FLORIANNE PAGNIER: 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.
FLORIANNE PAGNIER
Largest movements
- Tangible fixed assets -€5,376
down €5,376 (-89.8%), from €5,985 to €608
- Cash +€4,808
up €4,808 (+69.1%), from €6,961 to €11,769
mainly Depreciation (+€6,069) and Other debts (+€2,258)
- Deferred charges and accrued income +€335
up €335 (+12.9%), from €2,604 to €2,939
- Profit (loss) carried forward -€3,181
down €3,181, from €2,249 to -€931
- Other debts +€2,258
up €2,258 (+20.3%), from €11,104 to €13,361
- Tax, wage and social debts +€463
up €463 (+362%), from €128 to €591
- Trade debts +€227
up €227 (+40.0%), from €568 to €796
- Gross operating margin +€1,935
up €1,935 (+81.1%), from €2,386 to €4,321
- Taxes +€463
up €463 (+362%), from €128 to €591
- Financial charges -€187
down €187 (-41.9%), from €448 to €260
- Depreciation +€86
up €86 (+1.4%), from €5,983 to €6,069
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 | €15,549 | €15,317 | -€233 | -1.5% |
| Fixed assets | 21/28 | €5,985 | €608 | -€5,376 | -89.8% |
| Tangible fixed assets | 22/27 | €5,985 | €608 | -€5,376 | -89.8% |
| Furniture and vehicles | 24 | €5,985 | €608 | -€5,376 | -89.8% |
| Current assets | 29/58 | €9,565 | €14,708 | +€5,144 | +53.8% |
| Cash at bank and in hand | 54/58 | €6,961 | €11,769 | +€4,808 | +69.1% |
| Deferred charges and accrued income | 490/1 | €2,604 | €2,939 | +€335 | +12.9% |
| Total equity and liabilities | 10/49 | €15,549 | €15,317 | -€233 | -1.5% |
| Equity | 10/15 | €3,749 | €569 | -€3,181 | -84.8% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,249 | -€931 | -€3,181 | |
| Amounts payable | 17/49 | €11,800 | €14,748 | +€2,948 | +25.0% |
| Amounts payable within one year | 42/48 | €11,800 | €14,748 | +€2,948 | +25.0% |
| Trade debts | 44 | €568 | €796 | +€227 | +40.0% |
| Suppliers | 440/4 | €568 | €796 | +€227 | +40.0% |
| Taxes, remuneration and social security | 45 | €128 | €591 | +€463 | +362% |
| Taxes | 450/3 | €128 | €591 | +€463 | +362% |
| Other amounts payable | 47/48 | €11,104 | €13,361 | +€2,258 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,983 | €6,069 | +€86 | +1.4% |
| Other operating charges | 640/8 | €563 | €581 | +€19 | +3.3% |
| Gross operating margin | 9900 | €2,386 | €4,321 | +€1,935 | +81.1% |
| Operating profit (loss) | 9901 | -€4,160 | -€2,329 | +€1,830 | +44.0% |
| Financial charges | 65/66B | €448 | €260 | -€187 | -41.9% |
| Recurring financial charges | 65 | €448 | €260 | -€187 | -41.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,607 | -€2,590 | +€2,018 | +43.8% |
| Income taxes | 67/77 | €128 | €591 | +€463 | +362% |
| Profit (loss) for the period | 9904 | -€4,735 | -€3,181 | +€1,554 | +32.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,735 | -€3,181 | +€1,554 | +32.8% |
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 24 October 2026 via checked.be.