HET PAVILJOEN: 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.
What changed
HET PAVILJOEN
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€213,887
2024 · -€140,331+€354,218
Equity
€1.3m
2024 · €1.1m+€213,887
Cash
€86,648
2024 · €64,768+€21,880
Balance sheet total
€2.9m
2024 · €2.7m+€207,559
Largest movements
Assets
- Tangible fixed assets +€178,406
up €178,406 (+6.7%), from €2.7m to €2.8m
of which Land and buildings: +€178,406
Equity and liabilities
- Profit (loss) carried forward +€213,887
up €213,887 (+29.5%), from -€725,913 to -€512,026
Income statement
- Gross operating margin +€244,555
up €244,555 (+3,578%), from €6,834 to €251,389
- Depreciation -€109,125
down €109,125 (-77.5%), from €140,871 to €31,745
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.
Result 2024
-€140,331
Gross operating margin
+€244,555
Staff costs
+€408
Depreciation
+€109,125
Other operating charges
-€398
Financial income
+€557
Financial charges
-€30
Result 2025
€213,887
raises the resultlowers the result
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.
From operations
+€232,031
Investment
-€210,151
Financing
€0
Cash 2024
€64,768
From operations (derived)
+€232,031
Net result for the year
+€213,887
Depreciation
+€31,745
Receivables within one year
-€7,273
Trade debts
-€1,251
Other debts
-€5,076
Investment (derived)
-€210,151
Investment in fixed assets (net)
-€210,151
Cash 2025
€86,648
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,728,763 | €2,936,322 | +€207,559 | +7.6% |
| Fixed assets | 21/28 | €2,662,309 | €2,840,714 | +€178,406 | +6.7% |
| Tangible fixed assets | 22/27 | €2,662,072 | €2,840,477 | +€178,406 | +6.7% |
| Land and buildings | 22 | €2,662,072 | €2,840,477 | +€178,406 | +6.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Financial fixed assets | 28 | €237 | €237 | = | 0.0% |
| Current assets | 29/58 | €66,454 | €95,608 | +€29,154 | +43.9% |
| Amounts receivable within one year | 40/41 | €1,686 | €8,960 | +€7,273 | +431% |
| Trade receivables | 40 | €0 | €4,485 | +€4,485 | |
| Other amounts receivable | 41 | €1,686 | €4,475 | +€2,789 | +165% |
| Cash at bank and in hand | 54/58 | €64,768 | €86,648 | +€21,880 | +33.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,728,763 | €2,936,322 | +€207,559 | +7.6% |
| Equity | 10/15 | €1,063,714 | €1,277,601 | +€213,887 | +20.1% |
| Contributions | 10/11 | €1,716,825 | €1,716,825 | = | 0.0% |
| Capital | 10 | €1,716,825 | €1,716,825 | = | 0.0% |
| Issued capital | 100 | €1,716,825 | €1,716,825 | = | 0.0% |
| Reserves | 13 | €72,802 | €72,802 | = | 0.0% |
| Non-distributable reserves | 130/1 | €72,802 | €72,802 | = | 0.0% |
| Legal reserve | 130 | €72,802 | €72,802 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€725,913 | -€512,026 | +€213,887 | +29.5% |
| Amounts payable | 17/49 | €1,665,049 | €1,658,721 | -€6,328 | -0.4% |
| Amounts payable after more than one year | 17 | €400,000 | €400,000 | = | 0.0% |
| Other amounts payable | 178/9 | €400,000 | €400,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,265,049 | €1,258,721 | -€6,328 | -0.5% |
| Trade debts | 44 | €9,701 | €8,450 | -€1,251 | -12.9% |
| Suppliers | 440/4 | €9,701 | €8,450 | -€1,251 | -12.9% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,255,347 | €1,250,271 | -€5,076 | -0.4% |
| Non-recurring operating income | 76A | €0 | €198,735 | +€198,735 | |
| Remuneration, social security and pensions | 62 | €408 | €0 | -€408 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,871 | €31,745 | -€109,125 | -77.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,607 | €6,005 | +€398 | +7.1% |
| Gross operating margin | 9900 | €6,834 | €251,389 | +€244,555 | +3,578% |
| Operating profit (loss) | 9901 | -€140,052 | €213,639 | +€353,691 | |
| Financial income | 75/76B | €1 | €559 | +€557 | +49,775% |
| Recurring financial income | 75 | €1 | €559 | +€557 | +49,775% |
| Financial charges | 65/66B | €280 | €310 | +€30 | +10.8% |
| Recurring financial charges | 65 | €280 | €310 | +€30 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | -€140,331 | €213,887 | +€354,218 | |
| Profit (loss) for the period | 9904 | -€140,331 | €213,887 | +€354,218 | |
| Profit (loss) for the period to be appropriated | 9905 | -€140,331 | €213,887 | +€354,218 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.