Lost in Pablos: 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.
Lost in Pablos
Largest movements
- Cash +€54,489
up €54,489 (+52.0%), from €104,874 to €159,362
mainly Other debts (+€147,728) and Net result for the year (+€70,568)
- Receivables within one year +€16,646
up €16,646 (+31.3%), from €53,222 to €69,869
of which Other amounts receivable: +€27,352
- Financial fixed assets +€12,250
new in 2025: €12,250
- Tangible fixed assets -€12,124
down €12,124 (-30.8%), from €39,392 to €27,268
of which Other tangible fixed assets: -€7,147
- Other debts +€147,728
up €147,728 (+4,970%), from €2,972 to €150,700
- Reserves -€77,932
down €77,932 (-32.0%), from €243,910 to €165,978
- Tax, wage and social debts +€15,842
up €15,842 (+46.9%), from €33,787 to €49,630
of which Taxes: +€8,418
- Trade debts -€14,908
down €14,908 (-50.4%), from €29,559 to €14,651
- Advances received +€6,850
up €6,850 (+338%), from €2,025 to €8,875
- Gross operating margin +€71,954
up €71,954 (+41.2%), from €174,495 to €246,450
- Staff costs +€24,935
up €24,935 (+24.1%), from €103,617 to €128,552
- Taxes +€19,062
up €19,062 (+146%), from €13,042 to €32,103
- Depreciation -€2,994
down €2,994 (-17.3%), from €17,310 to €14,316
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 | €352,573 | €423,742 | +€71,169 | +20.2% |
| Fixed assets | 21/28 | €40,830 | €39,789 | -€1,041 | -2.5% |
| Intangible fixed assets | 21 | €1,437 | €271 | -€1,167 | -81.2% |
| Tangible fixed assets | 22/27 | €39,392 | €27,268 | -€12,124 | -30.8% |
| Plant, machinery and equipment | 23 | €8,466 | €7,154 | -€1,312 | -15.5% |
| Furniture and vehicles | 24 | €14,573 | €10,908 | -€3,665 | -25.1% |
| Other tangible fixed assets | 26 | €16,353 | €9,206 | -€7,147 | -43.7% |
| Financial fixed assets | 28 | - | €12,250 | +€12,250 | |
| Current assets | 29/58 | €311,743 | €383,953 | +€72,210 | +23.2% |
| Stocks and contracts in progress | 3 | €147,851 | €151,594 | +€3,743 | +2.5% |
| Stocks | 30/36 | €147,851 | €151,594 | +€3,743 | +2.5% |
| Amounts receivable within one year | 40/41 | €53,222 | €69,869 | +€16,646 | +31.3% |
| Trade receivables | 40 | €31,129 | €20,423 | -€10,706 | -34.4% |
| Other amounts receivable | 41 | €22,093 | €49,446 | +€27,352 | +124% |
| Cash at bank and in hand | 54/58 | €104,874 | €159,362 | +€54,489 | +52.0% |
| Deferred charges and accrued income | 490/1 | €5,796 | €3,128 | -€2,668 | -46.0% |
| Total equity and liabilities | 10/49 | €352,573 | €423,742 | +€71,169 | +20.2% |
| Equity | 10/15 | €262,510 | €184,578 | -€77,932 | -29.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €243,910 | €165,978 | -€77,932 | -32.0% |
| Distributable reserves | 133 | €243,910 | €165,978 | -€77,932 | -32.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €90,063 | €239,164 | +€149,101 | +166% |
| Amounts payable after more than one year | 17 | €15,256 | €9,786 | -€5,470 | -35.9% |
| Financial debts | 170/4 | €15,256 | €9,786 | -€5,470 | -35.9% |
| Amounts payable within one year | 42/48 | €73,996 | €229,350 | +€155,353 | +210% |
| Current portion of amounts payable after more than one year | 42 | €5,382 | €5,470 | +€87 | +1.6% |
| Financial debts | 43 | €271 | €24 | -€247 | -91.1% |
| Credit institutions | 430/8 | €271 | €24 | -€247 | -91.1% |
| Trade debts | 44 | €29,559 | €14,651 | -€14,908 | -50.4% |
| Suppliers | 440/4 | €29,559 | €14,651 | -€14,908 | -50.4% |
| Advances received on contracts in progress | 46 | €2,025 | €8,875 | +€6,850 | +338% |
| Taxes, remuneration and social security | 45 | €33,787 | €49,630 | +€15,842 | +46.9% |
| Taxes | 450/3 | €23,456 | €31,875 | +€8,418 | +35.9% |
| Remuneration and social security | 454/9 | €10,331 | €17,755 | +€7,424 | +71.9% |
| Other amounts payable | 47/48 | €2,972 | €150,700 | +€147,728 | +4,970% |
| Accrued charges and deferred income | 492/3 | €812 | €28 | -€783 | -96.5% |
| Non-recurring operating income | 76A | €2,686 | €0 | -€2,686 | -100% |
| Remuneration, social security and pensions | 62 | €103,617 | €128,552 | +€24,935 | +24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,310 | €14,316 | -€2,994 | -17.3% |
| Other operating charges | 640/8 | €1,302 | €1,074 | -€228 | -17.5% |
| Gross operating margin | 9900 | €174,495 | €246,450 | +€71,954 | +41.2% |
| Operating profit (loss) | 9901 | €52,266 | €102,507 | +€50,241 | +96.1% |
| Financial income | 75/76B | €1,955 | €3,094 | +€1,139 | +58.3% |
| Recurring financial income | 75 | €1,955 | €3,094 | +€1,139 | +58.3% |
| Financial charges | 65/66B | €4,951 | €2,929 | -€2,022 | -40.8% |
| Recurring financial charges | 65 | €4,951 | €2,929 | -€2,022 | -40.8% |
| Profit (loss) for the period before taxes | 9903 | €49,270 | €102,672 | +€53,402 | +108% |
| Income taxes | 67/77 | €13,042 | €32,103 | +€19,062 | +146% |
| Profit (loss) for the period | 9904 | €36,228 | €70,568 | +€34,340 | +94.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,228 | €70,568 | +€34,340 | +94.8% |
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 20 October 2026 via checked.be.