DE PAS: 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.
DE PAS
Largest movements
- Receivables within one year -€106,756
down €106,756 (-75.8%), from €140,804 to €34,048
of which Trade receivables: -€110,730
- Profit (loss) carried forward -€176,673
down €176,673 (-60.6%), from -€291,324 to -€467,996
- Trade debts +€59,027
up €59,027 (+54.7%), from €107,861 to €166,889
- Short-term financial debts +€30,137
up €30,137 (+65.6%), from €45,960 to €76,097
of which Credit institutions: +€76,097
- Other debts -€18,548
down €18,548 (-20.5%), from €90,610 to €72,062
- Gross operating margin -€154,319
down €154,319, from €69,005 to -€85,315
- Financial charges -€9,380
down €9,380 (-38.4%), from €24,405 to €15,025
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 | €145,849 | €39,793 | -€106,056 | -72.7% |
| Fixed assets | 21/28 | €4,540 | €4,540 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Land and buildings | 22 | €0 | - | = | |
| Financial fixed assets | 28 | €4,540 | €4,540 | = | 0.0% |
| Current assets | 29/58 | €141,309 | €35,253 | -€106,056 | -75.1% |
| Amounts receivable within one year | 40/41 | €140,804 | €34,048 | -€106,756 | -75.8% |
| Trade receivables | 40 | €132,940 | €22,211 | -€110,730 | -83.3% |
| Other amounts receivable | 41 | €7,864 | €11,838 | +€3,974 | +50.5% |
| Cash at bank and in hand | 54/58 | €505 | €1,204 | +€699 | +138.6% |
| Total equity and liabilities | 10/49 | €145,849 | €39,793 | -€106,056 | -72.7% |
| Equity | 10/15 | -€98,583 | -€275,256 | -€176,673 | -179.2% |
| Contributions | 10/11 | €190,880 | €190,880 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€291,324 | -€467,996 | -€176,673 | -60.6% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €244,432 | €315,048 | +€70,617 | +28.9% |
| Amounts payable within one year | 42/48 | €244,432 | €315,048 | +€70,617 | +28.9% |
| Financial debts | 43 | €45,960 | €76,097 | +€30,137 | +65.6% |
| Credit institutions | 430/8 | €0 | €76,097 | +€76,097 | |
| Other loans | 439 | €45,960 | €0 | -€45,960 | -100.0% |
| Trade debts | 44 | €107,861 | €166,889 | +€59,027 | +54.7% |
| Suppliers | 440/4 | €107,861 | €166,889 | +€59,027 | +54.7% |
| Other amounts payable | 47/48 | €90,610 | €72,062 | -€18,548 | -20.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €414 | €0 | -€414 | -100.0% |
| Other operating charges | 640/8 | €519 | €313 | -€206 | -39.7% |
| Non-recurring operating charges | 66A | €45,953 | €76,114 | +€30,161 | +65.6% |
| Gross operating margin | 9900 | €69,005 | -€85,315 | -€154,319 | |
| Operating profit (loss) | 9901 | €22,119 | -€161,741 | -€183,860 | |
| Financial income | 75/76B | €27 | €93 | +€67 | +248.3% |
| Recurring financial income | 75 | €27 | €93 | +€67 | +248.3% |
| Financial charges | 65/66B | €24,405 | €15,025 | -€9,380 | -38.4% |
| Recurring financial charges | 65 | €24,405 | €15,025 | -€9,380 | -38.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,259 | -€176,673 | -€174,414 | -7720.8% |
| Profit (loss) for the period | 9904 | -€2,259 | -€176,673 | -€174,414 | -7720.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,259 | -€176,673 | -€174,414 | -7720.8% |
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 12 October 2026 via checked.be.