PASCAL MALMEDY: 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.
PASCAL MALMEDY
Largest movements
- Receivables within one year +€57,664
up €57,664 (+1184.0%), from €4,870 to €62,534
- Cash -€11,765
down €11,765 (-86.3%), from €13,628 to €1,864
mainly Receivables within one year (-€57,664) and Other debts (-€1,781)
- Tangible fixed assets +€1,166
new in 2025: €1,166
- Reserves +€35,970
up €35,970 (+646.2%), from €5,567 to €41,537
- Tax, wage and social debts +€13,988
up €13,988 (+190.5%), from €7,345 to €21,333
of which Taxes: +€11,401
- Other debts -€1,781
down €1,781 (-49.9%), from €3,570 to €1,788
- Trade debts -€1,055
down €1,055 (-75.5%), from €1,396 to €342
- Gross operating margin +€42,975
up €42,975 (+358.6%), from €11,985 to €54,960
- Taxes +€11,993
up €11,993 (+465.4%), from €2,577 to €14,570
- Financial charges +€1,442
up €1,442 (+119.8%), from €1,204 to €2,645
- Depreciation -€1,292
down €1,292 (-92.9%), from €1,391 to €99
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 | €19,877 | €67,533 | +€47,655 | +239.7% |
| Fixed assets | 21/28 | - | €1,166 | +€1,166 | |
| Tangible fixed assets | 22/27 | - | €1,166 | +€1,166 | |
| Other tangible fixed assets | 26 | - | €1,166 | +€1,166 | |
| Current assets | 29/58 | €19,877 | €66,367 | +€46,490 | +233.9% |
| Amounts receivable within one year | 40/41 | €4,870 | €62,534 | +€57,664 | +1184.0% |
| Trade receivables | 40 | €4,870 | €62,534 | +€57,664 | +1184.0% |
| Cash at bank and in hand | 54/58 | €13,628 | €1,864 | -€11,765 | -86.3% |
| Deferred charges and accrued income | 490/1 | €1,379 | €1,969 | +€590 | +42.8% |
| Total equity and liabilities | 10/49 | €19,877 | €67,533 | +€47,655 | +239.7% |
| Equity | 10/15 | €7,567 | €43,537 | +€35,970 | +475.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €5,567 | €41,537 | +€35,970 | +646.2% |
| Distributable reserves | 133 | €5,567 | €41,537 | +€35,970 | +646.2% |
| Amounts payable | 17/49 | €12,311 | €23,996 | +€11,685 | +94.9% |
| Amounts payable within one year | 42/48 | €12,311 | €23,463 | +€11,152 | +90.6% |
| Trade debts | 44 | €1,396 | €342 | -€1,055 | -75.5% |
| Suppliers | 440/4 | €1,396 | €342 | -€1,055 | -75.5% |
| Taxes, remuneration and social security | 45 | €7,345 | €21,333 | +€13,988 | +190.5% |
| Taxes | 450/3 | €6,342 | €17,743 | +€11,401 | +179.8% |
| Remuneration and social security | 454/9 | €1,003 | €3,590 | +€2,587 | +257.9% |
| Other amounts payable | 47/48 | €3,570 | €1,788 | -€1,781 | -49.9% |
| Accrued charges and deferred income | 492/3 | €0 | €533 | +€533 | +355413.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,391 | €99 | -€1,292 | -92.9% |
| Other operating charges | 640/8 | €387 | €914 | +€527 | +136.0% |
| Gross operating margin | 9900 | €11,985 | €54,960 | +€42,975 | +358.6% |
| Operating profit (loss) | 9901 | €10,206 | €53,946 | +€43,740 | +428.6% |
| Financial income | 75/76B | - | €72 | +€72 | |
| Recurring financial income | 75 | - | €72 | +€72 | |
| Financial charges | 65/66B | €1,204 | €2,645 | +€1,442 | +119.8% |
| Recurring financial charges | 65 | €1,204 | €2,645 | +€1,442 | +119.8% |
| Profit (loss) for the period before taxes | 9903 | €9,003 | €51,373 | +€42,371 | +470.6% |
| Income taxes | 67/77 | €2,577 | €14,570 | +€11,993 | +465.4% |
| Profit (loss) for the period | 9904 | €6,426 | €36,803 | +€30,377 | +472.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,426 | €36,803 | +€30,377 | +472.7% |
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 3 October 2026 via checked.be.