PALELA: what changed
PALELA
Largest movements
- Tangible fixed assets -€12,974
down €12,974 (-49.2%), from €26,372 to €13,398
of which Furniture and vehicles: -€10,589
- Cash +€5,837
up €5,837 (+715%), from €816 to €6,653
mainly Net result for the year (+€22,474) and Investment in fixed assets (net) (+€6,663)
- Debts after one year -€22,500
down €22,500 (-30.8%), from €73,125 to €50,625
- Profit (loss) carried forward +€22,474
up €22,474 (+20.1%), from €111,929 to €134,403
- Depreciation -€2,776
down €2,776 (-30.6%), from €9,088 to €6,311
- Gross operating margin +€2,575
up €2,575 (+4.3%), from €60,236 to €62,811
- Financial charges +€1,837
up €1,837 (+12.9%), from €14,237 to €16,074
of which Non-recurring financial charges: +€5,047
- Staff costs +€906
up €906 (+14.8%), from €6,121 to €7,027
- Taxes +€824
up €824 (+8.7%), from €9,477 to €10,301
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 | €339,015 | €332,654 | -€6,361 | -1.9% |
| Fixed assets | 21/28 | €338,149 | €325,175 | -€12,974 | -3.8% |
| Tangible fixed assets | 22/27 | €26,372 | €13,398 | -€12,974 | -49.2% |
| Land and buildings | 22 | €11,559 | €9,743 | -€1,816 | -15.7% |
| Plant, machinery and equipment | 23 | €1,354 | €785 | -€569 | -42.0% |
| Furniture and vehicles | 24 | €13,459 | €2,870 | -€10,589 | -78.7% |
| Financial fixed assets | 28 | €311,778 | €311,778 | = | 0.0% |
| Current assets | 29/58 | €865 | €7,478 | +€6,613 | +764% |
| Amounts receivable within one year | 40/41 | - | €798 | +€798 | |
| Trade receivables | 40 | - | €798 | +€798 | |
| Cash at bank and in hand | 54/58 | €816 | €6,653 | +€5,837 | +715% |
| Deferred charges and accrued income | 490/1 | €49 | €28 | -€22 | -43.9% |
| Total equity and liabilities | 10/49 | €339,015 | €332,654 | -€6,361 | -1.9% |
| Equity | 10/15 | €131,929 | €154,403 | +€22,474 | +17.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,929 | €134,403 | +€22,474 | +20.1% |
| Amounts payable | 17/49 | €207,085 | €178,251 | -€28,834 | -13.9% |
| Amounts payable after more than one year | 17 | €73,125 | €50,625 | -€22,500 | -30.8% |
| Financial debts | 170/4 | €73,125 | €50,625 | -€22,500 | -30.8% |
| Amounts payable within one year | 42/48 | €125,113 | €120,080 | -€5,033 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €25,127 | €22,500 | -€2,627 | -10.5% |
| Financial debts | 43 | €3,678 | €2,213 | -€1,465 | -39.8% |
| Credit institutions | 430/8 | €3,678 | €2,213 | -€1,465 | -39.8% |
| Trade debts | 44 | €664 | - | -€664 | |
| Suppliers | 440/4 | €664 | - | -€664 | |
| Taxes, remuneration and social security | 45 | €477 | €1,801 | +€1,324 | +277% |
| Taxes | 450/3 | €477 | €1,801 | +€1,324 | +277% |
| Other amounts payable | 47/48 | €95,167 | €93,566 | -€1,601 | -1.7% |
| Accrued charges and deferred income | 492/3 | €8,847 | €7,546 | -€1,301 | -14.7% |
| Remuneration, social security and pensions | 62 | €6,121 | €7,027 | +€906 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,088 | €6,311 | -€2,776 | -30.6% |
| Other operating charges | 640/8 | €539 | €624 | +€85 | +15.8% |
| Gross operating margin | 9900 | €60,236 | €62,811 | +€2,575 | +4.3% |
| Operating profit (loss) | 9901 | €44,489 | €48,849 | +€4,360 | +9.8% |
| Financial charges | 65/66B | €14,237 | €16,074 | +€1,837 | +12.9% |
| Recurring financial charges | 65 | €14,237 | €11,028 | -€3,210 | -22.5% |
| Non-recurring financial charges | 66B | - | €5,047 | +€5,047 | |
| Profit (loss) for the period before taxes | 9903 | €30,252 | €32,775 | +€2,523 | +8.3% |
| Income taxes | 67/77 | €9,477 | €10,301 | +€824 | +8.7% |
| Profit (loss) for the period | 9904 | €20,774 | €22,474 | +€1,699 | +8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,774 | €22,474 | +€1,699 | +8.2% |
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.