PACS: 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.
PACS
Largest movements
- Tangible fixed assets +€551,265
new in 2025: €551,265
- Receivables within one year +€104,878
up €104,878 (+14849.3%), from €706 to €105,584
- Cash -€35,446
no longer reported in 2025 (was €35,446)
mainly Investment in fixed assets (net) (-€589,077) and Receivables within one year (-€104,878)
- Debts after one year +€490,771
new in 2025: €490,771
- Short-term financial debts +€101,194
new in 2025: €101,194
- Other debts +€75,726
up €75,726 (+19550.3%), from €387 to €76,113
- Profit (loss) carried forward -€51,679
down €51,679 (-1220.3%), from -€4,235 to -€55,914
- Depreciation +€37,812
new in 2025: €37,812
- Financial charges +€7,983
up €7,983 (+14005.5%), from €57 to €8,040
- Gross operating margin -€1,636
down €1,636 (-43.2%), from -€3,791 to -€5,427
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 | €36,152 | €656,849 | +€620,697 | +1716.9% |
| Fixed assets | 21/28 | - | €551,265 | +€551,265 | |
| Tangible fixed assets | 22/27 | - | €551,265 | +€551,265 | |
| Land and buildings | 22 | - | €551,265 | +€551,265 | |
| Current assets | 29/58 | €36,152 | €105,584 | +€69,432 | +192.1% |
| Amounts receivable within one year | 40/41 | €706 | €105,584 | +€104,878 | +14849.3% |
| Other amounts receivable | 41 | €706 | €105,584 | +€104,878 | +14849.3% |
| Cash at bank and in hand | 54/58 | €35,446 | - | -€35,446 | |
| Total equity and liabilities | 10/49 | €36,152 | €656,849 | +€620,697 | +1716.9% |
| Equity | 10/15 | €35,765 | -€15,914 | -€51,679 | |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,235 | -€55,914 | -€51,679 | -1220.3% |
| Amounts payable | 17/49 | €387 | €672,763 | +€672,376 | +173588.0% |
| Amounts payable after more than one year | 17 | - | €490,771 | +€490,771 | |
| Financial debts | 170/4 | - | €490,771 | +€490,771 | |
| Amounts payable within one year | 42/48 | €387 | €181,992 | +€181,605 | +46885.1% |
| Current portion of amounts payable after more than one year | 42 | - | €4,229 | +€4,229 | |
| Financial debts | 43 | - | €101,194 | +€101,194 | |
| Credit institutions | 430/8 | - | €101,194 | +€101,194 | |
| Trade debts | 44 | - | €455 | +€455 | |
| Suppliers | 440/4 | - | €455 | +€455 | |
| Other amounts payable | 47/48 | €387 | €76,113 | +€75,726 | +19550.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €37,812 | +€37,812 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€3,791 | -€5,427 | -€1,636 | -43.2% |
| Operating profit (loss) | 9901 | -€4,178 | -€43,639 | -€39,461 | -944.5% |
| Financial charges | 65/66B | €57 | €8,040 | +€7,983 | +14005.5% |
| Recurring financial charges | 65 | €57 | €8,040 | +€7,983 | +14005.5% |
| Profit (loss) for the period before taxes | 9903 | -€4,235 | -€51,679 | -€47,444 | -1120.3% |
| Profit (loss) for the period | 9904 | -€4,235 | -€51,679 | -€47,444 | -1120.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,235 | -€51,679 | -€47,444 | -1120.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.