PACO SCRIPT: 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.
PACO SCRIPT
Largest movements
- Tangible fixed assets -€8,196
down €8,196 (-47.2%), from €17,358 to €9,162
- Receivables within one year +€3,894
up €3,894 (+53.4%), from €7,295 to €11,189
of which Other amounts receivable: +€8,576
- Deferred charges and accrued income -€899
no longer reported in 2025 (was €899)
- Cash +€714
new in 2025: €714
mainly Depreciation (+€8,196) and Net result for the year (+€1,091)
- Debts after one year -€5,224
down €5,224 (-44.6%), from €11,704 to €6,479
- Profit (loss) carried forward +€1,091
up €1,091 (+2.5%), from -€43,982 to -€42,891
- Tax, wage and social debts -€995
down €995 (-43.9%), from €2,269 to €1,273
- Trade debts +€775
up €775 (+16.8%), from €4,602 to €5,377
- Short-term financial debts -€421
no longer reported in 2025 (was €421)
- Gross operating margin -€4,100
down €4,100 (-26.0%), from €15,749 to €11,649
- Staff costs -€2,419
no longer reported in 2025 (was €2,419)
- Taxes -€1,951
down €1,951 (-98.3%), from €1,984 to €33
- Financial charges -€246
down €246 (-19.7%), from €1,245 to €999
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 | €25,915 | €21,427 | -€4,488 | -17.3% |
| Fixed assets | 21/28 | €17,721 | €9,525 | -€8,196 | -46.3% |
| Tangible fixed assets | 22/27 | €17,358 | €9,162 | -€8,196 | -47.2% |
| Furniture and vehicles | 24 | €17,358 | €9,162 | -€8,196 | -47.2% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €8,194 | €11,902 | +€3,708 | +45.3% |
| Amounts receivable within one year | 40/41 | €7,295 | €11,189 | +€3,894 | +53.4% |
| Trade receivables | 40 | €6,244 | €1,561 | -€4,682 | -75.0% |
| Other amounts receivable | 41 | €1,052 | €9,628 | +€8,576 | +815.5% |
| Cash at bank and in hand | 54/58 | - | €714 | +€714 | |
| Deferred charges and accrued income | 490/1 | €899 | - | -€899 | |
| Total equity and liabilities | 10/49 | €25,915 | €21,427 | -€4,488 | -17.3% |
| Equity | 10/15 | €1,983 | €3,074 | +€1,091 | +55.0% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Contributions outside capital | 11 | €37,184 | €37,184 | = | 0.0% |
| Other | 1109/19 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €8,781 | €8,781 | = | 0.0% |
| Non-distributable reserves | 130/1 | €781 | €781 | = | 0.0% |
| Legal reserve | 130 | €781 | €781 | = | 0.0% |
| Distributable reserves | 133 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,982 | -€42,891 | +€1,091 | +2.5% |
| Amounts payable | 17/49 | €23,932 | €18,354 | -€5,579 | -23.3% |
| Amounts payable after more than one year | 17 | €11,704 | €6,479 | -€5,224 | -44.6% |
| Financial debts | 170/4 | €11,704 | €6,479 | -€5,224 | -44.6% |
| Amounts payable within one year | 42/48 | €12,229 | €11,874 | -€354 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €4,937 | €5,224 | +€287 | +5.8% |
| Financial debts | 43 | €421 | - | -€421 | |
| Credit institutions | 430/8 | €421 | - | -€421 | |
| Trade debts | 44 | €4,602 | €5,377 | +€775 | +16.8% |
| Suppliers | 440/4 | €4,602 | €5,377 | +€775 | +16.8% |
| Taxes, remuneration and social security | 45 | €2,269 | €1,273 | -€995 | -43.9% |
| Taxes | 450/3 | €2,269 | €1,273 | -€995 | -43.9% |
| Remuneration, social security and pensions | 62 | €2,419 | - | -€2,419 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,196 | €8,196 | = | 0.0% |
| Other operating charges | 640/8 | €1,349 | €1,330 | -€19 | -1.4% |
| Gross operating margin | 9900 | €15,749 | €11,649 | -€4,100 | -26.0% |
| Operating profit (loss) | 9901 | €3,785 | €2,123 | -€1,661 | -43.9% |
| Financial charges | 65/66B | €1,245 | €999 | -€246 | -19.7% |
| Recurring financial charges | 65 | €1,245 | €999 | -€246 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | €2,540 | €1,124 | -€1,416 | -55.7% |
| Income taxes | 67/77 | €1,984 | €33 | -€1,951 | -98.3% |
| Profit (loss) for the period | 9904 | €556 | €1,091 | +€535 | +96.2% |
| Profit (loss) for the period to be appropriated | 9905 | €556 | €1,091 | +€535 | +96.2% |
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.