PASIND: 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.
PASIND
Largest movements
- Cash -€64,440
down €64,440 (-44.0%), from €146,352 to €81,912
mainly Debts after one year (-€98,623) and Investment in fixed assets (net) (-€98,107)
- Tangible fixed assets -€31,878
down €31,878 (-2.4%), from €1.3m to €1.3m
- Receivables within one year -€22,554
down €22,554 (-11.9%), from €188,776 to €166,222
of which Trade receivables: -€170,249
- Debts after one year -€98,623
down €98,623 (-9.3%), from €1.1m to €959,971
- Other debts -€25,916
down €25,916 (-100.0%), from €25,916 to €0
- Gross operating margin +€122,413
up €122,413 (+80.1%), from €152,740 to €275,153
- Depreciation +€77,630
up €77,630 (+148.3%), from €52,355 to €129,985
- Financial charges +€30,531
up €30,531 (+329.7%), from €9,261 to €39,792
- Taxes +€9,394
up €9,394 (+45.1%), from €20,807 to €30,202
- Other operating charges -€6,120
down €6,120 (-30.1%), from €20,329 to €14,208
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 | €1,662,126 | €1,545,340 | -€116,786 | -7.0% |
| Fixed assets | 21/28 | €1,324,016 | €1,292,138 | -€31,878 | -2.4% |
| Tangible fixed assets | 22/27 | €1,324,016 | €1,292,138 | -€31,878 | -2.4% |
| Land and buildings | 22 | €1,324,016 | €1,292,138 | -€31,878 | -2.4% |
| Current assets | 29/58 | €338,110 | €253,202 | -€84,908 | -25.1% |
| Amounts receivable within one year | 40/41 | €188,776 | €166,222 | -€22,554 | -11.9% |
| Trade receivables | 40 | €183,776 | €13,527 | -€170,249 | -92.6% |
| Other amounts receivable | 41 | €5,000 | €152,695 | +€147,695 | +2953.9% |
| Cash at bank and in hand | 54/58 | €146,352 | €81,912 | -€64,440 | -44.0% |
| Deferred charges and accrued income | 490/1 | €2,982 | €5,068 | +€2,086 | +70.0% |
| Total equity and liabilities | 10/49 | €1,662,126 | €1,545,340 | -€116,786 | -7.0% |
| Equity | 10/15 | €464,100 | €461,858 | -€2,242 | -0.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €402,100 | €399,858 | -€2,242 | -0.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €395,900 | €393,658 | -€2,242 | -0.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,198,027 | €1,083,482 | -€114,544 | -9.6% |
| Amounts payable after more than one year | 17 | €1,058,594 | €959,971 | -€98,623 | -9.3% |
| Financial debts | 170/4 | €1,058,594 | €959,971 | -€98,623 | -9.3% |
| Amounts payable within one year | 42/48 | €137,776 | €120,946 | -€16,830 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €89,249 | €100,780 | +€11,531 | +12.9% |
| Trade debts | 44 | €8,745 | €20,166 | +€11,421 | +130.6% |
| Suppliers | 440/4 | €8,745 | €20,166 | +€11,421 | +130.6% |
| Taxes, remuneration and social security | 45 | €13,865 | €0 | -€13,865 | -100.0% |
| Taxes | 450/3 | €13,865 | €0 | -€13,865 | -100.0% |
| Other amounts payable | 47/48 | €25,916 | €0 | -€25,916 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,657 | €2,566 | +€909 | +54.8% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,355 | €129,985 | +€77,630 | +148.3% |
| Other operating charges | 640/8 | €20,329 | €14,208 | -€6,120 | -30.1% |
| Gross operating margin | 9900 | €152,740 | €275,153 | +€122,413 | +80.1% |
| Operating profit (loss) | 9901 | €80,057 | €130,961 | +€50,904 | +63.6% |
| Financial income | 75/76B | €272 | €2,791 | +€2,520 | +928.2% |
| Recurring financial income | 75 | €272 | €2,791 | +€2,520 | +928.2% |
| Financial charges | 65/66B | €9,261 | €39,792 | +€30,531 | +329.7% |
| Recurring financial charges | 65 | €9,261 | €39,792 | +€30,531 | +329.7% |
| Profit (loss) for the period before taxes | 9903 | €71,067 | €93,960 | +€22,893 | +32.2% |
| Income taxes | 67/77 | €20,807 | €30,202 | +€9,394 | +45.1% |
| Profit (loss) for the period | 9904 | €50,260 | €63,758 | +€13,498 | +26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €50,260 | €63,758 | +€13,498 | +26.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.