PAELE: 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.
PAELE
Largest movements
- Cash +€9,130
up €9,130 (+12.3%), from €74,304 to €83,433
mainly Net result for the year (+€20,793) and Depreciation (+€9,702)
- Receivables within one year +€8,570
up €8,570 (+37.8%), from €22,674 to €31,244
of which Trade receivables: +€11,465
- Tangible fixed assets -€7,072
down €7,072 (-55.4%), from €12,764 to €5,693
of which Leasing and similar rights: -€8,648
- Reserves +€20,793
up €20,793 (+26.2%), from €79,235 to €100,029
- Current portion of long-term debt -€6,008
down €6,008 (-74.7%), from €8,042 to €2,034
- Tax, wage and social debts -€2,209
down €2,209 (-16.1%), from €13,749 to €11,540
of which Taxes: -€2,409
- Debts after one year -€2,034
no longer reported in 2025 (was €2,034)
- Gross operating margin -€15,203
down €15,203 (-26.3%), from €57,776 to €42,574
- Taxes -€3,903
down €3,903 (-29.6%), from €13,184 to €9,281
- Depreciation -€1,598
down €1,598 (-14.1%), from €11,300 to €9,702
- Other operating charges +€582
up €582 (+36.6%), from €1,591 to €2,173
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 | €109,742 | €120,370 | +€10,628 | +9.7% |
| Fixed assets | 21/28 | €12,764 | €5,693 | -€7,072 | -55.4% |
| Tangible fixed assets | 22/27 | €12,764 | €5,693 | -€7,072 | -55.4% |
| Plant, machinery and equipment | 23 | €1,594 | €3,170 | +€1,576 | +98.9% |
| Leasing and similar rights | 25 | €11,170 | €2,522 | -€8,648 | -77.4% |
| Current assets | 29/58 | €96,978 | €114,678 | +€17,700 | +18.3% |
| Amounts receivable within one year | 40/41 | €22,674 | €31,244 | +€8,570 | +37.8% |
| Trade receivables | 40 | €14,481 | €25,946 | +€11,465 | +79.2% |
| Other amounts receivable | 41 | €8,193 | €5,298 | -€2,894 | -35.3% |
| Cash at bank and in hand | 54/58 | €74,304 | €83,433 | +€9,130 | +12.3% |
| Total equity and liabilities | 10/49 | €109,742 | €120,370 | +€10,628 | +9.7% |
| Equity | 10/15 | €84,235 | €105,029 | +€20,793 | +24.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €79,235 | €100,029 | +€20,793 | +26.2% |
| Distributable reserves | 133 | €79,235 | €100,029 | +€20,793 | +26.2% |
| Amounts payable | 17/49 | €25,507 | €15,342 | -€10,165 | -39.9% |
| Amounts payable after more than one year | 17 | €2,034 | - | -€2,034 | |
| Financial debts | 170/4 | €2,034 | - | -€2,034 | |
| Amounts payable within one year | 42/48 | €23,472 | €15,342 | -€8,131 | -34.6% |
| Current portion of amounts payable after more than one year | 42 | €8,042 | €2,034 | -€6,008 | -74.7% |
| Trade debts | 44 | €1,681 | €1,128 | -€554 | -32.9% |
| Suppliers | 440/4 | €1,681 | €1,128 | -€554 | -32.9% |
| Taxes, remuneration and social security | 45 | €13,749 | €11,540 | -€2,209 | -16.1% |
| Taxes | 450/3 | €11,471 | €9,062 | -€2,409 | -21.0% |
| Remuneration and social security | 454/9 | €2,278 | €2,478 | +€200 | +8.8% |
| Other amounts payable | 47/48 | - | €639 | +€639 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,300 | €9,702 | -€1,598 | -14.1% |
| Other operating charges | 640/8 | €1,591 | €2,173 | +€582 | +36.6% |
| Gross operating margin | 9900 | €57,776 | €42,574 | -€15,203 | -26.3% |
| Operating profit (loss) | 9901 | €44,885 | €30,699 | -€14,186 | -31.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €771 | €625 | -€146 | -18.9% |
| Recurring financial charges | 65 | €771 | €625 | -€146 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €44,114 | €30,074 | -€14,040 | -31.8% |
| Income taxes | 67/77 | €13,184 | €9,281 | -€3,903 | -29.6% |
| Profit (loss) for the period | 9904 | €30,930 | €20,793 | -€10,137 | -32.8% |
| Profit (loss) for the period to be appropriated | 9905 | €30,930 | €20,793 | -€10,137 | -32.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.