P A F: 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.
P A F
Largest movements
- Tangible fixed assets -€4,152
down €4,152 (-34.9%), from €11,886 to €7,734
- Cash +€2,612
up €2,612 (+170%), from €1,541 to €4,153
mainly Depreciation (+€4,152) and Other debts (+€2,951)
- Receivables within one year -€1,154
down €1,154 (-51.2%), from €2,253 to €1,099
- Profit (loss) carried forward -€5,440
down €5,440 (-14.1%), from -€38,540 to -€43,980
- Other debts +€2,951
up €2,951 (+75.5%), from €3,909 to €6,860
- Tax, wage and social debts -€196
down €196 (-27.7%), from €705 to €510
- Gross operating margin -€2,411
down €2,411, from €1,761 to -€650
- Depreciation -€166
down €166 (-3.8%), from €4,318 to €4,152
- Financial charges +€19
up €19 (+14.4%), from €132 to €151
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 | €16,819 | €14,164 | -€2,655 | -15.8% |
| Fixed assets | 21/28 | €11,886 | €7,734 | -€4,152 | -34.9% |
| Tangible fixed assets | 22/27 | €11,886 | €7,734 | -€4,152 | -34.9% |
| Furniture and vehicles | 24 | €11,886 | €7,734 | -€4,152 | -34.9% |
| Current assets | 29/58 | €4,933 | €6,431 | +€1,498 | +30.4% |
| Amounts receivable within one year | 40/41 | €2,253 | €1,099 | -€1,154 | -51.2% |
| Trade receivables | 40 | €2,253 | €1,099 | -€1,154 | -51.2% |
| Cash at bank and in hand | 54/58 | €1,541 | €4,153 | +€2,612 | +170% |
| Deferred charges and accrued income | 490/1 | €1,139 | €1,178 | +€40 | +3.5% |
| Total equity and liabilities | 10/49 | €16,819 | €14,164 | -€2,655 | -15.8% |
| Equity | 10/15 | -€18,135 | -€23,575 | -€5,440 | -30.0% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,540 | -€43,980 | -€5,440 | -14.1% |
| Amounts payable | 17/49 | €34,954 | €37,739 | +€2,785 | +8.0% |
| Amounts payable after more than one year | 17 | €30,000 | €30,000 | = | 0.0% |
| Other amounts payable | 178/9 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,875 | €7,643 | +€2,768 | +56.8% |
| Trade debts | 44 | €261 | €273 | +€12 | +4.6% |
| Suppliers | 440/4 | €261 | €273 | +€12 | +4.6% |
| Taxes, remuneration and social security | 45 | €705 | €510 | -€196 | -27.7% |
| Taxes | 450/3 | €705 | €510 | -€196 | -27.7% |
| Other amounts payable | 47/48 | €3,909 | €6,860 | +€2,951 | +75.5% |
| Accrued charges and deferred income | 492/3 | €79 | €96 | +€17 | +22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,318 | €4,152 | -€166 | -3.8% |
| Other operating charges | 640/8 | €475 | €487 | +€12 | +2.5% |
| Gross operating margin | 9900 | €1,761 | -€650 | -€2,411 | |
| Operating profit (loss) | 9901 | -€3,033 | -€5,289 | -€2,256 | -74.4% |
| Financial charges | 65/66B | €132 | €151 | +€19 | +14.4% |
| Recurring financial charges | 65 | €132 | €151 | +€19 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,165 | -€5,440 | -€2,275 | -71.9% |
| Profit (loss) for the period | 9904 | -€3,165 | -€5,440 | -€2,275 | -71.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,165 | -€5,440 | -€2,275 | -71.9% |
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 19 October 2026 via checked.be.