PACQUEE DAVE: what changed
PACQUEE DAVE
Largest movements
- Tangible fixed assets +€26,927
up €26,927 (+114%), from €23,656 to €50,583
of which Furniture and vehicles: +€27,338
- Receivables within one year +€23,790
up €23,790 (+83.7%), from €28,435 to €52,226
of which Trade receivables: +€17,130
- Cash -€21,034
down €21,034 (-12.5%), from €168,236 to €147,202
mainly Investment in fixed assets (net) (-€41,220) and Contributions, distributions and other (-€39,500)
- Trade debts +€22,222
up €22,222 (+631%), from €3,521 to €25,743
- Other debts +€17,204
up €17,204 (+86.6%), from €19,867 to €37,071
- Current portion of long-term debt -€4,671
down €4,671 (-92.3%), from €5,060 to €390
- Taxes -€4,971
down €4,971 (-23.4%), from €21,223 to €16,253
- Gross operating margin -€4,181
down €4,181 (-5.8%), from €71,747 to €67,567
- Financial income -€2,705
down €2,705 (-69.5%), from €3,892 to €1,187
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €349,513 | €379,596 | +€30,082 | +8.6% |
| Fixed assets | 21/28 | €23,661 | €50,588 | +€26,927 | +114% |
| Tangible fixed assets | 22/27 | €23,656 | €50,583 | +€26,927 | +114% |
| Plant, machinery and equipment | 23 | €916 | €506 | -€411 | -44.8% |
| Furniture and vehicles | 24 | €22,740 | €50,077 | +€27,338 | +120% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €325,852 | €329,008 | +€3,155 | +1.0% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €5,819 | €9,115 | +€3,295 | +56.6% |
| Stocks | 30/36 | €5,819 | €9,115 | +€3,295 | +56.6% |
| Amounts receivable within one year | 40/41 | €28,435 | €52,226 | +€23,790 | +83.7% |
| Trade receivables | 40 | €19,222 | €36,352 | +€17,130 | +89.1% |
| Other amounts receivable | 41 | €9,213 | €15,874 | +€6,660 | +72.3% |
| Current investments | 50/53 | €20,000 | €20,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €168,236 | €147,202 | -€21,034 | -12.5% |
| Deferred charges and accrued income | 490/1 | €3,362 | €466 | -€2,896 | -86.1% |
| Total equity and liabilities | 10/49 | €349,513 | €379,596 | +€30,082 | +8.6% |
| Equity | 10/15 | €319,792 | €316,391 | -€3,401 | -1.1% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €307,292 | €303,843 | -€3,449 | -1.1% |
| Distributable reserves | 133 | €307,292 | €303,843 | -€3,449 | -1.1% |
| Profit (loss) carried forward | 14 | €0 | €48 | +€48 | +484,000% |
| Amounts payable | 17/49 | €29,721 | €63,205 | +€33,483 | +113% |
| Amounts payable after more than one year | 17 | €1,273 | - | -€1,273 | |
| Financial debts | 170/4 | €1,273 | - | -€1,273 | |
| Amounts payable within one year | 42/48 | €28,449 | €63,205 | +€34,756 | +122% |
| Current portion of amounts payable after more than one year | 42 | €5,060 | €390 | -€4,671 | -92.3% |
| Trade debts | 44 | €3,521 | €25,743 | +€22,222 | +631% |
| Suppliers | 440/4 | €3,521 | €25,743 | +€22,222 | +631% |
| Other amounts payable | 47/48 | €19,867 | €37,071 | +€17,204 | +86.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,676 | €14,293 | -€383 | -2.6% |
| Other operating charges | 640/8 | €2,013 | €1,859 | -€154 | -7.6% |
| Gross operating margin | 9900 | €71,747 | €67,567 | -€4,181 | -5.8% |
| Operating profit (loss) | 9901 | €55,059 | €51,415 | -€3,644 | -6.6% |
| Financial income | 75/76B | €3,892 | €1,187 | -€2,705 | -69.5% |
| Recurring financial income | 75 | €3,892 | €1,187 | -€2,705 | -69.5% |
| Financial charges | 65/66B | €512 | €250 | -€262 | -51.1% |
| Recurring financial charges | 65 | €512 | €250 | -€262 | -51.1% |
| Profit (loss) for the period before taxes | 9903 | €58,439 | €52,352 | -€6,087 | -10.4% |
| Income taxes | 67/77 | €21,223 | €16,253 | -€4,971 | -23.4% |
| Profit (loss) for the period | 9904 | €37,215 | €36,099 | -€1,116 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,215 | €36,099 | -€1,116 | -3.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.