PaceSetters: 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.
PaceSetters
Largest movements
- Receivables within one year -€299,423
down €299,423 (-83.4%), from €358,865 to €59,442
of which Other amounts receivable: -€292,317
- Financial fixed assets +€225,714
new in 2025: €225,714
- Profit (loss) carried forward -€68,456
down €68,456, from €53 to -€68,403
- Tax, wage and social debts -€4,485
no longer reported in 2025 (was €4,485)
- Financial charges +€62,636
up €62,636 (+60308.0%), from €104 to €62,740
of which Non-recurring financial charges: +€62,634
- Financial income -€7,646
down €7,646 (-78.4%), from €9,756 to €2,110
- Taxes -€4,485
no longer reported in 2025 (was €4,485)
- Gross operating margin +€3,976
up €3,976 (+36.5%), from -€10,901 to -€6,925
- Purchases and services -€3,976
down €3,976 (-36.5%), from €10,901 to €6,925
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 | €363,860 | €289,247 | -€74,614 | -20.5% |
| Fixed assets | 21/28 | - | €225,714 | +€225,714 | |
| Financial fixed assets | 28 | - | €225,714 | +€225,714 | |
| Current assets | 29/58 | €363,860 | €63,532 | -€300,328 | -82.5% |
| Amounts receivable within one year | 40/41 | €358,865 | €59,442 | -€299,423 | -83.4% |
| Trade receivables | 40 | €8,162 | €1,056 | -€7,106 | -87.1% |
| Other amounts receivable | 41 | €350,703 | €58,386 | -€292,317 | -83.4% |
| Cash at bank and in hand | 54/58 | €4,995 | €4,084 | -€911 | -18.2% |
| Deferred charges and accrued income | 490/1 | - | €6 | +€6 | |
| Total equity and liabilities | 10/49 | €363,860 | €289,247 | -€74,614 | -20.5% |
| Equity | 10/15 | €354,243 | €285,787 | -€68,456 | -19.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €292,190 | €292,190 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €285,990 | €285,990 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53 | -€68,403 | -€68,456 | |
| Amounts payable | 17/49 | €9,617 | €3,460 | -€6,158 | -64.0% |
| Amounts payable within one year | 42/48 | €9,617 | €3,460 | -€6,158 | -64.0% |
| Trade debts | 44 | €5,132 | €3,460 | -€1,672 | -32.6% |
| Suppliers | 440/4 | €5,132 | €3,460 | -€1,672 | -32.6% |
| Taxes, remuneration and social security | 45 | €4,485 | - | -€4,485 | |
| Taxes | 450/3 | €4,485 | - | -€4,485 | |
| Goods, raw materials, services and sundry goods | 60/61 | €10,901 | €6,925 | -€3,976 | -36.5% |
| Other operating charges | 640/8 | €809 | €901 | +€91 | +11.3% |
| Non-recurring operating charges | 66A | €30,000 | - | -€30,000 | |
| Gross operating margin | 9900 | -€10,901 | -€6,925 | +€3,976 | +36.5% |
| Operating profit (loss) | 9901 | -€41,711 | -€7,826 | +€33,885 | +81.2% |
| Financial income | 75/76B | €9,756 | €2,110 | -€7,646 | -78.4% |
| Recurring financial income | 75 | €9,756 | €2,110 | -€7,646 | -78.4% |
| Financial charges | 65/66B | €104 | €62,740 | +€62,636 | +60308.0% |
| Recurring financial charges | 65 | €104 | €106 | +€2 | +1.7% |
| Non-recurring financial charges | 66B | - | €62,634 | +€62,634 | |
| Profit (loss) for the period before taxes | 9903 | -€32,058 | -€68,456 | -€36,398 | -113.5% |
| Income taxes | 67/77 | €4,485 | - | -€4,485 | |
| Profit (loss) for the period | 9904 | -€36,544 | -€68,456 | -€31,912 | -87.3% |
| Transfer from tax-exempt reserves | 789 | €206,290 | - | -€206,290 | |
| Profit (loss) for the period to be appropriated | 9905 | €169,746 | -€68,456 | -€238,202 |
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 11 October 2026 via checked.be.