PAELINCK: 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.
PAELINCK
Largest movements
- Receivables within one year +€29,569
up €29,569 (+138%), from €21,491 to €51,060
of which Trade receivables: +€26,219
- Cash -€23,398
down €23,398 (-88.3%), from €26,508 to €3,111
mainly Receivables within one year (-€29,569) and Debts after one year (-€2,062)
- Tangible fixed assets -€2,379
down €2,379 (-26.8%), from €8,890 to €6,511
- Stocks and contracts -€1,072
down €1,072 (-34.8%), from €3,080 to €2,008
- Deferred charges and accrued income +€965
up €965 (+2,286%), from €42 to €1,007
- Trade debts +€5,311
up €5,311 (+33.6%), from €15,821 to €21,132
- Debts after one year -€2,062
down €2,062 (-48.5%), from €4,251 to €2,189
- Other debts +€1,290
new in 2025: €1,290
- Accrued charges and deferred income -€1,266
down €1,266 (-73.8%), from €1,716 to €450
- Gross operating margin -€29,910
down €29,910 (-84.9%), from €35,247 to €5,337
- Taxes -€8,117
down €8,117 (-95.3%), from €8,514 to €397
- Financial charges -€406
down €406 (-20.0%), from €2,030 to €1,624
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 | €60,011 | €63,697 | +€3,685 | +6.1% |
| Fixed assets | 21/28 | €8,890 | €6,511 | -€2,379 | -26.8% |
| Tangible fixed assets | 22/27 | €8,890 | €6,511 | -€2,379 | -26.8% |
| Plant, machinery and equipment | 23 | €8,890 | €6,511 | -€2,379 | -26.8% |
| Current assets | 29/58 | €51,121 | €57,185 | +€6,064 | +11.9% |
| Stocks and contracts in progress | 3 | €3,080 | €2,008 | -€1,072 | -34.8% |
| Stocks | 30/36 | €3,080 | €2,008 | -€1,072 | -34.8% |
| Amounts receivable within one year | 40/41 | €21,491 | €51,060 | +€29,569 | +138% |
| Trade receivables | 40 | €17,833 | €44,052 | +€26,219 | +147% |
| Other amounts receivable | 41 | €3,658 | €7,008 | +€3,350 | +91.6% |
| Cash at bank and in hand | 54/58 | €26,508 | €3,111 | -€23,398 | -88.3% |
| Deferred charges and accrued income | 490/1 | €42 | €1,007 | +€965 | +2,286% |
| Total equity and liabilities | 10/49 | €60,011 | €63,697 | +€3,685 | +6.1% |
| Equity | 10/15 | €32,255 | €32,789 | +€534 | +1.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €27,255 | €27,789 | +€534 | +2.0% |
| Distributable reserves | 133 | €27,255 | €27,789 | +€534 | +2.0% |
| Amounts payable | 17/49 | €27,756 | €30,907 | +€3,151 | +11.4% |
| Amounts payable after more than one year | 17 | €4,251 | €2,189 | -€2,062 | -48.5% |
| Financial debts | 170/4 | €4,251 | €2,189 | -€2,062 | -48.5% |
| Amounts payable within one year | 42/48 | €21,790 | €28,268 | +€6,478 | +29.7% |
| Current portion of amounts payable after more than one year | 42 | €1,941 | €2,062 | +€120 | +6.2% |
| Trade debts | 44 | €15,821 | €21,132 | +€5,311 | +33.6% |
| Suppliers | 440/4 | €15,821 | €21,132 | +€5,311 | +33.6% |
| Taxes, remuneration and social security | 45 | €4,028 | €3,785 | -€243 | -6.0% |
| Taxes | 450/3 | €4,028 | €3,785 | -€243 | -6.0% |
| Other amounts payable | 47/48 | - | €1,290 | +€1,290 | |
| Accrued charges and deferred income | 492/3 | €1,716 | €450 | -€1,266 | -73.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,086 | €2,379 | +€293 | +14.0% |
| Other operating charges | 640/8 | €396 | €430 | +€34 | +8.6% |
| Non-recurring operating charges | 66A | €63 | €53 | -€10 | -16.0% |
| Gross operating margin | 9900 | €35,247 | €5,337 | -€29,910 | -84.9% |
| Operating profit (loss) | 9901 | €32,702 | €2,475 | -€30,226 | -92.4% |
| Financial income | 75/76B | €74 | €80 | +€6 | +8.2% |
| Recurring financial income | 75 | €74 | €80 | +€6 | +8.2% |
| Financial charges | 65/66B | €2,030 | €1,624 | -€406 | -20.0% |
| Recurring financial charges | 65 | €2,030 | €1,624 | -€406 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €30,746 | €931 | -€29,815 | -97.0% |
| Income taxes | 67/77 | €8,514 | €397 | -€8,117 | -95.3% |
| Profit (loss) for the period | 9904 | €22,232 | €534 | -€21,698 | -97.6% |
| Profit (loss) for the period to be appropriated | 9905 | €22,232 | €534 | -€21,698 | -97.6% |
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 24 October 2026 via checked.be.