PAKA: 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.
PAKA
Largest movements
- Current investments +€1.2m
up €1.2m (+115.0%), from €1.0m to €2.2m
- Receivables after one year +€350,000
new in 2025: €350,000
- Tangible fixed assets -€260,613
down €260,613 (-45.3%), from €575,375 to €314,762
of which Land and buildings: -€257,925
- Cash +€258,820
up €258,820 (+677.4%), from €38,206 to €297,027
mainly Net result for the year (+€2.1m) and Tax, wage and social debts (+€161,019)
- Financial fixed assets +€243,782
up €243,782 (+24875.8%), from €980 to €244,762
- Reserves +€1.7m
up €1.7m (+117.4%), from €1.4m to €3.1m
of which Distributable reserves: +€1.8m
- Tax, wage and social debts +€161,019
up €161,019 (+8257.4%), from €1,950 to €162,969
- Provisions -€58,752
no longer reported in 2025 (was €58,752)
- Financial income +€2.1m
up €2.1m (+6071.5%), from €34,281 to €2.1m
- Taxes +€325,681
up €325,681 (+8668.1%), from €3,757 to €329,438
- Gross operating margin +€238,994
up €238,994 (+3815.9%), from €6,263 to €245,258
- Depreciation -€10,978
down €10,978 (-38.0%), from €28,915 to €17,937
- Other operating charges -€3,350
down €3,350 (-24.9%), from €13,431 to €10,081
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 | €2,143,454 | €3,908,897 | +€1.8m | +82.4% |
| Fixed assets | 21/28 | €576,355 | €559,524 | -€16,831 | -2.9% |
| Tangible fixed assets | 22/27 | €575,375 | €314,762 | -€260,613 | -45.3% |
| Land and buildings | 22 | €568,235 | €310,310 | -€257,925 | -45.4% |
| Plant, machinery and equipment | 23 | €6,025 | €3,927 | -€2,098 | -34.8% |
| Furniture and vehicles | 24 | €1,115 | €525 | -€591 | -52.9% |
| Financial fixed assets | 28 | €980 | €244,762 | +€243,782 | +24875.8% |
| Current assets | 29/58 | €1,567,099 | €3,349,373 | +€1.8m | +113.7% |
| Amounts receivable after more than one year | 29 | - | €350,000 | +€350,000 | |
| Other amounts receivable | 291 | - | €350,000 | +€350,000 | |
| Stocks and contracts in progress | 3 | €518,896 | €513,085 | -€5,811 | -1.1% |
| Stocks | 30/36 | €518,896 | €513,085 | -€5,811 | -1.1% |
| Amounts receivable within one year | 40/41 | €7,262 | €31,439 | +€24,177 | +332.9% |
| Other amounts receivable | 41 | €7,262 | €31,439 | +€24,177 | +332.9% |
| Current investments | 50/53 | €1,000,000 | €2,150,000 | +€1.2m | +115.0% |
| Cash at bank and in hand | 54/58 | €38,206 | €297,027 | +€258,820 | +677.4% |
| Deferred charges and accrued income | 490/1 | €2,735 | €7,823 | +€5,088 | +186.0% |
| Total equity and liabilities | 10/49 | €2,143,454 | €3,908,897 | +€1.8m | +82.4% |
| Equity | 10/15 | €2,082,255 | €3,745,614 | +€1.7m | +79.9% |
| Contributions | 10/11 | €664,899 | €664,899 | = | 0.0% |
| Capital | 10 | €664,899 | €664,899 | = | 0.0% |
| Issued capital | 100 | €778,000 | €778,000 | = | 0.0% |
| Uncalled capital | 101 | €113,101 | €113,101 | = | 0.0% |
| Reserves | 13 | €1,417,356 | €3,080,715 | +€1.7m | +117.4% |
| Non-distributable reserves | 130/1 | €77,800 | €77,800 | = | 0.0% |
| Legal reserve | 130 | €77,800 | €77,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €114,099 | - | -€114,099 | |
| Distributable reserves | 133 | €1,225,457 | €3,002,915 | +€1.8m | +145.0% |
| Provisions and deferred taxes | 16 | €58,752 | - | -€58,752 | |
| Deferred taxes | 168 | €58,752 | - | -€58,752 | |
| Amounts payable | 17/49 | €2,448 | €163,284 | +€160,836 | +6570.9% |
| Amounts payable within one year | 42/48 | €2,448 | €163,284 | +€160,836 | +6570.9% |
| Trade debts | 44 | €326 | €300 | -€26 | -8.0% |
| Suppliers | 440/4 | €326 | €300 | -€26 | -8.0% |
| Taxes, remuneration and social security | 45 | €1,950 | €162,969 | +€161,019 | +8257.4% |
| Taxes | 450/3 | €1,950 | €162,969 | +€161,019 | +8257.4% |
| Other amounts payable | 47/48 | €172 | €14 | -€157 | -91.6% |
| Non-recurring operating income | 76A | - | €270,220 | +€270,220 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,915 | €17,937 | -€10,978 | -38.0% |
| Other operating charges | 640/8 | €13,431 | €10,081 | -€3,350 | -24.9% |
| Gross operating margin | 9900 | €6,263 | €245,258 | +€238,994 | +3815.9% |
| Operating profit (loss) | 9901 | -€36,082 | €217,240 | +€253,323 | |
| Financial income | 75/76B | €34,281 | €2,115,635 | +€2.1m | +6071.5% |
| Recurring financial income | 75 | €34,281 | €2,115,635 | +€2.1m | +6071.5% |
| Financial charges | 65/66B | €548 | €414 | -€134 | -24.4% |
| Recurring financial charges | 65 | €548 | €414 | -€134 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,350 | €2,332,461 | +€2.3m | |
| Transfer from deferred taxes | 780 | €3,382 | €58,752 | +€55,370 | +1637.4% |
| Income taxes | 67/77 | €3,757 | €329,438 | +€325,681 | +8668.1% |
| Profit (loss) for the period | 9904 | -€2,725 | €2,061,775 | +€2.1m | |
| Transfer from tax-exempt reserves | 789 | €6,567 | €114,099 | +€107,531 | +1637.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,842 | €2,175,873 | +€2.2m | +56533.7% |
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 7 October 2026 via checked.be.