PALETHIL: 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.
PALETHIL
Largest movements
- Receivables after one year +€215,000
new in 2025: €215,000
- Cash -€88,567
down €88,567 (-75.2%), from €117,774 to €29,207
mainly Receivables after one year (-€215,000) and Contributions, distributions and other (-€80,000)
- Tangible fixed assets -€15,808
down €15,808 (-21.9%), from €72,152 to €56,345
- Debts after one year +€103,882
up €103,882 (+70.2%), from €148,078 to €251,959
- Other debts +€25,969
up €25,969 (+627.7%), from €4,137 to €30,106
- Reserves -€13,276
down €13,276 (-6.8%), from €194,297 to €181,021
- Depreciation +€8,922
up €8,922 (+129.6%), from €6,886 to €15,808
- Gross operating margin -€7,454
down €7,454 (-6.2%), from €119,710 to €112,256
- Taxes -€5,800
down €5,800 (-19.9%), from €29,141 to €23,341
- Financial income +€1,979
new in 2025: €1,979
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 | €461,649 | €575,345 | +€113,696 | +24.6% |
| Fixed assets | 21/28 | €342,152 | €326,345 | -€15,808 | -4.6% |
| Tangible fixed assets | 22/27 | €72,152 | €56,345 | -€15,808 | -21.9% |
| Furniture and vehicles | 24 | €72,152 | €56,345 | -€15,808 | -21.9% |
| Financial fixed assets | 28 | €270,000 | €270,000 | = | 0.0% |
| Current assets | 29/58 | €119,496 | €249,000 | +€129,504 | +108.4% |
| Amounts receivable after more than one year | 29 | - | €215,000 | +€215,000 | |
| Other amounts receivable | 291 | - | €215,000 | +€215,000 | |
| Amounts receivable within one year | 40/41 | - | €1,659 | +€1,659 | |
| Other amounts receivable | 41 | - | €1,659 | +€1,659 | |
| Cash at bank and in hand | 54/58 | €117,774 | €29,207 | -€88,567 | -75.2% |
| Deferred charges and accrued income | 490/1 | €1,723 | €3,134 | +€1,411 | +81.9% |
| Total equity and liabilities | 10/49 | €461,649 | €575,345 | +€113,696 | +24.6% |
| Equity | 10/15 | €254,297 | €241,021 | -€13,276 | -5.2% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €194,297 | €181,021 | -€13,276 | -6.8% |
| Distributable reserves | 133 | €194,297 | €181,021 | -€13,276 | -6.8% |
| Amounts payable | 17/49 | €207,352 | €334,324 | +€126,972 | +61.2% |
| Amounts payable after more than one year | 17 | €148,078 | €251,959 | +€103,882 | +70.2% |
| Financial debts | 170/4 | €148,078 | €251,959 | +€103,882 | +70.2% |
| Amounts payable within one year | 42/48 | €59,274 | €81,421 | +€22,147 | +37.4% |
| Current portion of amounts payable after more than one year | 42 | €36,908 | €38,351 | +€1,443 | +3.9% |
| Taxes, remuneration and social security | 45 | €18,229 | €12,964 | -€5,265 | -28.9% |
| Taxes | 450/3 | €18,229 | €12,964 | -€5,265 | -28.9% |
| Other amounts payable | 47/48 | €4,137 | €30,106 | +€25,969 | +627.7% |
| Accrued charges and deferred income | 492/3 | - | €944 | +€944 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,886 | €15,808 | +€8,922 | +129.6% |
| Other operating charges | 640/8 | €682 | €1,129 | +€447 | +65.6% |
| Gross operating margin | 9900 | €119,710 | €112,256 | -€7,454 | -6.2% |
| Operating profit (loss) | 9901 | €112,142 | €95,319 | -€16,823 | -15.0% |
| Financial income | 75/76B | - | €1,979 | +€1,979 | |
| Recurring financial income | 75 | - | €1,979 | +€1,979 | |
| Financial charges | 65/66B | €6,235 | €7,234 | +€999 | +16.0% |
| Recurring financial charges | 65 | €6,235 | €7,234 | +€999 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | €105,907 | €90,064 | -€15,843 | -15.0% |
| Income taxes | 67/77 | €29,141 | €23,341 | -€5,800 | -19.9% |
| Profit (loss) for the period | 9904 | €76,766 | €66,724 | -€10,042 | -13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €76,766 | €66,724 | -€10,042 | -13.1% |
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 12 October 2026 via checked.be.