ALL PAVAGE: 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.
ALL PAVAGE
Largest movements
- Tangible fixed assets +€46,095
up €46,095 (+309%), from €14,909 to €61,004
of which Furniture and vehicles: +€48,202
- Current investments +€13,778
new in 2025: €13,778
- Receivables within one year +€12,713
up €12,713 (+16.5%), from €77,064 to €89,777
of which Trade receivables: +€29,466
- Cash -€6,975
no longer reported in 2025 (was €6,975)
mainly Investment in fixed assets (net) (-€63,808) and Current investments (-€13,778)
- Debts after one year +€36,774
up €36,774 (+339%), from €10,852 to €47,627
- Tax, wage and social debts +€12,661
up €12,661 (+208%), from €6,083 to €18,744
of which Remuneration and social security: +€14,884
- Current portion of long-term debt +€12,240
up €12,240 (+240%), from €5,095 to €17,335
- Profit (loss) carried forward +€4,662
up €4,662 (+107%), from €4,349 to €9,011
- Turnover +€102,436
up €102,436 (+50.5%), from €202,767 to €305,203
- Staff costs +€72,396
up €72,396 (+108%), from €66,856 to €139,252
- Gross operating margin +€69,241
up €69,241 (+69.7%), from €99,403 to €168,644
- Purchases and services +€33,195
up €33,195 (+32.1%), from €103,364 to €136,558
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 | €98,947 | €164,558 | +€65,611 | +66.3% |
| Fixed assets | 21/28 | €14,909 | €61,004 | +€46,095 | +309% |
| Tangible fixed assets | 22/27 | €14,909 | €61,004 | +€46,095 | +309% |
| Plant, machinery and equipment | 23 | €2,889 | €783 | -€2,106 | -72.9% |
| Furniture and vehicles | 24 | €12,020 | €60,221 | +€48,202 | +401% |
| Current assets | 29/58 | €84,039 | €103,555 | +€19,516 | +23.2% |
| Amounts receivable within one year | 40/41 | €77,064 | €89,777 | +€12,713 | +16.5% |
| Trade receivables | 40 | €48,649 | €78,115 | +€29,466 | +60.6% |
| Other amounts receivable | 41 | €28,415 | €11,662 | -€16,753 | -59.0% |
| Current investments | 50/53 | - | €13,778 | +€13,778 | |
| Cash at bank and in hand | 54/58 | €6,975 | - | -€6,975 | |
| Total equity and liabilities | 10/49 | €98,947 | €164,558 | +€65,611 | +66.3% |
| Equity | 10/15 | €64,218 | €68,880 | +€4,662 | +7.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €54,870 | €54,870 | = | 0.0% |
| Distributable reserves | 133 | €54,870 | €54,870 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,349 | €9,011 | +€4,662 | +107% |
| Amounts payable | 17/49 | €34,729 | €95,678 | +€60,949 | +175% |
| Amounts payable after more than one year | 17 | €10,852 | €47,627 | +€36,774 | +339% |
| Financial debts | 170/4 | €10,852 | €47,627 | +€36,774 | +339% |
| Amounts payable within one year | 42/48 | €23,877 | €48,051 | +€24,175 | +101% |
| Current portion of amounts payable after more than one year | 42 | €5,095 | €17,335 | +€12,240 | +240% |
| Trade debts | 44 | €12,699 | €11,972 | -€727 | -5.7% |
| Suppliers | 440/4 | €12,699 | €11,972 | -€727 | -5.7% |
| Taxes, remuneration and social security | 45 | €6,083 | €18,744 | +€12,661 | +208% |
| Taxes | 450/3 | €6,083 | €3,860 | -€2,223 | -36.5% |
| Remuneration and social security | 454/9 | - | €14,884 | +€14,884 | |
| Turnover | 70 | €202,767 | €305,203 | +€102,436 | +50.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €103,364 | €136,558 | +€33,195 | +32.1% |
| Remuneration, social security and pensions | 62 | €66,856 | €139,252 | +€72,396 | +108% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,158 | €17,713 | +€555 | +3.2% |
| Other operating charges | 640/8 | €1,861 | €937 | -€925 | -49.7% |
| Gross operating margin | 9900 | €99,403 | €168,644 | +€69,241 | +69.7% |
| Operating profit (loss) | 9901 | €13,528 | €10,742 | -€2,785 | -20.6% |
| Financial income | 75/76B | €0 | €7 | +€7 | +17,375% |
| Recurring financial income | 75 | €0 | €7 | +€7 | +17,375% |
| Financial charges | 65/66B | €2,929 | €3,477 | +€548 | +18.7% |
| Recurring financial charges | 65 | €2,929 | €3,477 | +€548 | +18.7% |
| Profit (loss) for the period before taxes | 9903 | €10,599 | €7,273 | -€3,326 | -31.4% |
| Income taxes | 67/77 | €729 | €2,611 | +€1,882 | +258% |
| Profit (loss) for the period | 9904 | €9,870 | €4,662 | -€5,208 | -52.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,870 | €4,662 | -€5,208 | -52.8% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.