PASQUARELLI: 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.
PASQUARELLI
Largest movements
- Receivables within one year +€189,075
up €189,075 (+70.3%), from €269,028 to €458,103
of which Trade receivables: +€170,884
- Cash -€45,166
down €45,166 (-32.3%), from €139,767 to €94,601
mainly Receivables within one year (-€189,075) and Debts after one year (-€134,467)
- Stocks and contracts +€20,668
up €20,668 (+13.7%), from €150,988 to €171,656
- Tangible fixed assets -€15,306
down €15,306 (-18.0%), from €85,003 to €69,698
of which Other tangible fixed assets: -€16,068
- Short-term financial debts +€184,716
up €184,716 (+64,926%), from €285 to €185,000
- Debts after one year -€134,467
down €134,467 (-83.8%), from €160,537 to €26,070
- Trade debts +€55,333
up €55,333 (+22.0%), from €251,613 to €306,946
- Tax, wage and social debts +€26,065
up €26,065 (+55.3%), from €47,134 to €73,200
of which Remuneration and social security: +€16,489
- Profit (loss) carried forward +€25,881
up €25,881 (+112%), from €23,106 to €48,987
- Staff costs +€52,446
up €52,446 (+9.6%), from €548,658 to €601,104
- Gross operating margin -€17,696
down €17,696 (-2.4%), from €748,072 to €730,376
- Financial charges +€15,827
up €15,827 (+113%), from €13,945 to €29,772
- Taxes -€7,960
down €7,960 (-22.1%), from €35,971 to €28,011
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €658,028 | €808,854 | +€150,826 | +22.9% |
| Fixed assets | 21/28 | €85,003 | €69,698 | -€15,306 | -18.0% |
| Tangible fixed assets | 22/27 | €85,003 | €69,698 | -€15,306 | -18.0% |
| Plant, machinery and equipment | 23 | €14,262 | €4,214 | -€10,048 | -70.5% |
| Furniture and vehicles | 24 | €40,105 | €50,915 | +€10,810 | +27.0% |
| Other tangible fixed assets | 26 | €30,637 | €14,569 | -€16,068 | -52.4% |
| Current assets | 29/58 | €573,024 | €739,156 | +€166,132 | +29.0% |
| Stocks and contracts in progress | 3 | €150,988 | €171,656 | +€20,668 | +13.7% |
| Stocks | 30/36 | €150,988 | €171,656 | +€20,668 | +13.7% |
| Amounts receivable within one year | 40/41 | €269,028 | €458,103 | +€189,075 | +70.3% |
| Trade receivables | 40 | €254,188 | €425,073 | +€170,884 | +67.2% |
| Other amounts receivable | 41 | €14,840 | €33,030 | +€18,191 | +123% |
| Cash at bank and in hand | 54/58 | €139,767 | €94,601 | -€45,166 | -32.3% |
| Deferred charges and accrued income | 490/1 | €13,241 | €14,796 | +€1,555 | +11.7% |
| Total equity and liabilities | 10/49 | €658,028 | €808,854 | +€150,826 | +22.9% |
| Equity | 10/15 | €161,241 | €187,122 | +€25,881 | +16.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €119,535 | €119,535 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €117,675 | €117,675 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,106 | €48,987 | +€25,881 | +112% |
| Amounts payable | 17/49 | €496,787 | €621,732 | +€124,945 | +25.2% |
| Amounts payable after more than one year | 17 | €160,537 | €26,070 | -€134,467 | -83.8% |
| Financial debts | 170/4 | €160,537 | €26,070 | -€134,467 | -83.8% |
| Amounts payable within one year | 42/48 | €336,250 | €595,663 | +€259,413 | +77.1% |
| Current portion of amounts payable after more than one year | 42 | €32,237 | €30,206 | -€2,031 | -6.3% |
| Financial debts | 43 | €285 | €185,000 | +€184,716 | +64,926% |
| Other loans | 439 | €285 | €185,000 | +€184,716 | +64,926% |
| Trade debts | 44 | €251,613 | €306,946 | +€55,333 | +22.0% |
| Suppliers | 440/4 | €251,613 | €306,946 | +€55,333 | +22.0% |
| Taxes, remuneration and social security | 45 | €47,134 | €73,200 | +€26,065 | +55.3% |
| Taxes | 450/3 | €42,261 | €51,837 | +€9,576 | +22.7% |
| Remuneration and social security | 454/9 | €4,873 | €21,362 | +€16,489 | +338% |
| Other amounts payable | 47/48 | €4,981 | €311 | -€4,670 | -93.8% |
| Remuneration, social security and pensions | 62 | €548,658 | €601,104 | +€52,446 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,833 | €43,094 | +€261 | +0.6% |
| Other operating charges | 640/8 | €2,202 | €2,684 | +€482 | +21.9% |
| Gross operating margin | 9900 | €748,072 | €730,376 | -€17,696 | -2.4% |
| Operating profit (loss) | 9901 | €154,379 | €83,494 | -€70,885 | -45.9% |
| Financial income | 75/76B | €128 | €170 | +€43 | +33.3% |
| Recurring financial income | 75 | €128 | €170 | +€43 | +33.3% |
| Financial charges | 65/66B | €13,945 | €29,772 | +€15,827 | +113% |
| Recurring financial charges | 65 | €13,945 | €29,772 | +€15,827 | +113% |
| Profit (loss) for the period before taxes | 9903 | €140,562 | €53,892 | -€86,670 | -61.7% |
| Income taxes | 67/77 | €35,971 | €28,011 | -€7,960 | -22.1% |
| Profit (loss) for the period | 9904 | €104,591 | €25,881 | -€78,710 | -75.3% |
| Profit (loss) for the period to be appropriated | 9905 | €104,591 | €25,881 | -€78,710 | -75.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.