PASCALINO: 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.
PASCALINO
Largest movements
- Receivables within one year +€109,155
up €109,155 (+26.2%), from €416,355 to €525,509
of which Trade receivables: +€144,477
- Cash +€58,467
up €58,467 (+194.8%), from €30,011 to €88,478
mainly Net result for the year (+€189,229) and Other debts (+€100,000)
- Tangible fixed assets -€57,687
down €57,687 (-4.2%), from €1.4m to €1.3m
of which Land and buildings: -€49,390
- Other debts +€100,000
up €100,000, from €0 to €100,000
- Reserves +€89,229
up €89,229 (+6.8%), from €1.3m to €1.4m
- Debts after one year -€35,671
down €35,671 (-6.7%), from €532,615 to €496,944
- Trade debts -€28,502
down €28,502 (-13.5%), from €211,042 to €182,541
- Gross operating margin +€111,592
up €111,592 (+16.6%), from €673,006 to €784,598
- Staff costs +€20,458
up €20,458 (+5.2%), from €393,260 to €413,717
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 | €2,179,008 | €2,294,095 | +€115,087 | +5.3% |
| Fixed assets | 21/28 | €1,377,394 | €1,319,707 | -€57,687 | -4.2% |
| Tangible fixed assets | 22/27 | €1,377,394 | €1,319,707 | -€57,687 | -4.2% |
| Land and buildings | 22 | €1,185,693 | €1,136,303 | -€49,390 | -4.2% |
| Plant, machinery and equipment | 23 | €48,752 | €57,122 | +€8,370 | +17.2% |
| Furniture and vehicles | 24 | €7,750 | €1,945 | -€5,805 | -74.9% |
| Other tangible fixed assets | 26 | €135,199 | €124,337 | -€10,862 | -8.0% |
| Current assets | 29/58 | €801,614 | €974,387 | +€172,773 | +21.6% |
| Stocks and contracts in progress | 3 | €345,128 | €354,542 | +€9,415 | +2.7% |
| Stocks | 30/36 | €345,128 | €354,542 | +€9,415 | +2.7% |
| Amounts receivable within one year | 40/41 | €416,355 | €525,509 | +€109,155 | +26.2% |
| Trade receivables | 40 | €371,533 | €516,009 | +€144,477 | +38.9% |
| Other amounts receivable | 41 | €44,822 | €9,500 | -€35,322 | -78.8% |
| Cash at bank and in hand | 54/58 | €30,011 | €88,478 | +€58,467 | +194.8% |
| Deferred charges and accrued income | 490/1 | €10,121 | €5,858 | -€4,263 | -42.1% |
| Total equity and liabilities | 10/49 | €2,179,008 | €2,294,095 | +€115,087 | +5.3% |
| Equity | 10/15 | €1,323,192 | €1,412,421 | +€89,229 | +6.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,303,192 | €1,392,421 | +€89,229 | +6.8% |
| Distributable reserves | 133 | €1,303,192 | €1,392,421 | +€89,229 | +6.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €855,816 | €881,673 | +€25,857 | +3.0% |
| Amounts payable after more than one year | 17 | €532,615 | €496,944 | -€35,671 | -6.7% |
| Financial debts | 170/4 | €532,615 | €496,944 | -€35,671 | -6.7% |
| Amounts payable within one year | 42/48 | €323,186 | €384,714 | +€61,528 | +19.0% |
| Current portion of amounts payable after more than one year | 42 | €46,835 | €35,671 | -€11,164 | -23.8% |
| Trade debts | 44 | €211,042 | €182,541 | -€28,502 | -13.5% |
| Suppliers | 440/4 | €211,042 | €182,541 | -€28,502 | -13.5% |
| Taxes, remuneration and social security | 45 | €65,308 | €66,502 | +€1,194 | +1.8% |
| Taxes | 450/3 | €6,432 | €9,366 | +€2,934 | +45.6% |
| Remuneration and social security | 454/9 | €58,876 | €57,137 | -€1,740 | -3.0% |
| Other amounts payable | 47/48 | €0 | €100,000 | +€100,000 | |
| Accrued charges and deferred income | 492/3 | €15 | €15 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €393,260 | €413,717 | +€20,458 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,916 | €99,191 | +€6,275 | +6.8% |
| Other operating charges | 640/8 | €26,561 | €27,296 | +€735 | +2.8% |
| Gross operating margin | 9900 | €673,006 | €784,598 | +€111,592 | +16.6% |
| Operating profit (loss) | 9901 | €160,269 | €244,393 | +€84,124 | +52.5% |
| Financial income | 75/76B | €11,105 | €14,108 | +€3,003 | +27.0% |
| Recurring financial income | 75 | €11,105 | €14,108 | +€3,003 | +27.0% |
| Financial charges | 65/66B | €39,092 | €38,886 | -€206 | -0.5% |
| Recurring financial charges | 65 | €39,092 | €38,886 | -€206 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | €132,282 | €219,616 | +€87,333 | +66.0% |
| Income taxes | 67/77 | €27,415 | €30,386 | +€2,971 | +10.8% |
| Profit (loss) for the period | 9904 | €104,867 | €189,229 | +€84,362 | +80.4% |
| Profit (loss) for the period to be appropriated | 9905 | €104,867 | €189,229 | +€84,362 | +80.4% |
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 5 October 2026 via checked.be.