Ets PAUWELS: 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.
Ets PAUWELS
Largest movements
- Stocks and contracts +€4,489
up €4,489 (+6.3%), from €71,614 to €76,103
- Cash +€970
up €970 (+341%), from €285 to €1,255
mainly Short-term financial debts (+€13,761) and Depreciation (+€2,904)
- Short-term financial debts +€13,761
up €13,761 (+105%), from €13,081 to €26,842
- Other debts -€11,025
down €11,025 (-21.9%), from €50,391 to €39,365
- Trade debts +€2,727
up €2,727 (+33.6%), from €8,127 to €10,854
- Gross operating margin -€13,195
down €13,195 (-56.0%), from €23,569 to €10,373
- Depreciation +€1,971
up €1,971 (+211%), from €933 to €2,904
- Taxes -€1,363
no longer reported in 2025 (was €1,363)
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 | €81,617 | €86,143 | +€4,526 | +5.5% |
| Fixed assets | 21/28 | €3,780 | €3,476 | -€303 | -8.0% |
| Tangible fixed assets | 22/27 | €3,230 | €2,926 | -€303 | -9.4% |
| Land and buildings | 22 | €356 | €239 | -€117 | -32.8% |
| Plant, machinery and equipment | 23 | €2,691 | €1,895 | -€796 | -29.6% |
| Furniture and vehicles | 24 | €183 | €792 | +€609 | +334% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €77,837 | €82,667 | +€4,830 | +6.2% |
| Stocks and contracts in progress | 3 | €71,614 | €76,103 | +€4,489 | +6.3% |
| Stocks | 30/36 | €71,614 | €76,103 | +€4,489 | +6.3% |
| Amounts receivable within one year | 40/41 | €5,939 | €5,310 | -€629 | -10.6% |
| Trade receivables | 40 | €5,939 | €5,310 | -€629 | -10.6% |
| Cash at bank and in hand | 54/58 | €285 | €1,255 | +€970 | +341% |
| Total equity and liabilities | 10/49 | €81,617 | €86,143 | +€4,526 | +5.5% |
| Equity | 10/15 | €5,852 | €5,508 | -€343 | -5.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €15,481 | €15,481 | = | 0.0% |
| Distributable reserves | 133 | €15,481 | €15,481 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,221 | -€28,564 | -€343 | -1.2% |
| Amounts payable | 17/49 | €75,766 | €80,635 | +€4,870 | +6.4% |
| Amounts payable within one year | 42/48 | €75,602 | €80,635 | +€5,033 | +6.7% |
| Financial debts | 43 | €13,081 | €26,842 | +€13,761 | +105% |
| Credit institutions | 430/8 | €13,081 | €26,842 | +€13,761 | +105% |
| Trade debts | 44 | €8,127 | €10,854 | +€2,727 | +33.6% |
| Suppliers | 440/4 | €8,127 | €10,854 | +€2,727 | +33.6% |
| Taxes, remuneration and social security | 45 | €4,003 | €3,573 | -€430 | -10.7% |
| Taxes | 450/3 | €4,003 | €3,573 | -€430 | -10.7% |
| Other amounts payable | 47/48 | €50,391 | €39,365 | -€11,025 | -21.9% |
| Accrued charges and deferred income | 492/3 | €163 | - | -€163 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €933 | €2,904 | +€1,971 | +211% |
| Other operating charges | 640/8 | €4,084 | €4,292 | +€208 | +5.1% |
| Gross operating margin | 9900 | €23,569 | €10,373 | -€13,195 | -56.0% |
| Operating profit (loss) | 9901 | €18,551 | €3,177 | -€15,374 | -82.9% |
| Financial income | 75/76B | €63 | €34 | -€28 | -45.2% |
| Recurring financial income | 75 | €63 | €34 | -€28 | -45.2% |
| Financial charges | 65/66B | €3,621 | €3,555 | -€66 | -1.8% |
| Recurring financial charges | 65 | €3,621 | €3,555 | -€66 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €14,993 | -€343 | -€15,336 | |
| Income taxes | 67/77 | €1,363 | - | -€1,363 | |
| Profit (loss) for the period | 9904 | €13,630 | -€343 | -€13,973 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,630 | -€343 | -€13,973 |
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 28 October 2026 via checked.be.