PAIVACONSTRUCT: 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.
PAIVACONSTRUCT
Largest movements
- Receivables within one year -€16,883
down €16,883 (-67.0%), from €25,204 to €8,321
of which Trade receivables: -€17,487
- Tangible fixed assets -€9,613
down €9,613 (-20.1%), from €47,839 to €38,227
of which Land and buildings: -€8,885
- Debts after one year -€16,293
down €16,293 (-18.7%), from €86,959 to €70,666
- Trade debts -€15,556
down €15,556 (-62.8%), from €24,773 to €9,217
- Profit (loss) carried forward +€8,678
up €8,678 (+11.7%), from -€74,204 to -€65,527
- Short-term financial debts -€3,754
down €3,754 (-44.9%), from €8,362 to €4,608
- Tax, wage and social debts -€1,055
down €1,055 (-67.3%), from €1,567 to €512
of which Taxes: -€1,055
- Gross operating margin +€50,375
up €50,375, from -€23,815 to €26,560
- Financial charges -€3,444
down €3,444 (-39.3%), from €8,758 to €5,315
- Taxes +€2,145
up €2,145, from -€2,070 to €75
- Other operating charges +€1,400
up €1,400 (+94.5%), from €1,481 to €2,881
- Staff costs +€796
up €796, from -€796 to €0
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 | €75,585 | €49,169 | -€26,417 | -34.9% |
| Fixed assets | 21/28 | €47,989 | €38,377 | -€9,613 | -20.0% |
| Tangible fixed assets | 22/27 | €47,839 | €38,227 | -€9,613 | -20.1% |
| Land and buildings | 22 | €46,614 | €37,728 | -€8,885 | -19.1% |
| Plant, machinery and equipment | 23 | €1,226 | €498 | -€728 | -59.3% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €27,596 | €10,792 | -€16,804 | -60.9% |
| Amounts receivable within one year | 40/41 | €25,204 | €8,321 | -€16,883 | -67.0% |
| Trade receivables | 40 | €24,746 | €7,259 | -€17,487 | -70.7% |
| Other amounts receivable | 41 | €458 | €1,062 | +€604 | +131.7% |
| Cash at bank and in hand | 54/58 | €1,374 | €2,068 | +€695 | +50.6% |
| Deferred charges and accrued income | 490/1 | €1,018 | €403 | -€615 | -60.4% |
| Total equity and liabilities | 10/49 | €75,585 | €49,169 | -€26,417 | -34.9% |
| Equity | 10/15 | -€66,144 | -€57,467 | +€8,678 | +13.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€74,204 | -€65,527 | +€8,678 | +11.7% |
| Amounts payable | 17/49 | €141,730 | €106,635 | -€35,094 | -24.8% |
| Amounts payable after more than one year | 17 | €86,959 | €70,666 | -€16,293 | -18.7% |
| Financial debts | 170/4 | €86,959 | €70,666 | -€16,293 | -18.7% |
| Amounts payable within one year | 42/48 | €54,771 | €35,970 | -€18,802 | -34.3% |
| Current portion of amounts payable after more than one year | 42 | €15,743 | €16,293 | +€550 | +3.5% |
| Financial debts | 43 | €8,362 | €4,608 | -€3,754 | -44.9% |
| Credit institutions | 430/8 | €8,362 | €4,608 | -€3,754 | -44.9% |
| Trade debts | 44 | €24,773 | €9,217 | -€15,556 | -62.8% |
| Suppliers | 440/4 | €24,773 | €9,217 | -€15,556 | -62.8% |
| Taxes, remuneration and social security | 45 | €1,567 | €512 | -€1,055 | -67.3% |
| Taxes | 450/3 | €1,567 | €512 | -€1,055 | -67.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €4,326 | €5,339 | +€1,013 | +23.4% |
| Remuneration, social security and pensions | 62 | -€796 | €0 | +€796 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,613 | €9,613 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,481 | €2,881 | +€1,400 | +94.5% |
| Gross operating margin | 9900 | -€23,815 | €26,560 | +€50,375 | |
| Operating profit (loss) | 9901 | -€34,112 | €14,066 | +€48,178 | |
| Financial income | 75/76B | €2 | €1 | -€1 | -62.2% |
| Recurring financial income | 75 | €2 | €1 | -€1 | -62.2% |
| Financial charges | 65/66B | €8,758 | €5,315 | -€3,444 | -39.3% |
| Recurring financial charges | 65 | €8,758 | €5,315 | -€3,444 | -39.3% |
| Profit (loss) for the period before taxes | 9903 | -€42,868 | €8,752 | +€51,621 | |
| Income taxes | 67/77 | -€2,070 | €75 | +€2,145 | |
| Profit (loss) for the period | 9904 | -€40,798 | €8,678 | +€49,475 | |
| Profit (loss) for the period to be appropriated | 9905 | -€40,798 | €8,678 | +€49,475 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.