PAKAZE: 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.
PAKAZE
Largest movements
- Receivables within one year -€1,348
down €1,348 (-46.7%), from €2,884 to €1,536
of which Trade receivables: -€1,185
- Cash -€961
down €961 (-58.6%), from €1,640 to €679
mainly Net result for the year (-€1,488) and Advances received (-€1,429)
- Tangible fixed assets -€319
down €319 (-35.3%), from €903 to €584
- Stocks and contracts +€100
up €100 (+50.0%), from €200 to €300
- Profit (loss) carried forward -€1,488
down €1,488 (-2.4%), from -€63,121 to -€64,609
- Advances received -€1,429
down €1,429 (-44.3%), from €3,226 to €1,797
- Trade debts +€415
up €415 (+347.9%), from €119 to €534
- Depreciation +€266
up €266 (+499.9%), from €53 to €319
- Financial income -€35
no longer reported in 2025 (was €35)
- Gross operating margin -€34
down €34 (-3.2%), from -€1,081 to -€1,115
- Financial charges +€13
up €13 (+30.4%), from €41 to €54
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 | €5,627 | €3,099 | -€2,528 | -44.9% |
| Fixed assets | 21/28 | €903 | €584 | -€319 | -35.3% |
| Tangible fixed assets | 22/27 | €903 | €584 | -€319 | -35.3% |
| Furniture and vehicles | 24 | €903 | €584 | -€319 | -35.3% |
| Current assets | 29/58 | €4,724 | €2,515 | -€2,209 | -46.8% |
| Stocks and contracts in progress | 3 | €200 | €300 | +€100 | +50.0% |
| Stocks | 30/36 | €200 | €300 | +€100 | +50.0% |
| Amounts receivable within one year | 40/41 | €2,884 | €1,536 | -€1,348 | -46.7% |
| Trade receivables | 40 | €2,666 | €1,481 | -€1,185 | -44.5% |
| Other amounts receivable | 41 | €218 | €55 | -€163 | -74.7% |
| Cash at bank and in hand | 54/58 | €1,640 | €679 | -€961 | -58.6% |
| Total equity and liabilities | 10/49 | €5,627 | €3,099 | -€2,528 | -44.9% |
| Equity | 10/15 | -€4,121 | -€5,609 | -€1,488 | -36.1% |
| Contributions | 10/11 | €59,000 | €59,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,121 | -€64,609 | -€1,488 | -2.4% |
| Amounts payable | 17/49 | €9,748 | €8,708 | -€1,040 | -10.7% |
| Amounts payable within one year | 42/48 | €9,748 | €8,708 | -€1,040 | -10.7% |
| Trade debts | 44 | €119 | €534 | +€415 | +347.9% |
| Suppliers | 440/4 | €119 | €534 | +€415 | +347.9% |
| Advances received on contracts in progress | 46 | €3,226 | €1,797 | -€1,429 | -44.3% |
| Other amounts payable | 47/48 | €6,403 | €6,377 | -€26 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53 | €319 | +€266 | +499.9% |
| Gross operating margin | 9900 | -€1,081 | -€1,115 | -€34 | -3.2% |
| Operating profit (loss) | 9901 | -€1,134 | -€1,434 | -€300 | -26.4% |
| Financial income | 75/76B | €35 | - | -€35 | |
| Recurring financial income | 75 | €35 | - | -€35 | |
| Financial charges | 65/66B | €41 | €54 | +€13 | +30.4% |
| Recurring financial charges | 65 | €41 | €54 | +€13 | +30.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,140 | -€1,488 | -€347 | -30.5% |
| Profit (loss) for the period | 9904 | -€1,140 | -€1,488 | -€347 | -30.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,140 | -€1,488 | -€347 | -30.5% |
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 29 September 2026 via checked.be.