PALTO: 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.
PALTO
Largest movements
- Tangible fixed assets -€49,849
down €49,849 (-8.6%), from €581,834 to €531,985
of which Land and buildings: -€44,928
- Receivables within one year +€35,266
up €35,266 (+97.4%), from €36,214 to €71,481
of which Trade receivables: +€34,809
- Debts after one year -€30,110
down €30,110 (-6.3%), from €481,533 to €451,422
- Advances received +€16,332
new in 2025: €16,332
- Reserves +€10,051
up €10,051 (+21.6%), from €46,519 to €56,570
- Gross operating margin +€29,407
up €29,407 (+41.8%), from €70,326 to €99,732
- Depreciation +€17,906
up €17,906 (+53.4%), from €33,559 to €51,464
- Staff costs +€15,335
new in 2025: €15,335
- Write-downs -€9,107
no longer reported in 2025 (was €9,107)
- Financial charges +€3,184
up €3,184 (+31.1%), from €10,232 to €13,417
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 | €700,272 | €688,208 | -€12,064 | -1.7% |
| Fixed assets | 21/28 | €585,474 | €534,010 | -€51,464 | -8.8% |
| Intangible fixed assets | 21 | €3,640 | €2,024 | -€1,615 | -44.4% |
| Tangible fixed assets | 22/27 | €581,834 | €531,985 | -€49,849 | -8.6% |
| Land and buildings | 22 | €570,362 | €525,434 | -€44,928 | -7.9% |
| Plant, machinery and equipment | 23 | €11,472 | €6,551 | -€4,921 | -42.9% |
| Current assets | 29/58 | €114,798 | €154,198 | +€39,400 | +34.3% |
| Stocks and contracts in progress | 3 | €63,195 | €66,074 | +€2,879 | +4.6% |
| Stocks | 30/36 | €53,900 | €62,909 | +€9,009 | +16.7% |
| Contracts in progress | 37 | €9,295 | €3,166 | -€6,130 | -65.9% |
| Amounts receivable within one year | 40/41 | €36,214 | €71,481 | +€35,266 | +97.4% |
| Trade receivables | 40 | €31,502 | €66,311 | +€34,809 | +110% |
| Other amounts receivable | 41 | €4,712 | €5,170 | +€457 | +9.7% |
| Cash at bank and in hand | 54/58 | €15,388 | €16,643 | +€1,255 | +8.2% |
| Total equity and liabilities | 10/49 | €700,272 | €688,208 | -€12,064 | -1.7% |
| Equity | 10/15 | €61,519 | €71,570 | +€10,051 | +16.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €46,519 | €56,570 | +€10,051 | +21.6% |
| Distributable reserves | 133 | €46,519 | €56,570 | +€10,051 | +21.6% |
| Amounts payable | 17/49 | €638,753 | €616,638 | -€22,115 | -3.5% |
| Amounts payable after more than one year | 17 | €481,533 | €451,422 | -€30,110 | -6.3% |
| Financial debts | 170/4 | €481,533 | €451,422 | -€30,110 | -6.3% |
| Amounts payable within one year | 42/48 | €153,740 | €165,215 | +€11,475 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €31,962 | €30,110 | -€1,852 | -5.8% |
| Trade debts | 44 | €25,138 | €20,115 | -€5,022 | -20.0% |
| Suppliers | 440/4 | €25,138 | €20,115 | -€5,022 | -20.0% |
| Advances received on contracts in progress | 46 | - | €16,332 | +€16,332 | |
| Taxes, remuneration and social security | 45 | €1,682 | €8,276 | +€6,594 | +392% |
| Taxes | 450/3 | €1,682 | €6,668 | +€4,986 | +296% |
| Remuneration and social security | 454/9 | - | €1,609 | +€1,609 | |
| Other amounts payable | 47/48 | €94,958 | €90,382 | -€4,576 | -4.8% |
| Accrued charges and deferred income | 492/3 | €3,481 | - | -€3,481 | |
| Remuneration, social security and pensions | 62 | - | €15,335 | +€15,335 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,559 | €51,464 | +€17,906 | +53.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,107 | - | -€9,107 | |
| Other operating charges | 640/8 | €3,620 | €5,025 | +€1,405 | +38.8% |
| Non-recurring operating charges | 66A | - | €1,736 | +€1,736 | |
| Gross operating margin | 9900 | €70,326 | €99,732 | +€29,407 | +41.8% |
| Operating profit (loss) | 9901 | €24,039 | €26,172 | +€2,132 | +8.9% |
| Financial income | 75/76B | €63 | €310 | +€247 | +395% |
| Recurring financial income | 75 | €63 | €310 | +€247 | +395% |
| Financial charges | 65/66B | €10,232 | €13,417 | +€3,184 | +31.1% |
| Recurring financial charges | 65 | €10,232 | €13,417 | +€3,184 | +31.1% |
| Profit (loss) for the period before taxes | 9903 | €13,870 | €13,065 | -€804 | -5.8% |
| Income taxes | 67/77 | €3,087 | €3,014 | -€73 | -2.4% |
| Profit (loss) for the period | 9904 | €10,783 | €10,051 | -€731 | -6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,783 | €10,051 | -€731 | -6.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.