P&A PARTNERS: 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 PARTNERS
Largest movements
- Cash +€41,451
up €41,451 (+48.2%), from €85,998 to €127,449
mainly Net result for the year (+€134,576) and Debts after one year (+€28,393)
- Tangible fixed assets -€21,798
down €21,798 (-20.6%), from €105,742 to €83,944
of which Furniture and vehicles: -€15,004
- Receivables within one year +€18,969
up €18,969 (+31.6%), from €60,120 to €79,089
of which Trade receivables: +€25,037
- Stocks and contracts -€16,852
down €16,852 (-5.4%), from €309,908 to €293,056
- Trade debts -€52,903
down €52,903 (-59.4%), from €89,088 to €36,185
of which Suppliers: -€54,403
- Debts after one year +€28,393
new in 2025: €28,393
- Tax, wage and social debts +€23,247
up €23,247 (+36.5%), from €63,655 to €86,901
of which Taxes: +€12,488
- Current portion of long-term debt +€21,421
up €21,421 (+1,250%), from €1,714 to €23,136
- Profit (loss) carried forward +€12,624
up €12,624 (+29.5%), from €42,778 to €55,402
- Gross operating margin +€179,785
up €179,785 (+103%), from €175,310 to €355,095
- Taxes +€43,410
up €43,410 (+1,559%), from €2,784 to €46,194
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 | €564,822 | €587,348 | +€22,526 | +4.0% |
| Fixed assets | 21/28 | €105,792 | €83,994 | -€21,798 | -20.6% |
| Tangible fixed assets | 22/27 | €105,742 | €83,944 | -€21,798 | -20.6% |
| Plant, machinery and equipment | 23 | €62,456 | €54,763 | -€7,693 | -12.3% |
| Furniture and vehicles | 24 | €39,205 | €24,201 | -€15,004 | -38.3% |
| Other tangible fixed assets | 26 | €4,081 | €4,981 | +€899 | +22.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €459,030 | €503,354 | +€44,324 | +9.7% |
| Stocks and contracts in progress | 3 | €309,908 | €293,056 | -€16,852 | -5.4% |
| Stocks | 30/36 | €309,908 | €293,056 | -€16,852 | -5.4% |
| Amounts receivable within one year | 40/41 | €60,120 | €79,089 | +€18,969 | +31.6% |
| Trade receivables | 40 | €38,728 | €63,765 | +€25,037 | +64.6% |
| Other amounts receivable | 41 | €21,392 | €15,324 | -€6,068 | -28.4% |
| Cash at bank and in hand | 54/58 | €85,998 | €127,449 | +€41,451 | +48.2% |
| Deferred charges and accrued income | 490/1 | €3,005 | €3,760 | +€756 | +25.2% |
| Total equity and liabilities | 10/49 | €564,822 | €587,348 | +€22,526 | +4.0% |
| Equity | 10/15 | €61,378 | €74,002 | +€12,624 | +20.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,778 | €55,402 | +€12,624 | +29.5% |
| Amounts payable | 17/49 | €503,445 | €513,346 | +€9,902 | +2.0% |
| Amounts payable after more than one year | 17 | - | €28,393 | +€28,393 | |
| Financial debts | 170/4 | - | €28,393 | +€28,393 | |
| Amounts payable within one year | 42/48 | €503,445 | €484,953 | -€18,492 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €1,714 | €23,136 | +€21,421 | +1,250% |
| Trade debts | 44 | €89,088 | €36,185 | -€52,903 | -59.4% |
| Suppliers | 440/4 | €89,088 | €34,685 | -€54,403 | -61.1% |
| Bills of exchange payable | 441 | - | €1,500 | +€1,500 | |
| Taxes, remuneration and social security | 45 | €63,655 | €86,901 | +€23,247 | +36.5% |
| Taxes | 450/3 | €50,018 | €62,506 | +€12,488 | +25.0% |
| Remuneration and social security | 454/9 | €13,637 | €24,395 | +€10,759 | +78.9% |
| Other amounts payable | 47/48 | €348,987 | €338,731 | -€10,256 | -2.9% |
| Remuneration, social security and pensions | 62 | €133,000 | €135,190 | +€2,189 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,111 | €26,824 | -€288 | -1.1% |
| Other operating charges | 640/8 | €6,606 | €6,339 | -€267 | -4.0% |
| Gross operating margin | 9900 | €175,310 | €355,095 | +€179,785 | +103% |
| Operating profit (loss) | 9901 | €8,592 | €186,743 | +€178,151 | +2,073% |
| Financial income | 75/76B | €45 | €18 | -€27 | -59.1% |
| Recurring financial income | 75 | €45 | €18 | -€27 | -59.1% |
| Financial charges | 65/66B | €4,062 | €5,992 | +€1,930 | +47.5% |
| Recurring financial charges | 65 | €4,062 | €5,992 | +€1,930 | +47.5% |
| Profit (loss) for the period before taxes | 9903 | €4,575 | €180,770 | +€176,194 | +3,851% |
| Income taxes | 67/77 | €2,784 | €46,194 | +€43,410 | +1,559% |
| Profit (loss) for the period | 9904 | €1,792 | €134,576 | +€132,784 | +7,411% |
| Profit (loss) for the period to be appropriated | 9905 | €1,792 | €134,576 | +€132,784 | +7,411% |
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 28 October 2026 via checked.be.