A PALUDE: 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.
A PALUDE
Largest movements
- Receivables within one year -€64,076
down €64,076 (-49.5%), from €129,347 to €65,271
of which Trade receivables: -€73,620
- Tangible fixed assets +€11,225
new in 2025: €11,225
- Debts after one year -€44,182
down €44,182 (-18.2%), from €242,859 to €198,677
- Tax, wage and social debts -€33,429
down €33,429 (-68.9%), from €48,525 to €15,096
- Reserves +€24,562
up €24,562 (+4.7%), from €520,832 to €545,394
of which Distributable reserves: +€24,562
- Gross operating margin +€11,228
up €11,228 (+28.2%), from €39,880 to €51,107
- Depreciation +€5,270
new in 2025: €5,270
- Taxes +€3,183
up €3,183 (+43.8%), from €7,273 to €10,456
- Other operating charges -€2,194
down €2,194 (-55.9%), from €3,928 to €1,734
- Financial charges -€1,867
down €1,867 (-20.2%), from €9,234 to €7,367
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.
Derived cash bridge
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 | €934,249 | €880,917 | -€53,332 | -5.7% |
| Fixed assets | 21/28 | €800,000 | €811,225 | +€11,225 | +1.4% |
| Tangible fixed assets | 22/27 | - | €11,225 | +€11,225 | |
| Furniture and vehicles | 24 | - | €11,225 | +€11,225 | |
| Financial fixed assets | 28 | €800,000 | €800,000 | = | 0.0% |
| Current assets | 29/58 | €134,249 | €69,692 | -€64,557 | -48.1% |
| Amounts receivable within one year | 40/41 | €129,347 | €65,271 | -€64,076 | -49.5% |
| Trade receivables | 40 | €121,620 | €48,000 | -€73,620 | -60.5% |
| Other amounts receivable | 41 | €7,727 | €17,271 | +€9,544 | +124% |
| Cash at bank and in hand | 54/58 | €401 | €440 | +€38 | +9.5% |
| Deferred charges and accrued income | 490/1 | €4,501 | €3,981 | -€519 | -11.5% |
| Total equity and liabilities | 10/49 | €934,249 | €880,917 | -€53,332 | -5.7% |
| Equity | 10/15 | €521,832 | €546,394 | +€24,562 | +4.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €520,832 | €545,394 | +€24,562 | +4.7% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €520,732 | €545,294 | +€24,562 | +4.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €412,417 | €334,523 | -€77,894 | -18.9% |
| Amounts payable after more than one year | 17 | €242,859 | €198,677 | -€44,182 | -18.2% |
| Financial debts | 170/4 | €242,859 | €198,677 | -€44,182 | -18.2% |
| Amounts payable within one year | 42/48 | €160,699 | €131,198 | -€29,502 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €43,474 | €44,182 | +€708 | +1.6% |
| Trade debts | 44 | €780 | €4,417 | +€3,637 | +466% |
| Suppliers | 440/4 | €780 | €4,417 | +€3,637 | +466% |
| Taxes, remuneration and social security | 45 | €48,525 | €15,096 | -€33,429 | -68.9% |
| Taxes | 450/3 | €48,525 | €15,096 | -€33,429 | -68.9% |
| Other amounts payable | 47/48 | €67,920 | €67,502 | -€418 | -0.6% |
| Accrued charges and deferred income | 492/3 | €8,859 | €4,649 | -€4,210 | -47.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,270 | +€5,270 | |
| Other operating charges | 640/8 | €3,928 | €1,734 | -€2,194 | -55.9% |
| Gross operating margin | 9900 | €39,880 | €51,107 | +€11,228 | +28.2% |
| Operating profit (loss) | 9901 | €35,951 | €44,103 | +€8,152 | +22.7% |
| Financial income | 75/76B | €2 | €0 | -€2 | -100% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -100% |
| Financial charges | 65/66B | €9,234 | €7,367 | -€1,867 | -20.2% |
| Recurring financial charges | 65 | €9,234 | €7,367 | -€1,867 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €26,719 | €36,736 | +€10,017 | +37.5% |
| Income taxes | 67/77 | €7,273 | €10,456 | +€3,183 | +43.8% |
| Profit (loss) for the period | 9904 | €19,446 | €26,280 | +€6,834 | +35.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,446 | €26,280 | +€6,834 | +35.1% |
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 18 October 2026 via checked.be.