PARETO: 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.
PARETO
Largest movements
- Cash +€68,341
up €68,341 (+1,707%), from €4,002 to €72,344
mainly Net result for the year (+€64,911) and Tax, wage and social debts (+€34,823)
- Receivables within one year +€37,831
up €37,831 (+69.9%), from €54,090 to €91,921
of which Other amounts receivable: +€48,014
- Deferred charges and accrued income -€15,184
no longer reported in 2025 (was €15,184)
- Tangible fixed assets -€7,864
down €7,864 (-1.6%), from €506,857 to €498,993
of which Land and buildings: -€26,127
- Reserves +€64,911
up €64,911 (+64.1%), from €101,197 to €166,108
- Tax, wage and social debts +€34,823
up €34,823 (+248%), from €14,026 to €48,850
of which Taxes: +€31,468
- Debts after one year -€22,220
down €22,220 (-5.8%), from €381,589 to €359,369
- Trade debts +€18,103
up €18,103 (+221%), from €8,199 to €26,302
- Short-term financial debts -€14,639
down €14,639 (-93.7%), from €15,621 to €982
- Gross operating margin +€114,902
up €114,902 (+120%), from €95,403 to €210,305
- Taxes +€30,929
up €30,929 (+890%), from €3,476 to €34,405
- Staff costs +€10,181
up €10,181 (+21.1%), from €48,220 to €58,401
- Financial charges +€3,695
up €3,695 (+21.8%), from €16,946 to €20,641
- Depreciation +€3,665
up €3,665 (+12.8%), from €28,667 to €32,332
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 | €583,007 | €664,891 | +€81,884 | +14.0% |
| Fixed assets | 21/28 | €509,731 | €500,626 | -€9,104 | -1.8% |
| Intangible fixed assets | 21 | €2,874 | €1,634 | -€1,240 | -43.1% |
| Tangible fixed assets | 22/27 | €506,857 | €498,993 | -€7,864 | -1.6% |
| Land and buildings | 22 | €500,478 | €474,351 | -€26,127 | -5.2% |
| Plant, machinery and equipment | 23 | - | €3,010 | +€3,010 | |
| Furniture and vehicles | 24 | €5,289 | €11,756 | +€6,468 | +122% |
| Other tangible fixed assets | 26 | €1,090 | €9,875 | +€8,785 | +806% |
| Current assets | 29/58 | €73,276 | €164,265 | +€90,989 | +124% |
| Amounts receivable within one year | 40/41 | €54,090 | €91,921 | +€37,831 | +69.9% |
| Trade receivables | 40 | €28,385 | €18,201 | -€10,183 | -35.9% |
| Other amounts receivable | 41 | €25,705 | €73,720 | +€48,014 | +187% |
| Cash at bank and in hand | 54/58 | €4,002 | €72,344 | +€68,341 | +1,707% |
| Deferred charges and accrued income | 490/1 | €15,184 | - | -€15,184 | |
| Total equity and liabilities | 10/49 | €583,007 | €664,891 | +€81,884 | +14.0% |
| Equity | 10/15 | €109,257 | €174,168 | +€64,911 | +59.4% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €101,197 | €166,108 | +€64,911 | +64.1% |
| Distributable reserves | 133 | €101,197 | €166,108 | +€64,911 | +64.1% |
| Amounts payable | 17/49 | €473,750 | €490,723 | +€16,973 | +3.6% |
| Amounts payable after more than one year | 17 | €381,589 | €359,369 | -€22,220 | -5.8% |
| Financial debts | 170/4 | €381,589 | €359,369 | -€22,220 | -5.8% |
| Amounts payable within one year | 42/48 | €92,161 | €131,355 | +€39,194 | +42.5% |
| Current portion of amounts payable after more than one year | 42 | €54,314 | €55,220 | +€906 | +1.7% |
| Financial debts | 43 | €15,621 | €982 | -€14,639 | -93.7% |
| Credit institutions | 430/8 | €15,621 | €982 | -€14,639 | -93.7% |
| Trade debts | 44 | €8,199 | €26,302 | +€18,103 | +221% |
| Suppliers | 440/4 | €8,199 | €26,302 | +€18,103 | +221% |
| Taxes, remuneration and social security | 45 | €14,026 | €48,850 | +€34,823 | +248% |
| Taxes | 450/3 | €5,347 | €36,815 | +€31,468 | +588% |
| Remuneration and social security | 454/9 | €8,679 | €12,035 | +€3,356 | +38.7% |
| Remuneration, social security and pensions | 62 | €48,220 | €58,401 | +€10,181 | +21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,667 | €32,332 | +€3,665 | +12.8% |
| Other operating charges | 640/8 | €3,108 | €2,335 | -€773 | -24.9% |
| Gross operating margin | 9900 | €95,403 | €210,305 | +€114,902 | +120% |
| Operating profit (loss) | 9901 | €15,408 | €117,237 | +€101,829 | +661% |
| Financial income | 75/76B | €1,965 | €2,720 | +€754 | +38.4% |
| Recurring financial income | 75 | €1,965 | €2,720 | +€754 | +38.4% |
| Financial charges | 65/66B | €16,946 | €20,641 | +€3,695 | +21.8% |
| Recurring financial charges | 65 | €16,946 | €20,641 | +€3,695 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | €427 | €99,315 | +€98,889 | +23,179% |
| Income taxes | 67/77 | €3,476 | €34,405 | +€30,929 | +890% |
| Profit (loss) for the period | 9904 | -€3,049 | €64,911 | +€67,960 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,049 | €64,911 | +€67,960 |
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 19 October 2026 via checked.be.