PASMAL-GEST: 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.
PASMAL-GEST
Largest movements
- Cash +€267,820
up €267,820 (+743.9%), from €36,000 to €303,820
mainly Net result for the year (+€177,676) and Investment in fixed assets (net) (+€143,596)
- Tangible fixed assets -€236,554
down €236,554 (-9.5%), from €2.5m to €2.3m
of which Land and buildings: -€199,658
- Receivables within one year +€53,487
up €53,487 (+970.1%), from €5,513 to €59,000
- Profit (loss) carried forward +€292,951
up €292,951 (+150.6%), from €194,537 to €487,489
- Reserves -€115,276
down €115,276 (-6.5%), from €1.8m to €1.6m
of which Tax-exempt reserves: -€115,276
- Provisions -€59,358
down €59,358 (-13.5%), from €439,571 to €380,212
- Current portion of long-term debt -€30,264
down €30,264 (-61.3%), from €49,352 to €19,089
- Gross operating margin +€120,193
up €120,193 (+90.9%), from €132,207 to €252,400
- Taxes +€7,288
up €7,288 (+45.6%), from €16,000 to €23,288
- Depreciation -€5,500
down €5,500 (-5.6%), from €98,458 to €92,958
- Financial charges -€5,304
down €5,304 (-59.2%), from €8,964 to €3,660
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 | €2,530,996 | €2,617,032 | +€86,036 | +3.4% |
| Fixed assets | 21/28 | €2,489,482 | €2,252,928 | -€236,554 | -9.5% |
| Tangible fixed assets | 22/27 | €2,488,663 | €2,252,109 | -€236,554 | -9.5% |
| Land and buildings | 22 | €2,246,129 | €2,046,471 | -€199,658 | -8.9% |
| Plant, machinery and equipment | 23 | €921 | €691 | -€230 | -25.0% |
| Other tangible fixed assets | 26 | €241,613 | €204,947 | -€36,666 | -15.2% |
| Financial fixed assets | 28 | €819 | €819 | = | 0.0% |
| Current assets | 29/58 | €41,514 | €364,104 | +€322,590 | +777.1% |
| Amounts receivable within one year | 40/41 | €5,513 | €59,000 | +€53,487 | +970.1% |
| Other amounts receivable | 41 | €5,513 | €59,000 | +€53,487 | +970.1% |
| Cash at bank and in hand | 54/58 | €36,000 | €303,820 | +€267,820 | +743.9% |
| Deferred charges and accrued income | 490/1 | - | €1,284 | +€1,284 | |
| Total equity and liabilities | 10/49 | €2,530,996 | €2,617,032 | +€86,036 | +3.4% |
| Equity | 10/15 | €1,971,962 | €2,149,638 | +€177,676 | +9.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,765,025 | €1,649,749 | -€115,276 | -6.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €853,665 | €738,389 | -€115,276 | -13.5% |
| Distributable reserves | 133 | €909,500 | €909,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €194,537 | €487,489 | +€292,951 | +150.6% |
| Provisions and deferred taxes | 16 | €439,571 | €380,212 | -€59,358 | -13.5% |
| Deferred taxes | 168 | €439,571 | €380,212 | -€59,358 | -13.5% |
| Amounts payable | 17/49 | €119,463 | €87,181 | -€32,281 | -27.0% |
| Amounts payable after more than one year | 17 | €15,276 | - | -€15,276 | |
| Financial debts | 170/4 | €15,276 | - | -€15,276 | |
| Amounts payable within one year | 42/48 | €97,444 | €83,330 | -€14,114 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €49,352 | €19,089 | -€30,264 | -61.3% |
| Taxes, remuneration and social security | 45 | €2,453 | €23,696 | +€21,243 | +865.9% |
| Taxes | 450/3 | €2,453 | €23,696 | +€21,243 | +865.9% |
| Other amounts payable | 47/48 | €45,638 | €40,545 | -€5,093 | -11.2% |
| Accrued charges and deferred income | 492/3 | €6,743 | €3,851 | -€2,892 | -42.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,458 | €92,958 | -€5,500 | -5.6% |
| Other operating charges | 640/8 | €14,240 | €14,176 | -€65 | -0.5% |
| Gross operating margin | 9900 | €132,207 | €252,400 | +€120,193 | +90.9% |
| Operating profit (loss) | 9901 | €19,508 | €145,266 | +€125,758 | +644.6% |
| Financial charges | 65/66B | €8,964 | €3,660 | -€5,304 | -59.2% |
| Recurring financial charges | 65 | €8,964 | €3,660 | -€5,304 | -59.2% |
| Profit (loss) for the period before taxes | 9903 | €10,544 | €141,606 | +€131,061 | +1242.9% |
| Transfer from deferred taxes | 780 | €17,682 | €59,358 | +€41,676 | +235.7% |
| Income taxes | 67/77 | €16,000 | €23,288 | +€7,288 | +45.6% |
| Profit (loss) for the period | 9904 | €12,226 | €177,676 | +€165,450 | +1353.3% |
| Transfer from tax-exempt reserves | 789 | €34,338 | €115,276 | +€80,937 | +235.7% |
| Profit (loss) for the period to be appropriated | 9905 | €46,565 | €292,951 | +€246,387 | +529.1% |
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 8 October 2026 via checked.be.