PASO ADELANTE: what changed
PASO ADELANTE
Largest movements
- Cash +€45,424
up €45,424 (+26.9%), from €168,590 to €214,014
mainly Net result for the year (+€76,394) and Depreciation (+€689)
- Receivables within one year +€17,528
up €17,528 (+40.5%), from €43,311 to €60,839
of which Trade receivables: +€15,000
- Profit (loss) carried forward +€76,394
up €76,394 (+45.5%), from €167,999 to €244,392
- Tax, wage and social debts -€12,366
down €12,366 (-29.7%), from €41,680 to €29,313
of which Taxes: -€15,523
- Gross operating margin -€10,162
down €10,162 (-9.5%), from €107,226 to €97,064
- Taxes -€2,029
down €2,029 (-9.1%), from €22,380 to €20,350
- Other operating charges -€1,313
down €1,313 (-79.5%), from €1,652 to €339
- Financial income +€1,155
up €1,155 (+82.3%), from €1,404 to €2,559
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €215,660 | €278,369 | +€62,708 | +29.1% |
| Fixed assets | 21/28 | €2,569 | €2,270 | -€299 | -11.6% |
| Tangible fixed assets | 22/27 | €2,569 | €2,270 | -€299 | -11.6% |
| Plant, machinery and equipment | 23 | €2,569 | €2,270 | -€299 | -11.6% |
| Current assets | 29/58 | €213,092 | €276,099 | +€63,007 | +29.6% |
| Amounts receivable within one year | 40/41 | €43,311 | €60,839 | +€17,528 | +40.5% |
| Trade receivables | 40 | - | €15,000 | +€15,000 | |
| Other amounts receivable | 41 | €43,311 | €45,839 | +€2,528 | +5.8% |
| Cash at bank and in hand | 54/58 | €168,590 | €214,014 | +€45,424 | +26.9% |
| Deferred charges and accrued income | 490/1 | €1,190 | €1,245 | +€55 | +4.6% |
| Total equity and liabilities | 10/49 | €215,660 | €278,369 | +€62,708 | +29.1% |
| Equity | 10/15 | €169,999 | €246,392 | +€76,394 | +44.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €167,999 | €244,392 | +€76,394 | +45.5% |
| Amounts payable | 17/49 | €45,662 | €31,976 | -€13,685 | -30.0% |
| Amounts payable within one year | 42/48 | €45,662 | €31,976 | -€13,685 | -30.0% |
| Trade debts | 44 | €3,982 | €2,663 | -€1,319 | -33.1% |
| Suppliers | 440/4 | €3,982 | €2,663 | -€1,319 | -33.1% |
| Taxes, remuneration and social security | 45 | €41,680 | €29,313 | -€12,366 | -29.7% |
| Taxes | 450/3 | €41,680 | €26,157 | -€15,523 | -37.2% |
| Remuneration and social security | 454/9 | - | €3,156 | +€3,156 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €350 | €689 | +€339 | +96.7% |
| Other operating charges | 640/8 | €1,652 | €339 | -€1,313 | -79.5% |
| Gross operating margin | 9900 | €107,226 | €97,064 | -€10,162 | -9.5% |
| Operating profit (loss) | 9901 | €105,224 | €96,036 | -€9,188 | -8.7% |
| Financial income | 75/76B | €1,404 | €2,559 | +€1,155 | +82.3% |
| Recurring financial income | 75 | €1,404 | €2,559 | +€1,155 | +82.3% |
| Financial charges | 65/66B | €2,685 | €1,851 | -€834 | -31.1% |
| Recurring financial charges | 65 | €2,685 | €1,851 | -€834 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | €103,942 | €96,744 | -€7,198 | -6.9% |
| Income taxes | 67/77 | €22,380 | €20,350 | -€2,029 | -9.1% |
| Profit (loss) for the period | 9904 | €81,563 | €76,394 | -€5,169 | -6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €81,563 | €76,394 | -€5,169 | -6.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.