PAS A PAS: what changed
Two fiscal 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.
PAS A PAS
Largest movements
- Cash -€31,533
down €31,533 (-72.5%), from €43,505 to €11,972
mainly Net result for the year (-€30,508) and Trade debts (-€3,169)
- Receivables within one year +€823
up €823 (+15.9%), from €5,175 to €5,998
of which Trade receivables: +€500
- Profit (loss) carried forward -€30,508
down €30,508 (-190.7%), from -€16,000 to -€46,508
- Other debts +€4,369
up €4,369 (+18.4%), from €23,746 to €28,115
- Trade debts -€3,169
down €3,169 (-39.2%), from €8,078 to €4,909
- Accrued charges and deferred income -€980
no longer reported in 2025 (was €980)
- Gross operating margin -€29,495
down €29,495 (-18.4%), from €160,076 to €130,581
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.
Cash bridge derived
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 | €49,431 | €18,527 | -€30,904 | -62.5% |
| Fixed assets | 21/28 | €706 | €513 | -€193 | -27.4% |
| Tangible fixed assets | 22/27 | €706 | €513 | -€193 | -27.4% |
| Furniture and vehicles | 24 | €706 | €513 | -€193 | -27.4% |
| Current assets | 29/58 | €48,724 | €18,014 | -€30,710 | -63.0% |
| Amounts receivable within one year | 40/41 | €5,175 | €5,998 | +€823 | +15.9% |
| Trade receivables | 40 | - | €500 | +€500 | |
| Other amounts receivable | 41 | €5,175 | €5,498 | +€323 | +6.2% |
| Cash at bank and in hand | 54/58 | €43,505 | €11,972 | -€31,533 | -72.5% |
| Deferred charges and accrued income | 490/1 | €44 | €44 | -€0 | -0.6% |
| Total equity and liabilities | 10/49 | €49,431 | €18,527 | -€30,904 | -62.5% |
| Equity | 10/15 | -€9,239 | -€39,747 | -€30,508 | -330.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €561 | €561 | +€0 | 0.0% |
| Distributable reserves | 133 | €561 | €561 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€16,000 | -€46,508 | -€30,508 | -190.7% |
| Amounts payable | 17/49 | €58,669 | €58,274 | -€395 | -0.7% |
| Amounts payable within one year | 42/48 | €57,689 | €58,274 | +€585 | +1.0% |
| Trade debts | 44 | €8,078 | €4,909 | -€3,169 | -39.2% |
| Suppliers | 440/4 | €8,078 | €4,909 | -€3,169 | -39.2% |
| Advances received on contracts in progress | 46 | €327 | - | -€327 | |
| Taxes, remuneration and social security | 45 | €25,538 | €25,250 | -€288 | -1.1% |
| Taxes | 450/3 | €312 | €95 | -€217 | -69.6% |
| Remuneration and social security | 454/9 | €25,226 | €25,155 | -€71 | -0.3% |
| Other amounts payable | 47/48 | €23,746 | €28,115 | +€4,369 | +18.4% |
| Accrued charges and deferred income | 492/3 | €980 | - | -€980 | |
| Remuneration, social security and pensions | 62 | €161,841 | €160,301 | -€1,540 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €194 | €193 | -€1 | -0.3% |
| Other operating charges | 640/8 | €594 | €213 | -€381 | -64.2% |
| Gross operating margin | 9900 | €160,076 | €130,581 | -€29,495 | -18.4% |
| Operating profit (loss) | 9901 | -€2,553 | -€30,126 | -€27,573 | -1080.1% |
| Financial income | 75/76B | €849 | €228 | -€621 | -73.1% |
| Recurring financial income | 75 | €849 | €228 | -€621 | -73.1% |
| Financial charges | 65/66B | €472 | €542 | +€70 | +14.9% |
| Recurring financial charges | 65 | €472 | €542 | +€70 | +14.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,175 | -€30,440 | -€28,265 | -1299.3% |
| Income taxes | 67/77 | €130 | €68 | -€62 | -47.8% |
| Profit (loss) for the period | 9904 | -€2,306 | -€30,508 | -€28,202 | -1223.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,306 | -€30,508 | -€28,202 | -1223.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.