PAESOGE CONSTRUCT: 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.
PAESOGE CONSTRUCT
Largest movements
- Receivables within one year +€13,930
up €13,930 (+87.3%), from €15,956 to €29,886
of which Trade receivables: +€12,541
- Cash -€3,791
down €3,791 (-48.6%), from €7,807 to €4,016
mainly Receivables within one year (-€13,930) and Investment in fixed assets (net) (-€6,252)
- Tangible fixed assets -€2,088
down €2,088 (-16.8%), from €12,433 to €10,344
of which Furniture and vehicles: -€5,958
- Deferred charges and accrued income -€816
down €816 (-33.3%), from €2,454 to €1,638
- Tax, wage and social debts +€4,924
up €4,924 (+80.0%), from €6,158 to €11,081
of which Remuneration and social security: +€2,625
- Reserves +€2,116
up €2,116 (+9.2%), from €22,976 to €25,092
- Gross operating margin -€13,063
down €13,063 (-51.4%), from €25,430 to €12,366
- Taxes -€2,883
down €2,883 (-73.7%), from €3,913 to €1,030
- Depreciation +€1,735
up €1,735 (+24.6%), from €7,055 to €8,790
- Other operating charges -€471
down €471 (-46.1%), from €1,023 to €551
- Staff costs -€392
no longer reported in 2025 (was €392)
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 | €39,549 | €46,334 | +€6,785 | +17.2% |
| Fixed assets | 21/28 | €13,333 | €10,794 | -€2,538 | -19.0% |
| Intangible fixed assets | 21 | €900 | €450 | -€450 | -50.0% |
| Tangible fixed assets | 22/27 | €12,433 | €10,344 | -€2,088 | -16.8% |
| Land and buildings | 22 | - | €3,866 | +€3,866 | |
| Plant, machinery and equipment | 23 | €3,072 | €3,075 | +€3 | +0.1% |
| Furniture and vehicles | 24 | €9,361 | €3,403 | -€5,958 | -63.6% |
| Current assets | 29/58 | €26,216 | €35,540 | +€9,324 | +35.6% |
| Amounts receivable within one year | 40/41 | €15,956 | €29,886 | +€13,930 | +87.3% |
| Trade receivables | 40 | €8,967 | €21,508 | +€12,541 | +139.9% |
| Other amounts receivable | 41 | €6,989 | €8,378 | +€1,389 | +19.9% |
| Cash at bank and in hand | 54/58 | €7,807 | €4,016 | -€3,791 | -48.6% |
| Deferred charges and accrued income | 490/1 | €2,454 | €1,638 | -€816 | -33.3% |
| Total equity and liabilities | 10/49 | €39,549 | €46,334 | +€6,785 | +17.2% |
| Equity | 10/15 | €32,976 | €35,092 | +€2,116 | +6.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €22,976 | €25,092 | +€2,116 | +9.2% |
| Distributable reserves | 133 | €22,976 | €25,092 | +€2,116 | +9.2% |
| Amounts payable | 17/49 | €6,573 | €11,242 | +€4,670 | +71.0% |
| Amounts payable within one year | 42/48 | €6,573 | €11,242 | +€4,670 | +71.0% |
| Trade debts | 44 | €415 | €161 | -€254 | -61.3% |
| Suppliers | 440/4 | €415 | €161 | -€254 | -61.3% |
| Taxes, remuneration and social security | 45 | €6,158 | €11,081 | +€4,924 | +80.0% |
| Taxes | 450/3 | €6,158 | €8,456 | +€2,299 | +37.3% |
| Remuneration and social security | 454/9 | - | €2,625 | +€2,625 | |
| Remuneration, social security and pensions | 62 | €392 | - | -€392 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,055 | €8,790 | +€1,735 | +24.6% |
| Other operating charges | 640/8 | €1,023 | €551 | -€471 | -46.1% |
| Gross operating margin | 9900 | €25,430 | €12,366 | -€13,063 | -51.4% |
| Operating profit (loss) | 9901 | €16,960 | €3,025 | -€13,935 | -82.2% |
| Financial income | 75/76B | €293 | €175 | -€118 | -40.3% |
| Recurring financial income | 75 | €293 | €175 | -€118 | -40.3% |
| Financial charges | 65/66B | €59 | €54 | -€5 | -7.8% |
| Recurring financial charges | 65 | €59 | €54 | -€5 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €17,195 | €3,146 | -€14,049 | -81.7% |
| Income taxes | 67/77 | €3,913 | €1,030 | -€2,883 | -73.7% |
| Profit (loss) for the period | 9904 | €13,282 | €2,116 | -€11,166 | -84.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,282 | €2,116 | -€11,166 | -84.1% |
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 10 October 2026 via checked.be.