PARO 2: 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.
PARO 2
Largest movements
- Cash +€196,894
up €196,894 (+24.5%), from €803,529 to €1.0m
mainly Net result for the year (+€487,157) and Depreciation (+€67,292)
- Reserves +€387,157
up €387,157 (+22.7%), from €1.7m to €2.1m
- Other debts -€113,604
down €113,604 (-54.5%), from €208,561 to €94,957
- Short-term financial debts -€36,431
down €36,431 (-100%), from €36,431 to €0
- Tax, wage and social debts -€35,040
down €35,040 (-43.5%), from €80,539 to €45,498
of which Taxes: -€40,908
- Gross operating margin +€127,926
up €127,926 (+17.6%), from €726,859 to €854,785
- Taxes +€31,123
up €31,123 (+15.8%), from €196,889 to €228,012
- Financial charges +€22,513
up €22,513 (+654%), from €3,445 to €25,958
- Depreciation +€19,733
up €19,733 (+41.5%), from €47,559 to €67,292
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 | €2,111,173 | €2,301,880 | +€190,707 | +9.0% |
| Fixed assets | 21/28 | €621,764 | €611,974 | -€9,790 | -1.6% |
| Tangible fixed assets | 22/27 | €621,764 | €611,974 | -€9,790 | -1.6% |
| Land and buildings | 22 | €407,306 | €423,086 | +€15,780 | +3.9% |
| Plant, machinery and equipment | 23 | €116,434 | €105,947 | -€10,486 | -9.0% |
| Furniture and vehicles | 24 | €98,024 | €82,941 | -€15,084 | -15.4% |
| Current assets | 29/58 | €1,489,409 | €1,689,906 | +€200,497 | +13.5% |
| Amounts receivable within one year | 40/41 | - | €1,145 | +€1,145 | |
| Trade receivables | 40 | - | €1,145 | +€1,145 | |
| Current investments | 50/53 | €673,280 | €674,968 | +€1,687 | +0.3% |
| Cash at bank and in hand | 54/58 | €803,529 | €1,000,423 | +€196,894 | +24.5% |
| Deferred charges and accrued income | 490/1 | €12,600 | €13,371 | +€772 | +6.1% |
| Total equity and liabilities | 10/49 | €2,111,173 | €2,301,880 | +€190,707 | +9.0% |
| Equity | 10/15 | €1,708,814 | €2,095,971 | +€387,157 | +22.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,702,614 | €2,089,771 | +€387,157 | +22.7% |
| Distributable reserves | 133 | €1,702,614 | €2,089,771 | +€387,157 | +22.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €59,534 | €59,534 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €59,534 | €59,534 | = | 0.0% |
| Pensions and similar obligations | 160 | €59,534 | €59,534 | = | 0.0% |
| Amounts payable | 17/49 | €342,824 | €146,375 | -€196,450 | -57.3% |
| Amounts payable within one year | 42/48 | €342,574 | €146,125 | -€196,450 | -57.3% |
| Financial debts | 43 | €36,431 | €0 | -€36,431 | -100% |
| Credit institutions | 430/8 | €36,431 | €0 | -€36,431 | -100% |
| Trade debts | 44 | €17,044 | €5,670 | -€11,374 | -66.7% |
| Suppliers | 440/4 | €17,044 | €5,670 | -€11,374 | -66.7% |
| Taxes, remuneration and social security | 45 | €80,539 | €45,498 | -€35,040 | -43.5% |
| Taxes | 450/3 | €65,917 | €25,009 | -€40,908 | -62.1% |
| Remuneration and social security | 454/9 | €14,621 | €20,489 | +€5,868 | +40.1% |
| Other amounts payable | 47/48 | €208,561 | €94,957 | -€113,604 | -54.5% |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Non-recurring operating income | 76A | - | €3,577 | +€3,577 | |
| Remuneration, social security and pensions | 62 | €66,287 | €69,619 | +€3,332 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,559 | €67,292 | +€19,733 | +41.5% |
| Other operating charges | 640/8 | €3,747 | €4,019 | +€272 | +7.2% |
| Gross operating margin | 9900 | €726,859 | €854,785 | +€127,926 | +17.6% |
| Operating profit (loss) | 9901 | €609,266 | €713,855 | +€104,589 | +17.2% |
| Financial income | 75/76B | €19,583 | €27,271 | +€7,688 | +39.3% |
| Recurring financial income | 75 | €19,583 | €27,271 | +€7,688 | +39.3% |
| Financial charges | 65/66B | €3,445 | €25,958 | +€22,513 | +654% |
| Recurring financial charges | 65 | €3,445 | €25,958 | +€22,513 | +654% |
| Profit (loss) for the period before taxes | 9903 | €625,404 | €715,168 | +€89,764 | +14.4% |
| Income taxes | 67/77 | €196,889 | €228,012 | +€31,123 | +15.8% |
| Profit (loss) for the period | 9904 | €428,515 | €487,157 | +€58,641 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €428,515 | €487,157 | +€58,641 | +13.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.