PACOSA: what changed
Two fiscal 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.
PACOSA
Largest movements
- Cash +€167,085
up €167,085 (+3276.7%), from €5,099 to €172,184
- Receivables within one year +€31,135
up €31,135 (+32.2%), from €96,804 to €127,938
of which Other amounts receivable: +€34,263
- Tangible fixed assets -€8,285
down €8,285 (-77.3%), from €10,725 to €2,440
of which Leasing and similar rights: -€7,882
- Reserves +€120,398
up €120,398 (+1442.8%), from €8,345 to €128,742
- Trade debts +€91,476
up €91,476 (+124.0%), from €73,797 to €165,273
- Contributions -€18,591
down €18,591 (-100.0%), from €18,592 to €1
- Debts after one year -€6,188
no longer reported in 2025 (was €6,188)
- Tax, wage and social debts +€4,482
up €4,482 (+223.0%), from €2,010 to €6,493
- Gross operating margin +€131,338
up €131,338 (+469.2%), from €27,993 to €159,331
- Taxes +€40,181
up €40,181 (+4729.6%), from €850 to €41,030
- Financial income +€10,113
up €10,113 (+219.6%), from €4,604 to €14,717
- Depreciation +€4,597
up €4,597 (+93.3%), from €4,927 to €9,524
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €113,343 | €303,315 | +€189,972 | +167.6% |
| Fixed assets | 21/28 | €10,725 | €2,440 | -€8,285 | -77.3% |
| Tangible fixed assets | 22/27 | €10,725 | €2,440 | -€8,285 | -77.3% |
| Furniture and vehicles | 24 | €403 | - | -€403 | |
| Leasing and similar rights | 25 | €10,322 | €2,440 | -€7,882 | -76.4% |
| Current assets | 29/58 | €102,618 | €300,875 | +€198,257 | +193.2% |
| Amounts receivable within one year | 40/41 | €96,804 | €127,938 | +€31,135 | +32.2% |
| Trade receivables | 40 | €3,128 | - | -€3,128 | |
| Other amounts receivable | 41 | €93,676 | €127,938 | +€34,263 | +36.6% |
| Cash at bank and in hand | 54/58 | €5,099 | €172,184 | +€167,085 | +3276.7% |
| Deferred charges and accrued income | 490/1 | €715 | €752 | +€37 | +5.2% |
| Total equity and liabilities | 10/49 | €113,343 | €303,315 | +€189,972 | +167.6% |
| Equity | 10/15 | €26,937 | €128,743 | +€101,807 | +377.9% |
| Contributions | 10/11 | €18,592 | €1 | -€18,591 | -100.0% |
| Reserves | 13 | €8,345 | €128,742 | +€120,398 | +1442.8% |
| Distributable reserves | 133 | €8,345 | €128,742 | +€120,398 | +1442.8% |
| Amounts payable | 17/49 | €86,407 | €174,572 | +€88,165 | +102.0% |
| Amounts payable after more than one year | 17 | €6,188 | - | -€6,188 | |
| Financial debts | 170/4 | €6,188 | - | -€6,188 | |
| Amounts payable within one year | 42/48 | €80,219 | €174,572 | +€94,353 | +117.6% |
| Current portion of amounts payable after more than one year | 42 | €4,412 | €2,807 | -€1,605 | -36.4% |
| Trade debts | 44 | €73,797 | €165,273 | +€91,476 | +124.0% |
| Suppliers | 440/4 | €73,797 | €165,273 | +€91,476 | +124.0% |
| Taxes, remuneration and social security | 45 | €2,010 | €6,493 | +€4,482 | +223.0% |
| Taxes | 450/3 | €2,010 | €6,493 | +€4,482 | +223.0% |
| Non-recurring operating income | 76A | - | €38,393 | +€38,393 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,927 | €9,524 | +€4,597 | +93.3% |
| Other operating charges | 640/8 | €850 | €1,641 | +€791 | +93.1% |
| Gross operating margin | 9900 | €27,993 | €159,331 | +€131,338 | +469.2% |
| Operating profit (loss) | 9901 | €22,216 | €148,166 | +€125,950 | +566.9% |
| Financial income | 75/76B | €4,604 | €14,717 | +€10,113 | +219.6% |
| Recurring financial income | 75 | €4,604 | €14,717 | +€10,113 | +219.6% |
| Financial charges | 65/66B | €1,004 | €1,456 | +€452 | +45.0% |
| Recurring financial charges | 65 | €1,004 | €1,456 | +€452 | +45.0% |
| Profit (loss) for the period before taxes | 9903 | €25,817 | €161,428 | +€135,611 | +525.3% |
| Income taxes | 67/77 | €850 | €41,030 | +€40,181 | +4729.6% |
| Profit (loss) for the period | 9904 | €24,967 | €120,398 | +€95,431 | +382.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,967 | €120,398 | +€95,431 | +382.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2023 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.