PALUCIA: 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.
PALUCIA
Largest movements
- Cash +€90,026
up €90,026 (+48.8%), from €184,442 to €274,467
mainly Depreciation (+€67,177) and Net result for the year (+€57,013)
- Tangible fixed assets -€62,844
down €62,844 (-5.9%), from €1.1m to €1.0m
of which Land and buildings: -€36,035
- Reserves +€57,013
up €57,013 (+3.2%), from €1.8m to €1.8m
of which Distributable reserves: +€62,828
- Tax, wage and social debts -€22,104
no longer reported in 2025 (was €22,104)
- Gross operating margin -€39,671
down €39,671 (-19.9%), from €199,225 to €159,553
- Taxes -€33,259
down €33,259 (-64.2%), from €51,838 to €18,579
- Financial charges -€16,309
down €16,309 (-77.1%), from €21,150 to €4,841
- Depreciation +€2,708
up €2,708 (+4.2%), from €64,469 to €67,177
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 | €1,886,370 | €1,912,702 | +€26,332 | +1.4% |
| Fixed assets | 21/28 | €1,073,218 | €1,010,374 | -€62,844 | -5.9% |
| Tangible fixed assets | 22/27 | €1,073,218 | €1,010,374 | -€62,844 | -5.9% |
| Land and buildings | 22 | €975,907 | €939,871 | -€36,035 | -3.7% |
| Furniture and vehicles | 24 | €97,311 | €70,503 | -€26,808 | -27.5% |
| Current assets | 29/58 | €813,152 | €902,328 | +€89,176 | +11.0% |
| Stocks and contracts in progress | 3 | €6,750 | €7,250 | +€500 | +7.4% |
| Stocks | 30/36 | €6,750 | €7,250 | +€500 | +7.4% |
| Amounts receivable within one year | 40/41 | €1,350 | - | -€1,350 | |
| Other amounts receivable | 41 | €1,350 | - | -€1,350 | |
| Current investments | 50/53 | €620,610 | €620,610 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €184,442 | €274,467 | +€90,026 | +48.8% |
| Total equity and liabilities | 10/49 | €1,886,370 | €1,912,702 | +€26,332 | +1.4% |
| Equity | 10/15 | €1,828,652 | €1,885,665 | +€57,013 | +3.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,767,152 | €1,824,165 | +€57,013 | +3.2% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €163,196 | €157,381 | -€5,815 | -3.6% |
| Distributable reserves | 133 | €1,597,806 | €1,660,634 | +€62,828 | +3.9% |
| Amounts payable | 17/49 | €57,718 | €27,036 | -€30,681 | -53.2% |
| Amounts payable within one year | 42/48 | €50,980 | €25,874 | -€25,107 | -49.2% |
| Trade debts | 44 | €27,146 | €18,741 | -€8,405 | -31.0% |
| Suppliers | 440/4 | €27,146 | €18,741 | -€8,405 | -31.0% |
| Taxes, remuneration and social security | 45 | €22,104 | - | -€22,104 | |
| Taxes | 450/3 | €22,104 | - | -€22,104 | |
| Other amounts payable | 47/48 | €1,730 | €7,132 | +€5,402 | +312% |
| Accrued charges and deferred income | 492/3 | €6,737 | €1,163 | -€5,575 | -82.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,469 | €67,177 | +€2,708 | +4.2% |
| Other operating charges | 640/8 | €11,997 | €11,943 | -€55 | -0.5% |
| Gross operating margin | 9900 | €199,225 | €159,553 | -€39,671 | -19.9% |
| Operating profit (loss) | 9901 | €122,759 | €80,434 | -€42,325 | -34.5% |
| Financial charges | 65/66B | €21,150 | €4,841 | -€16,309 | -77.1% |
| Recurring financial charges | 65 | €21,150 | €4,841 | -€16,309 | -77.1% |
| Profit (loss) for the period before taxes | 9903 | €101,609 | €75,593 | -€26,016 | -25.6% |
| Income taxes | 67/77 | €51,838 | €18,579 | -€33,259 | -64.2% |
| Profit (loss) for the period | 9904 | €49,771 | €57,013 | +€7,243 | +14.6% |
| Transfer from tax-exempt reserves | 789 | €5,815 | €5,815 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €55,585 | €62,828 | +€7,243 | +13.0% |
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 21 October 2026 via checked.be.