Pace4: 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.
Pace4
Largest movements
- Cash -€123,414
down €123,414 (-20.4%), from €605,356 to €481,941
mainly Contributions, distributions and other (-€409,855) and Provisions (-€78,311)
- Receivables within one year -€63,902
down €63,902 (-72.2%), from €88,540 to €24,637
of which Other amounts receivable: -€35,076
- Reserves -€107,867
down €107,867 (-18.9%), from €571,911 to €464,044
- Provisions -€78,311
no longer reported in 2025 (was €78,311)
- Tax, wage and social debts +€15,111
up €15,111 (+100%), from €15,088 to €30,199
- Other debts -€12,746
down €12,746 (-87.0%), from €14,654 to €1,908
- Gross operating margin +€286,532
up €286,532 (+162%), from €176,509 to €463,041
- Provisions -€156,621
down €156,621, from €78,311 to -€78,311
- Taxes +€115,524
up €115,524 (+545%), from €21,209 to €136,733
- Financial charges +€96,791
up €96,791 (+51,838%), from €187 to €96,978
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 | €702,898 | €520,099 | -€182,799 | -26.0% |
| Fixed assets | 21/28 | €4,616 | €8,871 | +€4,256 | +92.2% |
| Tangible fixed assets | 22/27 | €4,572 | €8,828 | +€4,256 | +93.1% |
| Furniture and vehicles | 24 | €2,561 | €7,215 | +€4,654 | +182% |
| Other tangible fixed assets | 26 | €2,012 | €1,613 | -€399 | -19.8% |
| Financial fixed assets | 28 | €43 | €43 | = | 0.0% |
| Current assets | 29/58 | €698,283 | €511,227 | -€187,055 | -26.8% |
| Amounts receivable within one year | 40/41 | €88,540 | €24,637 | -€63,902 | -72.2% |
| Trade receivables | 40 | €35,149 | €6,322 | -€28,827 | -82.0% |
| Other amounts receivable | 41 | €53,391 | €18,315 | -€35,076 | -65.7% |
| Cash at bank and in hand | 54/58 | €605,356 | €481,941 | -€123,414 | -20.4% |
| Deferred charges and accrued income | 490/1 | €4,387 | €4,649 | +€261 | +6.0% |
| Total equity and liabilities | 10/49 | €702,898 | €520,099 | -€182,799 | -26.0% |
| Equity | 10/15 | €591,511 | €483,644 | -€107,867 | -18.2% |
| Contributions | 10/11 | €19,600 | €19,600 | = | 0.0% |
| Reserves | 13 | €571,911 | €464,044 | -€107,867 | -18.9% |
| Distributable reserves | 133 | €571,911 | €464,044 | -€107,867 | -18.9% |
| Provisions and deferred taxes | 16 | €78,311 | - | -€78,311 | |
| Deferred taxes | 168 | €78,311 | - | -€78,311 | |
| Amounts payable | 17/49 | €33,076 | €36,455 | +€3,378 | +10.2% |
| Amounts payable within one year | 42/48 | €33,076 | €36,455 | +€3,378 | +10.2% |
| Trade debts | 44 | €3,334 | €4,348 | +€1,013 | +30.4% |
| Suppliers | 440/4 | €3,334 | €4,348 | +€1,013 | +30.4% |
| Taxes, remuneration and social security | 45 | €15,088 | €30,199 | +€15,111 | +100% |
| Taxes | 450/3 | €15,088 | €30,199 | +€15,111 | +100% |
| Other amounts payable | 47/48 | €14,654 | €1,908 | -€12,746 | -87.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,528 | €4,903 | +€2,375 | +93.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €78,311 | -€78,311 | -€156,621 | |
| Other operating charges | 640/8 | €722 | €749 | +€27 | +3.8% |
| Gross operating margin | 9900 | €176,509 | €463,041 | +€286,532 | +162% |
| Operating profit (loss) | 9901 | €94,948 | €535,700 | +€440,751 | +464% |
| Financial income | 75/76B | €16 | - | -€16 | |
| Recurring financial income | 75 | €16 | - | -€16 | |
| Financial charges | 65/66B | €187 | €96,978 | +€96,791 | +51,838% |
| Recurring financial charges | 65 | €187 | €96,978 | +€96,791 | +51,838% |
| Profit (loss) for the period before taxes | 9903 | €94,778 | €438,722 | +€343,944 | +363% |
| Income taxes | 67/77 | €21,209 | €136,733 | +€115,524 | +545% |
| Profit (loss) for the period | 9904 | €73,568 | €301,988 | +€228,420 | +310% |
| Profit (loss) for the period to be appropriated | 9905 | €73,568 | €301,988 | +€228,420 | +310% |
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 14 October 2026 via checked.be.