PASIA: 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.
PASIA
Largest movements
- Cash -€161,219
down €161,219 (-97.4%), from €165,584 to €4,364
mainly Other debts (-€181,835) and Investment in fixed assets (net) (-€135,617)
- Financial fixed assets +€129,963
up €129,963 (+8.1%), from €1.6m to €1.7m
- Deferred charges and accrued income -€46,888
down €46,888 (-48.9%), from €95,875 to €48,987
- Tangible fixed assets -€45,494
down €45,494 (-2.7%), from €1.7m to €1.6m
of which Land and buildings: -€39,323
- Other debts -€181,835
down €181,835 (-33.6%), from €541,835 to €360,000
- Financial income -€658,552
down €658,552 (-93.6%), from €703,351 to €44,799
- Taxes -€66,141
down €66,141 (-79.7%), from €83,024 to €16,883
- Gross operating margin -€10,071
down €10,071 (-15.7%), from €63,968 to €53,897
- Financial charges -€3,881
down €3,881 (-88.6%), from €4,381 to €501
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 | €4,179,329 | €4,070,904 | -€108,425 | -2.6% |
| Fixed assets | 21/28 | €3,272,480 | €3,356,950 | +€84,469 | +2.6% |
| Tangible fixed assets | 22/27 | €1,662,779 | €1,617,285 | -€45,494 | -2.7% |
| Land and buildings | 22 | €1,649,916 | €1,610,594 | -€39,323 | -2.4% |
| Furniture and vehicles | 24 | €7,660 | €1,687 | -€5,973 | -78.0% |
| Other tangible fixed assets | 26 | €5,202 | €5,004 | -€199 | -3.8% |
| Financial fixed assets | 28 | €1,609,702 | €1,739,665 | +€129,963 | +8.1% |
| Current assets | 29/58 | €906,849 | €713,955 | -€192,894 | -21.3% |
| Amounts receivable within one year | 40/41 | €645,390 | €660,603 | +€15,213 | +2.4% |
| Trade receivables | 40 | €13,224 | €17,818 | +€4,594 | +34.7% |
| Other amounts receivable | 41 | €632,166 | €642,785 | +€10,619 | +1.7% |
| Cash at bank and in hand | 54/58 | €165,584 | €4,364 | -€161,219 | -97.4% |
| Deferred charges and accrued income | 490/1 | €95,875 | €48,987 | -€46,888 | -48.9% |
| Total equity and liabilities | 10/49 | €4,179,329 | €4,070,904 | -€108,425 | -2.6% |
| Equity | 10/15 | €3,548,028 | €3,576,380 | +€28,352 | +0.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €3,249,819 | €3,278,171 | +€28,352 | +0.9% |
| Non-distributable reserves | 130/1 | €66,201 | €66,201 | = | 0.0% |
| Legal reserve | 130 | €66,201 | €66,201 | = | 0.0% |
| Distributable reserves | 133 | €3,183,618 | €3,211,970 | +€28,352 | +0.9% |
| Profit (loss) carried forward | 14 | €236,709 | €236,709 | = | 0.0% |
| Amounts payable | 17/49 | €631,301 | €494,524 | -€136,777 | -21.7% |
| Amounts payable within one year | 42/48 | €631,301 | €494,524 | -€136,777 | -21.7% |
| Financial debts | 43 | - | €24,186 | +€24,186 | |
| Credit institutions | 430/8 | - | €24,186 | +€24,186 | |
| Trade debts | 44 | €701 | €4,171 | +€3,471 | +495% |
| Suppliers | 440/4 | €701 | €4,171 | +€3,471 | +495% |
| Taxes, remuneration and social security | 45 | €88,765 | €106,167 | +€17,402 | +19.6% |
| Taxes | 450/3 | €88,765 | €106,167 | +€17,402 | +19.6% |
| Other amounts payable | 47/48 | €541,835 | €360,000 | -€181,835 | -33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,666 | €51,148 | +€482 | +1.0% |
| Other operating charges | 640/8 | €1,814 | €1,813 | -€1 | -0.1% |
| Gross operating margin | 9900 | €63,968 | €53,897 | -€10,071 | -15.7% |
| Operating profit (loss) | 9901 | €11,488 | €937 | -€10,551 | -91.8% |
| Financial income | 75/76B | €703,351 | €44,799 | -€658,552 | -93.6% |
| Recurring financial income | 75 | €703,351 | €44,799 | -€658,552 | -93.6% |
| Financial charges | 65/66B | €4,381 | €501 | -€3,881 | -88.6% |
| Recurring financial charges | 65 | €4,381 | €501 | -€3,881 | -88.6% |
| Profit (loss) for the period before taxes | 9903 | €710,458 | €45,235 | -€665,223 | -93.6% |
| Income taxes | 67/77 | €83,024 | €16,883 | -€66,141 | -79.7% |
| Profit (loss) for the period | 9904 | €627,433 | €28,352 | -€599,081 | -95.5% |
| Profit (loss) for the period to be appropriated | 9905 | €627,433 | €28,352 | -€599,081 | -95.5% |
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 27 October 2026 via checked.be.