PALUA: 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.
PALUA
Largest movements
- Receivables within one year +€13,026
up €13,026 (+15.1%), from €86,078 to €99,104
of which Other amounts receivable: +€13,102
- Cash +€3,669
up €3,669 (+3.7%), from €99,554 to €103,223
mainly Tax, wage and social debts (+€36,157) and Net result for the year (+€5,323)
- Tangible fixed assets -€2,818
down €2,818 (-24.5%), from €11,497 to €8,679
of which Plant, machinery and equipment: -€2,618
- Tax, wage and social debts +€36,157
up €36,157 (+102.5%), from €35,264 to €71,421
of which Taxes: +€26,062
- Trade debts -€19,417
down €19,417 (-42.3%), from €45,954 to €26,537
- Debts after one year -€7,120
down €7,120 (-35.5%), from €20,033 to €12,913
- Profit (loss) carried forward +€5,323
up €5,323 (+9.7%), from -€54,633 to -€49,310
- Current portion of long-term debt -€2,653
down €2,653 (-27.1%), from €9,773 to €7,120
- Staff costs +€22,360
up €22,360 (+27.9%), from €80,281 to €102,641
- Gross operating margin +€16,706
up €16,706 (+15.2%), from €110,038 to €126,744
- Other operating charges +€2,974
up €2,974 (+79.7%), from €3,732 to €6,706
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 | €207,752 | €220,569 | +€12,817 | +6.2% |
| Fixed assets | 21/28 | €14,885 | €12,067 | -€2,818 | -18.9% |
| Tangible fixed assets | 22/27 | €11,497 | €8,679 | -€2,818 | -24.5% |
| Plant, machinery and equipment | 23 | €10,885 | €8,267 | -€2,618 | -24.1% |
| Furniture and vehicles | 24 | €612 | €412 | -€200 | -32.7% |
| Financial fixed assets | 28 | €3,388 | €3,388 | = | 0.0% |
| Current assets | 29/58 | €192,867 | €208,502 | +€15,635 | +8.1% |
| Stocks and contracts in progress | 3 | €6,842 | €6,175 | -€667 | -9.7% |
| Stocks | 30/36 | €6,842 | €6,175 | -€667 | -9.7% |
| Amounts receivable within one year | 40/41 | €86,078 | €99,104 | +€13,026 | +15.1% |
| Trade receivables | 40 | €16,942 | €16,866 | -€76 | -0.4% |
| Other amounts receivable | 41 | €69,136 | €82,238 | +€13,102 | +19.0% |
| Cash at bank and in hand | 54/58 | €99,554 | €103,223 | +€3,669 | +3.7% |
| Deferred charges and accrued income | 490/1 | €393 | - | -€393 | |
| Total equity and liabilities | 10/49 | €207,752 | €220,569 | +€12,817 | +6.2% |
| Equity | 10/15 | €90,410 | €95,733 | +€5,323 | +5.9% |
| Contributions | 10/11 | €145,043 | €145,043 | = | 0.0% |
| Capital | 10 | €145,043 | €145,043 | = | 0.0% |
| Issued capital | 100 | €145,043 | €145,043 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,633 | -€49,310 | +€5,323 | +9.7% |
| Amounts payable | 17/49 | €117,342 | €124,836 | +€7,494 | +6.4% |
| Amounts payable after more than one year | 17 | €20,033 | €12,913 | -€7,120 | -35.5% |
| Financial debts | 170/4 | €20,033 | €12,913 | -€7,120 | -35.5% |
| Amounts payable within one year | 42/48 | €93,241 | €107,313 | +€14,072 | +15.1% |
| Current portion of amounts payable after more than one year | 42 | €9,773 | €7,120 | -€2,653 | -27.1% |
| Financial debts | 43 | €2,250 | €2,235 | -€15 | -0.7% |
| Credit institutions | 430/8 | €2,250 | €2,235 | -€15 | -0.7% |
| Trade debts | 44 | €45,954 | €26,537 | -€19,417 | -42.3% |
| Suppliers | 440/4 | €45,954 | €26,537 | -€19,417 | -42.3% |
| Taxes, remuneration and social security | 45 | €35,264 | €71,421 | +€36,157 | +102.5% |
| Taxes | 450/3 | €16,811 | €42,873 | +€26,062 | +155.0% |
| Remuneration and social security | 454/9 | €18,453 | €28,548 | +€10,095 | +54.7% |
| Accrued charges and deferred income | 492/3 | €4,068 | €4,610 | +€542 | +13.3% |
| Remuneration, social security and pensions | 62 | €80,281 | €102,641 | +€22,360 | +27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,886 | €2,818 | -€68 | -2.4% |
| Other operating charges | 640/8 | €3,732 | €6,706 | +€2,974 | +79.7% |
| Gross operating margin | 9900 | €110,038 | €126,744 | +€16,706 | +15.2% |
| Operating profit (loss) | 9901 | €23,139 | €14,579 | -€8,560 | -37.0% |
| Financial income | 75/76B | €87 | €252 | +€165 | +189.7% |
| Recurring financial income | 75 | €87 | €252 | +€165 | +189.7% |
| Financial charges | 65/66B | €5,907 | €7,144 | +€1,237 | +20.9% |
| Recurring financial charges | 65 | €5,907 | €7,144 | +€1,237 | +20.9% |
| Profit (loss) for the period before taxes | 9903 | €17,319 | €7,687 | -€9,632 | -55.6% |
| Income taxes | 67/77 | €2,319 | €2,364 | +€45 | +1.9% |
| Profit (loss) for the period | 9904 | €15,000 | €5,323 | -€9,677 | -64.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,000 | €5,323 | -€9,677 | -64.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.