PAGACE: 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.
PAGACE
Largest movements
- Current investments -€3.1m
down €3.1m (-51.7%), from €6.0m to €2.9m
- Receivables within one year +€2.3m
up €2.3m (+10118.2%), from €22,855 to €2.3m
of which Other amounts receivable: +€2.3m
- Cash -€104,527
down €104,527 (-61.0%), from €171,256 to €66,729
mainly Receivables within one year (-€2.3m) and Trade debts (-€551,214)
- Trade debts -€551,214
down €551,214 (-94.4%), from €583,749 to €32,535
- Other debts -€500,000
down €500,000 (-100.0%), from €500,000 to €0
- Profit (loss) carried forward +€119,322
up €119,322 (+2.9%), from €4.1m to €4.3m
- Gross operating margin -€716,527
down €716,527, from €666,230 to -€50,297
- Financial income +€177,795
up €177,795 (+403.5%), from €44,065 to €221,860
- Taxes +€41,535
new in 2024: €41,535
- Financial charges +€10,015
up €10,015 (+1450.5%), from €690 to €10,705
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 | €6,232,383 | €5,302,134 | -€930,249 | -14.9% |
| Fixed assets | 21/28 | €38,272 | €0 | -€38,272 | -100.0% |
| Financial fixed assets | 28 | €38,272 | €0 | -€38,272 | -100.0% |
| Current assets | 29/58 | €6,194,111 | €5,302,134 | -€891,977 | -14.4% |
| Amounts receivable within one year | 40/41 | €22,855 | €2,335,405 | +€2.3m | +10118.2% |
| Trade receivables | 40 | - | €32,343 | +€32,343 | |
| Other amounts receivable | 41 | €22,855 | €2,303,062 | +€2.3m | +9976.7% |
| Current investments | 50/53 | €6,000,000 | €2,900,000 | -€3.1m | -51.7% |
| Cash at bank and in hand | 54/58 | €171,256 | €66,729 | -€104,527 | -61.0% |
| Total equity and liabilities | 10/49 | €6,232,383 | €5,302,134 | -€930,249 | -14.9% |
| Equity | 10/15 | €5,148,634 | €5,267,957 | +€119,322 | +2.3% |
| Contributions | 10/11 | €861,000 | €861,000 | = | 0.0% |
| Capital | 10 | €861,000 | €861,000 | = | 0.0% |
| Issued capital | 100 | €861,000 | €861,000 | = | 0.0% |
| Reserves | 13 | €151,122 | €151,122 | = | 0.0% |
| Non-distributable reserves | 130/1 | €151,122 | €151,122 | = | 0.0% |
| Legal reserve | 130 | €151,122 | €151,122 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,136,513 | €4,255,835 | +€119,322 | +2.9% |
| Amounts payable | 17/49 | €1,083,749 | €34,177 | -€1.0m | -96.8% |
| Amounts payable within one year | 42/48 | €1,083,749 | €34,174 | -€1.0m | -96.8% |
| Trade debts | 44 | €583,749 | €32,535 | -€551,214 | -94.4% |
| Suppliers | 440/4 | €583,749 | €32,535 | -€551,214 | -94.4% |
| Taxes, remuneration and social security | 45 | - | €1,640 | +€1,640 | |
| Taxes | 450/3 | - | €1,640 | +€1,640 | |
| Other amounts payable | 47/48 | €500,000 | €0 | -€500,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €3 | +€3 | |
| Gross operating margin | 9900 | €666,230 | -€50,297 | -€716,527 | |
| Operating profit (loss) | 9901 | €666,230 | -€50,297 | -€716,527 | |
| Financial income | 75/76B | €44,065 | €221,860 | +€177,795 | +403.5% |
| Recurring financial income | 75 | €44,065 | €221,860 | +€177,795 | +403.5% |
| Financial charges | 65/66B | €690 | €10,705 | +€10,015 | +1450.5% |
| Recurring financial charges | 65 | €690 | €10,705 | +€10,015 | +1450.5% |
| Profit (loss) for the period before taxes | 9903 | €709,604 | €160,858 | -€548,747 | -77.3% |
| Income taxes | 67/77 | - | €41,535 | +€41,535 | |
| Profit (loss) for the period | 9904 | €709,604 | €119,322 | -€590,282 | -83.2% |
| Profit (loss) for the period to be appropriated | 9905 | €709,604 | €119,322 | -€590,282 | -83.2% |
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 5 October 2026 via checked.be.