Le PACHY: 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.
Le PACHY
Largest movements
- Tangible fixed assets +€3.1m
up €3.1m (+126%), from €2.4m to €5.5m
of which Land and buildings: +€2.2m
- Receivables within one year +€102,827
up €102,827 (+108%), from €94,782 to €197,609
of which Other amounts receivable: +€107,951
- Intangible fixed assets -€80,000
down €80,000 (-11.7%), from €681,644 to €601,644
- Other debts +€3.7m
up €3.7m (+88.0%), from €4.3m to €8.0m
- Profit (loss) carried forward -€1.4m
down €1.4m (-115%), from -€1.2m to -€2.6m
- Debts after one year +€521,109
up €521,109, from €0 to €521,109
of which Financial debts: +€521,109
- Trade debts +€137,244
up €137,244 (+72.2%), from €190,100 to €327,344
- Current portion of long-term debt +€136,238
new in 2024: €136,238
- Gross operating margin -€307,780
down €307,780 (-244%), from -€126,271 to -€434,052
- Depreciation +€219,353
up €219,353 (+99.0%), from €221,601 to €440,954
- Financial charges +€97,553
up €97,553 (+179%), from €54,402 to €151,956
- Other operating charges -€17,271
down €17,271 (-38.7%), from €44,600 to €27,330
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,277,255 | €6,441,200 | +€3.2m | +96.5% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €3,131,172 | €6,140,671 | +€3.0m | +96.1% |
| Intangible fixed assets | 21 | €681,644 | €601,644 | -€80,000 | -11.7% |
| Tangible fixed assets | 22/27 | €2,446,528 | €5,539,027 | +€3.1m | +126% |
| Land and buildings | 22 | €1,878,170 | €4,111,824 | +€2.2m | +119% |
| Plant, machinery and equipment | 23 | €515,128 | €630,193 | +€115,065 | +22.3% |
| Furniture and vehicles | 24 | €53,230 | €56,290 | +€3,060 | +5.7% |
| Leasing and similar rights | 25 | - | €740,720 | +€740,720 | |
| Financial fixed assets | 28 | €3,000 | €0 | -€3,000 | -100% |
| Current assets | 29/58 | €146,083 | €300,529 | +€154,446 | +106% |
| Stocks and contracts in progress | 3 | €2,669 | €2,040 | -€628 | -23.5% |
| Stocks | 30/36 | €2,669 | €2,040 | -€628 | -23.5% |
| Amounts receivable within one year | 40/41 | €94,782 | €197,609 | +€102,827 | +108% |
| Trade receivables | 40 | €87,851 | €82,726 | -€5,124 | -5.8% |
| Other amounts receivable | 41 | €6,932 | €114,883 | +€107,951 | +1,557% |
| Cash at bank and in hand | 54/58 | €44,996 | €95,437 | +€50,441 | +112% |
| Deferred charges and accrued income | 490/1 | €3,635 | €5,442 | +€1,807 | +49.7% |
| Total equity and liabilities | 10/49 | €3,277,255 | €6,441,200 | +€3.2m | +96.5% |
| Equity | 10/15 | -€1,190,891 | -€2,564,283 | -€1.4m | -115% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,191,891 | -€2,565,283 | -€1.4m | -115% |
| Amounts payable | 17/49 | €4,468,146 | €9,005,483 | +€4.5m | +102% |
| Amounts payable after more than one year | 17 | €0 | €521,109 | +€521,109 | |
| Financial debts | 170/4 | - | €521,109 | +€521,109 | |
| Trade debts | 175 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €4,468,146 | €8,484,374 | +€4.0m | +89.9% |
| Current portion of amounts payable after more than one year | 42 | - | €136,238 | +€136,238 | |
| Trade debts | 44 | €190,100 | €327,344 | +€137,244 | +72.2% |
| Suppliers | 440/4 | €190,100 | €327,344 | +€137,244 | +72.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €26,570 | €26,418 | -€153 | -0.6% |
| Taxes | 450/3 | €4,733 | €2,206 | -€2,527 | -53.4% |
| Remuneration and social security | 454/9 | €21,837 | €24,212 | +€2,374 | +10.9% |
| Other amounts payable | 47/48 | €4,251,476 | €7,994,375 | +€3.7m | +88.0% |
| Remuneration, social security and pensions | 62 | €319,851 | €318,692 | -€1,158 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €221,601 | €440,954 | +€219,353 | +99.0% |
| Other operating charges | 640/8 | €44,600 | €27,330 | -€17,271 | -38.7% |
| Non-recurring operating charges | 66A | €3,590 | €490 | -€3,100 | -86.3% |
| Gross operating margin | 9900 | -€126,271 | -€434,052 | -€307,780 | -244% |
| Operating profit (loss) | 9901 | -€715,913 | -€1,221,518 | -€505,605 | -70.6% |
| Financial income | 75/76B | €3 | €82 | +€79 | +2,694% |
| Recurring financial income | 75 | €3 | €82 | +€79 | +2,694% |
| Financial charges | 65/66B | €54,402 | €151,956 | +€97,553 | +179% |
| Recurring financial charges | 65 | €54,402 | €151,956 | +€97,553 | +179% |
| Profit (loss) for the period before taxes | 9903 | -€770,312 | -€1,373,392 | -€603,079 | -78.3% |
| Profit (loss) for the period | 9904 | -€770,312 | -€1,373,392 | -€603,079 | -78.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€770,312 | -€1,373,392 | -€603,079 | -78.3% |
Source: filed annual accounts (NBB), financial years ended 30 November 2023 and 30 November 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.