PALU PALU: 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.
PALU PALU
Largest movements
- Cash +€24,482
up €24,482 (+49.2%), from €49,741 to €74,224
mainly Other debts (+€30,317) and Stocks and contracts (+€17,498)
- Stocks and contracts -€17,498
down €17,498 (-11.2%), from €155,684 to €138,186
- Tangible fixed assets -€6,206
down €6,206 (-14.4%), from €43,235 to €37,028
of which Other tangible fixed assets: -€3,959
- Deferred charges and accrued income +€2,584
up €2,584 (+431%), from €600 to €3,184
- Other debts +€30,317
up €30,317 (+624%), from €4,856 to €35,173
- Debts after one year -€24,093
down €24,093 (-15.3%), from €157,009 to €132,915
- Reserves -€15,766
down €15,766 (-100.0%), from €15,766 to €0
- Trade debts +€15,226
up €15,226 (+112%), from €13,645 to €28,872
- Tax, wage and social debts -€5,244
down €5,244 (-24.8%), from €21,152 to €15,908
of which Taxes: -€5,244
- Write-downs -€8,189
down €8,189, from €6,421 to -€1,767
- Gross operating margin -€4,468
down €4,468 (-11.9%), from €37,683 to €33,215
- Financial charges -€1,896
down €1,896 (-21.9%), from €8,653 to €6,757
- Taxes +€1,754
up €1,754 (+49.4%), from €3,547 to €5,301
- Financial income +€740
up €740 (+44.1%), from €1,677 to €2,416
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 | €251,931 | €257,547 | +€5,616 | +2.2% |
| Formation expenses | 20 | €503 | €315 | -€187 | -37.3% |
| Fixed assets | 21/28 | €45,335 | €39,128 | -€6,206 | -13.7% |
| Tangible fixed assets | 22/27 | €43,235 | €37,028 | -€6,206 | -14.4% |
| Plant, machinery and equipment | 23 | €6,016 | €4,932 | -€1,085 | -18.0% |
| Furniture and vehicles | 24 | €5,878 | €4,716 | -€1,163 | -19.8% |
| Other tangible fixed assets | 26 | €31,340 | €27,381 | -€3,959 | -12.6% |
| Financial fixed assets | 28 | €2,100 | €2,100 | = | 0.0% |
| Current assets | 29/58 | €206,094 | €218,103 | +€12,009 | +5.8% |
| Stocks and contracts in progress | 3 | €155,684 | €138,186 | -€17,498 | -11.2% |
| Stocks | 30/36 | €155,684 | €138,186 | -€17,498 | -11.2% |
| Amounts receivable within one year | 40/41 | €69 | €2,510 | +€2,441 | +3,537% |
| Trade receivables | 40 | €46 | €525 | +€479 | +1,042% |
| Other amounts receivable | 41 | €23 | €1,985 | +€1,962 | +8,518% |
| Cash at bank and in hand | 54/58 | €49,741 | €74,224 | +€24,482 | +49.2% |
| Deferred charges and accrued income | 490/1 | €600 | €3,184 | +€2,584 | +431% |
| Total equity and liabilities | 10/49 | €251,931 | €257,547 | +€5,616 | +2.2% |
| Equity | 10/15 | €23,266 | €7,500 | -€15,766 | -67.8% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €15,766 | €0 | -€15,766 | -100.0% |
| Distributable reserves | 133 | €15,766 | €0 | -€15,766 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €228,665 | €250,047 | +€21,381 | +9.4% |
| Amounts payable after more than one year | 17 | €157,009 | €132,915 | -€24,093 | -15.3% |
| Financial debts | 170/4 | €157,009 | €132,915 | -€24,093 | -15.3% |
| Amounts payable within one year | 42/48 | €71,556 | €116,863 | +€45,307 | +63.3% |
| Current portion of amounts payable after more than one year | 42 | €11,033 | €11,355 | +€322 | +2.9% |
| Financial debts | 43 | €12,428 | €12,738 | +€311 | +2.5% |
| Other loans | 439 | €12,428 | €12,738 | +€311 | +2.5% |
| Trade debts | 44 | €13,645 | €28,872 | +€15,226 | +112% |
| Suppliers | 440/4 | €13,645 | €28,872 | +€15,226 | +112% |
| Advances received on contracts in progress | 46 | €8,442 | €12,817 | +€4,375 | +51.8% |
| Taxes, remuneration and social security | 45 | €21,152 | €15,908 | -€5,244 | -24.8% |
| Taxes | 450/3 | €21,152 | €15,908 | -€5,244 | -24.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €4,856 | €35,173 | +€30,317 | +624% |
| Accrued charges and deferred income | 492/3 | €101 | €268 | +€168 | +167% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,552 | €7,480 | -€72 | -0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,421 | -€1,767 | -€8,189 | |
| Other operating charges | 640/8 | €759 | €811 | +€52 | +6.8% |
| Gross operating margin | 9900 | €37,683 | €33,215 | -€4,468 | -11.9% |
| Operating profit (loss) | 9901 | €22,951 | €26,692 | +€3,741 | +16.3% |
| Financial income | 75/76B | €1,677 | €2,416 | +€740 | +44.1% |
| Recurring financial income | 75 | €1,677 | €2,416 | +€740 | +44.1% |
| Financial charges | 65/66B | €8,653 | €6,757 | -€1,896 | -21.9% |
| Recurring financial charges | 65 | €8,653 | €6,757 | -€1,896 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €15,975 | €22,351 | +€6,376 | +39.9% |
| Income taxes | 67/77 | €3,547 | €5,301 | +€1,754 | +49.4% |
| Profit (loss) for the period | 9904 | €12,428 | €17,050 | +€4,623 | +37.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,428 | €17,050 | +€4,623 | +37.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.