PACS: 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.
PACS
Largest movements
- Receivables within one year +€161,491
up €161,491 (+390%), from €41,399 to €202,890
of which Trade receivables: +€158,456
- Cash -€16,326
down €16,326 (-17.3%), from €94,574 to €78,248
mainly Receivables within one year (-€161,491) and Tax, wage and social debts (-€3,428)
- Tangible fixed assets -€14,029
down €14,029 (-10.4%), from €134,637 to €120,608
of which Furniture and vehicles: -€11,078
- Deferred charges and accrued income -€6,310
down €6,310 (-35.2%), from €17,917 to €11,607
- Reserves +€251,366
up €251,366 (+202%), from €124,663 to €376,029
- Profit (loss) carried forward -€123,104
no longer reported in 2025 (was €123,104)
- Gross operating margin +€152,478
up €152,478 (+431%), from €35,389 to €187,867
- Taxes +€33,652
up €33,652 (+405%), from €8,309 to €41,961
- Depreciation +€5,765
up €5,765 (+58.1%), from €9,924 to €15,689
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 | €306,528 | €431,353 | +€124,826 | +40.7% |
| Fixed assets | 21/28 | €152,637 | €138,608 | -€14,029 | -9.2% |
| Tangible fixed assets | 22/27 | €134,637 | €120,608 | -€14,029 | -10.4% |
| Land and buildings | 22 | €78,178 | €75,227 | -€2,951 | -3.8% |
| Furniture and vehicles | 24 | €55,710 | €44,633 | -€11,078 | -19.9% |
| Other tangible fixed assets | 26 | €748 | €748 | = | 0.0% |
| Financial fixed assets | 28 | €18,000 | €18,000 | = | 0.0% |
| Current assets | 29/58 | €153,891 | €292,745 | +€138,855 | +90.2% |
| Amounts receivable within one year | 40/41 | €41,399 | €202,890 | +€161,491 | +390% |
| Trade receivables | 40 | €37,528 | €195,984 | +€158,456 | +422% |
| Other amounts receivable | 41 | €3,871 | €6,906 | +€3,035 | +78.4% |
| Cash at bank and in hand | 54/58 | €94,574 | €78,248 | -€16,326 | -17.3% |
| Deferred charges and accrued income | 490/1 | €17,917 | €11,607 | -€6,310 | -35.2% |
| Total equity and liabilities | 10/49 | €306,528 | €431,353 | +€124,826 | +40.7% |
| Equity | 10/15 | €267,767 | €396,029 | +€128,262 | +47.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €124,663 | €376,029 | +€251,366 | +202% |
| Distributable reserves | 133 | €124,663 | €376,029 | +€251,366 | +202% |
| Profit (loss) carried forward | 14 | €123,104 | - | -€123,104 | |
| Amounts payable | 17/49 | €38,761 | €35,325 | -€3,436 | -8.9% |
| Amounts payable within one year | 42/48 | €38,704 | €35,325 | -€3,379 | -8.7% |
| Trade debts | 44 | €1,395 | €1,444 | +€49 | +3.5% |
| Suppliers | 440/4 | €1,395 | €1,444 | +€49 | +3.5% |
| Taxes, remuneration and social security | 45 | €37,309 | €33,881 | -€3,428 | -9.2% |
| Taxes | 450/3 | €33,537 | €26,849 | -€6,689 | -19.9% |
| Remuneration and social security | 454/9 | €3,772 | €7,032 | +€3,260 | +86.4% |
| Accrued charges and deferred income | 492/3 | €57 | - | -€57 | |
| Non-recurring operating income | 76A | €528 | - | -€528 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,924 | €15,689 | +€5,765 | +58.1% |
| Other operating charges | 640/8 | €1,786 | €1,486 | -€300 | -16.8% |
| Gross operating margin | 9900 | €35,389 | €187,867 | +€152,478 | +431% |
| Operating profit (loss) | 9901 | €23,680 | €170,692 | +€147,012 | +621% |
| Financial income | 75/76B | €122 | €327 | +€206 | +169% |
| Recurring financial income | 75 | €122 | €327 | +€206 | +169% |
| Financial charges | 65/66B | €964 | €796 | -€168 | -17.4% |
| Recurring financial charges | 65 | €964 | €796 | -€168 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €22,837 | €170,223 | +€147,386 | +645% |
| Income taxes | 67/77 | €8,309 | €41,961 | +€33,652 | +405% |
| Profit (loss) for the period | 9904 | €14,528 | €128,262 | +€113,734 | +783% |
| Profit (loss) for the period to be appropriated | 9905 | €14,528 | €128,262 | +€113,734 | +783% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.