PACT 14: 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 14
Largest movements
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Reserves +€1.7m
up €1.7m (+48.1%), from €3.5m to €5.2m
- Short-term financial debts -€1.4m
down €1.4m (-36.6%), from €3.7m to €2.4m
- Current portion of long-term debt -€363,440
down €363,440 (-64.4%), from €564,467 to €201,026
- Debts after one year -€201,026
down €201,026 (-13.2%), from €1.5m to €1.3m
- Financial charges +€31,962
up €31,962 (+41.0%), from €77,914 to €109,877
- Taxes -€10,704
down €10,704 (-5.0%), from €212,798 to €202,094
- Other operating charges +€7,861
up €7,861 (+3,656%), from €215 to €8,076
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 | €13,941,959 | €13,579,250 | -€362,709 | -2.6% |
| Fixed assets | 21/28 | €13,300,000 | €13,300,000 | = | 0.0% |
| Financial fixed assets | 28 | €13,300,000 | €13,300,000 | = | 0.0% |
| Current assets | 29/58 | €641,959 | €279,250 | -€362,709 | -56.5% |
| Amounts receivable within one year | 40/41 | - | €3,077 | +€3,077 | |
| Other amounts receivable | 41 | - | €3,077 | +€3,077 | |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €241,959 | €276,173 | +€34,214 | +14.1% |
| Total equity and liabilities | 10/49 | €13,941,959 | €13,579,250 | -€362,709 | -2.6% |
| Equity | 10/15 | €7,908,178 | €9,595,579 | +€1.7m | +21.3% |
| Contributions | 10/11 | €4,400,000 | €4,400,000 | = | 0.0% |
| Reserves | 13 | €3,508,178 | €5,195,579 | +€1.7m | +48.1% |
| Non-distributable reserves | 130/1 | €3,508,178 | €5,195,579 | +€1.7m | +48.1% |
| Other | 1319 | €3,508,178 | €5,195,579 | +€1.7m | +48.1% |
| Amounts payable | 17/49 | €6,033,781 | €3,983,670 | -€2.1m | -34.0% |
| Amounts payable after more than one year | 17 | €1,519,006 | €1,317,980 | -€201,026 | -13.2% |
| Financial debts | 170/4 | €1,519,006 | €1,317,980 | -€201,026 | -13.2% |
| Amounts payable within one year | 42/48 | €4,514,775 | €2,665,691 | -€1.8m | -41.0% |
| Current portion of amounts payable after more than one year | 42 | €564,467 | €201,026 | -€363,440 | -64.4% |
| Financial debts | 43 | €3,720,000 | €2,360,000 | -€1.4m | -36.6% |
| Other loans | 439 | €3,720,000 | €2,360,000 | -€1.4m | -36.6% |
| Trade debts | 44 | - | €5,070 | +€5,070 | |
| Suppliers | 440/4 | - | €5,070 | +€5,070 | |
| Taxes, remuneration and social security | 45 | €230,309 | €99,594 | -€130,714 | -56.8% |
| Taxes | 450/3 | €230,309 | €99,594 | -€130,714 | -56.8% |
| Other operating charges | 640/8 | €215 | €8,076 | +€7,861 | +3,656% |
| Gross operating margin | 9900 | €236,270 | €235,116 | -€1,154 | -0.5% |
| Operating profit (loss) | 9901 | €236,055 | €227,040 | -€9,015 | -3.8% |
| Financial income | 75/76B | €1,770,583 | €1,772,333 | +€1,750 | +0.1% |
| Recurring financial income | 75 | €1,770,583 | €1,772,333 | +€1,750 | +0.1% |
| Financial charges | 65/66B | €77,914 | €109,877 | +€31,962 | +41.0% |
| Recurring financial charges | 65 | €77,914 | €109,877 | +€31,962 | +41.0% |
| Profit (loss) for the period before taxes | 9903 | €1,928,723 | €1,889,496 | -€39,227 | -2.0% |
| Income taxes | 67/77 | €212,798 | €202,094 | -€10,704 | -5.0% |
| Profit (loss) for the period | 9904 | €1,715,925 | €1,687,402 | -€28,523 | -1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,715,925 | €1,687,402 | -€28,523 | -1.7% |
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 20 October 2026 via checked.be.