PACICO FRERES: 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.
PACICO FRERES
Largest movements
- Cash -€20,827
down €20,827 (-20.4%), from €102,316 to €81,489
mainly Advances received (-€26,505) and Contributions, distributions and other (-€9,000)
- Stocks and contracts -€19,134
down €19,134 (-34.6%), from €55,366 to €36,232
- Receivables within one year -€16,509
down €16,509 (-20.1%), from €81,948 to €65,439
of which Trade receivables: -€20,633
- Tangible fixed assets -€6,965
down €6,965 (-9.1%), from €76,893 to €69,927
of which Furniture and vehicles: -€9,580
- Advances received -€26,505
down €26,505 (-57.7%), from €45,938 to €19,433
- Reserves -€9,000
down €9,000 (-11.1%), from €81,360 to €72,360
of which Distributable reserves: -€9,000
- Tax, wage and social debts -€8,950
down €8,950 (-47.2%), from €18,957 to €10,007
of which Taxes: -€9,860
- Profit (loss) carried forward -€7,581
down €7,581 (-12.2%), from €62,356 to €54,775
- Debts after one year -€6,696
down €6,696 (-37.6%), from €17,831 to €11,135
- Gross operating margin -€60,176
down €60,176 (-87.5%), from €68,800 to €8,623
- Taxes -€7,940
down €7,940 (-86.3%), from €9,203 to €1,263
- Staff costs -€6,213
down €6,213 (-97.3%), from €6,383 to €170
- Write-downs -€2,595
down €2,595 (-100%), from €2,595 to €0
- Financial charges -€801
down €801 (-32.2%), from €2,486 to €1,685
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 | €321,688 | €257,959 | -€63,728 | -19.8% |
| Fixed assets | 21/28 | €76,917 | €69,952 | -€6,965 | -9.1% |
| Tangible fixed assets | 22/27 | €76,893 | €69,927 | -€6,965 | -9.1% |
| Land and buildings | 22 | €42,400 | €42,400 | = | 0.0% |
| Plant, machinery and equipment | 23 | €29 | €2,645 | +€2,615 | +8,889% |
| Furniture and vehicles | 24 | €34,463 | €24,883 | -€9,580 | -27.8% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €244,770 | €188,007 | -€56,763 | -23.2% |
| Stocks and contracts in progress | 3 | €55,366 | €36,232 | -€19,134 | -34.6% |
| Stocks | 30/36 | €55,366 | €36,232 | -€19,134 | -34.6% |
| Amounts receivable within one year | 40/41 | €81,948 | €65,439 | -€16,509 | -20.1% |
| Trade receivables | 40 | €76,719 | €56,086 | -€20,633 | -26.9% |
| Other amounts receivable | 41 | €5,229 | €9,353 | +€4,125 | +78.9% |
| Cash at bank and in hand | 54/58 | €102,316 | €81,489 | -€20,827 | -20.4% |
| Deferred charges and accrued income | 490/1 | €5,140 | €4,847 | -€293 | -5.7% |
| Total equity and liabilities | 10/49 | €321,688 | €257,959 | -€63,728 | -19.8% |
| Equity | 10/15 | €167,308 | €150,727 | -€16,581 | -9.9% |
| Contributions | 10/11 | €23,592 | €23,592 | = | 0.0% |
| Reserves | 13 | €81,360 | €72,360 | -€9,000 | -11.1% |
| Non-distributable reserves | 130/1 | €2,360 | €2,360 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,360 | €2,360 | = | 0.0% |
| Distributable reserves | 133 | €79,000 | €70,000 | -€9,000 | -11.4% |
| Profit (loss) carried forward | 14 | €62,356 | €54,775 | -€7,581 | -12.2% |
| Amounts payable | 17/49 | €154,380 | €107,233 | -€47,147 | -30.5% |
| Amounts payable after more than one year | 17 | €17,831 | €11,135 | -€6,696 | -37.6% |
| Financial debts | 170/4 | €17,831 | €11,135 | -€6,696 | -37.6% |
| Amounts payable within one year | 42/48 | €136,105 | €95,872 | -€40,234 | -29.6% |
| Current portion of amounts payable after more than one year | 42 | €6,446 | €6,696 | +€249 | +3.9% |
| Trade debts | 44 | €51,684 | €45,401 | -€6,284 | -12.2% |
| Suppliers | 440/4 | €51,684 | €45,401 | -€6,284 | -12.2% |
| Advances received on contracts in progress | 46 | €45,938 | €19,433 | -€26,505 | -57.7% |
| Taxes, remuneration and social security | 45 | €18,957 | €10,007 | -€8,950 | -47.2% |
| Taxes | 450/3 | €16,940 | €7,079 | -€9,860 | -58.2% |
| Remuneration and social security | 454/9 | €2,017 | €2,927 | +€910 | +45.1% |
| Other amounts payable | 47/48 | €13,080 | €14,335 | +€1,255 | +9.6% |
| Accrued charges and deferred income | 492/3 | €444 | €226 | -€218 | -49.1% |
| Remuneration, social security and pensions | 62 | €6,383 | €170 | -€6,213 | -97.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,736 | €9,855 | +€119 | +1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,595 | €0 | -€2,595 | -100% |
| Other operating charges | 640/8 | €3,246 | €3,287 | +€40 | +1.2% |
| Gross operating margin | 9900 | €68,800 | €8,623 | -€60,176 | -87.5% |
| Operating profit (loss) | 9901 | €46,840 | -€4,689 | -€51,529 | |
| Financial income | 75/76B | €133 | €55 | -€77 | -58.2% |
| Recurring financial income | 75 | €133 | €55 | -€77 | -58.2% |
| Financial charges | 65/66B | €2,486 | €1,685 | -€801 | -32.2% |
| Recurring financial charges | 65 | €2,486 | €1,685 | -€801 | -32.2% |
| Profit (loss) for the period before taxes | 9903 | €44,487 | -€6,318 | -€50,805 | |
| Income taxes | 67/77 | €9,203 | €1,263 | -€7,940 | -86.3% |
| Profit (loss) for the period | 9904 | €35,284 | -€7,581 | -€42,865 | |
| Profit (loss) for the period to be appropriated | 9905 | €35,284 | -€7,581 | -€42,865 |
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 18 October 2026 via checked.be.