PALUCO: 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.
PALUCO
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€22,939
down €22,939 (-136.1%), from -€16,859 to -€39,798
- Financial income +€8,373
up €8,373 (+19.5%), from €42,980 to €51,352
of which Financial income: +€8,371
- Depreciation -€7,264
no longer reported in 2025 (was €7,264)
- Financial charges +€1,296
up €1,296 (+551.8%), from €235 to €1,531
of which Non-recurring financial charges: +€1,359
- Taxes -€967
down €967 (-30.6%), from €3,163 to €2,196
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 | €2,515,283 | €2,517,507 | +€2,224 | +0.1% |
| Current assets | 29/58 | €2,515,283 | €2,517,507 | +€2,224 | +0.1% |
| Amounts receivable after more than one year | 29 | €1,728,324 | €1,728,324 | = | 0.0% |
| Other amounts receivable | 291 | €1,728,324 | €1,728,324 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,063 | €7,434 | -€2,630 | -26.1% |
| Trade receivables | 40 | €254 | - | -€254 | |
| Other amounts receivable | 41 | €9,809 | €7,434 | -€2,376 | -24.2% |
| Current investments | 50/53 | €671,348 | €678,365 | +€7,017 | +1.0% |
| Cash at bank and in hand | 54/58 | €104,505 | €102,286 | -€2,219 | -2.1% |
| Deferred charges and accrued income | 490/1 | €1,044 | €1,098 | +€55 | +5.3% |
| Total equity and liabilities | 10/49 | €2,515,283 | €2,517,507 | +€2,224 | +0.1% |
| Equity | 10/15 | €2,506,706 | €2,512,640 | +€5,934 | +0.2% |
| Contributions | 10/11 | €1,595,000 | €1,595,000 | = | 0.0% |
| Reserves | 13 | €921,434 | €927,368 | +€5,934 | +0.6% |
| Distributable reserves | 133 | €921,434 | €927,368 | +€5,934 | +0.6% |
| Profit (loss) carried forward | 14 | -€9,728 | -€9,728 | = | 0.0% |
| Amounts payable | 17/49 | €8,577 | €4,867 | -€3,711 | -43.3% |
| Amounts payable within one year | 42/48 | €5,490 | €3,444 | -€2,046 | -37.3% |
| Financial debts | 43 | €1,604 | - | -€1,604 | |
| Credit institutions | 430/8 | €1,604 | - | -€1,604 | |
| Trade debts | 44 | €1,169 | €386 | -€783 | -67.0% |
| Suppliers | 440/4 | €1,169 | €386 | -€783 | -67.0% |
| Taxes, remuneration and social security | 45 | €1,163 | - | -€1,163 | |
| Taxes | 450/3 | €1,163 | - | -€1,163 | |
| Other amounts payable | 47/48 | €1,554 | €3,057 | +€1,503 | +96.7% |
| Accrued charges and deferred income | 492/3 | €3,088 | €1,423 | -€1,665 | -53.9% |
| Non-recurring operating income | 76A | - | €2 | +€2 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,264 | - | -€7,264 | |
| Other operating charges | 640/8 | €2,375 | €1,892 | -€482 | -20.3% |
| Gross operating margin | 9900 | -€16,859 | -€39,798 | -€22,939 | -136.1% |
| Operating profit (loss) | 9901 | -€26,498 | -€41,690 | -€15,192 | -57.3% |
| Financial income | 75/76B | €42,980 | €51,352 | +€8,373 | +19.5% |
| Recurring financial income | 75 | €42,980 | €51,351 | +€8,371 | +19.5% |
| Non-recurring financial income | 76B | - | €1 | +€1 | |
| Financial charges | 65/66B | €235 | €1,531 | +€1,296 | +551.8% |
| Recurring financial charges | 65 | €235 | €172 | -€63 | -26.7% |
| Non-recurring financial charges | 66B | - | €1,359 | +€1,359 | |
| Profit (loss) for the period before taxes | 9903 | €16,247 | €8,131 | -€8,116 | -50.0% |
| Income taxes | 67/77 | €3,163 | €2,196 | -€967 | -30.6% |
| Profit (loss) for the period | 9904 | €13,084 | €5,934 | -€7,149 | -54.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,084 | €5,934 | -€7,149 | -54.6% |
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 5 October 2026 via checked.be.