EDI PAVAGE: what changed
EDI PAVAGE
Largest movements
- Current investments +€76,741
new in 2025: €76,741
- Cash -€37,865
no longer reported in 2025 (was €37,865)
mainly Contributions, distributions and other (-€100,000) and Current investments (-€76,741)
- Receivables within one year -€34,917
down €34,917 (-15.6%), from €224,077 to €189,159
of which Trade receivables: -€37,881
- Tangible fixed assets +€9,277
up €9,277 (+9.3%), from €99,420 to €108,697
of which Furniture and vehicles: +€23,371
- Other debts +€100,000
new in 2025: €100,000
- Profit (loss) carried forward -€42,373
down €42,373 (-90.8%), from €46,672 to €4,299
- Tax, wage and social debts -€40,833
down €40,833 (-62.3%), from €65,493 to €24,660
- Trade debts -€14,677
down €14,677 (-49.7%), from €29,545 to €14,868
- Current portion of long-term debt +€8,533
up €8,533 (+13.8%), from €61,641 to €70,174
- Taxes -€68,263
down €68,263 (-95.1%), from €71,770 to €3,508
- Staff costs +€60,079
up €60,079 (+16.7%), from €359,694 to €419,774
- Turnover -€20,783
down €20,783 (-2.5%), from €846,077 to €825,294
- Purchases and services -€18,186
down €18,186 (-6.1%), from €298,964 to €280,779
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 | €361,362 | €374,598 | +€13,236 | +3.7% |
| Fixed assets | 21/28 | €99,420 | €108,697 | +€9,277 | +9.3% |
| Tangible fixed assets | 22/27 | €99,420 | €108,697 | +€9,277 | +9.3% |
| Plant, machinery and equipment | 23 | €32,855 | €18,761 | -€14,094 | -42.9% |
| Furniture and vehicles | 24 | €66,565 | €89,937 | +€23,371 | +35.1% |
| Current assets | 29/58 | €261,941 | €265,900 | +€3,959 | +1.5% |
| Amounts receivable within one year | 40/41 | €224,077 | €189,159 | -€34,917 | -15.6% |
| Trade receivables | 40 | €178,973 | €141,091 | -€37,881 | -21.2% |
| Other amounts receivable | 41 | €45,104 | €48,068 | +€2,964 | +6.6% |
| Current investments | 50/53 | - | €76,741 | +€76,741 | |
| Cash at bank and in hand | 54/58 | €37,865 | - | -€37,865 | |
| Total equity and liabilities | 10/49 | €361,362 | €374,598 | +€13,236 | +3.7% |
| Equity | 10/15 | €156,672 | €114,299 | -€42,373 | -27.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €100,000 | €100,000 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,672 | €4,299 | -€42,373 | -90.8% |
| Amounts payable | 17/49 | €204,689 | €260,298 | +€55,609 | +27.2% |
| Amounts payable after more than one year | 17 | €48,012 | €50,597 | +€2,585 | +5.4% |
| Financial debts | 170/4 | €48,012 | €50,597 | +€2,585 | +5.4% |
| Amounts payable within one year | 42/48 | €156,678 | €209,702 | +€53,024 | +33.8% |
| Current portion of amounts payable after more than one year | 42 | €61,641 | €70,174 | +€8,533 | +13.8% |
| Trade debts | 44 | €29,545 | €14,868 | -€14,677 | -49.7% |
| Suppliers | 440/4 | €29,545 | €14,868 | -€14,677 | -49.7% |
| Taxes, remuneration and social security | 45 | €65,493 | €24,660 | -€40,833 | -62.3% |
| Taxes | 450/3 | €65,493 | €24,660 | -€40,833 | -62.3% |
| Other amounts payable | 47/48 | - | €100,000 | +€100,000 | |
| Turnover | 70 | €846,077 | €825,294 | -€20,783 | -2.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €298,964 | €280,779 | -€18,186 | -6.1% |
| Remuneration, social security and pensions | 62 | €359,694 | €419,774 | +€60,079 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,193 | €54,378 | +€5,185 | +10.5% |
| Other operating charges | 640/8 | €2,209 | €2,850 | +€642 | +29.1% |
| Gross operating margin | 9900 | €547,113 | €544,515 | -€2,597 | -0.5% |
| Operating profit (loss) | 9901 | €136,017 | €67,513 | -€68,503 | -50.4% |
| Financial charges | 65/66B | €3,898 | €6,378 | +€2,480 | +63.6% |
| Recurring financial charges | 65 | €3,898 | €6,378 | +€2,480 | +63.6% |
| Profit (loss) for the period before taxes | 9903 | €132,119 | €61,135 | -€70,984 | -53.7% |
| Income taxes | 67/77 | €71,770 | €3,508 | -€68,263 | -95.1% |
| Profit (loss) for the period | 9904 | €60,349 | €57,627 | -€2,721 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €60,349 | €57,627 | -€2,721 | -4.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.