,808 | -€13,628 | -14.4% |
| Recurring financial charges | 65 | €94,436 | €80,808 | -€13,628 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €65,484 | €435,619 | +€370,135 | +565.2% |
| Income taxes | 67/77 | €15,149 | €109,814 | +€94,665 | +624.9% |
| Profit (loss) for the period | 9904 | €50,335 | €325,806 | +€275,470 | +547.3% |
| Profit (loss) for the period to be appropriated | 9905 | €50,335 | €325,806 | +€275,470 | +547.3% |
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 10 October 2026 via checked.be.