PALSKATS: 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.
PALSKATS
Largest movements
- Financial fixed assets +€1.2m
up €1.2m (+575.1%), from €200,315 to €1.4m
- Current investments +€170,000
new in 2025: €170,000
- Cash -€105,276
down €105,276 (-21.5%), from €489,549 to €384,273
mainly Investment in fixed assets (net) (-€1.2m) and Current investments (-€170,000)
- Reserves +€1.0m
up €1.0m (+172.7%), from €607,249 to €1.7m
- Trade debts +€157,004
up €157,004 (+2550.8%), from €6,155 to €163,159
- Tax, wage and social debts +€108,899
up €108,899 (+238.7%), from €45,631 to €154,530
of which Taxes: +€108,887
- Other debts -€101,825
down €101,825 (-98.8%), from €103,023 to €1,197
- Financial income +€799,132
up €799,132 (+257.5%), from €310,345 to €1.1m
- Taxes +€87,768
up €87,768 (+245.3%), from €35,786 to €123,555
- Gross operating margin +€9,295
up €9,295 (+11.6%), from €80,192 to €89,487
- Depreciation -€1,185
down €1,185 (-4.5%), from €26,261 to €25,076
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 | €780,658 | €1,994,221 | +€1.2m | +155.5% |
| Fixed assets | 21/28 | €268,444 | €1,418,172 | +€1.1m | +428.3% |
| Tangible fixed assets | 22/27 | €68,130 | €65,863 | -€2,266 | -3.3% |
| Plant, machinery and equipment | 23 | €14,990 | €9,993 | -€4,997 | -33.3% |
| Furniture and vehicles | 24 | €30,522 | €15,639 | -€14,883 | -48.8% |
| Other tangible fixed assets | 26 | €22,618 | €40,231 | +€17,613 | +77.9% |
| Financial fixed assets | 28 | €200,315 | €1,352,309 | +€1.2m | +575.1% |
| Current assets | 29/58 | €512,214 | €576,049 | +€63,836 | +12.5% |
| Amounts receivable within one year | 40/41 | €15,367 | €15,367 | = | 0.0% |
| Trade receivables | 40 | €15,367 | €15,367 | = | 0.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | - | €170,000 | +€170,000 | |
| Cash at bank and in hand | 54/58 | €489,549 | €384,273 | -€105,276 | -21.5% |
| Deferred charges and accrued income | 490/1 | €7,298 | €6,409 | -€888 | -12.2% |
| Total equity and liabilities | 10/49 | €780,658 | €1,994,221 | +€1.2m | +155.5% |
| Equity | 10/15 | €625,849 | €1,674,559 | +€1.0m | +167.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €607,249 | €1,655,959 | +€1.0m | +172.7% |
| Distributable reserves | 133 | €607,249 | €1,655,959 | +€1.0m | +172.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €154,809 | €319,662 | +€164,853 | +106.5% |
| Amounts payable within one year | 42/48 | €154,809 | €319,662 | +€164,853 | +106.5% |
| Financial debts | 43 | - | €775 | +€775 | |
| Credit institutions | 430/8 | - | €775 | +€775 | |
| Trade debts | 44 | €6,155 | €163,159 | +€157,004 | +2550.8% |
| Suppliers | 440/4 | €6,155 | €163,159 | +€157,004 | +2550.8% |
| Taxes, remuneration and social security | 45 | €45,631 | €154,530 | +€108,899 | +238.7% |
| Taxes | 450/3 | €42,931 | €151,818 | +€108,887 | +253.6% |
| Remuneration and social security | 454/9 | €2,700 | €2,712 | +€12 | +0.5% |
| Other amounts payable | 47/48 | €103,023 | €1,197 | -€101,825 | -98.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,261 | €25,076 | -€1,185 | -4.5% |
| Other operating charges | 640/8 | €1,193 | €1,064 | -€129 | -10.8% |
| Gross operating margin | 9900 | €80,192 | €89,487 | +€9,295 | +11.6% |
| Operating profit (loss) | 9901 | €52,738 | €63,348 | +€10,609 | +20.1% |
| Financial income | 75/76B | €310,345 | €1,109,477 | +€799,132 | +257.5% |
| Recurring financial income | 75 | €310,345 | €1,109,477 | +€799,132 | +257.5% |
| Financial charges | 65/66B | €123 | €559 | +€436 | +354.0% |
| Recurring financial charges | 65 | €123 | €559 | +€436 | +354.0% |
| Profit (loss) for the period before taxes | 9903 | €362,960 | €1,172,265 | +€809,305 | +223.0% |
| Income taxes | 67/77 | €35,786 | €123,555 | +€87,768 | +245.3% |
| Profit (loss) for the period | 9904 | €327,173 | €1,048,710 | +€721,537 | +220.5% |
| Profit (loss) for the period to be appropriated | 9905 | €327,173 | €1,048,710 | +€721,537 | +220.5% |
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.