PAF: what changed
Two fiscal 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.
PAF
Largest movements
- Receivables within one year -€16,240
down €16,240 (-59.6%), from €27,263 to €11,022
of which Trade receivables: -€16,434
- Cash +€3,695
up €3,695 (+59.6%), from €6,195 to €9,890
mainly Receivables within one year (+€16,240) and Net result for the year (+€2,085)
- Intangible fixed assets +€1,809
up €1,809 (+24.4%), from €7,417 to €9,226
- Trade debts -€13,161
down €13,161 (-82.3%), from €16,000 to €2,839
- Profit (loss) carried forward +€2,085
up €2,085 (+10.0%), from €20,935 to €23,021
- Tax, wage and social debts +€1,368
up €1,368 (+268.9%), from €509 to €1,876
- Advances received -€975
down €975 (-100.0%), from €975 to €0
- Gross operating margin -€24,259
down €24,259 (-81.7%), from €29,681 to €5,422
- Taxes -€4,932
down €4,932 (-90.7%), from €5,439 to €506
- Other operating charges -€2,338
down €2,338 (-77.1%), from €3,034 to €696
- Depreciation +€1,939
up €1,939 (+2194.6%), from €88 to €2,028
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €41,419 | €30,736 | -€10,683 | -25.8% |
| Fixed assets | 21/28 | €7,961 | €9,574 | +€1,612 | +20.3% |
| Intangible fixed assets | 21 | €7,417 | €9,226 | +€1,809 | +24.4% |
| Tangible fixed assets | 22/27 | €544 | €347 | -€197 | -36.2% |
| Furniture and vehicles | 24 | €544 | €347 | -€197 | -36.2% |
| Current assets | 29/58 | €33,457 | €21,162 | -€12,295 | -36.7% |
| Amounts receivable within one year | 40/41 | €27,263 | €11,022 | -€16,240 | -59.6% |
| Trade receivables | 40 | €27,185 | €10,751 | -€16,434 | -60.5% |
| Other amounts receivable | 41 | €78 | €272 | +€194 | +248.2% |
| Cash at bank and in hand | 54/58 | €6,195 | €9,890 | +€3,695 | +59.6% |
| Deferred charges and accrued income | 490/1 | - | €250 | +€250 | |
| Total equity and liabilities | 10/49 | €41,419 | €30,736 | -€10,683 | -25.8% |
| Equity | 10/15 | €23,935 | €26,021 | +€2,085 | +8.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,935 | €23,021 | +€2,085 | +10.0% |
| Amounts payable | 17/49 | €17,483 | €4,715 | -€12,768 | -73.0% |
| Amounts payable within one year | 42/48 | €17,483 | €4,715 | -€12,768 | -73.0% |
| Trade debts | 44 | €16,000 | €2,839 | -€13,161 | -82.3% |
| Suppliers | 440/4 | €16,000 | €2,839 | -€13,161 | -82.3% |
| Advances received on contracts in progress | 46 | €975 | €0 | -€975 | -100.0% |
| Taxes, remuneration and social security | 45 | €509 | €1,876 | +€1,368 | +268.9% |
| Taxes | 450/3 | €509 | €1,876 | +€1,368 | +268.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88 | €2,028 | +€1,939 | +2194.6% |
| Other operating charges | 640/8 | €3,034 | €696 | -€2,338 | -77.1% |
| Gross operating margin | 9900 | €29,681 | €5,422 | -€24,259 | -81.7% |
| Operating profit (loss) | 9901 | €26,558 | €2,698 | -€23,860 | -89.8% |
| Financial income | 75/76B | €15 | €29 | +€14 | +95.1% |
| Recurring financial income | 75 | €15 | €29 | +€14 | +95.1% |
| Financial charges | 65/66B | €199 | €135 | -€64 | -32.0% |
| Recurring financial charges | 65 | €199 | €135 | -€64 | -32.0% |
| Profit (loss) for the period before taxes | 9903 | €26,374 | €2,592 | -€23,782 | -90.2% |
| Income taxes | 67/77 | €5,439 | €506 | -€4,932 | -90.7% |
| Profit (loss) for the period | 9904 | €20,935 | €2,085 | -€18,850 | -90.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,935 | €2,085 | -€18,850 | -90.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.