PAHRTNERS: 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.
PAHRTNERS
Largest movements
- Cash -€267,361
down €267,361 (-59.4%), from €449,974 to €182,613
mainly Net result for the year (-€201,520) and Other debts (-€69,041)
- Receivables within one year -€30,776
down €30,776 (-10.7%), from €288,433 to €257,657
- Tangible fixed assets -€25,017
down €25,017 (-17.3%), from €144,356 to €119,339
of which Furniture and vehicles: -€15,632
- Deferred charges and accrued income +€13,275
up €13,275 (+171%), from €7,782 to €21,057
- Intangible fixed assets +€13,060
new in 2025: €13,060
- Profit (loss) carried forward -€201,520
new in 2025: -€201,520
- Other debts -€69,041
down €69,041 (-25.8%), from €268,012 to €198,971
- Tax, wage and social debts -€41,741
down €41,741 (-22.7%), from €183,694 to €141,953
of which Taxes: -€47,685
- Trade debts +€27,812
up €27,812 (+251%), from €11,073 to €38,885
- Debts after one year -€11,439
down €11,439 (-19.6%), from €58,482 to €47,043
- Gross operating margin -€270,413
down €270,413 (-33.3%), from €811,708 to €541,295
- Taxes -€32,000
down €32,000 (-95.1%), from €33,643 to €1,643
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 | €897,531 | €600,194 | -€297,337 | -33.1% |
| Fixed assets | 21/28 | €151,342 | €138,867 | -€12,476 | -8.2% |
| Intangible fixed assets | 21 | - | €13,060 | +€13,060 | |
| Tangible fixed assets | 22/27 | €144,356 | €119,339 | -€25,017 | -17.3% |
| Land and buildings | 22 | €82,628 | €79,456 | -€3,172 | -3.8% |
| Plant, machinery and equipment | 23 | €3,546 | €2,786 | -€760 | -21.4% |
| Furniture and vehicles | 24 | €44,198 | €28,566 | -€15,632 | -35.4% |
| Leasing and similar rights | 25 | €13,545 | €8,531 | -€5,014 | -37.0% |
| Other tangible fixed assets | 26 | €439 | - | -€439 | |
| Financial fixed assets | 28 | €6,987 | €6,468 | -€519 | -7.4% |
| Current assets | 29/58 | €746,189 | €461,327 | -€284,861 | -38.2% |
| Amounts receivable within one year | 40/41 | €288,433 | €257,657 | -€30,776 | -10.7% |
| Trade receivables | 40 | €288,433 | €257,657 | -€30,776 | -10.7% |
| Cash at bank and in hand | 54/58 | €449,974 | €182,613 | -€267,361 | -59.4% |
| Deferred charges and accrued income | 490/1 | €7,782 | €21,057 | +€13,275 | +171% |
| Total equity and liabilities | 10/49 | €897,531 | €600,194 | -€297,337 | -33.1% |
| Equity | 10/15 | €363,208 | €161,689 | -€201,520 | -55.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €344,608 | €344,608 | = | 0.0% |
| Distributable reserves | 133 | €344,608 | €344,608 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€201,520 | -€201,520 | |
| Amounts payable | 17/49 | €534,322 | €438,505 | -€95,817 | -17.9% |
| Amounts payable after more than one year | 17 | €58,482 | €47,043 | -€11,439 | -19.6% |
| Financial debts | 170/4 | €58,482 | €47,043 | -€11,439 | -19.6% |
| Amounts payable within one year | 42/48 | €475,840 | €391,462 | -€84,378 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €13,061 | €11,439 | -€1,622 | -12.4% |
| Financial debts | 43 | - | €214 | +€214 | |
| Credit institutions | 430/8 | - | €214 | +€214 | |
| Trade debts | 44 | €11,073 | €38,885 | +€27,812 | +251% |
| Suppliers | 440/4 | €11,073 | €38,885 | +€27,812 | +251% |
| Taxes, remuneration and social security | 45 | €183,694 | €141,953 | -€41,741 | -22.7% |
| Taxes | 450/3 | €128,409 | €80,724 | -€47,685 | -37.1% |
| Remuneration and social security | 454/9 | €55,285 | €61,229 | +€5,943 | +10.8% |
| Other amounts payable | 47/48 | €268,012 | €198,971 | -€69,041 | -25.8% |
| Non-recurring operating income | 76A | €13,638 | - | -€13,638 | |
| Remuneration, social security and pensions | 62 | €688,944 | €681,131 | -€7,813 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,853 | €28,823 | -€8,030 | -21.8% |
| Other operating charges | 640/8 | €1,834 | €3,522 | +€1,688 | +92.0% |
| Non-recurring operating charges | 66A | - | €1,419 | +€1,419 | |
| Gross operating margin | 9900 | €811,708 | €541,295 | -€270,413 | -33.3% |
| Operating profit (loss) | 9901 | €84,077 | -€173,600 | -€257,677 | |
| Financial income | 75/76B | €3,898 | €44 | -€3,853 | -98.9% |
| Recurring financial income | 75 | €3,898 | €44 | -€3,853 | -98.9% |
| Financial charges | 65/66B | €24,426 | €26,321 | +€1,895 | +7.8% |
| Recurring financial charges | 65 | €24,426 | €26,321 | +€1,895 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €63,549 | -€199,877 | -€263,425 | |
| Income taxes | 67/77 | €33,643 | €1,643 | -€32,000 | -95.1% |
| Profit (loss) for the period | 9904 | €29,906 | -€201,520 | -€231,425 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,906 | -€201,520 | -€231,425 |
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 17 October 2026 via checked.be.