Pairon Hugo: 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.
Pairon Hugo
Largest movements
- Cash +€39,877
up €39,877 (+14.5%), from €274,696 to €314,573
mainly Net result for the year (+€47,989) and Receivables within one year (+€3,000)
- Current investments +€8,262
up €8,262 (+5.9%), from €140,958 to €149,221
- Reserves +€47,989
up €47,989 (+10.0%), from €480,939 to €528,927
of which Distributable reserves: +€47,989
- Gross operating margin -€10,367
down €10,367 (-11.7%), from €88,290 to €77,923
- Taxes -€3,448
down €3,448 (-12.0%), from €28,773 to €25,325
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 | €578,587 | €621,891 | +€43,305 | +7.5% |
| Fixed assets | 21/28 | €2,497 | €1,539 | -€958 | -38.4% |
| Tangible fixed assets | 22/27 | €2,497 | €1,539 | -€958 | -38.4% |
| Furniture and vehicles | 24 | €2,497 | €1,539 | -€958 | -38.4% |
| Current assets | 29/58 | €576,090 | €620,353 | +€44,262 | +7.7% |
| Amounts receivable within one year | 40/41 | €154,475 | €151,475 | -€3,000 | -1.9% |
| Other amounts receivable | 41 | €154,475 | €151,475 | -€3,000 | -1.9% |
| Current investments | 50/53 | €140,958 | €149,221 | +€8,262 | +5.9% |
| Cash at bank and in hand | 54/58 | €274,696 | €314,573 | +€39,877 | +14.5% |
| Deferred charges and accrued income | 490/1 | €5,961 | €5,084 | -€877 | -14.7% |
| Total equity and liabilities | 10/49 | €578,587 | €621,891 | +€43,305 | +7.5% |
| Equity | 10/15 | €481,939 | €529,927 | +€47,989 | +10.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €480,939 | €528,927 | +€47,989 | +10.0% |
| Tax-exempt reserves | 132 | €15,378 | €15,378 | = | 0.0% |
| Distributable reserves | 133 | €465,561 | €513,550 | +€47,989 | +10.3% |
| Amounts payable | 17/49 | €96,648 | €91,964 | -€4,684 | -4.8% |
| Amounts payable within one year | 42/48 | €93,573 | €88,183 | -€5,391 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €8,771 | €8,913 | +€142 | +1.6% |
| Credit institutions | 430/8 | €8,771 | €8,913 | +€142 | +1.6% |
| Trade debts | 44 | €3,073 | €3,415 | +€342 | +11.1% |
| Suppliers | 440/4 | €3,073 | €3,415 | +€342 | +11.1% |
| Taxes, remuneration and social security | 45 | €13,773 | €10,299 | -€3,474 | -25.2% |
| Taxes | 450/3 | €13,773 | €10,299 | -€3,474 | -25.2% |
| Other amounts payable | 47/48 | €67,957 | €65,556 | -€2,401 | -3.5% |
| Accrued charges and deferred income | 492/3 | €3,075 | €3,781 | +€707 | +23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €377 | €958 | +€581 | +154.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €742 | €731 | -€11 | -1.5% |
| Gross operating margin | 9900 | €88,290 | €77,923 | -€10,367 | -11.7% |
| Operating profit (loss) | 9901 | €87,171 | €76,234 | -€10,937 | -12.5% |
| Financial income | 75/76B | €1,189 | €1,294 | +€105 | +8.8% |
| Recurring financial income | 75 | €1,189 | €1,294 | +€105 | +8.8% |
| Financial charges | 65/66B | €3,860 | €4,215 | +€355 | +9.2% |
| Recurring financial charges | 65 | €3,860 | €4,215 | +€355 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €84,501 | €73,314 | -€11,187 | -13.2% |
| Income taxes | 67/77 | €28,773 | €25,325 | -€3,448 | -12.0% |
| Profit (loss) for the period | 9904 | €55,728 | €47,989 | -€7,740 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €55,728 | €47,989 | -€7,740 | -13.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.