PAB BRUSSELS: 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.
PAB BRUSSELS
Largest movements
- Receivables within one year -€122,107
down €122,107 (-91.1%), from €133,997 to €11,891
of which Trade receivables: -€103,819
- Tangible fixed assets +€30,065
up €30,065 (+93.9%), from €32,014 to €62,079
of which Furniture and vehicles: +€29,961
- Cash +€27,756
up €27,756 (+748%), from €3,712 to €31,469
mainly Receivables within one year (+€122,107) and Net result for the year (+€37,457)
- Current investments -€3,500
no longer reported in 2025 (was €3,500)
- Financial fixed assets +€2,610
up €2,610 (+49.7%), from €5,254 to €7,864
- Other debts -€104,000
no longer reported in 2025 (was €104,000)
- Profit (loss) carried forward +€37,457
up €37,457 (+197%), from €19,057 to €56,515
- Debts after one year +€8,789
new in 2025: €8,789
- Trade debts -€7,058
down €7,058 (-12.5%), from €56,648 to €49,590
- Tax, wage and social debts -€4,551
down €4,551 (-88.2%), from €5,162 to €611
of which Remuneration and social security: -€4,457
- Turnover +€113,945
up €113,945 (+10.5%), from €1.1m to €1.2m
- Purchases and services +€70,988
up €70,988 (+6.7%), from €1.1m to €1.1m
- Gross operating margin +€42,957
up €42,957 (+164%), from €26,128 to €69,085
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 | €208,590 | €140,534 | -€68,056 | -32.6% |
| Fixed assets | 21/28 | €42,102 | €74,277 | +€32,175 | +76.4% |
| Intangible fixed assets | 21 | €4,833 | €4,333 | -€500 | -10.3% |
| Tangible fixed assets | 22/27 | €32,014 | €62,079 | +€30,065 | +93.9% |
| Plant, machinery and equipment | 23 | €4,790 | €4,894 | +€104 | +2.2% |
| Furniture and vehicles | 24 | €27,224 | €57,185 | +€29,961 | +110% |
| Financial fixed assets | 28 | €5,254 | €7,864 | +€2,610 | +49.7% |
| Current assets | 29/58 | €166,488 | €66,257 | -€100,231 | -60.2% |
| Stocks and contracts in progress | 3 | €22,480 | €20,254 | -€2,225 | -9.9% |
| Stocks | 30/36 | €22,480 | €20,254 | -€2,225 | -9.9% |
| Amounts receivable within one year | 40/41 | €133,997 | €11,891 | -€122,107 | -91.1% |
| Trade receivables | 40 | €104,000 | €181 | -€103,819 | -99.8% |
| Other amounts receivable | 41 | €29,997 | €11,710 | -€18,288 | -61.0% |
| Current investments | 50/53 | €3,500 | - | -€3,500 | |
| Cash at bank and in hand | 54/58 | €3,712 | €31,469 | +€27,756 | +748% |
| Deferred charges and accrued income | 490/1 | €2,799 | €2,644 | -€155 | -5.5% |
| Total equity and liabilities | 10/49 | €208,590 | €140,534 | -€68,056 | -32.6% |
| Equity | 10/15 | €38,319 | €75,776 | +€37,457 | +97.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €662 | €662 | = | 0.0% |
| Non-distributable reserves | 130/1 | €662 | €662 | = | 0.0% |
| Reserves not available under the articles | 1311 | €662 | €662 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,057 | €56,515 | +€37,457 | +197% |
| Amounts payable | 17/49 | €170,271 | €64,758 | -€105,513 | -62.0% |
| Amounts payable after more than one year | 17 | - | €8,789 | +€8,789 | |
| Financial debts | 170/4 | - | €8,789 | +€8,789 | |
| Amounts payable within one year | 42/48 | €170,271 | €55,969 | -€114,302 | -67.1% |
| Current portion of amounts payable after more than one year | 42 | €3,279 | €4,586 | +€1,306 | +39.8% |
| Financial debts | 43 | €1,182 | €1,182 | = | 0.0% |
| Credit institutions | 430/8 | €1,182 | €1,182 | = | 0.0% |
| Trade debts | 44 | €56,648 | €49,590 | -€7,058 | -12.5% |
| Suppliers | 440/4 | €56,648 | €49,590 | -€7,058 | -12.5% |
| Taxes, remuneration and social security | 45 | €5,162 | €611 | -€4,551 | -88.2% |
| Taxes | 450/3 | €94 | - | -€94 | |
| Remuneration and social security | 454/9 | €5,068 | €611 | -€4,457 | -87.9% |
| Other amounts payable | 47/48 | €104,000 | - | -€104,000 | |
| Turnover | 70 | €1,086,271 | €1,200,216 | +€113,945 | +10.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,060,143 | €1,131,131 | +€70,988 | +6.7% |
| Remuneration, social security and pensions | 62 | €7,997 | €8,901 | +€903 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,907 | €17,406 | +€6,499 | +59.6% |
| Other operating charges | 640/8 | €8,839 | €6,901 | -€1,939 | -21.9% |
| Gross operating margin | 9900 | €26,128 | €69,085 | +€42,957 | +164% |
| Operating profit (loss) | 9901 | -€1,616 | €35,878 | +€37,493 | |
| Financial income | 75/76B | €24 | €4,796 | +€4,772 | +19,636% |
| Recurring financial income | 75 | €24 | €38 | +€14 | +55.6% |
| Non-recurring financial income | 76B | - | €4,758 | +€4,758 | |
| Financial charges | 65/66B | €340 | €2,036 | +€1,695 | +498% |
| Recurring financial charges | 65 | €340 | €2,036 | +€1,695 | +498% |
| Profit (loss) for the period before taxes | 9903 | -€1,932 | €38,638 | +€40,570 | |
| Income taxes | 67/77 | €7,203 | €1,181 | -€6,022 | -83.6% |
| Profit (loss) for the period | 9904 | -€9,135 | €37,457 | +€46,592 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,135 | €37,457 | +€46,592 |
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 17 October 2026 via checked.be.