PAS & PAS: 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.
PAS & PAS
Largest movements
- Cash +€57,193
up €57,193 (+125.2%), from €45,697 to €102,890
mainly Current investments (+€42,032) and Net result for the year (+€22,777)
- Current investments -€42,032
down €42,032 (-84.1%), from €50,000 to €7,968
- Receivables within one year +€7,910
up €7,910 (+56.1%), from €14,102 to €22,012
of which Trade receivables: +€4,458
- Deferred charges and accrued income -€2,531
no longer reported in 2025 (was €2,531)
- Reserves +€20,000
up €20,000 (+36.5%), from €54,860 to €74,860
of which Distributable reserves: +€20,000
- Profit (loss) carried forward +€2,777
up €2,777 (+5.4%), from €51,444 to €54,222
- Trade debts -€1,925
down €1,925 (-67.3%), from €2,861 to €935
- Gross operating margin +€16,300
up €16,300 (+105.0%), from €15,529 to €31,830
- Taxes +€4,902
up €4,902 (+114.9%), from €4,267 to €9,169
- Financial income +€1,380
up €1,380 (+200.5%), from €689 to €2,069
- Depreciation -€799
down €799 (-64.8%), from €1,232 to €433
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 | €118,784 | €139,876 | +€21,092 | +17.8% |
| Fixed assets | 21/28 | €6,454 | €7,006 | +€552 | +8.6% |
| Tangible fixed assets | 22/27 | €6,454 | €7,006 | +€552 | +8.6% |
| Land and buildings | 22 | €6,389 | €6,050 | -€339 | -5.3% |
| Plant, machinery and equipment | 23 | €0 | €957 | +€957 | |
| Furniture and vehicles | 24 | €66 | €0 | -€66 | -100.0% |
| Current assets | 29/58 | €112,330 | €132,870 | +€20,540 | +18.3% |
| Amounts receivable within one year | 40/41 | €14,102 | €22,012 | +€7,910 | +56.1% |
| Trade receivables | 40 | €13,662 | €18,120 | +€4,458 | +32.6% |
| Other amounts receivable | 41 | €440 | €3,891 | +€3,452 | +785.3% |
| Current investments | 50/53 | €50,000 | €7,968 | -€42,032 | -84.1% |
| Cash at bank and in hand | 54/58 | €45,697 | €102,890 | +€57,193 | +125.2% |
| Deferred charges and accrued income | 490/1 | €2,531 | - | -€2,531 | |
| Total equity and liabilities | 10/49 | €118,784 | €139,876 | +€21,092 | +17.8% |
| Equity | 10/15 | €112,504 | €135,282 | +€22,777 | +20.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €54,860 | €74,860 | +€20,000 | +36.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €53,000 | €73,000 | +€20,000 | +37.7% |
| Profit (loss) carried forward | 14 | €51,444 | €54,222 | +€2,777 | +5.4% |
| Amounts payable | 17/49 | €6,280 | €4,595 | -€1,685 | -26.8% |
| Amounts payable within one year | 42/48 | €6,280 | €4,595 | -€1,685 | -26.8% |
| Trade debts | 44 | €2,861 | €935 | -€1,925 | -67.3% |
| Suppliers | 440/4 | €2,861 | €935 | -€1,925 | -67.3% |
| Taxes, remuneration and social security | 45 | €2,607 | €2,508 | -€99 | -3.8% |
| Taxes | 450/3 | €2,607 | €2,508 | -€99 | -3.8% |
| Other amounts payable | 47/48 | €812 | €1,151 | +€339 | +41.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,232 | €433 | -€799 | -64.8% |
| Other operating charges | 640/8 | €1,356 | €1,214 | -€142 | -10.5% |
| Gross operating margin | 9900 | €15,529 | €31,830 | +€16,300 | +105.0% |
| Operating profit (loss) | 9901 | €12,941 | €30,183 | +€17,242 | +133.2% |
| Financial income | 75/76B | €689 | €2,069 | +€1,380 | +200.5% |
| Recurring financial income | 75 | €689 | €2,069 | +€1,380 | +200.5% |
| Financial charges | 65/66B | €476 | €305 | -€170 | -35.8% |
| Recurring financial charges | 65 | €476 | €305 | -€170 | -35.8% |
| Profit (loss) for the period before taxes | 9903 | €13,154 | €31,946 | +€18,792 | +142.9% |
| Income taxes | 67/77 | €4,267 | €9,169 | +€4,902 | +114.9% |
| Profit (loss) for the period | 9904 | €8,887 | €22,777 | +€13,890 | +156.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,887 | €22,777 | +€13,890 | +156.3% |
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 11 October 2026 via checked.be.