PALTHEA: what changed
Two fiscal 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.
PALTHEA
Largest movements
- Tangible fixed assets +€30,680
new in 2025: €30,680
- Cash -€5,019
down €5,019 (-17.8%), from €28,250 to €23,232
mainly Investment in fixed assets (net) (-€33,135) and Other debts (-€5,704)
- Receivables within one year +€2,272
up €2,272 (+12.6%), from €17,967 to €20,239
of which Other amounts receivable: +€2,124
- Debts after one year +€19,338
new in 2025: €19,338
- Current portion of long-term debt +€11,062
new in 2025: €11,062
- Profit (loss) carried forward +€5,852
up €5,852 (+28.5%), from €20,510 to €26,361
- Other debts -€5,704
down €5,704 (-77.8%), from €7,331 to €1,626
- Tax, wage and social debts -€2,247
down €2,247 (-60.6%), from €3,710 to €1,463
- Gross operating margin -€14,219
down €14,219 (-36.1%), from €39,433 to €25,215
- Other operating charges -€6,377
down €6,377 (-30.6%), from €20,855 to €14,478
- Depreciation +€2,320
new in 2025: €2,320
- Taxes -€2,247
down €2,247 (-60.6%), from €3,710 to €1,463
- Financial charges +€712
up €712 (+182.6%), from €390 to €1,102
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 | €46,218 | €74,555 | +€28,338 | +61.3% |
| Fixed assets | 21/28 | - | €30,815 | +€30,815 | |
| Tangible fixed assets | 22/27 | - | €30,680 | +€30,680 | |
| Furniture and vehicles | 24 | - | €30,680 | +€30,680 | |
| Financial fixed assets | 28 | - | €135 | +€135 | |
| Current assets | 29/58 | €46,218 | €43,741 | -€2,477 | -5.4% |
| Amounts receivable within one year | 40/41 | €17,967 | €20,239 | +€2,272 | +12.6% |
| Trade receivables | 40 | €14,662 | €14,810 | +€147 | +1.0% |
| Other amounts receivable | 41 | €3,305 | €5,429 | +€2,124 | +64.3% |
| Cash at bank and in hand | 54/58 | €28,250 | €23,232 | -€5,019 | -17.8% |
| Deferred charges and accrued income | 490/1 | - | €270 | +€270 | |
| Total equity and liabilities | 10/49 | €46,218 | €74,555 | +€28,338 | +61.3% |
| Equity | 10/15 | €30,510 | €36,361 | +€5,852 | +19.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,510 | €26,361 | +€5,852 | +28.5% |
| Amounts payable | 17/49 | €15,708 | €38,194 | +€22,486 | +143.2% |
| Amounts payable after more than one year | 17 | - | €19,338 | +€19,338 | |
| Financial debts | 170/4 | - | €19,338 | +€19,338 | |
| Amounts payable within one year | 42/48 | €15,708 | €18,856 | +€3,148 | +20.0% |
| Current portion of amounts payable after more than one year | 42 | - | €11,062 | +€11,062 | |
| Trade debts | 44 | €4,667 | €4,705 | +€38 | +0.8% |
| Suppliers | 440/4 | €4,667 | €4,705 | +€38 | +0.8% |
| Taxes, remuneration and social security | 45 | €3,710 | €1,463 | -€2,247 | -60.6% |
| Taxes | 450/3 | €3,710 | €1,463 | -€2,247 | -60.6% |
| Other amounts payable | 47/48 | €7,331 | €1,626 | -€5,704 | -77.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,320 | +€2,320 | |
| Other operating charges | 640/8 | €20,855 | €14,478 | -€6,377 | -30.6% |
| Gross operating margin | 9900 | €39,433 | €25,215 | -€14,219 | -36.1% |
| Operating profit (loss) | 9901 | €18,578 | €8,416 | -€10,162 | -54.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €390 | €1,102 | +€712 | +182.6% |
| Recurring financial charges | 65 | €390 | €1,102 | +€712 | +182.6% |
| Profit (loss) for the period before taxes | 9903 | €18,188 | €7,314 | -€10,874 | -59.8% |
| Income taxes | 67/77 | €3,710 | €1,463 | -€2,247 | -60.6% |
| Profit (loss) for the period | 9904 | €14,479 | €5,852 | -€8,627 | -59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,479 | €5,852 | -€8,627 | -59.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.