PASS & PARTNERS: 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.
PASS & PARTNERS
Largest movements
- Receivables within one year +€136,534
up €136,534 (+110.0%), from €124,156 to €260,690
of which Other amounts receivable: +€136,534
- Current investments -€125,000
down €125,000 (-100.0%), from €125,000 to €0
- Cash +€100,010
up €100,010 (+176.6%), from €56,637 to €156,647
mainly Current investments (+€125,000) and Receivables after one year (+€100,000)
- Receivables after one year -€100,000
down €100,000 (-21.5%), from €465,000 to €365,000
- Reserves +€69,228
up €69,228 (+10.6%), from €650,190 to €719,419
of which Distributable reserves: +€69,228
- Tax, wage and social debts -€67,254
down €67,254 (-90.7%), from €74,177 to €6,923
- Short-term financial debts +€8,634
up €8,634 (+2360.7%), from €366 to €9,000
of which Other loans: +€9,000
- Gross operating margin +€55,995
up €55,995 (+132.9%), from €42,119 to €98,114
- Financial income -€49,940
down €49,940 (-70.4%), from €70,948 to €21,008
of which Non-recurring financial income: -€47,013
- Taxes +€8,407
up €8,407 (+40.0%), from €21,026 to €29,433
- Financial charges -€4,002
down €4,002 (-70.2%), from €5,696 to €1,695
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 | €846,702 | €858,626 | +€11,923 | +1.4% |
| Fixed assets | 21/28 | €61,051 | €58,618 | -€2,433 | -4.0% |
| Tangible fixed assets | 22/27 | €56,551 | €54,118 | -€2,433 | -4.3% |
| Plant, machinery and equipment | 23 | €1,895 | €1,595 | -€300 | -15.8% |
| Furniture and vehicles | 24 | €29,647 | €17,675 | -€11,972 | -40.4% |
| Other tangible fixed assets | 26 | €25,009 | €34,848 | +€9,840 | +39.3% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €785,652 | €800,008 | +€14,356 | +1.8% |
| Amounts receivable after more than one year | 29 | €465,000 | €365,000 | -€100,000 | -21.5% |
| Other amounts receivable | 291 | €465,000 | €365,000 | -€100,000 | -21.5% |
| Amounts receivable within one year | 40/41 | €124,156 | €260,690 | +€136,534 | +110.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €124,156 | €260,690 | +€136,534 | +110.0% |
| Current investments | 50/53 | €125,000 | €0 | -€125,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €56,637 | €156,647 | +€100,010 | +176.6% |
| Deferred charges and accrued income | 490/1 | €14,859 | €17,671 | +€2,812 | +18.9% |
| Total equity and liabilities | 10/49 | €846,702 | €858,626 | +€11,923 | +1.4% |
| Equity | 10/15 | €770,863 | €840,092 | +€69,228 | +9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €650,190 | €719,419 | +€69,228 | +10.6% |
| Non-distributable reserves | 130/1 | €2,400 | €2,400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,400 | €2,400 | = | 0.0% |
| Distributable reserves | 133 | €647,790 | €717,019 | +€69,228 | +10.7% |
| Profit (loss) carried forward | 14 | €102,073 | €102,073 | = | 0.0% |
| Amounts payable | 17/49 | €75,839 | €18,534 | -€57,305 | -75.6% |
| Amounts payable within one year | 42/48 | €75,738 | €18,534 | -€57,205 | -75.5% |
| Financial debts | 43 | €366 | €9,000 | +€8,634 | +2360.7% |
| Credit institutions | 430/8 | €366 | €0 | -€366 | -100.0% |
| Other loans | 439 | - | €9,000 | +€9,000 | |
| Trade debts | 44 | €443 | €2,611 | +€2,168 | +489.6% |
| Suppliers | 440/4 | €443 | €2,611 | +€2,168 | +489.6% |
| Taxes, remuneration and social security | 45 | €74,177 | €6,923 | -€67,254 | -90.7% |
| Taxes | 450/3 | €74,177 | €6,923 | -€67,254 | -90.7% |
| Other amounts payable | 47/48 | €753 | €0 | -€753 | -100.0% |
| Accrued charges and deferred income | 492/3 | €100 | €0 | -€100 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,343 | €17,958 | +€616 | +3.5% |
| Other operating charges | 640/8 | €967 | €807 | -€160 | -16.5% |
| Gross operating margin | 9900 | €42,119 | €98,114 | +€55,995 | +132.9% |
| Operating profit (loss) | 9901 | €23,809 | €79,348 | +€55,539 | +233.3% |
| Financial income | 75/76B | €70,948 | €21,008 | -€49,940 | -70.4% |
| Recurring financial income | 75 | €23,935 | €21,008 | -€2,927 | -12.2% |
| Non-recurring financial income | 76B | €47,013 | €0 | -€47,013 | -100.0% |
| Financial charges | 65/66B | €5,696 | €1,695 | -€4,002 | -70.2% |
| Recurring financial charges | 65 | €5,696 | €1,695 | -€4,002 | -70.2% |
| Profit (loss) for the period before taxes | 9903 | €89,061 | €98,661 | +€9,600 | +10.8% |
| Income taxes | 67/77 | €21,026 | €29,433 | +€8,407 | +40.0% |
| Profit (loss) for the period | 9904 | €68,035 | €69,228 | +€1,194 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €68,035 | €69,228 | +€1,194 | +1.8% |
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 12 October 2026 via checked.be.