El Pablo: 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.
El Pablo
Largest movements
- Receivables within one year +€6,371
up €6,371 (+55.4%), from €11,492 to €17,864
of which Trade receivables: +€5,883
- Receivables after one year -€3,350
down €3,350 (-18.6%), from €18,000 to €14,650
- Deferred charges and accrued income +€1,997
up €1,997 (+365.6%), from €546 to €2,543
- Cash -€838
down €838 (-3.4%), from €24,428 to €23,590
mainly Contributions, distributions and other (-€11,000) and Receivables within one year (-€6,371)
- Tangible fixed assets +€727
up €727, from €0 to €727
- Reserves -€4,918
down €4,918 (-15.1%), from €32,542 to €27,624
- Trade debts +€4,259
up €4,259 (+115.6%), from €3,684 to €7,943
- Other debts +€3,548
up €3,548 (+32.3%), from €11,000 to €14,548
- Short-term financial debts +€1,409
new in 2025: €1,409
- Gross operating margin -€12,742
down €12,742 (-54.2%), from €23,494 to €10,752
- Taxes -€2,804
down €2,804 (-62.7%), from €4,470 to €1,666
- Financial charges +€627
up €627 (+56.7%), from €1,105 to €1,732
- Financial income -€365
down €365 (-100.0%), from €365 to €0
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 | €54,467 | €59,374 | +€4,907 | +9.0% |
| Fixed assets | 21/28 | €0 | €727 | +€727 | |
| Tangible fixed assets | 22/27 | €0 | €727 | +€727 | |
| Furniture and vehicles | 24 | €0 | €727 | +€727 | |
| Current assets | 29/58 | €54,467 | €58,647 | +€4,180 | +7.7% |
| Amounts receivable after more than one year | 29 | €18,000 | €14,650 | -€3,350 | -18.6% |
| Other amounts receivable | 291 | €18,000 | €14,650 | -€3,350 | -18.6% |
| Amounts receivable within one year | 40/41 | €11,492 | €17,864 | +€6,371 | +55.4% |
| Trade receivables | 40 | €8,323 | €14,206 | +€5,883 | +70.7% |
| Other amounts receivable | 41 | €3,170 | €3,658 | +€488 | +15.4% |
| Cash at bank and in hand | 54/58 | €24,428 | €23,590 | -€838 | -3.4% |
| Deferred charges and accrued income | 490/1 | €546 | €2,543 | +€1,997 | +365.6% |
| Total equity and liabilities | 10/49 | €54,467 | €59,374 | +€4,907 | +9.0% |
| Equity | 10/15 | €35,542 | €30,624 | -€4,918 | -13.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €32,542 | €27,624 | -€4,918 | -15.1% |
| Distributable reserves | 133 | €32,542 | €27,624 | -€4,918 | -15.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €18,926 | €28,751 | +€9,825 | +51.9% |
| Amounts payable within one year | 42/48 | €18,926 | €28,608 | +€9,682 | +51.2% |
| Financial debts | 43 | - | €1,409 | +€1,409 | |
| Credit institutions | 430/8 | - | €1,409 | +€1,409 | |
| Trade debts | 44 | €3,684 | €7,943 | +€4,259 | +115.6% |
| Suppliers | 440/4 | €3,684 | €7,943 | +€4,259 | +115.6% |
| Taxes, remuneration and social security | 45 | €4,242 | €4,708 | +€466 | +11.0% |
| Taxes | 450/3 | €4,242 | €4,708 | +€466 | +11.0% |
| Other amounts payable | 47/48 | €11,000 | €14,548 | +€3,548 | +32.3% |
| Accrued charges and deferred income | 492/3 | - | €143 | +€143 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €413 | €359 | -€54 | -13.1% |
| Other operating charges | 640/8 | €867 | €912 | +€46 | +5.3% |
| Gross operating margin | 9900 | €23,494 | €10,752 | -€12,742 | -54.2% |
| Operating profit (loss) | 9901 | €22,214 | €9,481 | -€12,733 | -57.3% |
| Financial income | 75/76B | €365 | €0 | -€365 | -100.0% |
| Recurring financial income | 75 | €365 | €0 | -€365 | -100.0% |
| Financial charges | 65/66B | €1,105 | €1,732 | +€627 | +56.7% |
| Recurring financial charges | 65 | €1,105 | €1,732 | +€627 | +56.7% |
| Profit (loss) for the period before taxes | 9903 | €21,474 | €7,748 | -€13,725 | -63.9% |
| Income taxes | 67/77 | €4,470 | €1,666 | -€2,804 | -62.7% |
| Profit (loss) for the period | 9904 | €17,004 | €6,082 | -€10,922 | -64.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,004 | €6,082 | -€10,922 | -64.2% |
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 11 October 2026 via checked.be.