PABOCO: 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.
PABOCO
Largest movements
- Cash -€23,818
down €23,818 (-17.8%), from €133,660 to €109,842
mainly Receivables after one year (-€17,500) and Net result for the year (-€16,813)
- Receivables after one year +€17,500
up €17,500 (+3.7%), from €471,458 to €488,958
- Tangible fixed assets -€10,898
down €10,898 (-9.2%), from €118,471 to €107,573
- Reserves -€16,813
down €16,813 (-21.2%), from €79,371 to €62,557
of which Distributable reserves: -€16,813
- Gross operating margin -€25,386
down €25,386, from €6,580 to -€18,806
- Depreciation -€3,469
down €3,469 (-24.1%), from €14,367 to €10,898
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 | €739,410 | €722,899 | -€16,511 | -2.2% |
| Fixed assets | 21/28 | €118,471 | €107,573 | -€10,898 | -9.2% |
| Tangible fixed assets | 22/27 | €118,471 | €107,573 | -€10,898 | -9.2% |
| Land and buildings | 22 | €118,471 | €107,573 | -€10,898 | -9.2% |
| Current assets | 29/58 | €620,939 | €615,326 | -€5,613 | -0.9% |
| Amounts receivable after more than one year | 29 | €471,458 | €488,958 | +€17,500 | +3.7% |
| Other amounts receivable | 291 | €471,458 | €488,958 | +€17,500 | +3.7% |
| Amounts receivable within one year | 40/41 | €14,712 | €14,712 | = | 0.0% |
| Other amounts receivable | 41 | €14,712 | €14,712 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €133,660 | €109,842 | -€23,818 | -17.8% |
| Deferred charges and accrued income | 490/1 | €1,108 | €1,813 | +€705 | +63.7% |
| Total equity and liabilities | 10/49 | €739,410 | €722,899 | -€16,511 | -2.2% |
| Equity | 10/15 | €736,371 | €719,557 | -€16,813 | -2.3% |
| Contributions | 10/11 | €657,000 | €657,000 | = | 0.0% |
| Capital | 10 | €657,000 | €657,000 | = | 0.0% |
| Issued capital | 100 | €657,000 | €657,000 | = | 0.0% |
| Reserves | 13 | €79,371 | €62,557 | -€16,813 | -21.2% |
| Non-distributable reserves | 130/1 | €7,200 | €7,200 | = | 0.0% |
| Legal reserve | 130 | €7,200 | €7,200 | = | 0.0% |
| Distributable reserves | 133 | €72,171 | €55,357 | -€16,813 | -23.3% |
| Amounts payable | 17/49 | €3,039 | €3,342 | +€303 | +10.0% |
| Amounts payable within one year | 42/48 | €3,039 | €3,342 | +€303 | +10.0% |
| Trade debts | 44 | €2,981 | €3,284 | +€303 | +10.1% |
| Suppliers | 440/4 | €2,981 | €3,284 | +€303 | +10.1% |
| Other amounts payable | 47/48 | €58 | €58 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,367 | €10,898 | -€3,469 | -24.1% |
| Other operating charges | 640/8 | €4,184 | €4,314 | +€130 | +3.1% |
| Gross operating margin | 9900 | €6,580 | -€18,806 | -€25,386 | |
| Operating profit (loss) | 9901 | -€11,971 | -€34,017 | -€22,047 | -184% |
| Financial income | 75/76B | €17,503 | €17,500 | -€3 | 0.0% |
| Recurring financial income | 75 | €17,503 | €17,500 | -€3 | 0.0% |
| Financial charges | 65/66B | €121 | €296 | +€175 | +144% |
| Recurring financial charges | 65 | €121 | €296 | +€175 | +144% |
| Profit (loss) for the period before taxes | 9903 | €5,411 | -€16,813 | -€22,224 | |
| Profit (loss) for the period | 9904 | €5,411 | -€16,813 | -€22,224 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,411 | -€16,813 | -€22,224 |
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 26 October 2026 via checked.be.