PARO & PARTNERS: 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 & PARTNERS
Largest movements
- Tangible fixed assets +€195,060
up €195,060 (+80.9%), from €241,121 to €436,181
of which Other tangible fixed assets: +€168,234
- Cash +€85,127
up €85,127 (+25.0%), from €340,906 to €426,034
mainly Net result for the year (+€150,552) and Debts after one year (+€113,652)
- Stocks and contracts +€13,555
up €13,555 (+7.9%), from €171,264 to €184,819
- Reserves +€150,552
up €150,552 (+33.5%), from €448,794 to €599,346
- Debts after one year +€113,652
up €113,652 (+92.9%), from €122,334 to €235,986
- Tax, wage and social debts +€18,995
up €18,995 (+25.4%), from €74,829 to €93,824
of which Remuneration and social security: +€21,339
- Trade debts +€18,016
up €18,016 (+134%), from €13,435 to €31,451
- Accrued charges and deferred income +€15,686
up €15,686 (+25.5%), from €61,460 to €77,146
- Gross operating margin +€236,042
up €236,042 (+30.9%), from €762,926 to €998,968
- Staff costs +€111,496
up €111,496 (+18.8%), from €591,499 to €702,995
- Taxes +€28,378
up €28,378 (+131%), from €21,652 to €50,029
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 | €780,646 | €1,083,898 | +€303,252 | +38.8% |
| Fixed assets | 21/28 | €241,121 | €436,181 | +€195,060 | +80.9% |
| Tangible fixed assets | 22/27 | €241,121 | €436,181 | +€195,060 | +80.9% |
| Plant, machinery and equipment | 23 | €41,508 | €25,956 | -€15,551 | -37.5% |
| Furniture and vehicles | 24 | €71,535 | €128,087 | +€56,552 | +79.1% |
| Leasing and similar rights | 25 | €89,881 | €75,706 | -€14,174 | -15.8% |
| Other tangible fixed assets | 26 | €38,198 | €206,432 | +€168,234 | +440% |
| Current assets | 29/58 | €539,524 | €647,716 | +€108,192 | +20.1% |
| Stocks and contracts in progress | 3 | €171,264 | €184,819 | +€13,555 | +7.9% |
| Stocks | 30/36 | €171,264 | €184,819 | +€13,555 | +7.9% |
| Amounts receivable within one year | 40/41 | €13,942 | €13,875 | -€66 | -0.5% |
| Other amounts receivable | 41 | €13,942 | €13,875 | -€66 | -0.5% |
| Cash at bank and in hand | 54/58 | €340,906 | €426,034 | +€85,127 | +25.0% |
| Deferred charges and accrued income | 490/1 | €13,412 | €22,988 | +€9,576 | +71.4% |
| Total equity and liabilities | 10/49 | €780,646 | €1,083,898 | +€303,252 | +38.8% |
| Equity | 10/15 | €452,749 | €603,301 | +€150,552 | +33.3% |
| Contributions | 10/11 | €3,954 | €3,954 | = | 0.0% |
| Reserves | 13 | €448,794 | €599,346 | +€150,552 | +33.5% |
| Distributable reserves | 133 | €448,794 | €599,346 | +€150,552 | +33.5% |
| Amounts payable | 17/49 | €327,897 | €480,597 | +€152,700 | +46.6% |
| Amounts payable after more than one year | 17 | €122,334 | €235,986 | +€113,652 | +92.9% |
| Financial debts | 170/4 | €122,334 | €235,986 | +€113,652 | +92.9% |
| Amounts payable within one year | 42/48 | €144,103 | €167,465 | +€23,362 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | €51,370 | €37,318 | -€14,052 | -27.4% |
| Trade debts | 44 | €13,435 | €31,451 | +€18,016 | +134% |
| Suppliers | 440/4 | €13,435 | €31,451 | +€18,016 | +134% |
| Taxes, remuneration and social security | 45 | €74,829 | €93,824 | +€18,995 | +25.4% |
| Taxes | 450/3 | €12,137 | €9,793 | -€2,344 | -19.3% |
| Remuneration and social security | 454/9 | €62,692 | €84,030 | +€21,339 | +34.0% |
| Other amounts payable | 47/48 | €4,469 | €4,873 | +€403 | +9.0% |
| Accrued charges and deferred income | 492/3 | €61,460 | €77,146 | +€15,686 | +25.5% |
| Non-recurring operating income | 76A | €19,500 | €0 | -€19,500 | -100% |
| Remuneration, social security and pensions | 62 | €591,499 | €702,995 | +€111,496 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,660 | €69,629 | -€6,031 | -8.0% |
| Other operating charges | 640/8 | €11,351 | €12,933 | +€1,582 | +13.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €762,926 | €998,968 | +€236,042 | +30.9% |
| Operating profit (loss) | 9901 | €84,416 | €213,412 | +€128,995 | +153% |
| Financial income | 75/76B | €888 | €2,031 | +€1,142 | +129% |
| Recurring financial income | 75 | €888 | €2,031 | +€1,142 | +129% |
| Financial charges | 65/66B | €7,035 | €14,861 | +€7,825 | +111% |
| Recurring financial charges | 65 | €7,035 | €14,861 | +€7,825 | +111% |
| Profit (loss) for the period before taxes | 9903 | €78,269 | €200,581 | +€122,312 | +156% |
| Income taxes | 67/77 | €21,652 | €50,029 | +€28,378 | +131% |
| Profit (loss) for the period | 9904 | €56,617 | €150,552 | +€93,935 | +166% |
| Profit (loss) for the period to be appropriated | 9905 | €56,617 | €150,552 | +€93,935 | +166% |
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 16 October 2026 via checked.be.