PACT: 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.
PACT
Largest movements
- Current investments -€420,280
down €420,280 (-98.5%), from €426,574 to €6,294
- Cash +€57,561
up €57,561 (+94.2%), from €61,103 to €118,665
mainly Current investments (+€420,280) and Net result for the year (+€121,168)
- Reserves -€460,218
down €460,218 (-85.2%), from €540,053 to €79,836
- Other debts +€85,548
up €85,548 (+234%), from €36,500 to €122,048
- Trade debts +€10,398
up €10,398 (+900%), from €1,156 to €11,553
- Financial income +€79,750
up €79,750 (+322%), from €24,754 to €104,503
- Gross operating margin +€5,857
up €5,857 (+21.8%), from €26,881 to €32,737
- Taxes +€1,294
up €1,294 (+49.7%), from €2,605 to €3,900
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 | €658,007 | €290,862 | -€367,146 | -55.8% |
| Fixed assets | 21/28 | €116,535 | €111,283 | -€5,251 | -4.5% |
| Tangible fixed assets | 22/27 | €14,987 | €9,736 | -€5,251 | -35.0% |
| Land and buildings | 22 | €8,456 | €6,595 | -€1,861 | -22.0% |
| Plant, machinery and equipment | 23 | €6,532 | €3,141 | -€3,391 | -51.9% |
| Financial fixed assets | 28 | €101,547 | €101,547 | = | 0.0% |
| Current assets | 29/58 | €541,473 | €179,578 | -€361,894 | -66.8% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €33,796 | €34,620 | +€825 | +2.4% |
| Trade receivables | 40 | €23,441 | €24,054 | +€614 | +2.6% |
| Other amounts receivable | 41 | €10,355 | €10,566 | +€211 | +2.0% |
| Current investments | 50/53 | €426,574 | €6,294 | -€420,280 | -98.5% |
| Cash at bank and in hand | 54/58 | €61,103 | €118,665 | +€57,561 | +94.2% |
| Total equity and liabilities | 10/49 | €658,007 | €290,862 | -€367,146 | -55.8% |
| Equity | 10/15 | €615,137 | €154,919 | -€460,218 | -74.8% |
| Contributions | 10/11 | €20,600 | €20,600 | = | 0.0% |
| Reserves | 13 | €540,053 | €79,836 | -€460,218 | -85.2% |
| Distributable reserves | 133 | €540,053 | €79,836 | -€460,218 | -85.2% |
| Profit (loss) carried forward | 14 | €54,484 | €54,484 | = | 0.0% |
| Amounts payable | 17/49 | €42,871 | €135,942 | +€93,072 | +217% |
| Amounts payable within one year | 42/48 | €42,871 | €135,942 | +€93,072 | +217% |
| Trade debts | 44 | €1,156 | €11,553 | +€10,398 | +900% |
| Suppliers | 440/4 | €1,156 | €11,553 | +€10,398 | +900% |
| Taxes, remuneration and social security | 45 | €5,215 | €2,341 | -€2,874 | -55.1% |
| Taxes | 450/3 | €5,215 | €2,341 | -€2,874 | -55.1% |
| Other amounts payable | 47/48 | €36,500 | €122,048 | +€85,548 | +234% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,251 | €5,251 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,852 | €1,875 | +€23 | +1.2% |
| Gross operating margin | 9900 | €26,881 | €32,737 | +€5,857 | +21.8% |
| Operating profit (loss) | 9901 | €19,777 | €25,611 | +€5,834 | +29.5% |
| Financial income | 75/76B | €24,754 | €104,503 | +€79,750 | +322% |
| Recurring financial income | 75 | €24,754 | €104,503 | +€79,750 | +322% |
| Financial charges | 65/66B | €5,031 | €5,046 | +€16 | +0.3% |
| Recurring financial charges | 65 | €5,031 | €5,046 | +€16 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €39,500 | €125,068 | +€85,568 | +217% |
| Income taxes | 67/77 | €2,605 | €3,900 | +€1,294 | +49.7% |
| Profit (loss) for the period | 9904 | €36,895 | €121,168 | +€84,274 | +228% |
| Profit (loss) for the period to be appropriated | 9905 | €36,895 | €121,168 | +€84,274 | +228% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.