PAL INVEST: what changed
PAL INVEST
Largest movements
- Receivables within one year -€2,566
down €2,566 (-5.4%), from €47,134 to €44,568
of which Other amounts receivable: -€2,566
- Short-term financial debts -€290,959
down €290,959 (-23.5%), from €1.2m to €947,699
of which Credit institutions: -€284,151
- Profit (loss) carried forward +€286,549
up €286,549 (+2.5%), from -€11.6m to -€11.3m
- Trade debts +€1,845
up €1,845 (+23.4%), from €7,885 to €9,730
- Write-downs -€288,589
new in 2025: -€288,589
- Gross operating margin -€1,901
down €1,901, from €897 to -€1,005
- Financial charges +€1,215
up €1,215 (+1,960%), from €62 to €1,277
- Financial income -€416
down €416 (-56.4%), from €737 to €321
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts. So the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €47,135 | €44,569 | -€2,566 | -5.4% |
| Fixed assets | 21/28 | €1 | €1 | = | 0.0% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €47,134 | €44,568 | -€2,566 | -5.4% |
| Amounts receivable within one year | 40/41 | €47,134 | €44,568 | -€2,566 | -5.4% |
| Trade receivables | 40 | €3,000 | €3,000 | = | 0.0% |
| Other amounts receivable | 41 | €44,134 | €41,568 | -€2,566 | -5.8% |
| Total equity and liabilities | 10/49 | €47,135 | €44,569 | -€2,566 | -5.4% |
| Equity | 10/15 | -€1,199,409 | -€912,860 | +€286,549 | +23.9% |
| Contributions | 10/11 | €10,076,673 | €10,076,673 | = | 0.0% |
| Capital | 10 | €10,052,082 | €10,052,082 | = | 0.0% |
| Issued capital | 100 | €10,052,082 | €10,052,082 | = | 0.0% |
| Contributions outside capital | 11 | €24,591 | €24,591 | = | 0.0% |
| Share premium | 1100/10 | €24,591 | €24,591 | = | 0.0% |
| Reserves | 13 | €313,670 | €313,670 | = | 0.0% |
| Non-distributable reserves | 130/1 | €313,670 | €313,670 | = | 0.0% |
| Legal reserve | 130 | €313,670 | €313,670 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,589,751 | -€11,303,203 | +€286,549 | +2.5% |
| Amounts payable | 17/49 | €1,246,543 | €957,429 | -€289,115 | -23.2% |
| Amounts payable within one year | 42/48 | €1,246,543 | €957,429 | -€289,115 | -23.2% |
| Financial debts | 43 | €1,238,659 | €947,699 | -€290,959 | -23.5% |
| Credit institutions | 430/8 | €1,136,002 | €851,851 | -€284,151 | -25.0% |
| Other loans | 439 | €102,657 | €95,848 | -€6,809 | -6.6% |
| Trade debts | 44 | €7,885 | €9,730 | +€1,845 | +23.4% |
| Suppliers | 440/4 | €7,885 | €9,730 | +€1,845 | +23.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€288,589 | -€288,589 | |
| Other operating charges | 640/8 | €80 | €80 | = | 0.0% |
| Gross operating margin | 9900 | €897 | -€1,005 | -€1,901 | |
| Operating profit (loss) | 9901 | €817 | €287,504 | +€286,688 | +35,106% |
| Financial income | 75/76B | €737 | €321 | -€416 | -56.4% |
| Recurring financial income | 75 | €737 | €321 | -€416 | -56.4% |
| Financial charges | 65/66B | €62 | €1,277 | +€1,215 | +1,960% |
| Recurring financial charges | 65 | €62 | €1,277 | +€1,215 | +1,960% |
| Profit (loss) for the period before taxes | 9903 | €1,492 | €286,549 | +€285,057 | +19,108% |
| Profit (loss) for the period | 9904 | €1,492 | €286,549 | +€285,057 | +19,108% |
| Profit (loss) for the period to be appropriated | 9905 | €1,492 | €286,549 | +€285,057 | +19,108% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.