PACALY: 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.
PACALY
Largest movements
- Cash -€42,625
down €42,625 (-48.4%), from €88,055 to €45,431
mainly Debts after one year (-€37,785) and Net result for the year (-€13,425)
- Tangible fixed assets -€27,998
down €27,998 (-26.3%), from €106,374 to €78,376
of which Land and buildings: -€14,172
- Receivables within one year -€13,703
down €13,703 (-48.5%), from €28,263 to €14,560
of which Trade receivables: -€14,127
- Debts after one year -€37,785
down €37,785 (-11.7%), from €322,976 to €285,191
of which Other amounts payable: -€29,300
- Profit (loss) carried forward -€13,377
down €13,377 (-5.3%), from -€252,136 to -€265,513
- Tax, wage and social debts -€12,713
down €12,713 (-79.7%), from €15,944 to €3,231
of which Remuneration and social security: -€7,629
- Trade debts -€12,252
down €12,252 (-50.7%), from €24,179 to €11,927
- Current portion of long-term debt -€5,732
down €5,732 (-40.3%), from €14,217 to €8,485
- Gross operating margin -€60,746
down €60,746 (-75.0%), from €81,038 to €20,292
- Staff costs -€30,328
down €30,328 (-96.8%), from €31,323 to €996
- Financial charges -€3,474
down €3,474 (-78.9%), from €4,401 to €927
- Other operating charges -€2,017
down €2,017 (-24.7%), from €8,164 to €6,147
- Depreciation -€1,549
down €1,549 (-5.2%), from €29,548 to €27,998
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 | €352,618 | €271,713 | -€80,905 | -22.9% |
| Fixed assets | 21/28 | €107,274 | €79,276 | -€27,998 | -26.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €106,374 | €78,376 | -€27,998 | -26.3% |
| Land and buildings | 22 | €71,057 | €56,885 | -€14,172 | -19.9% |
| Plant, machinery and equipment | 23 | €3,713 | €2,132 | -€1,581 | -42.6% |
| Furniture and vehicles | 24 | €31,605 | €19,359 | -€12,246 | -38.7% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €245,344 | €192,437 | -€52,907 | -21.6% |
| Stocks and contracts in progress | 3 | €27,895 | €31,105 | +€3,210 | +11.5% |
| Stocks | 30/36 | €27,895 | €31,105 | +€3,210 | +11.5% |
| Amounts receivable within one year | 40/41 | €28,263 | €14,560 | -€13,703 | -48.5% |
| Trade receivables | 40 | €28,110 | €13,983 | -€14,127 | -50.3% |
| Other amounts receivable | 41 | €154 | €578 | +€424 | +276% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €88,055 | €45,431 | -€42,625 | -48.4% |
| Deferred charges and accrued income | 490/1 | €1,130 | €1,341 | +€211 | +18.7% |
| Total equity and liabilities | 10/49 | €352,618 | €271,713 | -€80,905 | -22.9% |
| Equity | 10/15 | -€32,916 | -€46,293 | -€13,377 | -40.6% |
| Contributions | 10/11 | €218,600 | €218,600 | = | 0.0% |
| Reserves | 13 | €620 | €620 | = | 0.0% |
| Distributable reserves | 133 | €620 | €620 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€252,136 | -€265,513 | -€13,377 | -5.3% |
| Amounts payable | 17/49 | €385,534 | €318,006 | -€67,528 | -17.5% |
| Amounts payable after more than one year | 17 | €322,976 | €285,191 | -€37,785 | -11.7% |
| Financial debts | 170/4 | €8,485 | - | -€8,485 | |
| Other amounts payable | 178/9 | €314,491 | €285,191 | -€29,300 | -9.3% |
| Amounts payable within one year | 42/48 | €62,558 | €32,814 | -€29,744 | -47.5% |
| Current portion of amounts payable after more than one year | 42 | €14,217 | €8,485 | -€5,732 | -40.3% |
| Trade debts | 44 | €24,179 | €11,927 | -€12,252 | -50.7% |
| Suppliers | 440/4 | €24,179 | €11,927 | -€12,252 | -50.7% |
| Taxes, remuneration and social security | 45 | €15,944 | €3,231 | -€12,713 | -79.7% |
| Taxes | 450/3 | €8,314 | €3,231 | -€5,083 | -61.1% |
| Remuneration and social security | 454/9 | €7,629 | - | -€7,629 | |
| Other amounts payable | 47/48 | €8,219 | €9,172 | +€953 | +11.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €31,323 | €996 | -€30,328 | -96.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,548 | €27,998 | -€1,549 | -5.2% |
| Other operating charges | 640/8 | €8,164 | €6,147 | -€2,017 | -24.7% |
| Gross operating margin | 9900 | €81,038 | €20,292 | -€60,746 | -75.0% |
| Operating profit (loss) | 9901 | €12,003 | -€14,849 | -€26,852 | |
| Financial income | 75/76B | €2,096 | €2,534 | +€438 | +20.9% |
| Recurring financial income | 75 | €2,096 | €2,534 | +€438 | +20.9% |
| Financial charges | 65/66B | €4,401 | €927 | -€3,474 | -78.9% |
| Recurring financial charges | 65 | €4,401 | €927 | -€3,474 | -78.9% |
| Profit (loss) for the period before taxes | 9903 | €9,698 | -€13,242 | -€22,940 | |
| Income taxes | 67/77 | €313 | €182 | -€131 | -41.7% |
| Profit (loss) for the period | 9904 | €9,385 | -€13,425 | -€22,810 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,385 | -€13,425 | -€22,810 |
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 13 October 2026 via checked.be.