PALA: 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.
PALA
Largest movements
- Stocks and contracts -€102,546
down €102,546 (-47.7%), from €214,905 to €112,359
- Receivables within one year -€22,279
down €22,279 (-37.4%), from €59,489 to €37,211
of which Trade receivables: -€19,243
- Tangible fixed assets -€5,778
down €5,778 (-14.7%), from €39,205 to €33,427
of which Land and buildings: -€4,272
- Cash +€5,363
up €5,363 (+22.5%), from €23,789 to €29,152
mainly Stocks and contracts (+€102,546) and Receivables within one year (+€22,279)
- Trade debts -€113,111
down €113,111 (-68.0%), from €166,282 to €53,170
- Current portion of long-term debt -€30,124
down €30,124 (-100.0%), from €30,124 to €0
- Tax, wage and social debts +€15,318
up €15,318 (+45.4%), from €33,750 to €49,068
of which Taxes: +€33,450
- Profit (loss) carried forward +€6,881
up €6,881 (+7.4%), from €92,476 to €99,357
- Other debts -€4,082
down €4,082 (-100.0%), from €4,082 to €0
- Staff costs -€25,054
down €25,054 (-60.4%), from €41,464 to €16,410
- Gross operating margin -€13,434
down €13,434 (-15.8%), from €85,025 to €71,591
- Taxes +€8,809
up €8,809 (+699.0%), from €1,260 to €10,070
- Other operating charges -€8,129
down €8,129 (-50.3%), from €16,177 to €8,048
- Financial charges -€2,755
down €2,755 (-43.7%), from €6,307 to €3,552
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 | €343,455 | €218,337 | -€125,118 | -36.4% |
| Fixed assets | 21/28 | €44,811 | €39,033 | -€5,778 | -12.9% |
| Tangible fixed assets | 22/27 | €39,205 | €33,427 | -€5,778 | -14.7% |
| Land and buildings | 22 | €29,873 | €25,601 | -€4,272 | -14.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €932 | €692 | -€240 | -25.7% |
| Other tangible fixed assets | 26 | €8,400 | €7,133 | -€1,267 | -15.1% |
| Financial fixed assets | 28 | €5,606 | €5,606 | = | 0.0% |
| Current assets | 29/58 | €298,644 | €179,304 | -€119,340 | -40.0% |
| Stocks and contracts in progress | 3 | €214,905 | €112,359 | -€102,546 | -47.7% |
| Stocks | 30/36 | €214,905 | €112,359 | -€102,546 | -47.7% |
| Amounts receivable within one year | 40/41 | €59,489 | €37,211 | -€22,279 | -37.4% |
| Trade receivables | 40 | €38,990 | €19,747 | -€19,243 | -49.4% |
| Other amounts receivable | 41 | €20,499 | €17,463 | -€3,035 | -14.8% |
| Cash at bank and in hand | 54/58 | €23,789 | €29,152 | +€5,363 | +22.5% |
| Deferred charges and accrued income | 490/1 | €461 | €582 | +€121 | +26.3% |
| Total equity and liabilities | 10/49 | €343,455 | €218,337 | -€125,118 | -36.4% |
| Equity | 10/15 | €109,218 | €116,099 | +€6,881 | +6.3% |
| Contributions | 10/11 | €14,882 | €14,882 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,476 | €99,357 | +€6,881 | +7.4% |
| Amounts payable | 17/49 | €234,237 | €102,238 | -€132,000 | -56.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €234,237 | €102,238 | -€132,000 | -56.4% |
| Current portion of amounts payable after more than one year | 42 | €30,124 | €0 | -€30,124 | -100.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €166,282 | €53,170 | -€113,111 | -68.0% |
| Suppliers | 440/4 | €166,282 | €53,170 | -€113,111 | -68.0% |
| Taxes, remuneration and social security | 45 | €33,750 | €49,068 | +€15,318 | +45.4% |
| Taxes | 450/3 | €8,614 | €42,064 | +€33,450 | +388.3% |
| Remuneration and social security | 454/9 | €25,135 | €7,004 | -€18,131 | -72.1% |
| Other amounts payable | 47/48 | €4,082 | €0 | -€4,082 | -100.0% |
| Non-recurring operating income | 76A | €2,884 | €0 | -€2,884 | -100.0% |
| Remuneration, social security and pensions | 62 | €41,464 | €16,410 | -€25,054 | -60.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,523 | €7,278 | +€755 | +11.6% |
| Other operating charges | 640/8 | €16,177 | €8,048 | -€8,129 | -50.3% |
| Non-recurring operating charges | 66A | €948 | €20,122 | +€19,174 | +2023.3% |
| Gross operating margin | 9900 | €85,025 | €71,591 | -€13,434 | -15.8% |
| Operating profit (loss) | 9901 | €19,913 | €19,733 | -€180 | -0.9% |
| Financial income | 75/76B | €1,088 | €770 | -€317 | -29.2% |
| Recurring financial income | 75 | €1,088 | €770 | -€317 | -29.2% |
| Financial charges | 65/66B | €6,307 | €3,552 | -€2,755 | -43.7% |
| Recurring financial charges | 65 | €6,307 | €3,552 | -€2,755 | -43.7% |
| Profit (loss) for the period before taxes | 9903 | €14,693 | €16,951 | +€2,258 | +15.4% |
| Income taxes | 67/77 | €1,260 | €10,070 | +€8,809 | +699.0% |
| Profit (loss) for the period | 9904 | €13,433 | €6,881 | -€6,552 | -48.8% |
| Profit (loss) for the period to be appropriated | 9905 | €13,433 | €6,881 | -€6,552 | -48.8% |
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 11 October 2026 via checked.be.