PALAEM: 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.
PALAEM
Largest movements
- Receivables within one year +€15,125
new in 2025: €15,125
- Cash +€8,788
up €8,788 (+30.8%), from €28,545 to €37,333
mainly Net result for the year (+€22,365) and Tax, wage and social debts (+€3,752)
- Tangible fixed assets +€1,983
new in 2025: €1,983
- Reserves +€22,365
new in 2025: €22,365
- Tax, wage and social debts +€3,752
up €3,752 (+29.5%), from €12,705 to €16,458
- Trade debts -€611
down €611 (-39.5%), from €1,549 to €937
- Gross operating margin +€16,008
up €16,008 (+100.2%), from €15,971 to €31,979
- Taxes +€5,461
up €5,461 (+162.8%), from €3,354 to €8,815
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 | €29,959 | €55,569 | +€25,610 | +85.5% |
| Fixed assets | 21/28 | - | €1,983 | +€1,983 | |
| Tangible fixed assets | 22/27 | - | €1,983 | +€1,983 | |
| Furniture and vehicles | 24 | - | €1,983 | +€1,983 | |
| Current assets | 29/58 | €29,959 | €53,586 | +€23,627 | +78.9% |
| Amounts receivable within one year | 40/41 | - | €15,125 | +€15,125 | |
| Trade receivables | 40 | - | €15,125 | +€15,125 | |
| Cash at bank and in hand | 54/58 | €28,545 | €37,333 | +€8,788 | +30.8% |
| Deferred charges and accrued income | 490/1 | €1,414 | €1,128 | -€286 | -20.2% |
| Total equity and liabilities | 10/49 | €29,959 | €55,569 | +€25,610 | +85.5% |
| Equity | 10/15 | €14,974 | €37,339 | +€22,365 | +149.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €22,365 | +€22,365 | |
| Distributable reserves | 133 | - | €22,365 | +€22,365 | |
| Profit (loss) carried forward | 14 | €11,974 | €11,974 | = | 0.0% |
| Amounts payable | 17/49 | €14,985 | €18,230 | +€3,245 | +21.7% |
| Amounts payable within one year | 42/48 | €14,985 | €18,126 | +€3,141 | +21.0% |
| Trade debts | 44 | €1,549 | €937 | -€611 | -39.5% |
| Suppliers | 440/4 | €1,549 | €937 | -€611 | -39.5% |
| Taxes, remuneration and social security | 45 | €12,705 | €16,458 | +€3,752 | +29.5% |
| Taxes | 450/3 | €12,705 | €16,458 | +€3,752 | +29.5% |
| Other amounts payable | 47/48 | €731 | €731 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €104 | +€104 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €110 | +€110 | |
| Other operating charges | 640/8 | €493 | €615 | +€122 | +24.7% |
| Gross operating margin | 9900 | €15,971 | €31,979 | +€16,008 | +100.2% |
| Operating profit (loss) | 9901 | €15,479 | €31,255 | +€15,777 | +101.9% |
| Financial charges | 65/66B | €151 | €75 | -€76 | -50.4% |
| Recurring financial charges | 65 | €151 | €75 | -€76 | -50.4% |
| Profit (loss) for the period before taxes | 9903 | €15,327 | €31,180 | +€15,853 | +103.4% |
| Income taxes | 67/77 | €3,354 | €8,815 | +€5,461 | +162.8% |
| Profit (loss) for the period | 9904 | €11,974 | €22,365 | +€10,392 | +86.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,974 | €22,365 | +€10,392 | +86.8% |
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 3 October 2026 via checked.be.