PASCO: 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.
PASCO
Largest movements
- Tangible fixed assets +€19,734
up €19,734 (+3.5%), from €564,404 to €584,139
of which Furniture and vehicles: +€42,644
- Cash +€16,828
up €16,828 (+114.6%), from €14,687 to €31,515
mainly Debts after one year (+€102,433) and Depreciation (+€27,662)
- Debts after one year +€102,433
up €102,433 (+43.8%), from €233,950 to €336,383
- Other debts -€76,650
down €76,650 (-71.0%), from €107,913 to €31,262
- Current portion of long-term debt +€8,782
up €8,782 (+31.8%), from €27,648 to €36,430
- Gross operating margin +€29,131
up €29,131 (+68.7%), from €42,397 to €71,527
- Staff costs +€18,034
up €18,034 (+166.6%), from €10,827 to €28,861
- Taxes +€2,855
up €2,855 (+505.0%), from €565 to €3,421
- Depreciation +€1,804
up €1,804 (+7.0%), from €25,859 to €27,662
- Financial charges -€1,085
down €1,085 (-9.3%), from €11,709 to €10,624
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 | €598,374 | €631,104 | +€32,730 | +5.5% |
| Fixed assets | 21/28 | €564,404 | €584,139 | +€19,734 | +3.5% |
| Tangible fixed assets | 22/27 | €564,404 | €584,139 | +€19,734 | +3.5% |
| Land and buildings | 22 | €562,097 | €540,480 | -€21,616 | -3.8% |
| Plant, machinery and equipment | 23 | €1,456 | €1,014 | -€441 | -30.3% |
| Furniture and vehicles | 24 | - | €42,644 | +€42,644 | |
| Other tangible fixed assets | 26 | €852 | €0 | -€852 | -100.0% |
| Current assets | 29/58 | €33,970 | €46,965 | +€12,995 | +38.3% |
| Amounts receivable within one year | 40/41 | €17,367 | €12,546 | -€4,821 | -27.8% |
| Trade receivables | 40 | €11,034 | €1,574 | -€9,460 | -85.7% |
| Other amounts receivable | 41 | €6,333 | €10,972 | +€4,639 | +73.2% |
| Current investments | 50/53 | €98 | €6 | -€91 | -93.5% |
| Cash at bank and in hand | 54/58 | €14,687 | €31,515 | +€16,828 | +114.6% |
| Deferred charges and accrued income | 490/1 | €1,818 | €2,898 | +€1,080 | +59.4% |
| Total equity and liabilities | 10/49 | €598,374 | €631,104 | +€32,730 | +5.5% |
| Equity | 10/15 | €206,296 | €203,542 | -€2,753 | -1.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €193,896 | €191,142 | -€2,753 | -1.4% |
| Distributable reserves | 133 | €193,896 | €191,142 | -€2,753 | -1.4% |
| Amounts payable | 17/49 | €392,078 | €427,561 | +€35,483 | +9.0% |
| Amounts payable after more than one year | 17 | €233,950 | €336,383 | +€102,433 | +43.8% |
| Financial debts | 170/4 | €233,950 | €336,383 | +€102,433 | +43.8% |
| Amounts payable within one year | 42/48 | €156,419 | €91,179 | -€65,240 | -41.7% |
| Current portion of amounts payable after more than one year | 42 | €27,648 | €36,430 | +€8,782 | +31.8% |
| Financial debts | 43 | - | €3,525 | +€3,525 | |
| Credit institutions | 430/8 | - | €3,525 | +€3,525 | |
| Trade debts | 44 | €6,990 | €4,510 | -€2,481 | -35.5% |
| Suppliers | 440/4 | €6,990 | €4,510 | -€2,481 | -35.5% |
| Taxes, remuneration and social security | 45 | €13,868 | €15,451 | +€1,583 | +11.4% |
| Taxes | 450/3 | €12,302 | €12,065 | -€237 | -1.9% |
| Remuneration and social security | 454/9 | €1,566 | €3,387 | +€1,820 | +116.2% |
| Other amounts payable | 47/48 | €107,913 | €31,262 | -€76,650 | -71.0% |
| Accrued charges and deferred income | 492/3 | €1,710 | €0 | -€1,710 | -100.0% |
| Remuneration, social security and pensions | 62 | €10,827 | €28,861 | +€18,034 | +166.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,859 | €27,662 | +€1,804 | +7.0% |
| Other operating charges | 640/8 | €4,015 | €3,713 | -€302 | -7.5% |
| Gross operating margin | 9900 | €42,397 | €71,527 | +€29,131 | +68.7% |
| Operating profit (loss) | 9901 | €1,696 | €11,291 | +€9,595 | +565.7% |
| Financial income | 75/76B | €744 | €1 | -€743 | -99.9% |
| Recurring financial income | 75 | €744 | €1 | -€743 | -99.9% |
| Financial charges | 65/66B | €11,709 | €10,624 | -€1,085 | -9.3% |
| Recurring financial charges | 65 | €11,709 | €10,624 | -€1,085 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | -€9,269 | €667 | +€9,937 | |
| Income taxes | 67/77 | €565 | €3,421 | +€2,855 | +505.0% |
| Profit (loss) for the period | 9904 | -€9,835 | -€2,753 | +€7,081 | +72.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,835 | -€2,753 | +€7,081 | +72.0% |
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.