PACACARS: 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.
PACACARS
Largest movements
- Receivables within one year -€66,640
down €66,640 (-58.6%), from €113,727 to €47,087
of which Trade receivables: -€78,935
- Cash +€29,489
up €29,489 (+60.8%), from €48,520 to €78,008
mainly Receivables within one year (+€66,640) and Depreciation (+€44,505)
- Tangible fixed assets -€8,660
down €8,660 (-7.8%), from €110,633 to €101,973
of which Furniture and vehicles: -€17,795
- Trade debts -€20,254
down €20,254 (-84.7%), from €23,908 to €3,654
- Debts after one year -€17,227
down €17,227 (-40.0%), from €43,054 to €25,826
- Other debts -€13,500
no longer reported in 2025 (was €13,500)
- Tax, wage and social debts +€11,258
up €11,258 (+28.1%), from €40,066 to €51,325
of which Taxes: +€14,214
- Profit (loss) carried forward -€5,145
down €5,145 (-4.2%), from €122,010 to €116,865
- Gross operating margin -€69,327
down €69,327 (-19.8%), from €350,710 to €281,383
- Taxes -€25,152
down €25,152 (-89.3%), from €28,178 to €3,026
- Staff costs +€17,962
up €17,962 (+8.7%), from €207,509 to €225,471
- Depreciation +€9,561
up €9,561 (+27.4%), from €34,944 to €44,505
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 | €276,838 | €230,978 | -€45,859 | -16.6% |
| Fixed assets | 21/28 | €112,828 | €104,168 | -€8,660 | -7.7% |
| Tangible fixed assets | 22/27 | €110,633 | €101,973 | -€8,660 | -7.8% |
| Plant, machinery and equipment | 23 | €6,137 | €5,768 | -€369 | -6.0% |
| Furniture and vehicles | 24 | €72,231 | €54,437 | -€17,795 | -24.6% |
| Leasing and similar rights | 25 | €28,439 | €38,571 | +€10,132 | +35.6% |
| Other tangible fixed assets | 26 | €3,825 | €3,197 | -€628 | -16.4% |
| Financial fixed assets | 28 | €2,195 | €2,195 | = | 0.0% |
| Current assets | 29/58 | €164,010 | €126,811 | -€37,199 | -22.7% |
| Amounts receivable within one year | 40/41 | €113,727 | €47,087 | -€66,640 | -58.6% |
| Trade receivables | 40 | €104,501 | €25,566 | -€78,935 | -75.5% |
| Other amounts receivable | 41 | €9,226 | €21,521 | +€12,295 | +133.3% |
| Cash at bank and in hand | 54/58 | €48,520 | €78,008 | +€29,489 | +60.8% |
| Deferred charges and accrued income | 490/1 | €1,763 | €1,715 | -€48 | -2.7% |
| Total equity and liabilities | 10/49 | €276,838 | €230,978 | -€45,859 | -16.6% |
| Equity | 10/15 | €122,110 | €116,965 | -€5,145 | -4.2% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €122,010 | €116,865 | -€5,145 | -4.2% |
| Amounts payable | 17/49 | €154,727 | €114,013 | -€40,714 | -26.3% |
| Amounts payable after more than one year | 17 | €43,054 | €25,826 | -€17,227 | -40.0% |
| Financial debts | 170/4 | €43,054 | €25,826 | -€17,227 | -40.0% |
| Amounts payable within one year | 42/48 | €111,674 | €88,187 | -€23,487 | -21.0% |
| Current portion of amounts payable after more than one year | 42 | €34,199 | €33,208 | -€991 | -2.9% |
| Trade debts | 44 | €23,908 | €3,654 | -€20,254 | -84.7% |
| Suppliers | 440/4 | €23,908 | €3,654 | -€20,254 | -84.7% |
| Taxes, remuneration and social security | 45 | €40,066 | €51,325 | +€11,258 | +28.1% |
| Taxes | 450/3 | €15,444 | €29,658 | +€14,214 | +92.0% |
| Remuneration and social security | 454/9 | €24,622 | €21,667 | -€2,955 | -12.0% |
| Other amounts payable | 47/48 | €13,500 | - | -€13,500 | |
| Non-recurring operating income | 76A | - | €4,680 | +€4,680 | |
| Remuneration, social security and pensions | 62 | €207,509 | €225,471 | +€17,962 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,944 | €44,505 | +€9,561 | +27.4% |
| Other operating charges | 640/8 | €6,640 | €6,051 | -€589 | -8.9% |
| Non-recurring operating charges | 66A | - | €2,500 | +€2,500 | |
| Gross operating margin | 9900 | €350,710 | €281,383 | -€69,327 | -19.8% |
| Operating profit (loss) | 9901 | €101,618 | €2,857 | -€98,761 | -97.2% |
| Financial income | 75/76B | €110 | €515 | +€405 | +368.5% |
| Recurring financial income | 75 | €110 | €515 | +€405 | +368.5% |
| Financial charges | 65/66B | €5,581 | €5,490 | -€91 | -1.6% |
| Recurring financial charges | 65 | €5,581 | €5,490 | -€91 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €96,147 | -€2,119 | -€98,265 | |
| Income taxes | 67/77 | €28,178 | €3,026 | -€25,152 | -89.3% |
| Profit (loss) for the period | 9904 | €67,968 | -€5,145 | -€73,113 | |
| Profit (loss) for the period to be appropriated | 9905 | €67,968 | -€5,145 | -€73,113 |
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 7 October 2026 via checked.be.