PASA: 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.
PASA
Largest movements
- Cash +€6,258
up €6,258 (+341%), from €1,834 to €8,092
mainly Depreciation (+€13,524) and Trade debts (+€10,669)
- Deferred charges and accrued income -€3,630
down €3,630 (-93.1%), from €3,900 to €271
- Tangible fixed assets +€2,757
up €2,757 (+17.2%), from €15,981 to €18,738
of which Furniture and vehicles: +€6,571
- Trade debts +€10,669
up €10,669 (+55.7%), from €19,158 to €29,826
- Tax, wage and social debts -€6,408
down €6,408 (-29.6%), from €21,649 to €15,241
- Gross operating margin -€8,603
down €8,603 (-24.7%), from €34,771 to €26,168
- Depreciation +€3,800
up €3,800 (+39.1%), from €9,724 to €13,524
- Taxes -€3,653
down €3,653 (-65.7%), from €5,562 to €1,909
- Other operating charges +€3,441
up €3,441 (+313%), from €1,098 to €4,539
- Financial charges -€1,964
down €1,964 (-50.6%), from €3,884 to €1,920
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 | €159,628 | €163,874 | +€4,246 | +2.7% |
| Fixed assets | 21/28 | €17,181 | €19,938 | +€2,757 | +16.0% |
| Tangible fixed assets | 22/27 | €15,981 | €18,738 | +€2,757 | +17.2% |
| Land and buildings | 22 | €4,731 | €1,496 | -€3,235 | -68.4% |
| Plant, machinery and equipment | 23 | €1,160 | €580 | -€580 | -50.0% |
| Furniture and vehicles | 24 | €10,091 | €16,662 | +€6,571 | +65.1% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €142,447 | €143,936 | +€1,489 | +1.0% |
| Stocks and contracts in progress | 3 | €3,013 | €3,153 | +€140 | +4.6% |
| Stocks | 30/36 | €3,013 | €3,153 | +€140 | +4.6% |
| Amounts receivable within one year | 40/41 | €133,700 | €132,421 | -€1,279 | -1.0% |
| Other amounts receivable | 41 | €133,700 | €132,421 | -€1,279 | -1.0% |
| Cash at bank and in hand | 54/58 | €1,834 | €8,092 | +€6,258 | +341% |
| Deferred charges and accrued income | 490/1 | €3,900 | €271 | -€3,630 | -93.1% |
| Total equity and liabilities | 10/49 | €159,628 | €163,874 | +€4,246 | +2.7% |
| Equity | 10/15 | €118,822 | €118,807 | -€15 | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €92,745 | €92,745 | = | 0.0% |
| 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 | €90,885 | €90,885 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,477 | €7,462 | -€15 | -0.2% |
| Amounts payable | 17/49 | €40,806 | €45,067 | +€4,260 | +10.4% |
| Amounts payable within one year | 42/48 | €40,806 | €45,067 | +€4,260 | +10.4% |
| Trade debts | 44 | €19,158 | €29,826 | +€10,669 | +55.7% |
| Suppliers | 440/4 | €19,158 | €29,826 | +€10,669 | +55.7% |
| Taxes, remuneration and social security | 45 | €21,649 | €15,241 | -€6,408 | -29.6% |
| Taxes | 450/3 | €21,649 | €15,241 | -€6,408 | -29.6% |
| Non-recurring operating income | 76A | €60 | €60 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €15,084 | €13,380 | -€1,704 | -11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,724 | €13,524 | +€3,800 | +39.1% |
| Other operating charges | 640/8 | €1,098 | €4,539 | +€3,441 | +313% |
| Non-recurring operating charges | 66A | €230 | - | -€230 | |
| Gross operating margin | 9900 | €34,771 | €26,168 | -€8,603 | -24.7% |
| Operating profit (loss) | 9901 | €8,635 | -€5,275 | -€13,910 | |
| Financial income | 75/76B | €8,287 | €9,089 | +€801 | +9.7% |
| Recurring financial income | 75 | €8,287 | €9,089 | +€801 | +9.7% |
| Financial charges | 65/66B | €3,884 | €1,920 | -€1,964 | -50.6% |
| Recurring financial charges | 65 | €3,884 | €1,920 | -€1,964 | -50.6% |
| Profit (loss) for the period before taxes | 9903 | €13,039 | €1,894 | -€11,145 | -85.5% |
| Income taxes | 67/77 | €5,562 | €1,909 | -€3,653 | -65.7% |
| Profit (loss) for the period | 9904 | €7,477 | -€15 | -€7,492 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,477 | -€15 | -€7,492 |
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 17 October 2026 via checked.be.