PAK GOLD: 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.
PAK GOLD
Largest movements
- Receivables within one year -€117,161
down €117,161 (-98.8%), from €118,631 to €1,470
of which Trade receivables: -€116,472
- Advances received -€62,591
no longer reported in 2025 (was €62,591)
- Other debts -€47,723
down €47,723 (-91.2%), from €52,351 to €4,628
- Trade debts -€10,151
down €10,151 (-74.9%), from €13,550 to €3,399
- Tax, wage and social debts +€2,017
up €2,017 (+45.0%), from €4,482 to €6,500
of which Remuneration and social security: +€2,470
- Profit (loss) carried forward +€1,749
up €1,749 (+78.8%), from €2,219 to €3,968
- Other operating charges +€2,680
up €2,680 (+179%), from €1,500 to €4,180
- Depreciation -€1,539
down €1,539 (-64.5%), from €2,387 to €848
- Gross operating margin +€1,197
up €1,197 (+2.7%), from €45,136 to €46,333
- Taxes -€907
down €907, from €594 to -€313
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 | €144,093 | €27,395 | -€116,699 | -81.0% |
| Fixed assets | 21/28 | €2,471 | €1,622 | -€848 | -34.3% |
| Tangible fixed assets | 22/27 | €2,111 | €1,262 | -€848 | -40.2% |
| Plant, machinery and equipment | 23 | €2,111 | €1,262 | -€848 | -40.2% |
| Financial fixed assets | 28 | €360 | €360 | = | 0.0% |
| Current assets | 29/58 | €141,623 | €25,772 | -€115,850 | -81.8% |
| Stocks and contracts in progress | 3 | €22,475 | €23,581 | +€1,106 | +4.9% |
| Stocks | 30/36 | €22,475 | €23,581 | +€1,106 | +4.9% |
| Amounts receivable within one year | 40/41 | €118,631 | €1,470 | -€117,161 | -98.8% |
| Trade receivables | 40 | €116,472 | - | -€116,472 | |
| Other amounts receivable | 41 | €2,159 | €1,470 | -€689 | -31.9% |
| Cash at bank and in hand | 54/58 | €253 | €721 | +€468 | +185% |
| Deferred charges and accrued income | 490/1 | €264 | - | -€264 | |
| Total equity and liabilities | 10/49 | €144,093 | €27,395 | -€116,699 | -81.0% |
| Equity | 10/15 | €11,119 | €12,868 | +€1,749 | +15.7% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €1,900 | €1,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,219 | €3,968 | +€1,749 | +78.8% |
| Amounts payable | 17/49 | €132,974 | €14,526 | -€118,448 | -89.1% |
| Amounts payable within one year | 42/48 | €132,974 | €14,526 | -€118,448 | -89.1% |
| Trade debts | 44 | €13,550 | €3,399 | -€10,151 | -74.9% |
| Suppliers | 440/4 | €13,550 | €3,399 | -€10,151 | -74.9% |
| Advances received on contracts in progress | 46 | €62,591 | - | -€62,591 | |
| Taxes, remuneration and social security | 45 | €4,482 | €6,500 | +€2,017 | +45.0% |
| Taxes | 450/3 | €594 | €141 | -€453 | -76.3% |
| Remuneration and social security | 454/9 | €3,889 | €6,359 | +€2,470 | +63.5% |
| Other amounts payable | 47/48 | €52,351 | €4,628 | -€47,723 | -91.2% |
| Remuneration, social security and pensions | 62 | €38,309 | €37,906 | -€404 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,387 | €848 | -€1,539 | -64.5% |
| Other operating charges | 640/8 | €1,500 | €4,180 | +€2,680 | +179% |
| Gross operating margin | 9900 | €45,136 | €46,333 | +€1,197 | +2.7% |
| Operating profit (loss) | 9901 | €2,940 | €3,398 | +€458 | +15.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €2,372 | €1,964 | -€408 | -17.2% |
| Recurring financial charges | 65 | €2,372 | €1,964 | -€408 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €568 | €1,436 | +€868 | +153% |
| Income taxes | 67/77 | €594 | -€313 | -€907 | |
| Profit (loss) for the period | 9904 | -€26 | €1,749 | +€1,775 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26 | €1,749 | +€1,775 |
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 20 October 2026 via checked.be.