PASSARD: 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.
PASSARD
Largest movements
- Receivables after one year +€23,140
new in 2025: €23,140
- Receivables within one year +€4,620
up €4,620 (+29.3%), from €15,743 to €20,363
of which Trade receivables: +€7,620
- Tangible fixed assets -€1,394
down €1,394 (-66.0%), from €2,112 to €718
of which Plant, machinery and equipment: -€1,130
- Cash -€1,124
down €1,124 (-48.9%), from €2,300 to €1,176
mainly Receivables after one year (-€23,140) and Contributions, distributions and other (-€15,000)
- Profit (loss) carried forward +€16,630
up €16,630 (+674.7%), from €2,465 to €19,095
- Tax, wage and social debts +€6,668
up €6,668 (+490.5%), from €1,359 to €8,027
- Other debts +€2,243
up €2,243 (+17.2%), from €13,014 to €15,257
- Write-downs -€50,000
no longer reported in 2025 (was €50,000)
- Gross operating margin +€7,841
up €7,841 (+28.5%), from €27,517 to €35,357
- Taxes +€1,845
up €1,845 (+971100.0%), from €0 to €1,845
- Financial charges -€936
down €936 (-80.0%), from €1,169 to €233
- Financial income +€890
new in 2025: €890
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 | €20,154 | €45,396 | +€25,242 | +125.2% |
| Fixed assets | 21/28 | €2,112 | €718 | -€1,394 | -66.0% |
| Tangible fixed assets | 22/27 | €2,112 | €718 | -€1,394 | -66.0% |
| Plant, machinery and equipment | 23 | €1,665 | €535 | -€1,130 | -67.9% |
| Furniture and vehicles | 24 | €446 | €183 | -€264 | -59.0% |
| Current assets | 29/58 | €18,043 | €44,678 | +€26,636 | +147.6% |
| Amounts receivable after more than one year | 29 | - | €23,140 | +€23,140 | |
| Other amounts receivable | 291 | - | €23,140 | +€23,140 | |
| Amounts receivable within one year | 40/41 | €15,743 | €20,363 | +€4,620 | +29.3% |
| Trade receivables | 40 | €12,743 | €20,363 | +€7,620 | +59.8% |
| Other amounts receivable | 41 | €3,000 | - | -€3,000 | |
| Cash at bank and in hand | 54/58 | €2,300 | €1,176 | -€1,124 | -48.9% |
| Total equity and liabilities | 10/49 | €20,154 | €45,396 | +€25,242 | +125.2% |
| Equity | 10/15 | €4,465 | €21,095 | +€16,630 | +372.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,465 | €19,095 | +€16,630 | +674.7% |
| Amounts payable | 17/49 | €15,690 | €24,301 | +€8,612 | +54.9% |
| Amounts payable within one year | 42/48 | €15,690 | €24,301 | +€8,612 | +54.9% |
| Trade debts | 44 | €1,316 | €1,018 | -€299 | -22.7% |
| Suppliers | 440/4 | €1,316 | €1,018 | -€299 | -22.7% |
| Taxes, remuneration and social security | 45 | €1,359 | €8,027 | +€6,668 | +490.5% |
| Taxes | 450/3 | €1,359 | €8,027 | +€6,668 | +490.5% |
| Other amounts payable | 47/48 | €13,014 | €15,257 | +€2,243 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,902 | €1,837 | -€66 | -3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €50,000 | - | -€50,000 | |
| Other operating charges | 640/8 | €1,264 | €702 | -€562 | -44.5% |
| Gross operating margin | 9900 | €27,517 | €35,357 | +€7,841 | +28.5% |
| Operating profit (loss) | 9901 | -€25,650 | €32,819 | +€58,469 | |
| Financial income | 75/76B | - | €890 | +€890 | |
| Recurring financial income | 75 | - | €890 | +€890 | |
| Financial charges | 65/66B | €1,169 | €233 | -€936 | -80.0% |
| Recurring financial charges | 65 | €1,169 | €233 | -€936 | -80.0% |
| Profit (loss) for the period before taxes | 9903 | -€26,819 | €33,475 | +€60,295 | |
| Income taxes | 67/77 | €0 | €1,845 | +€1,845 | +971100.0% |
| Profit (loss) for the period | 9904 | -€26,820 | €31,630 | +€58,450 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,820 | €31,630 | +€58,450 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.