PAIX 14: 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.
PAIX 14
Largest movements
- Cash +€213,233
up €213,233 (+3,008%), from €7,088 to €220,321
mainly Net result for the year (+€246,293) and Investment in fixed assets (net) (+€104,180)
- Tangible fixed assets -€104,180
no longer reported in 2025 (was €104,180)
- Reserves +€283,949
up €283,949 (+15,266%), from €1,860 to €285,809
of which Tax-exempt reserves: +€283,949
- Other debts -€81,000
down €81,000 (-99.0%), from €81,821 to €821
- Debts after one year -€44,499
no longer reported in 2025 (was €44,499)
- Profit (loss) carried forward -€37,656
down €37,656 (-108%), from -€34,853 to -€72,509
- Current portion of long-term debt -€9,823
no longer reported in 2025 (was €9,823)
- Turnover +€262,426
up €262,426 (+754%), from €34,789 to €297,215
- Gross operating margin +€240,170
up €240,170 (+1,944%), from €12,352 to €252,522
- Purchases and services +€23,124
up €23,124 (+103%), from €22,437 to €45,561
- Depreciation -€8,162
no longer reported in 2025 (was €8,162)
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 | €111,273 | €220,321 | +€109,048 | +98.0% |
| Fixed assets | 21/28 | €104,180 | - | -€104,180 | |
| Tangible fixed assets | 22/27 | €104,180 | - | -€104,180 | |
| Land and buildings | 22 | €104,180 | - | -€104,180 | |
| Current assets | 29/58 | €7,092 | €220,321 | +€213,228 | +3,006% |
| Amounts receivable within one year | 40/41 | €5 | - | -€5 | |
| Other amounts receivable | 41 | €5 | - | -€5 | |
| Cash at bank and in hand | 54/58 | €7,088 | €220,321 | +€213,233 | +3,008% |
| Total equity and liabilities | 10/49 | €111,273 | €220,321 | +€109,048 | +98.0% |
| Equity | 10/15 | -€26,793 | €219,500 | +€246,293 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €285,809 | +€283,949 | +15,266% |
| Tax-exempt reserves | 132 | - | €283,949 | +€283,949 | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,853 | -€72,509 | -€37,656 | -108% |
| Amounts payable | 17/49 | €138,066 | €821 | -€137,246 | -99.4% |
| Amounts payable after more than one year | 17 | €44,499 | - | -€44,499 | |
| Financial debts | 170/4 | €44,499 | - | -€44,499 | |
| Amounts payable within one year | 42/48 | €93,567 | €821 | -€92,747 | -99.1% |
| Current portion of amounts payable after more than one year | 42 | €9,823 | - | -€9,823 | |
| Trade debts | 44 | €1,079 | - | -€1,079 | |
| Suppliers | 440/4 | €1,079 | - | -€1,079 | |
| Taxes, remuneration and social security | 45 | €845 | - | -€845 | |
| Taxes | 450/3 | €845 | - | -€845 | |
| Other amounts payable | 47/48 | €81,821 | €821 | -€81,000 | -99.0% |
| Turnover | 70 | €34,789 | €297,215 | +€262,426 | +754% |
| Non-recurring operating income | 76A | - | €868 | +€868 | |
| Goods, raw materials, services and sundry goods | 60/61 | €22,437 | €45,561 | +€23,124 | +103% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,162 | - | -€8,162 | |
| Other operating charges | 640/8 | €5,157 | €4,511 | -€645 | -12.5% |
| Gross operating margin | 9900 | €12,352 | €252,522 | +€240,170 | +1,944% |
| Operating profit (loss) | 9901 | -€967 | €248,011 | +€248,978 | |
| Financial charges | 65/66B | €3,975 | €1,717 | -€2,258 | -56.8% |
| Recurring financial charges | 65 | €3,975 | €1,717 | -€2,258 | -56.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,942 | €246,293 | +€251,235 | |
| Profit (loss) for the period | 9904 | -€4,942 | €246,293 | +€251,235 | |
| Transfer to tax-exempt reserves | 689 | - | €283,949 | +€283,949 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,942 | -€37,656 | -€32,714 | -662% |
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 23 October 2026 via checked.be.