PALOS: 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.
PALOS
Largest movements
- Receivables within one year +€24,857
up €24,857 (+147.7%), from €16,835 to €41,692
of which Other amounts receivable: +€32,897
- Cash -€19,284
down €19,284 (-36.8%), from €52,419 to €33,135
mainly Receivables within one year (-€24,857) and Investment in fixed assets (net) (-€11,223)
- Tangible fixed assets +€8,481
up €8,481 (+239.1%), from €3,547 to €12,028
of which Furniture and vehicles: +€8,720
- Profit (loss) carried forward +€11,069
up €11,069 (+34.4%), from €32,155 to €43,225
- Tax, wage and social debts +€7,798
up €7,798 (+82.0%), from €9,506 to €17,305
of which Remuneration and social security: +€11,094
- Trade debts -€4,775
down €4,775 (-22.3%), from €21,409 to €16,634
- Staff costs +€20,050
up €20,050 (+370.5%), from €5,411 to €25,461
- Taxes -€4,829
down €4,829 (-58.6%), from €8,243 to €3,413
- Other operating charges +€2,590
up €2,590 (+283.3%), from €914 to €3,504
- Depreciation +€2,416
up €2,416 (+739.0%), from €327 to €2,743
- Gross operating margin -€1,028
down €1,028 (-2.1%), from €49,588 to €48,560
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 | €73,070 | €87,163 | +€14,092 | +19.3% |
| Fixed assets | 21/28 | €3,547 | €12,028 | +€8,481 | +239.1% |
| Tangible fixed assets | 22/27 | €3,547 | €12,028 | +€8,481 | +239.1% |
| Furniture and vehicles | 24 | €1,363 | €10,083 | +€8,720 | +639.7% |
| Other tangible fixed assets | 26 | €2,184 | €1,945 | -€239 | -11.0% |
| Current assets | 29/58 | €69,523 | €75,135 | +€5,612 | +8.1% |
| Amounts receivable within one year | 40/41 | €16,835 | €41,692 | +€24,857 | +147.7% |
| Trade receivables | 40 | €8,043 | €3 | -€8,040 | -100.0% |
| Other amounts receivable | 41 | €8,792 | €41,689 | +€32,897 | +374.2% |
| Cash at bank and in hand | 54/58 | €52,419 | €33,135 | -€19,284 | -36.8% |
| Deferred charges and accrued income | 490/1 | €270 | €308 | +€38 | +14.2% |
| Total equity and liabilities | 10/49 | €73,070 | €87,163 | +€14,092 | +19.3% |
| Equity | 10/15 | €42,155 | €53,225 | +€11,069 | +26.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,155 | €43,225 | +€11,069 | +34.4% |
| Amounts payable | 17/49 | €30,915 | €33,938 | +€3,023 | +9.8% |
| Amounts payable within one year | 42/48 | €30,915 | €33,938 | +€3,023 | +9.8% |
| Trade debts | 44 | €21,409 | €16,634 | -€4,775 | -22.3% |
| Suppliers | 440/4 | €21,409 | €16,634 | -€4,775 | -22.3% |
| Taxes, remuneration and social security | 45 | €9,506 | €17,305 | +€7,798 | +82.0% |
| Taxes | 450/3 | €8,746 | €5,450 | -€3,296 | -37.7% |
| Remuneration and social security | 454/9 | €761 | €11,855 | +€11,094 | +1458.3% |
| Remuneration, social security and pensions | 62 | €5,411 | €25,461 | +€20,050 | +370.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €327 | €2,743 | +€2,416 | +739.0% |
| Other operating charges | 640/8 | €914 | €3,504 | +€2,590 | +283.3% |
| Gross operating margin | 9900 | €49,588 | €48,560 | -€1,028 | -2.1% |
| Operating profit (loss) | 9901 | €42,936 | €16,853 | -€26,083 | -60.7% |
| Financial income | 75/76B | €0 | €16 | +€16 | +162400.0% |
| Recurring financial income | 75 | €0 | €16 | +€16 | +162400.0% |
| Financial charges | 65/66B | €2,538 | €2,386 | -€152 | -6.0% |
| Recurring financial charges | 65 | €2,538 | €2,386 | -€152 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €40,398 | €14,483 | -€25,915 | -64.1% |
| Income taxes | 67/77 | €8,243 | €3,413 | -€4,829 | -58.6% |
| Profit (loss) for the period | 9904 | €32,155 | €11,069 | -€21,086 | -65.6% |
| Profit (loss) for the period to be appropriated | 9905 | €32,155 | €11,069 | -€21,086 | -65.6% |
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.