LA PAIX: 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.
LA PAIX
Largest movements
- Receivables within one year +€33,508
up €33,508 (+172%), from €19,509 to €53,018
of which Other amounts receivable: +€53,018
- Stocks and contracts +€23,517
up €23,517 (+210%), from €11,216 to €34,732
- Tangible fixed assets -€14,108
down €14,108 (-26.2%), from €53,773 to €39,665
of which Plant, machinery and equipment: -€10,965
- Cash -€3,681
down €3,681 (-16.9%), from €21,756 to €18,076
mainly Receivables within one year (-€33,508) and Other debts (-€31,186)
- Reserves +€48,454
up €48,454 (+228%), from €21,276 to €69,730
- Other debts -€31,186
down €31,186 (-99.2%), from €31,435 to €249
- Tax, wage and social debts +€14,086
up €14,086 (+111%), from €12,675 to €26,761
- Trade debts +€6,623
up €6,623 (+324%), from €2,042 to €8,665
- Current portion of long-term debt +€1,491
up €1,491 (+22.3%), from €6,686 to €8,176
- Gross operating margin +€39,677
up €39,677 (+64.3%), from €61,727 to €101,405
- Taxes +€12,992
up €12,992 (+109%), from €11,888 to €24,880
- Staff costs +€9,102
up €9,102, from €0 to €9,102
- Financial charges -€1,440
down €1,440 (-29.5%), from €4,886 to €3,446
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 | €107,639 | €147,107 | +€39,467 | +36.7% |
| Fixed assets | 21/28 | €55,158 | €41,050 | -€14,108 | -25.6% |
| Tangible fixed assets | 22/27 | €53,773 | €39,665 | -€14,108 | -26.2% |
| Land and buildings | 22 | €1,328 | €0 | -€1,328 | -100% |
| Plant, machinery and equipment | 23 | €48,167 | €37,201 | -€10,965 | -22.8% |
| Furniture and vehicles | 24 | €4,278 | €2,464 | -€1,815 | -42.4% |
| Financial fixed assets | 28 | €1,385 | €1,385 | = | 0.0% |
| Current assets | 29/58 | €52,482 | €106,057 | +€53,575 | +102% |
| Stocks and contracts in progress | 3 | €11,216 | €34,732 | +€23,517 | +210% |
| Stocks | 30/36 | €11,216 | €34,732 | +€23,517 | +210% |
| Amounts receivable within one year | 40/41 | €19,509 | €53,018 | +€33,508 | +172% |
| Trade receivables | 40 | €19,509 | €0 | -€19,509 | -100% |
| Other amounts receivable | 41 | €0 | €53,018 | +€53,018 | |
| Cash at bank and in hand | 54/58 | €21,756 | €18,076 | -€3,681 | -16.9% |
| Deferred charges and accrued income | 490/1 | - | €231 | +€231 | |
| Total equity and liabilities | 10/49 | €107,639 | €147,107 | +€39,467 | +36.7% |
| Equity | 10/15 | €54,801 | €103,255 | +€48,454 | +88.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €21,276 | €69,730 | +€48,454 | +228% |
| Distributable reserves | 133 | €21,276 | €69,730 | +€48,454 | +228% |
| Profit (loss) carried forward | 14 | €14,925 | €14,925 | = | 0.0% |
| Amounts payable | 17/49 | €52,838 | €43,852 | -€8,986 | -17.0% |
| Amounts payable within one year | 42/48 | €52,838 | €43,852 | -€8,986 | -17.0% |
| Current portion of amounts payable after more than one year | 42 | €6,686 | €8,176 | +€1,491 | +22.3% |
| Trade debts | 44 | €2,042 | €8,665 | +€6,623 | +324% |
| Suppliers | 440/4 | €2,042 | €8,665 | +€6,623 | +324% |
| Taxes, remuneration and social security | 45 | €12,675 | €26,761 | +€14,086 | +111% |
| Taxes | 450/3 | €12,675 | €26,761 | +€14,086 | +111% |
| Other amounts payable | 47/48 | €31,435 | €249 | -€31,186 | -99.2% |
| Remuneration, social security and pensions | 62 | €0 | €9,102 | +€9,102 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,991 | €14,108 | +€118 | +0.8% |
| Other operating charges | 640/8 | €858 | €1,415 | +€556 | +64.8% |
| Gross operating margin | 9900 | €61,727 | €101,405 | +€39,677 | +64.3% |
| Operating profit (loss) | 9901 | €46,879 | €76,780 | +€29,901 | +63.8% |
| Financial income | 75/76B | €4 | €0 | -€4 | -100% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -100% |
| Financial charges | 65/66B | €4,886 | €3,446 | -€1,440 | -29.5% |
| Recurring financial charges | 65 | €4,886 | €3,446 | -€1,440 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | €41,997 | €73,334 | +€31,337 | +74.6% |
| Income taxes | 67/77 | €11,888 | €24,880 | +€12,992 | +109% |
| Profit (loss) for the period | 9904 | €30,108 | €48,454 | +€18,345 | +60.9% |
| Profit (loss) for the period to be appropriated | 9905 | €30,108 | €48,454 | +€18,345 | +60.9% |
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 23 October 2026 via checked.be.