PAA - ORL: what changed
Two fiscal 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.
PAA - ORL
Largest movements
- Receivables within one year +€148,769
new in 2025: €148,769
- Cash -€38,617
down €38,617 (-48.8%), from €79,214 to €40,596
mainly Receivables within one year (-€148,769) and Debts after one year (-€12,141)
- Tangible fixed assets -€21,347
down €21,347 (-53.4%), from €39,967 to €18,620
- Reserves +€188,026
new in 2025: €188,026
- Profit (loss) carried forward -€89,010
down €89,010 (-100.0%), from €89,010 to €0
- Debts after one year -€12,141
down €12,141 (-36.3%), from €33,470 to €21,329
- Tax, wage and social debts +€6,803
up €6,803 (+26.4%), from €25,811 to €32,614
- Other debts -€6,698
no longer reported in 2025 (was €6,698)
- Gross operating margin +€15,475
up €15,475 (+11.3%), from €136,580 to €152,055
- Taxes +€6,879
up €6,879 (+29.9%), from €22,986 to €29,865
- Financial income +€4,261
up €4,261 (+2367022.2%), from €0 to €4,261
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.
Cash bridge derived
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 | €172,311 | €262,496 | +€90,185 | +52.3% |
| Fixed assets | 21/28 | €39,967 | €18,620 | -€21,347 | -53.4% |
| Tangible fixed assets | 22/27 | €39,967 | €18,620 | -€21,347 | -53.4% |
| Furniture and vehicles | 24 | €39,967 | €18,620 | -€21,347 | -53.4% |
| Current assets | 29/58 | €132,344 | €243,876 | +€111,532 | +84.3% |
| Amounts receivable within one year | 40/41 | - | €148,769 | +€148,769 | |
| Other amounts receivable | 41 | - | €148,769 | +€148,769 | |
| Cash at bank and in hand | 54/58 | €79,214 | €40,596 | -€38,617 | -48.8% |
| Deferred charges and accrued income | 490/1 | €53,130 | €54,511 | +€1,381 | +2.6% |
| Total equity and liabilities | 10/49 | €172,311 | €262,496 | +€90,185 | +52.3% |
| Equity | 10/15 | €94,010 | €193,026 | +€99,016 | +105.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €188,026 | +€188,026 | |
| Distributable reserves | 133 | - | €188,026 | +€188,026 | |
| Profit (loss) carried forward | 14 | €89,010 | €0 | -€89,010 | -100.0% |
| Amounts payable | 17/49 | €78,301 | €69,470 | -€8,831 | -11.3% |
| Amounts payable after more than one year | 17 | €33,470 | €21,329 | -€12,141 | -36.3% |
| Financial debts | 170/4 | €33,470 | €21,329 | -€12,141 | -36.3% |
| Amounts payable within one year | 42/48 | €44,830 | €48,141 | +€3,311 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | €11,673 | €12,141 | +€469 | +4.0% |
| Trade debts | 44 | €649 | €3,386 | +€2,737 | +421.8% |
| Suppliers | 440/4 | €649 | €3,386 | +€2,737 | +421.8% |
| Taxes, remuneration and social security | 45 | €25,811 | €32,614 | +€6,803 | +26.4% |
| Taxes | 450/3 | €25,811 | €32,614 | +€6,803 | +26.4% |
| Other amounts payable | 47/48 | €6,698 | - | -€6,698 | |
| Remuneration, social security and pensions | 62 | €132 | - | -€132 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,431 | €24,990 | +€559 | +2.3% |
| Other operating charges | 640/8 | €682 | €701 | +€18 | +2.7% |
| Gross operating margin | 9900 | €136,580 | €152,055 | +€15,475 | +11.3% |
| Operating profit (loss) | 9901 | €111,335 | €126,365 | +€15,030 | +13.5% |
| Financial income | 75/76B | €0 | €4,261 | +€4,261 | +2367022.2% |
| Recurring financial income | 75 | €0 | €4,261 | +€4,261 | +2367022.2% |
| Financial charges | 65/66B | €2,185 | €1,745 | -€440 | -20.1% |
| Recurring financial charges | 65 | €2,185 | €1,745 | -€440 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €109,150 | €128,881 | +€19,730 | +18.1% |
| Income taxes | 67/77 | €22,986 | €29,865 | +€6,879 | +29.9% |
| Profit (loss) for the period | 9904 | €86,164 | €99,016 | +€12,851 | +14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €86,164 | €99,016 | +€12,851 | +14.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.