PAO DANCE: 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.
PAO DANCE
Largest movements
- Cash +€48,506
up €48,506 (+174%), from €27,946 to €76,451
mainly Net result for the year (+€57,531) and Other debts (+€36,233)
- Receivables within one year +€34,707
up €34,707 (+320%), from €10,844 to €45,551
of which Trade receivables: +€26,538
- Tangible fixed assets +€3,223
up €3,223 (+26.4%), from €12,188 to €15,411
of which Other tangible fixed assets: +€2,318
- Current investments +€1,799
up €1,799 (+613%), from €293 to €2,092
- Other debts +€36,233
up €36,233 (+824%), from €4,396 to €40,629
- Advances received +€33,595
new in 2025: €33,595
- Reserves +€12,531
up €12,531 (+40.0%), from €31,306 to €43,837
- Accrued charges and deferred income +€8,100
new in 2025: €8,100
- Trade debts -€5,491
down €5,491 (-70.8%), from €7,751 to €2,261
- Gross operating margin +€41,611
up €41,611 (+98.5%), from €42,255 to €83,866
- Taxes +€10,660
up €10,660 (+105%), from €10,116 to €20,776
- Depreciation -€1,828
down €1,828 (-33.8%), from €5,404 to €3,576
- Other operating charges -€1,292
down €1,292 (-45.4%), from €2,843 to €1,551
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 | €54,869 | €143,017 | +€88,148 | +161% |
| Fixed assets | 21/28 | €14,888 | €18,111 | +€3,223 | +21.6% |
| Tangible fixed assets | 22/27 | €12,188 | €15,411 | +€3,223 | +26.4% |
| Plant, machinery and equipment | 23 | €1,748 | €2,652 | +€904 | +51.7% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €10,440 | €12,758 | +€2,318 | +22.2% |
| Financial fixed assets | 28 | €2,700 | €2,700 | = | 0.0% |
| Current assets | 29/58 | €39,981 | €124,906 | +€84,925 | +212% |
| Amounts receivable within one year | 40/41 | €10,844 | €45,551 | +€34,707 | +320% |
| Trade receivables | 40 | €5,933 | €32,471 | +€26,538 | +447% |
| Other amounts receivable | 41 | €4,911 | €13,081 | +€8,169 | +166% |
| Current investments | 50/53 | €293 | €2,092 | +€1,799 | +613% |
| Cash at bank and in hand | 54/58 | €27,946 | €76,451 | +€48,506 | +174% |
| Deferred charges and accrued income | 490/1 | €898 | €812 | -€86 | -9.6% |
| Total equity and liabilities | 10/49 | €54,869 | €143,017 | +€88,148 | +161% |
| Equity | 10/15 | €37,506 | €50,037 | +€12,531 | +33.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €31,306 | €43,837 | +€12,531 | +40.0% |
| Distributable reserves | 133 | €31,306 | €43,837 | +€12,531 | +40.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €17,363 | €92,980 | +€75,617 | +436% |
| Amounts payable within one year | 42/48 | €17,363 | €84,880 | +€67,517 | +389% |
| Financial debts | 43 | - | €21 | +€21 | |
| Credit institutions | 430/8 | - | €21 | +€21 | |
| Trade debts | 44 | €7,751 | €2,261 | -€5,491 | -70.8% |
| Suppliers | 440/4 | €7,751 | €2,261 | -€5,491 | -70.8% |
| Advances received on contracts in progress | 46 | - | €33,595 | +€33,595 | |
| Taxes, remuneration and social security | 45 | €5,216 | €8,374 | +€3,158 | +60.6% |
| Taxes | 450/3 | €5,216 | €8,374 | +€3,158 | +60.6% |
| Other amounts payable | 47/48 | €4,396 | €40,629 | +€36,233 | +824% |
| Accrued charges and deferred income | 492/3 | - | €8,100 | +€8,100 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,404 | €3,576 | -€1,828 | -33.8% |
| Other operating charges | 640/8 | €2,843 | €1,551 | -€1,292 | -45.4% |
| Gross operating margin | 9900 | €42,255 | €83,866 | +€41,611 | +98.5% |
| Operating profit (loss) | 9901 | €34,008 | €78,740 | +€44,731 | +132% |
| Financial income | 75/76B | €61 | €59 | -€2 | -3.2% |
| Recurring financial income | 75 | €61 | €59 | -€2 | -3.2% |
| Financial charges | 65/66B | €359 | €492 | +€133 | +37.0% |
| Recurring financial charges | 65 | €359 | €492 | +€133 | +37.0% |
| Profit (loss) for the period before taxes | 9903 | €33,710 | €78,307 | +€44,596 | +132% |
| Income taxes | 67/77 | €10,116 | €20,776 | +€10,660 | +105% |
| Profit (loss) for the period | 9904 | €23,595 | €57,531 | +€33,936 | +144% |
| Profit (loss) for the period to be appropriated | 9905 | €23,595 | €57,531 | +€33,936 | +144% |
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 23 October 2026 via checked.be.