Fiscal Pax: 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.
Fiscal Pax
Largest movements
- Cash +€118,900
up €118,900 (+209%), from €57,008 to €175,907
mainly Net result for the year (+€72,755) and Receivables within one year (+€21,757)
- Receivables within one year -€21,757
down €21,757 (-40.9%), from €53,150 to €31,393
of which Trade receivables: -€20,707
- Profit (loss) carried forward +€72,755
up €72,755 (+89.8%), from €80,997 to €153,752
- Other debts +€16,863
up €16,863 (+82.9%), from €20,338 to €37,201
- Trade debts +€3,795
up €3,795 (+397%), from €956 to €4,751
- Accrued charges and deferred income +€3,793
new in 2025: €3,793
- Gross operating margin -€2,183
down €2,183 (-2.2%), from €100,073 to €97,890
- Financial charges +€1,139
up €1,139 (+34.7%), from €3,278 to €4,416
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 | €116,137 | €212,693 | +€96,556 | +83.1% |
| Fixed assets | 21/28 | €1,850 | €2,762 | +€912 | +49.3% |
| Tangible fixed assets | 22/27 | €1,850 | €2,762 | +€912 | +49.3% |
| Plant, machinery and equipment | 23 | - | €1,560 | +€1,560 | |
| Furniture and vehicles | 24 | €1,850 | €1,202 | -€648 | -35.0% |
| Current assets | 29/58 | €114,287 | €209,931 | +€95,644 | +83.7% |
| Amounts receivable within one year | 40/41 | €53,150 | €31,393 | -€21,757 | -40.9% |
| Trade receivables | 40 | €52,100 | €31,393 | -€20,707 | -39.7% |
| Other amounts receivable | 41 | €1,050 | - | -€1,050 | |
| Cash at bank and in hand | 54/58 | €57,008 | €175,907 | +€118,900 | +209% |
| Deferred charges and accrued income | 490/1 | €4,130 | €2,631 | -€1,498 | -36.3% |
| Total equity and liabilities | 10/49 | €116,137 | €212,693 | +€96,556 | +83.1% |
| Equity | 10/15 | €82,997 | €155,752 | +€72,755 | +87.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,997 | €153,752 | +€72,755 | +89.8% |
| Amounts payable | 17/49 | €33,140 | €56,942 | +€23,801 | +71.8% |
| Amounts payable within one year | 42/48 | €33,140 | €53,149 | +€20,009 | +60.4% |
| Trade debts | 44 | €956 | €4,751 | +€3,795 | +397% |
| Suppliers | 440/4 | €956 | €4,751 | +€3,795 | +397% |
| Taxes, remuneration and social security | 45 | €11,846 | €11,197 | -€649 | -5.5% |
| Taxes | 450/3 | €11,846 | €11,197 | -€649 | -5.5% |
| Other amounts payable | 47/48 | €20,338 | €37,201 | +€16,863 | +82.9% |
| Accrued charges and deferred income | 492/3 | - | €3,793 | +€3,793 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94 | €674 | +€581 | +619% |
| Other operating charges | 640/8 | €387 | €701 | +€314 | +81.1% |
| Gross operating margin | 9900 | €100,073 | €97,890 | -€2,183 | -2.2% |
| Operating profit (loss) | 9901 | €99,592 | €96,515 | -€3,077 | -3.1% |
| Financial charges | 65/66B | €3,278 | €4,416 | +€1,139 | +34.7% |
| Recurring financial charges | 65 | €3,278 | €4,416 | +€1,139 | +34.7% |
| Profit (loss) for the period before taxes | 9903 | €96,314 | €92,098 | -€4,216 | -4.4% |
| Income taxes | 67/77 | €20,046 | €19,344 | -€702 | -3.5% |
| Profit (loss) for the period | 9904 | €76,268 | €72,755 | -€3,513 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €76,268 | €72,755 | -€3,513 | -4.6% |
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 20 October 2026 via checked.be.