PAKHUS 5: 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.
PAKHUS 5
Largest movements
- Stocks and contracts +€62,402
up €62,402 (+15.2%), from €409,534 to €471,935
- Receivables within one year -€32,568
down €32,568 (-16.1%), from €201,697 to €169,129
of which Trade receivables: -€18,624
- Tangible fixed assets -€19,923
down €19,923 (-30.7%), from €64,938 to €45,016
of which Furniture and vehicles: -€17,890
- Cash -€17,881
down €17,881 (-28.1%), from €63,608 to €45,727
mainly Stocks and contracts (-€62,402) and Other debts (-€29,389)
- Other debts -€29,389
down €29,389 (-20.3%), from €144,743 to €115,354
- Reserves +€22,875
up €22,875 (+7.8%), from €293,669 to €316,544
of which Distributable reserves: +€22,875
- Trade debts +€18,138
up €18,138 (+749.2%), from €2,421 to €20,559
- Debts after one year -€15,301
down €15,301 (-7.6%), from €202,223 to €186,922
- Gross operating margin -€24,138
down €24,138 (-10.3%), from €233,356 to €209,218
- Staff costs +€18,151
up €18,151 (+16.1%), from €113,079 to €131,231
- Taxes -€15,881
down €15,881 (-52.8%), from €30,091 to €14,210
- Other operating charges +€4,416
up €4,416 (+132.5%), from €3,332 to €7,748
- Depreciation +€2,902
up €2,902 (+17.1%), from €17,020 to €19,923
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €746,107 | €732,031 | -€14,077 | -1.9% |
| Fixed assets | 21/28 | €65,161 | €45,239 | -€19,923 | -30.6% |
| Tangible fixed assets | 22/27 | €64,938 | €45,016 | -€19,923 | -30.7% |
| Plant, machinery and equipment | 23 | €3,002 | €969 | -€2,033 | -67.7% |
| Furniture and vehicles | 24 | €61,936 | €44,046 | -€17,890 | -28.9% |
| Financial fixed assets | 28 | €223 | €223 | = | 0.0% |
| Current assets | 29/58 | €680,946 | €686,792 | +€5,846 | +0.9% |
| Stocks and contracts in progress | 3 | €409,534 | €471,935 | +€62,402 | +15.2% |
| Stocks | 30/36 | €409,534 | €471,935 | +€62,402 | +15.2% |
| Amounts receivable within one year | 40/41 | €201,697 | €169,129 | -€32,568 | -16.1% |
| Trade receivables | 40 | €186,340 | €167,716 | -€18,624 | -10.0% |
| Other amounts receivable | 41 | €15,357 | €1,413 | -€13,944 | -90.8% |
| Cash at bank and in hand | 54/58 | €63,608 | €45,727 | -€17,881 | -28.1% |
| Deferred charges and accrued income | 490/1 | €6,107 | - | -€6,107 | |
| Total equity and liabilities | 10/49 | €746,107 | €732,031 | -€14,077 | -1.9% |
| Equity | 10/15 | €358,669 | €381,544 | +€22,875 | +6.4% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €293,669 | €316,544 | +€22,875 | +7.8% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Distributable reserves | 133 | €287,169 | €310,044 | +€22,875 | +8.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €387,438 | €350,487 | -€36,951 | -9.5% |
| Amounts payable after more than one year | 17 | €202,223 | €186,922 | -€15,301 | -7.6% |
| Financial debts | 170/4 | €202,223 | €186,922 | -€15,301 | -7.6% |
| Amounts payable within one year | 42/48 | €185,215 | €163,565 | -€21,650 | -11.7% |
| Current portion of amounts payable after more than one year | 42 | €22,736 | €15,301 | -€7,435 | -32.7% |
| Trade debts | 44 | €2,421 | €20,559 | +€18,138 | +749.2% |
| Suppliers | 440/4 | €2,421 | €20,559 | +€18,138 | +749.2% |
| Taxes, remuneration and social security | 45 | €15,316 | €12,351 | -€2,965 | -19.4% |
| Taxes | 450/3 | €3,948 | €3,608 | -€341 | -8.6% |
| Remuneration and social security | 454/9 | €11,367 | €8,743 | -€2,624 | -23.1% |
| Other amounts payable | 47/48 | €144,743 | €115,354 | -€29,389 | -20.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €4,500 | - | -€4,500 | |
| Remuneration, social security and pensions | 62 | €113,079 | €131,231 | +€18,151 | +16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,020 | €19,923 | +€2,902 | +17.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €795 | - | -€795 | |
| Other operating charges | 640/8 | €3,332 | €7,748 | +€4,416 | +132.5% |
| Gross operating margin | 9900 | €233,356 | €209,218 | -€24,138 | -10.3% |
| Operating profit (loss) | 9901 | €99,130 | €50,316 | -€48,814 | -49.2% |
| Financial income | 75/76B | €766 | €261 | -€505 | -65.9% |
| Recurring financial income | 75 | €766 | €261 | -€505 | -65.9% |
| Financial charges | 65/66B | €11,583 | €13,492 | +€1,909 | +16.5% |
| Recurring financial charges | 65 | €11,583 | €13,492 | +€1,909 | +16.5% |
| Profit (loss) for the period before taxes | 9903 | €88,313 | €37,085 | -€51,228 | -58.0% |
| Income taxes | 67/77 | €30,091 | €14,210 | -€15,881 | -52.8% |
| Profit (loss) for the period | 9904 | €58,222 | €22,875 | -€35,348 | -60.7% |
| Profit (loss) for the period to be appropriated | 9905 | €58,222 | €22,875 | -€35,348 | -60.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.