Passetto: what changed
Two fiscal 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.
Passetto
Largest movements
- Cash +€74,884
up €74,884 (+56.6%), from €132,262 to €207,146
mainly Net result for the year (+€75,262) and Depreciation (+€11,084)
- Tangible fixed assets -€9,050
down €9,050 (-28.8%), from €31,417 to €22,367
of which Furniture and vehicles: -€11,065
- Reserves +€75,262
up €75,262 (+57.5%), from €130,794 to €206,056
- Debts after one year -€11,966
down €11,966 (-92.1%), from €12,986 to €1,021
- Trade debts +€2,383
up €2,383 (+236.1%), from €1,009 to €3,393
- Gross operating margin +€12,070
up €12,070 (+12.7%), from €95,309 to €107,379
- Taxes +€2,244
up €2,244 (+13.0%), from €17,267 to €19,511
- Depreciation +€1,213
up €1,213 (+12.3%), from €9,871 to €11,084
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 | €168,121 | €236,486 | +€68,365 | +40.7% |
| Fixed assets | 21/28 | €31,417 | €22,367 | -€9,050 | -28.8% |
| Tangible fixed assets | 22/27 | €31,417 | €22,367 | -€9,050 | -28.8% |
| Furniture and vehicles | 24 | €31,417 | €20,352 | -€11,065 | -35.2% |
| Assets under construction and advance payments | 27 | - | €2,015 | +€2,015 | |
| Current assets | 29/58 | €136,704 | €214,119 | +€77,416 | +56.6% |
| Amounts receivable within one year | 40/41 | €2,733 | €3,398 | +€665 | +24.3% |
| Trade receivables | 40 | - | €177 | +€177 | |
| Other amounts receivable | 41 | €2,733 | €3,221 | +€489 | +17.9% |
| Cash at bank and in hand | 54/58 | €132,262 | €207,146 | +€74,884 | +56.6% |
| Deferred charges and accrued income | 490/1 | €1,709 | €3,575 | +€1,866 | +109.2% |
| Total equity and liabilities | 10/49 | €168,121 | €236,486 | +€68,365 | +40.7% |
| Equity | 10/15 | €133,294 | €208,556 | +€75,262 | +56.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €130,794 | €206,056 | +€75,262 | +57.5% |
| Distributable reserves | 133 | €130,794 | €206,056 | +€75,262 | +57.5% |
| Amounts payable | 17/49 | €34,827 | €27,931 | -€6,896 | -19.8% |
| Amounts payable after more than one year | 17 | €12,986 | €1,021 | -€11,966 | -92.1% |
| Financial debts | 170/4 | €12,986 | €1,021 | -€11,966 | -92.1% |
| Amounts payable within one year | 42/48 | €21,841 | €26,910 | +€5,069 | +23.2% |
| Current portion of amounts payable after more than one year | 42 | €11,457 | €11,966 | +€509 | +4.4% |
| Trade debts | 44 | €1,009 | €3,393 | +€2,383 | +236.1% |
| Suppliers | 440/4 | €1,009 | €3,393 | +€2,383 | +236.1% |
| Taxes, remuneration and social security | 45 | €7,168 | €7,510 | +€342 | +4.8% |
| Taxes | 450/3 | €7,168 | €7,510 | +€342 | +4.8% |
| Other amounts payable | 47/48 | €2,207 | €4,042 | +€1,835 | +83.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,871 | €11,084 | +€1,213 | +12.3% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €95,309 | €107,379 | +€12,070 | +12.7% |
| Operating profit (loss) | 9901 | €84,933 | €95,776 | +€10,843 | +12.8% |
| Financial charges | 65/66B | €1,489 | €1,003 | -€487 | -32.7% |
| Recurring financial charges | 65 | €1,489 | €1,003 | -€487 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | €83,443 | €94,773 | +€11,330 | +13.6% |
| Income taxes | 67/77 | €17,267 | €19,511 | +€2,244 | +13.0% |
| Profit (loss) for the period | 9904 | €66,176 | €75,262 | +€9,086 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €66,176 | €75,262 | +€9,086 | +13.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.