PACTA SERVANDA: 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.
PACTA SERVANDA
Largest movements
- Cash +€40,694
up €40,694 (+17.2%), from €236,181 to €276,874
mainly Net result for the year (+€47,978) and Depreciation (+€16,892)
- Receivables within one year +€18,343
up €18,343 (+88.6%), from €20,706 to €39,049
of which Trade receivables: +€16,838
- Tangible fixed assets -€15,702
down €15,702 (-23.1%), from €67,913 to €52,211
of which Furniture and vehicles: -€15,970
- Reserves +€47,978
up €47,978 (+16.5%), from €291,606 to €339,584
- Other debts -€3,978
down €3,978 (-100.0%), from €3,978 to €0
- Gross operating margin +€33,439
up €33,439 (+65.8%), from €50,854 to €84,293
- Taxes +€8,571
up €8,571 (+86.8%), from €9,874 to €18,445
- Depreciation +€1,839
up €1,839 (+12.2%), from €15,054 to €16,892
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 | €324,899 | €369,454 | +€44,555 | +13.7% |
| Fixed assets | 21/28 | €68,012 | €52,310 | -€15,702 | -23.1% |
| Tangible fixed assets | 22/27 | €67,913 | €52,211 | -€15,702 | -23.1% |
| Plant, machinery and equipment | 23 | €1,634 | €1,902 | +€268 | +16.4% |
| Furniture and vehicles | 24 | €66,278 | €50,308 | -€15,970 | -24.1% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €256,886 | €317,144 | +€60,257 | +23.5% |
| Amounts receivable within one year | 40/41 | €20,706 | €39,049 | +€18,343 | +88.6% |
| Trade receivables | 40 | €9,311 | €26,149 | +€16,838 | +180.8% |
| Other amounts receivable | 41 | €11,394 | €12,900 | +€1,505 | +13.2% |
| Cash at bank and in hand | 54/58 | €236,181 | €276,874 | +€40,694 | +17.2% |
| Deferred charges and accrued income | 490/1 | €0 | €1,220 | +€1,220 | |
| Total equity and liabilities | 10/49 | €324,899 | €369,454 | +€44,555 | +13.7% |
| Equity | 10/15 | €291,606 | €339,584 | +€47,978 | +16.5% |
| Reserves | 13 | €291,606 | €339,584 | +€47,978 | +16.5% |
| Distributable reserves | 133 | €291,606 | €339,584 | +€47,978 | +16.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €33,293 | €29,870 | -€3,423 | -10.3% |
| Amounts payable within one year | 42/48 | €33,293 | €29,870 | -€3,423 | -10.3% |
| Financial debts | 43 | €5,068 | €5,070 | +€2 | 0.0% |
| Credit institutions | 430/8 | €5,068 | €5,070 | +€2 | 0.0% |
| Trade debts | 44 | €21,708 | €20,002 | -€1,706 | -7.9% |
| Suppliers | 440/4 | €21,708 | €20,002 | -€1,706 | -7.9% |
| Taxes, remuneration and social security | 45 | €2,539 | €4,798 | +€2,259 | +89.0% |
| Taxes | 450/3 | €2,539 | €4,798 | +€2,259 | +89.0% |
| Other amounts payable | 47/48 | €3,978 | €0 | -€3,978 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,054 | €16,892 | +€1,839 | +12.2% |
| Other operating charges | 640/8 | €190 | €587 | +€397 | +208.6% |
| Gross operating margin | 9900 | €50,854 | €84,293 | +€33,439 | +65.8% |
| Operating profit (loss) | 9901 | €35,610 | €66,814 | +€31,204 | +87.6% |
| Financial charges | 65/66B | €350 | €390 | +€40 | +11.5% |
| Recurring financial charges | 65 | €350 | €390 | +€40 | +11.5% |
| Profit (loss) for the period before taxes | 9903 | €35,260 | €66,423 | +€31,163 | +88.4% |
| Income taxes | 67/77 | €9,874 | €18,445 | +€8,571 | +86.8% |
| Profit (loss) for the period | 9904 | €25,386 | €47,978 | +€22,592 | +89.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,386 | €47,978 | +€22,592 | +89.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.