PALVIC: 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.
PALVIC
Largest movements
- Cash +€8,013
up €8,013 (+21.7%), from €37,000 to €45,013
mainly Net result for the year (+€20,049) and Other debts (+€4,510)
- Reserves +€7,900
up €7,900 (+32.3%), from €24,484 to €32,384
of which Distributable reserves: +€7,900
- Other debts +€4,510
up €4,510 (+18.8%), from €24,000 to €28,510
- Tax, wage and social debts -€3,863
no longer reported in 2025 (was €3,863)
- Gross operating margin -€2,343
down €2,343 (-6.3%), from €36,980 to €34,638
- Taxes -€462
down €462 (-13.2%), from €3,509 to €3,046
- Financial charges +€389
up €389 (+145%), from €269 to €657
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 | €115,704 | €124,501 | +€8,797 | +7.6% |
| Fixed assets | 21/28 | €76,314 | €76,057 | -€257 | -0.3% |
| Tangible fixed assets | 22/27 | €76,314 | €76,057 | -€257 | -0.3% |
| Land and buildings | 22 | €75,672 | €75,672 | = | 0.0% |
| Plant, machinery and equipment | 23 | €642 | €385 | -€257 | -40.0% |
| Current assets | 29/58 | €39,390 | €48,444 | +€9,055 | +23.0% |
| Amounts receivable within one year | 40/41 | - | €954 | +€954 | |
| Other amounts receivable | 41 | - | €954 | +€954 | |
| Cash at bank and in hand | 54/58 | €37,000 | €45,013 | +€8,013 | +21.7% |
| Deferred charges and accrued income | 490/1 | €2,390 | €2,478 | +€88 | +3.7% |
| Total equity and liabilities | 10/49 | €115,704 | €124,501 | +€8,797 | +7.6% |
| Equity | 10/15 | €87,768 | €95,817 | +€8,049 | +9.2% |
| Contributions | 10/11 | €63,239 | €63,239 | = | 0.0% |
| Capital | 10 | €63,239 | €63,239 | = | 0.0% |
| Issued capital | 100 | €63,239 | €63,239 | = | 0.0% |
| Reserves | 13 | €24,484 | €32,384 | +€7,900 | +32.3% |
| Non-distributable reserves | 130/1 | €6,324 | €6,324 | = | 0.0% |
| Legal reserve | 130 | €6,324 | €6,324 | = | 0.0% |
| Distributable reserves | 133 | €18,160 | €26,060 | +€7,900 | +43.5% |
| Profit (loss) carried forward | 14 | €45 | €193 | +€149 | +333% |
| Amounts payable | 17/49 | €27,936 | €28,684 | +€749 | +2.7% |
| Amounts payable within one year | 42/48 | €27,936 | €28,684 | +€749 | +2.7% |
| Trade debts | 44 | €73 | €174 | +€102 | +140% |
| Suppliers | 440/4 | €73 | €174 | +€102 | +140% |
| Taxes, remuneration and social security | 45 | €3,863 | - | -€3,863 | |
| Taxes | 450/3 | €3,863 | - | -€3,863 | |
| Other amounts payable | 47/48 | €24,000 | €28,510 | +€4,510 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €257 | €257 | = | 0.0% |
| Other operating charges | 640/8 | €10,304 | €10,628 | +€324 | +3.1% |
| Gross operating margin | 9900 | €36,980 | €34,638 | -€2,343 | -6.3% |
| Operating profit (loss) | 9901 | €26,419 | €23,752 | -€2,666 | -10.1% |
| Financial charges | 65/66B | €269 | €657 | +€389 | +145% |
| Recurring financial charges | 65 | €269 | €657 | +€389 | +145% |
| Profit (loss) for the period before taxes | 9903 | €26,150 | €23,095 | -€3,055 | -11.7% |
| Income taxes | 67/77 | €3,509 | €3,046 | -€462 | -13.2% |
| Profit (loss) for the period | 9904 | €22,642 | €20,049 | -€2,593 | -11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,642 | €20,049 | -€2,593 | -11.5% |
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 20 October 2026 via checked.be.