PACE: what changed
What changed
PACE
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€18,487
2024 · -€33,122+€14,635
Equity
€2.1m
2024 · €2.1m-€18,487
Cash
€88,941
2024 · €90,839-€1,898
Balance sheet total
€2.1m
2024 · €2.2m-€18,692
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Gross operating margin +€10,730
up €10,730 (+12.9%), from €83,198 to €93,928
- Staff costs -€6,917
down €6,917 (-6.9%), from €100,105 to €93,188
- Financial income -€5,076
down €5,076 (-47.5%), from €10,692 to €5,616
- Financial charges -€1,138
down €1,138 (-65.5%), from €1,738 to €600
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€33,122
Gross operating margin
+€10,730
Staff costs
+€6,917
Depreciation
+€629
Other operating charges
+€346
Financial income
-€5,076
Financial charges
+€1,138
Taxes
-€48
Result 2025
-€18,487
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€1,898
Investment
€0
Financing
€0
Cash 2024
€90,839
From operations (derived)
-€1,898
Net result for the year
-€18,487
Depreciation
+€18,829
Receivables within one year
-€1,835
Deferred charges and accrued income
-€200
Trade debts
+€975
Tax, wage and social debts
-€1,331
Other debts
+€151
Cash 2025
€88,941
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,162,774 | €2,144,082 | -€18,692 | -0.9% |
| Fixed assets | 21/28 | €461,215 | €442,387 | -€18,829 | -4.1% |
| Tangible fixed assets | 22/27 | €461,215 | €442,387 | -€18,829 | -4.1% |
| Land and buildings | 22 | €459,609 | €441,420 | -€18,189 | -4.0% |
| Furniture and vehicles | 24 | €1,607 | €967 | -€640 | -39.8% |
| Current assets | 29/58 | €1,701,558 | €1,701,695 | +€137 | 0.0% |
| Amounts receivable after more than one year | 29 | €782,500 | €782,500 | = | 0.0% |
| Other amounts receivable | 291 | €782,500 | €782,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €577,742 | €579,578 | +€1,835 | +0.3% |
| Trade receivables | 40 | €21,469 | €21,855 | +€386 | +1.8% |
| Other amounts receivable | 41 | €556,273 | €557,723 | +€1,450 | +0.3% |
| Current investments | 50/53 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €90,839 | €88,941 | -€1,898 | -2.1% |
| Deferred charges and accrued income | 490/1 | €477 | €677 | +€200 | +42.0% |
| Total equity and liabilities | 10/49 | €2,162,774 | €2,144,082 | -€18,692 | -0.9% |
| Equity | 10/15 | €2,114,289 | €2,095,801 | -€18,487 | -0.9% |
| Contributions | 10/11 | €1,259,796 | €1,259,796 | = | 0.0% |
| Reserves | 13 | €854,492 | €836,005 | -€18,487 | -2.2% |
| Distributable reserves | 133 | €854,492 | €836,005 | -€18,487 | -2.2% |
| Amounts payable | 17/49 | €48,485 | €48,281 | -€205 | -0.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €47,435 | €47,231 | -€205 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €19,889 | €20,864 | +€975 | +4.9% |
| Suppliers | 440/4 | €19,889 | €20,864 | +€975 | +4.9% |
| Taxes, remuneration and social security | 45 | €24,011 | €22,681 | -€1,331 | -5.5% |
| Taxes | 450/3 | €9,561 | €6,075 | -€3,486 | -36.5% |
| Remuneration and social security | 454/9 | €14,450 | €16,606 | +€2,156 | +14.9% |
| Other amounts payable | 47/48 | €3,535 | €3,686 | +€151 | +4.3% |
| Accrued charges and deferred income | 492/3 | €1,050 | €1,050 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €100,105 | €93,188 | -€6,917 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,457 | €18,829 | -€629 | -3.2% |
| Other operating charges | 640/8 | €5,526 | €5,180 | -€346 | -6.3% |
| Gross operating margin | 9900 | €83,198 | €93,928 | +€10,730 | +12.9% |
| Operating profit (loss) | 9901 | -€41,890 | -€23,268 | +€18,621 | +44.5% |
| Financial income | 75/76B | €10,692 | €5,616 | -€5,076 | -47.5% |
| Recurring financial income | 75 | €10,692 | €5,616 | -€5,076 | -47.5% |
| Financial charges | 65/66B | €1,738 | €600 | -€1,138 | -65.5% |
| Recurring financial charges | 65 | €1,738 | €600 | -€1,138 | -65.5% |
| Profit (loss) for the period before taxes | 9903 | -€32,935 | -€18,252 | +€14,683 | +44.6% |
| Income taxes | 67/77 | €187 | €235 | +€48 | +26.0% |
| Profit (loss) for the period | 9904 | -€33,122 | -€18,487 | +€14,635 | +44.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,122 | -€18,487 | +€14,635 | +44.2% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.