La Passerelle: 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 Passerelle
Largest movements
- Receivables within one year -€90,639
down €90,639 (-20.0%), from €452,714 to €362,075
of which Other amounts receivable: -€121,097
- Current investments +€51,538
up €51,538 (+10.3%), from €502,770 to €554,309
- Cash +€31,133
up €31,133 (+43.5%), from €71,608 to €102,741
mainly Receivables within one year (+€90,639) and Net result for the year (+€35,673)
- Tangible fixed assets +€24,816
up €24,816 (+8.9%), from €277,603 to €302,419
of which Furniture and vehicles: +€30,636
- Receivables after one year -€15,000
down €15,000 (-50.0%), from €30,000 to €15,000
- Profit (loss) carried forward +€35,673
up €35,673 (+22.0%), from €162,042 to €197,715
- Debts after one year -€17,285
down €17,285 (-19.8%), from €87,299 to €70,015
- Staff costs +€125,131
up €125,131 (+5.0%), from €2.5m to €2.6m
- Gross operating margin +€106,181
up €106,181 (+4.1%), from €2.6m to €2.7m
- Financial income -€65,576
down €65,576 (-94.6%), from €69,325 to €3,749
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 | €1,340,534 | €1,344,159 | +€3,625 | +0.3% |
| Fixed assets | 21/28 | €283,387 | €308,091 | +€24,704 | +8.7% |
| Tangible fixed assets | 22/27 | €277,603 | €302,419 | +€24,816 | +8.9% |
| Land and buildings | 22 | €250,558 | €238,208 | -€12,351 | -4.9% |
| Plant, machinery and equipment | 23 | €19,844 | €17,680 | -€2,165 | -10.9% |
| Furniture and vehicles | 24 | - | €30,636 | +€30,636 | |
| Leasing and similar rights | 25 | €3,906 | €3,281 | -€625 | -16.0% |
| Assets under construction and advance payments | 27 | €3,294 | €12,615 | +€9,320 | +283% |
| Financial fixed assets | 28 | €5,784 | €5,672 | -€112 | -1.9% |
| Current assets | 29/58 | €1,057,148 | €1,036,068 | -€21,080 | -2.0% |
| Amounts receivable after more than one year | 29 | €30,000 | €15,000 | -€15,000 | -50.0% |
| Other amounts receivable | 291 | €30,000 | €15,000 | -€15,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €452,714 | €362,075 | -€90,639 | -20.0% |
| Trade receivables | 40 | €45,564 | €76,023 | +€30,459 | +66.8% |
| Other amounts receivable | 41 | €407,150 | €286,052 | -€121,097 | -29.7% |
| Current investments | 50/53 | €502,770 | €554,309 | +€51,538 | +10.3% |
| Cash at bank and in hand | 54/58 | €71,608 | €102,741 | +€31,133 | +43.5% |
| Deferred charges and accrued income | 490/1 | €55 | €1,943 | +€1,888 | +3,442% |
| Total equity and liabilities | 10/49 | €1,340,534 | €1,344,159 | +€3,625 | +0.3% |
| Equity | 10/15 | €632,104 | €666,929 | +€34,824 | +5.5% |
| Contributions | 10/11 | €437,933 | €437,933 | = | 0.0% |
| Capital | 10 | €437,933 | €437,933 | = | 0.0% |
| Reserves | 13 | €21,098 | €21,098 | = | 0.0% |
| Profit (loss) carried forward | 14 | €162,042 | €197,715 | +€35,673 | +22.0% |
| Investment grants | 15 | €11,030 | €10,182 | -€848 | -7.7% |
| Amounts payable | 17/49 | €708,430 | €677,230 | -€31,200 | -4.4% |
| Amounts payable after more than one year | 17 | €87,299 | €70,015 | -€17,285 | -19.8% |
| Financial debts | 170/4 | €87,299 | €70,015 | -€17,285 | -19.8% |
| Amounts payable within one year | 42/48 | €617,288 | €605,977 | -€11,311 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €18,656 | €18,641 | -€15 | -0.1% |
| Trade debts | 44 | €138,257 | €101,529 | -€36,728 | -26.6% |
| Suppliers | 440/4 | €138,257 | €101,529 | -€36,728 | -26.6% |
| Taxes, remuneration and social security | 45 | €441,812 | €467,245 | +€25,433 | +5.8% |
| Taxes | 450/3 | €79,096 | €60,538 | -€18,559 | -23.5% |
| Remuneration and social security | 454/9 | €362,716 | €406,708 | +€43,991 | +12.1% |
| Accrued charges and deferred income | 492/3 | €3,843 | €1,238 | -€2,605 | -67.8% |
| Non-recurring operating income | 76A | €46,971 | €37,591 | -€9,379 | -20.0% |
| Remuneration, social security and pensions | 62 | €2,508,431 | €2,633,561 | +€125,131 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,780 | €21,750 | +€6,970 | +47.2% |
| Other operating charges | 640/8 | €3,384 | €2,459 | -€925 | -27.3% |
| Gross operating margin | 9900 | €2,590,869 | €2,697,050 | +€106,181 | +4.1% |
| Operating profit (loss) | 9901 | €64,275 | €39,280 | -€24,995 | -38.9% |
| Financial income | 75/76B | €69,325 | €3,749 | -€65,576 | -94.6% |
| Recurring financial income | 75 | €69,325 | €3,749 | -€65,576 | -94.6% |
| Financial charges | 65/66B | €17,317 | €7,356 | -€9,961 | -57.5% |
| Recurring financial charges | 65 | €17,317 | €7,356 | -€9,961 | -57.5% |
| Profit (loss) for the period before taxes | 9903 | €116,283 | €35,673 | -€80,610 | -69.3% |
| Profit (loss) for the period | 9904 | €116,283 | €35,673 | -€80,610 | -69.3% |
| Profit (loss) for the period to be appropriated | 9905 | €116,283 | €35,673 | -€80,610 | -69.3% |
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.