PACOR: 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.
PACOR
Largest movements
- Financial fixed assets +€600,000
new in 2025: €600,000
- Cash +€399,461
up €399,461 (+5970.2%), from €6,691 to €406,152
mainly Debts after one year (+€412,500) and Other debts (+€260,125)
- Current investments -€254,731
down €254,731 (-100.0%), from €254,731 to €0
- Debts after one year +€412,500
new in 2025: €412,500
- Other debts +€260,125
up €260,125 (+221.3%), from €117,541 to €377,666
- Current portion of long-term debt +€150,000
new in 2025: €150,000
- Reserves -€114,396
down €114,396 (-64.5%), from €177,318 to €62,922
- Tax, wage and social debts +€31,619
up €31,619 (+416.5%), from €7,591 to €39,210
- Gross operating margin +€64,966
up €64,966 (+70.9%), from €91,638 to €156,605
- Taxes +€15,622
up €15,622 (+74.5%), from €20,967 to €36,589
- Financial income +€8,518
up €8,518 (+492.4%), from €1,730 to €10,248
of which Financial income: +€9,241
- Financial charges -€1,691
down €1,691 (-28.4%), from €5,945 to €4,254
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 | €308,615 | €1,046,997 | +€738,383 | +239.3% |
| Fixed assets | 21/28 | €32,832 | €625,862 | +€593,031 | +1806.3% |
| Tangible fixed assets | 22/27 | €32,832 | €25,862 | -€6,969 | -21.2% |
| Furniture and vehicles | 24 | €5,402 | €1,697 | -€3,706 | -68.6% |
| Other tangible fixed assets | 26 | €27,429 | €24,166 | -€3,263 | -11.9% |
| Financial fixed assets | 28 | - | €600,000 | +€600,000 | |
| Current assets | 29/58 | €275,783 | €421,135 | +€145,352 | +52.7% |
| Amounts receivable within one year | 40/41 | €14,362 | €14,625 | +€264 | +1.8% |
| Trade receivables | 40 | €14,362 | €14,625 | +€264 | +1.8% |
| Current investments | 50/53 | €254,731 | €0 | -€254,731 | -100.0% |
| Cash at bank and in hand | 54/58 | €6,691 | €406,152 | +€399,461 | +5970.2% |
| Deferred charges and accrued income | 490/1 | - | €357 | +€357 | |
| Total equity and liabilities | 10/49 | €308,615 | €1,046,997 | +€738,383 | +239.3% |
| Equity | 10/15 | €177,418 | €63,022 | -€114,396 | -64.5% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €177,318 | €62,922 | -€114,396 | -64.5% |
| Distributable reserves | 133 | €177,318 | €62,922 | -€114,396 | -64.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €131,197 | €983,975 | +€852,778 | +650.0% |
| Amounts payable after more than one year | 17 | - | €412,500 | +€412,500 | |
| Financial debts | 170/4 | - | €412,500 | +€412,500 | |
| Amounts payable within one year | 42/48 | €125,326 | €571,475 | +€446,148 | +356.0% |
| Current portion of amounts payable after more than one year | 42 | - | €150,000 | +€150,000 | |
| Trade debts | 44 | €195 | €4,598 | +€4,404 | +2262.4% |
| Suppliers | 440/4 | €195 | €4,598 | +€4,404 | +2262.4% |
| Taxes, remuneration and social security | 45 | €7,591 | €39,210 | +€31,619 | +416.5% |
| Taxes | 450/3 | €7,591 | €39,210 | +€31,619 | +416.5% |
| Other amounts payable | 47/48 | €117,541 | €377,666 | +€260,125 | +221.3% |
| Accrued charges and deferred income | 492/3 | €5,870 | €0 | -€5,870 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,969 | €6,969 | = | 0.0% |
| Other operating charges | 640/8 | €495 | €1,118 | +€623 | +126.0% |
| Gross operating margin | 9900 | €91,638 | €156,605 | +€64,966 | +70.9% |
| Operating profit (loss) | 9901 | €84,174 | €148,517 | +€64,343 | +76.4% |
| Financial income | 75/76B | €1,730 | €10,248 | +€8,518 | +492.4% |
| Recurring financial income | 75 | €1,007 | €10,248 | +€9,241 | +917.3% |
| Non-recurring financial income | 76B | €723 | €0 | -€723 | -100.0% |
| Financial charges | 65/66B | €5,945 | €4,254 | -€1,691 | -28.4% |
| Recurring financial charges | 65 | €5,945 | €4,254 | -€1,691 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | €79,959 | €154,511 | +€74,552 | +93.2% |
| Income taxes | 67/77 | €20,967 | €36,589 | +€15,622 | +74.5% |
| Profit (loss) for the period | 9904 | €58,993 | €117,922 | +€58,930 | +99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,993 | €117,922 | +€58,930 | +99.9% |
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.