AS PAVAGE: what changed
AS PAVAGE
Largest movements
- Receivables within one year +€15,017
up €15,017 (+1,572%), from €955 to €15,972
of which Trade receivables: +€15,000
- Tangible fixed assets -€13,505
down €13,505 (-28.7%), from €47,119 to €33,614
- Cash +€2,405
up €2,405 (+186%), from €1,292 to €3,697
mainly Depreciation (+€13,959) and Tax, wage and social debts (+€2,321)
- Tax, wage and social debts +€2,321
up €2,321 (+138%), from €1,682 to €4,003
of which Remuneration and social security: +€2,439
- Profit (loss) carried forward +€913
up €913 (+1.9%), from €47,291 to €48,203
- Gross operating margin -€71,576
down €71,576 (-79.8%), from €89,745 to €18,169
- Taxes -€12,979
down €12,979 (-84.1%), from €15,432 to €2,453
- Depreciation -€7,258
down €7,258 (-34.2%), from €21,218 to €13,959
- Other operating charges -€4,920
down €4,920 (-86.3%), from €5,704 to €783
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,973 | €55,207 | +€3,234 | +6.2% |
| Formation expenses | 20 | €1,461 | €1,006 | -€455 | -31.1% |
| Fixed assets | 21/28 | €47,119 | €33,614 | -€13,505 | -28.7% |
| Tangible fixed assets | 22/27 | €47,119 | €33,614 | -€13,505 | -28.7% |
| Furniture and vehicles | 24 | €47,119 | €33,614 | -€13,505 | -28.7% |
| Current assets | 29/58 | €3,394 | €20,587 | +€17,193 | +507% |
| Amounts receivable within one year | 40/41 | €955 | €15,972 | +€15,017 | +1,572% |
| Trade receivables | 40 | - | €15,000 | +€15,000 | |
| Other amounts receivable | 41 | €955 | €972 | +€17 | +1.8% |
| Cash at bank and in hand | 54/58 | €1,292 | €3,697 | +€2,405 | +186% |
| Deferred charges and accrued income | 490/1 | €1,147 | €917 | -€230 | -20.0% |
| Total equity and liabilities | 10/49 | €51,973 | €55,207 | +€3,234 | +6.2% |
| Equity | 10/15 | €50,291 | €51,203 | +€913 | +1.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,291 | €48,203 | +€913 | +1.9% |
| Amounts payable | 17/49 | €1,682 | €4,003 | +€2,321 | +138% |
| Amounts payable within one year | 42/48 | €1,682 | €4,003 | +€2,321 | +138% |
| Taxes, remuneration and social security | 45 | €1,682 | €4,003 | +€2,321 | +138% |
| Taxes | 450/3 | €1,682 | €1,564 | -€118 | -7.0% |
| Remuneration and social security | 454/9 | - | €2,439 | +€2,439 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,218 | €13,959 | -€7,258 | -34.2% |
| Other operating charges | 640/8 | €5,704 | €783 | -€4,920 | -86.3% |
| Gross operating margin | 9900 | €89,745 | €18,169 | -€71,576 | -79.8% |
| Operating profit (loss) | 9901 | €62,823 | €3,426 | -€59,397 | -94.5% |
| Financial charges | 65/66B | €100 | €60 | -€40 | -40.0% |
| Recurring financial charges | 65 | €100 | €60 | -€40 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €62,723 | €3,366 | -€59,357 | -94.6% |
| Income taxes | 67/77 | €15,432 | €2,453 | -€12,979 | -84.1% |
| Profit (loss) for the period | 9904 | €47,291 | €913 | -€46,378 | -98.1% |
| Profit (loss) for the period to be appropriated | 9905 | €47,291 | €913 | -€46,378 | -98.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.