PALLAS AGENCIES: 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.
PALLAS AGENCIES
Largest movements
- Stocks and contracts -€37,472
down €37,472 (-48.4%), from €77,472 to €40,000
of which Contracts in progress: -€77,472
- Receivables within one year -€15,622
down €15,622 (-49.3%), from €31,695 to €16,074
of which Trade receivables: -€15,622
- Profit (loss) carried forward -€45,687
down €45,687 (-543%), from -€8,420 to -€54,107
- Trade debts -€24,084
down €24,084 (-75.0%), from €32,118 to €8,033
- Other debts +€14,736
up €14,736 (+38.5%), from €38,298 to €53,034
- Tax, wage and social debts +€1,528
up €1,528 (+1,116%), from €137 to €1,665
- Write-downs +€25,000
new in 2025: €25,000
- Gross operating margin -€7,165
down €7,165, from €3,243 to -€3,922
- Financial charges -€255
down €255 (-6.0%), from €4,270 to €4,015
- Other operating charges -€228
down €228 (-65.5%), from €348 to €120
- Financial income -€204
down €204 (-99.6%), from €205 to €1
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.
Derived cash bridge
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 | €110,012 | €56,715 | -€53,296 | -48.4% |
| Fixed assets | 21/28 | €189 | €0 | -€189 | -100% |
| Tangible fixed assets | 22/27 | €189 | €0 | -€189 | -100% |
| Plant, machinery and equipment | 23 | €189 | €0 | -€189 | -100% |
| Current assets | 29/58 | €109,822 | €56,715 | -€53,107 | -48.4% |
| Stocks and contracts in progress | 3 | €77,472 | €40,000 | -€37,472 | -48.4% |
| Stocks | 30/36 | - | €40,000 | +€40,000 | |
| Contracts in progress | 37 | €77,472 | - | -€77,472 | |
| Amounts receivable within one year | 40/41 | €31,695 | €16,074 | -€15,622 | -49.3% |
| Trade receivables | 40 | €28,795 | €13,174 | -€15,622 | -54.3% |
| Other amounts receivable | 41 | €2,900 | €2,900 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €655 | €642 | -€13 | -2.0% |
| Total equity and liabilities | 10/49 | €110,012 | €56,715 | -€53,296 | -48.4% |
| Equity | 10/15 | €12,031 | -€33,655 | -€45,687 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €1,859 | +€1,859 | |
| Reserves not available under the articles | 1311 | - | €1,859 | +€1,859 | |
| Distributable reserves | 133 | €1,859 | - | -€1,859 | |
| Profit (loss) carried forward | 14 | -€8,420 | -€54,107 | -€45,687 | -543% |
| Amounts payable | 17/49 | €97,981 | €90,371 | -€7,610 | -7.8% |
| Amounts payable within one year | 42/48 | €97,981 | €90,371 | -€7,610 | -7.8% |
| Financial debts | 43 | €27,427 | €27,639 | +€211 | +0.8% |
| Credit institutions | 430/8 | €27,427 | €27,639 | +€211 | +0.8% |
| Trade debts | 44 | €32,118 | €8,033 | -€24,084 | -75.0% |
| Suppliers | 440/4 | €32,118 | €8,033 | -€24,084 | -75.0% |
| Taxes, remuneration and social security | 45 | €137 | €1,665 | +€1,528 | +1,116% |
| Taxes | 450/3 | €137 | €1,665 | +€1,528 | +1,116% |
| Other amounts payable | 47/48 | €38,298 | €53,034 | +€14,736 | +38.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53 | €0 | -€53 | -100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €25,000 | +€25,000 | |
| Other operating charges | 640/8 | €348 | €120 | -€228 | -65.5% |
| Non-recurring operating charges | 66A | - | €12,631 | +€12,631 | |
| Gross operating margin | 9900 | €3,243 | -€3,922 | -€7,165 | |
| Operating profit (loss) | 9901 | €2,842 | -€41,672 | -€44,514 | |
| Financial income | 75/76B | €205 | €1 | -€204 | -99.6% |
| Recurring financial income | 75 | €205 | €1 | -€204 | -99.6% |
| Financial charges | 65/66B | €4,270 | €4,015 | -€255 | -6.0% |
| Recurring financial charges | 65 | €4,270 | €4,015 | -€255 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,223 | -€45,687 | -€44,464 | -3,637% |
| Income taxes | 67/77 | €0 | €0 | -€0 | -100% |
| Profit (loss) for the period | 9904 | -€1,223 | -€45,687 | -€44,463 | -3,635% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,223 | -€45,687 | -€44,463 | -3,635% |
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 22 October 2026 via checked.be.