PASSAAT: 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.
PASSAAT
Largest movements
- Cash +€199,805
up €199,805 (+2,103%), from €9,503 to €209,308
mainly Receivables within one year (+€149,169) and Other debts (+€112,300)
- Receivables within one year -€149,169
down €149,169 (-76.2%), from €195,696 to €46,527
of which Other amounts receivable: -€163,689
- Tangible fixed assets -€14,805
down €14,805 (-81.2%), from €18,237 to €3,432
of which Land and buildings: -€15,457
- Other debts +€112,300
new in 2025: €112,300
- Reserves -€82,300
down €82,300 (-44.7%), from €184,160 to €101,860
of which Distributable reserves: -€82,300
- Tax, wage and social debts +€6,219
up €6,219 (+57.1%), from €10,890 to €17,109
- Gross operating margin +€14,669
up €14,669 (+53.9%), from €27,194 to €41,863
- Depreciation -€9,050
down €9,050 (-36.1%), from €25,072 to €16,022
- Other operating charges -€1,336
down €1,336 (-72.7%), from €1,837 to €501
- Financial charges +€1,020
up €1,020 (+483%), from €211 to €1,232
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.
Derived cash bridge
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 | €223,436 | €259,267 | +€35,831 | +16.0% |
| Fixed assets | 21/28 | €18,237 | €3,432 | -€14,805 | -81.2% |
| Tangible fixed assets | 22/27 | €18,237 | €3,432 | -€14,805 | -81.2% |
| Land and buildings | 22 | €16,892 | €1,435 | -€15,457 | -91.5% |
| Furniture and vehicles | 24 | €1,345 | - | -€1,345 | |
| Leasing and similar rights | 25 | - | €1,997 | +€1,997 | |
| Current assets | 29/58 | €205,198 | €255,835 | +€50,636 | +24.7% |
| Amounts receivable within one year | 40/41 | €195,696 | €46,527 | -€149,169 | -76.2% |
| Trade receivables | 40 | €10,890 | €25,410 | +€14,520 | +133% |
| Other amounts receivable | 41 | €184,806 | €21,117 | -€163,689 | -88.6% |
| Cash at bank and in hand | 54/58 | €9,503 | €209,308 | +€199,805 | +2,103% |
| Total equity and liabilities | 10/49 | €223,436 | €259,267 | +€35,831 | +16.0% |
| Equity | 10/15 | €204,124 | €120,712 | -€83,412 | -40.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €184,160 | €101,860 | -€82,300 | -44.7% |
| 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 | €182,300 | €100,000 | -€82,300 | -45.1% |
| Profit (loss) carried forward | 14 | €1,364 | €252 | -€1,112 | -81.5% |
| Amounts payable | 17/49 | €19,312 | €138,555 | +€119,243 | +617% |
| Amounts payable within one year | 42/48 | €19,312 | €138,555 | +€119,243 | +617% |
| Trade debts | 44 | €8,422 | €9,146 | +€724 | +8.6% |
| Suppliers | 440/4 | €8,422 | €9,146 | +€724 | +8.6% |
| Taxes, remuneration and social security | 45 | €10,890 | €17,109 | +€6,219 | +57.1% |
| Taxes | 450/3 | €10,890 | €17,109 | +€6,219 | +57.1% |
| Other amounts payable | 47/48 | - | €112,300 | +€112,300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,072 | €16,022 | -€9,050 | -36.1% |
| Other operating charges | 640/8 | €1,837 | €501 | -€1,336 | -72.7% |
| Gross operating margin | 9900 | €27,194 | €41,863 | +€14,669 | +53.9% |
| Operating profit (loss) | 9901 | €285 | €25,340 | +€25,055 | +8,798% |
| Financial income | 75/76B | €4,576 | €4,890 | +€314 | +6.9% |
| Recurring financial income | 75 | €4,576 | €4,890 | +€314 | +6.9% |
| Financial charges | 65/66B | €211 | €1,232 | +€1,020 | +483% |
| Recurring financial charges | 65 | €211 | €1,232 | +€1,020 | +483% |
| Profit (loss) for the period before taxes | 9903 | €4,650 | €28,999 | +€24,349 | +524% |
| Income taxes | 67/77 | €210 | €111 | -€100 | -47.4% |
| Profit (loss) for the period | 9904 | €4,439 | €28,888 | +€24,448 | +551% |
| Profit (loss) for the period to be appropriated | 9905 | €4,439 | €28,888 | +€24,448 | +551% |
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 30 October 2026 via checked.be.