PALAS: what changed
PALAS
Largest movements
- Cash +€29,796
up €29,796 (+1,278%), from €2,332 to €32,128
mainly Advances received (+€12,562) and Net result for the year (+€11,901)
- Receivables within one year -€5,528
down €5,528 (-23.1%), from €23,905 to €18,377
of which Trade receivables: -€3,970
- Tangible fixed assets -€2,632
down €2,632 (-21.9%), from €12,018 to €9,386
of which Furniture and vehicles: -€5,183
- Advances received +€12,562
new in 2025: €12,562
- Other debts +€10,000
new in 2025: €10,000
- Trade debts -€5,237
down €5,237 (-60.6%), from €8,649 to €3,412
- Tax, wage and social debts +€4,860
up €4,860 (+112%), from €4,355 to €9,215
of which Remuneration and social security: +€3,095
- Current portion of long-term debt -€922
no longer reported in 2025 (was €922)
- Gross operating margin +€54,642
up €54,642 (+158%), from €34,566 to €89,209
- Staff costs +€33,263
up €33,263 (+101%), from €33,040 to €66,303
- Taxes -€1,745
down €1,745 (-36.9%), from €4,734 to €2,988
- Depreciation -€1,201
down €1,201 (-16.8%), from €7,154 to €5,953
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
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €39,402 | €60,801 | +€21,399 | +54.3% |
| Fixed assets | 21/28 | €12,928 | €10,296 | -€2,632 | -20.4% |
| Tangible fixed assets | 22/27 | €12,018 | €9,386 | -€2,632 | -21.9% |
| Plant, machinery and equipment | 23 | €1,631 | €4,182 | +€2,551 | +156% |
| Furniture and vehicles | 24 | €10,387 | €5,204 | -€5,183 | -49.9% |
| Financial fixed assets | 28 | €910 | €910 | = | 0.0% |
| Current assets | 29/58 | €26,474 | €50,505 | +€24,031 | +90.8% |
| Amounts receivable within one year | 40/41 | €23,905 | €18,377 | -€5,528 | -23.1% |
| Trade receivables | 40 | €16,552 | €12,582 | -€3,970 | -24.0% |
| Other amounts receivable | 41 | €7,354 | €5,796 | -€1,558 | -21.2% |
| Cash at bank and in hand | 54/58 | €2,332 | €32,128 | +€29,796 | +1,278% |
| Deferred charges and accrued income | 490/1 | €237 | - | -€237 | |
| Total equity and liabilities | 10/49 | €39,402 | €60,801 | +€21,399 | +54.3% |
| Equity | 10/15 | €25,476 | €25,612 | +€136 | +0.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,476 | €20,612 | +€136 | +0.7% |
| Amounts payable | 17/49 | €13,926 | €35,189 | +€21,263 | +153% |
| Amounts payable within one year | 42/48 | €13,926 | €35,189 | +€21,263 | +153% |
| Current portion of amounts payable after more than one year | 42 | €922 | - | -€922 | |
| Trade debts | 44 | €8,649 | €3,412 | -€5,237 | -60.6% |
| Suppliers | 440/4 | €8,649 | €3,412 | -€5,237 | -60.6% |
| Advances received on contracts in progress | 46 | - | €12,562 | +€12,562 | |
| Taxes, remuneration and social security | 45 | €4,355 | €9,215 | +€4,860 | +112% |
| Taxes | 450/3 | - | €1,765 | +€1,765 | |
| Remuneration and social security | 454/9 | €4,355 | €7,450 | +€3,095 | +71.1% |
| Other amounts payable | 47/48 | - | €10,000 | +€10,000 | |
| Remuneration, social security and pensions | 62 | €33,040 | €66,303 | +€33,263 | +101% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,154 | €5,953 | -€1,201 | -16.8% |
| Other operating charges | 640/8 | €1,248 | €1,848 | +€600 | +48.0% |
| Gross operating margin | 9900 | €34,566 | €89,209 | +€54,642 | +158% |
| Operating profit (loss) | 9901 | -€6,876 | €15,104 | +€21,981 | |
| Financial income | 75/76B | €0 | €3 | +€3 | +7,475% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +7,475% |
| Financial charges | 65/66B | €277 | €218 | -€59 | -21.4% |
| Recurring financial charges | 65 | €277 | €218 | -€59 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,154 | €14,889 | +€22,043 | |
| Income taxes | 67/77 | €4,734 | €2,988 | -€1,745 | -36.9% |
| Profit (loss) for the period | 9904 | -€11,887 | €11,901 | +€23,788 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,887 | €11,901 | +€23,788 |
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 6 November 2026 via checked.be.