PACE PACK: 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.
PACE PACK
Largest movements
- Cash -€13,769
down €13,769 (-20.6%), from €66,880 to €53,111
mainly Other debts (-€37,393) and Tax, wage and social debts (-€12,642)
- Receivables within one year +€7,685
up €7,685 (+28.0%), from €27,481 to €35,167
of which Trade receivables: +€5,400
- Tangible fixed assets -€2,122
down €2,122 (-27.9%), from €7,613 to €5,491
- Deferred charges and accrued income +€1,400
up €1,400 (+47.1%), from €2,972 to €4,372
- Other debts -€37,393
down €37,393 (-93.5%), from €40,000 to €2,607
- Reserves +€33,788
up €33,788 (+225%), from €15,000 to €48,788
- Tax, wage and social debts -€12,642
down €12,642 (-100.0%), from €12,645 to €3
of which Taxes: -€11,142
- Trade debts +€9,442
up €9,442 (+193%), from €4,881 to €14,323
- Gross operating margin -€13,582
down €13,582 (-20.5%), from €66,373 to €52,791
- Taxes +€3,091
up €3,091 (+23.7%), from €13,017 to €16,108
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 | €104,946 | €98,141 | -€6,805 | -6.5% |
| Fixed assets | 21/28 | €7,613 | €5,491 | -€2,122 | -27.9% |
| Tangible fixed assets | 22/27 | €7,613 | €5,491 | -€2,122 | -27.9% |
| Land and buildings | 22 | €7,613 | €5,491 | -€2,122 | -27.9% |
| Current assets | 29/58 | €97,334 | €92,650 | -€4,683 | -4.8% |
| Amounts receivable within one year | 40/41 | €27,481 | €35,167 | +€7,685 | +28.0% |
| Trade receivables | 40 | €15,921 | €21,322 | +€5,400 | +33.9% |
| Other amounts receivable | 41 | €11,560 | €13,845 | +€2,285 | +19.8% |
| Cash at bank and in hand | 54/58 | €66,880 | €53,111 | -€13,769 | -20.6% |
| Deferred charges and accrued income | 490/1 | €2,972 | €4,372 | +€1,400 | +47.1% |
| Total equity and liabilities | 10/49 | €104,946 | €98,141 | -€6,805 | -6.5% |
| Equity | 10/15 | €47,421 | €81,208 | +€33,788 | +71.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €1,000 | +€1,000 | |
| Other | 1109/19 | - | €1,000 | +€1,000 | |
| Reserves | 13 | €15,000 | €48,788 | +€33,788 | +225% |
| Distributable reserves | 133 | €15,000 | €48,788 | +€33,788 | +225% |
| Profit (loss) carried forward | 14 | €31,421 | €31,421 | = | 0.0% |
| Amounts payable | 17/49 | €57,526 | €16,933 | -€40,593 | -70.6% |
| Amounts payable within one year | 42/48 | €57,526 | €16,933 | -€40,593 | -70.6% |
| Trade debts | 44 | €4,881 | €14,323 | +€9,442 | +193% |
| Suppliers | 440/4 | €4,881 | €14,323 | +€9,442 | +193% |
| Taxes, remuneration and social security | 45 | €12,645 | €3 | -€12,642 | -100.0% |
| Taxes | 450/3 | €11,145 | €3 | -€11,142 | -100.0% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €40,000 | €2,607 | -€37,393 | -93.5% |
| Remuneration, social security and pensions | 62 | - | €51 | +€51 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,318 | €2,122 | -€196 | -8.5% |
| Other operating charges | 640/8 | €619 | €632 | +€12 | +2.0% |
| Gross operating margin | 9900 | €66,373 | €52,791 | -€13,582 | -20.5% |
| Operating profit (loss) | 9901 | €63,435 | €49,986 | -€13,449 | -21.2% |
| Financial income | 75/76B | - | €17 | +€17 | |
| Recurring financial income | 75 | - | €17 | +€17 | |
| Financial charges | 65/66B | €113 | €107 | -€6 | -4.9% |
| Recurring financial charges | 65 | €113 | €107 | -€6 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €63,322 | €49,896 | -€13,427 | -21.2% |
| Income taxes | 67/77 | €13,017 | €16,108 | +€3,091 | +23.7% |
| Profit (loss) for the period | 9904 | €50,305 | €33,788 | -€16,517 | -32.8% |
| Profit (loss) for the period to be appropriated | 9905 | €50,305 | €33,788 | -€16,517 | -32.8% |
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 25 October 2026 via checked.be.