Pa BX MANAGEMENT: 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.
Pa BX MANAGEMENT
Largest movements
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Stocks and contracts +€96,057
up €96,057 (+490%), from €19,587 to €115,643
- Receivables within one year +€67,369
up €67,369 (+56.4%), from €119,438 to €186,807
of which Trade receivables: +€37,721
- Cash +€49,143
up €49,143 (+11.7%), from €419,253 to €468,396
mainly Net result for the year (+€125,250) and Current investments (+€100,000)
- Profit (loss) carried forward +€125,250
up €125,250 (+21.2%), from €591,869 to €717,118
- Accrued charges and deferred income -€10,175
down €10,175 (-91.4%), from €11,134 to €959
- Other debts -€7,976
down €7,976 (-50.6%), from €15,769 to €7,794
- Gross operating margin +€35,139
up €35,139 (+27.0%), from €130,325 to €165,464
- Taxes +€10,513
up €10,513 (+33.5%), from €31,356 to €41,869
- Financial charges -€10,208
down €10,208 (-82.5%), from €12,366 to €2,158
- Financial income -€2,691
down €2,691 (-37.4%), from €7,197 to €4,506
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 | €660,690 | €771,124 | +€110,434 | +16.7% |
| Current assets | 29/58 | €660,690 | €771,124 | +€110,434 | +16.7% |
| Stocks and contracts in progress | 3 | €19,587 | €115,643 | +€96,057 | +490% |
| Stocks | 30/36 | €19,587 | €115,643 | +€96,057 | +490% |
| Amounts receivable within one year | 40/41 | €119,438 | €186,807 | +€67,369 | +56.4% |
| Trade receivables | 40 | €31,372 | €69,093 | +€37,721 | +120% |
| Other amounts receivable | 41 | €88,066 | €117,714 | +€29,648 | +33.7% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €419,253 | €468,396 | +€49,143 | +11.7% |
| Deferred charges and accrued income | 490/1 | €2,412 | €278 | -€2,134 | -88.5% |
| Total equity and liabilities | 10/49 | €660,690 | €771,124 | +€110,434 | +16.7% |
| Equity | 10/15 | €612,329 | €737,578 | +€125,250 | +20.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €591,869 | €717,118 | +€125,250 | +21.2% |
| Amounts payable | 17/49 | €48,361 | €33,545 | -€14,816 | -30.6% |
| Amounts payable within one year | 42/48 | €37,227 | €32,586 | -€4,641 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €13,088 | €18,130 | +€5,043 | +38.5% |
| Trade debts | 44 | €3,124 | €220 | -€2,904 | -93.0% |
| Suppliers | 440/4 | €3,124 | €220 | -€2,904 | -93.0% |
| Taxes, remuneration and social security | 45 | €5,246 | €6,442 | +€1,196 | +22.8% |
| Taxes | 450/3 | €5,246 | €6,442 | +€1,196 | +22.8% |
| Other amounts payable | 47/48 | €15,769 | €7,794 | -€7,976 | -50.6% |
| Accrued charges and deferred income | 492/3 | €11,134 | €959 | -€10,175 | -91.4% |
| Other operating charges | 640/8 | €679 | €693 | +€14 | +2.0% |
| Gross operating margin | 9900 | €130,325 | €165,464 | +€35,139 | +27.0% |
| Operating profit (loss) | 9901 | €129,646 | €164,771 | +€35,125 | +27.1% |
| Financial income | 75/76B | €7,197 | €4,506 | -€2,691 | -37.4% |
| Recurring financial income | 75 | €7,197 | €4,506 | -€2,691 | -37.4% |
| Financial charges | 65/66B | €12,366 | €2,158 | -€10,208 | -82.5% |
| Recurring financial charges | 65 | €12,366 | €2,158 | -€10,208 | -82.5% |
| Profit (loss) for the period before taxes | 9903 | €124,478 | €167,119 | +€42,641 | +34.3% |
| Income taxes | 67/77 | €31,356 | €41,869 | +€10,513 | +33.5% |
| Profit (loss) for the period | 9904 | €93,122 | €125,250 | +€32,128 | +34.5% |
| Profit (loss) for the period to be appropriated | 9905 | €93,122 | €125,250 | +€32,128 | +34.5% |
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 31 October 2026 via checked.be.