PASSIM GROUP: 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.
PASSIM GROUP
Largest movements
- Cash +€125,349
up €125,349 (+171.5%), from €73,093 to €198,442
mainly Depreciation (+€66,355) and Investment in fixed assets (net) (+€44,629)
- Financial fixed assets -€110,036
down €110,036 (-76.5%), from €143,763 to €33,727
- Current investments -€25,000
no longer reported in 2025 (was €25,000)
- Profit (loss) carried forward -€92,536
down €92,536 (-78.4%), from -€117,986 to -€210,521
- Reserves +€81,646
up €81,646 (+9.4%), from €869,725 to €951,371
of which Tax-exempt reserves: +€81,646
- Provisions +€30,411
up €30,411 (+31.5%), from €96,501 to €126,912
of which Deferred taxes: +€26,661
- Current portion of long-term debt -€16,524
down €16,524 (-28.2%), from €58,687 to €42,162
- Gross operating margin +€96,974
up €96,974 (+222.7%), from €43,547 to €140,521
- Taxes -€20,678
down €20,678 (-63.5%), from €32,573 to €11,894
- Financial charges -€9,040
down €9,040 (-31.7%), from €28,544 to €19,504
- Depreciation +€4,692
up €4,692 (+7.6%), from €61,662 to €66,355
- Provisions +€3,750
new in 2025: €3,750
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 | €1,612,376 | €1,600,084 | -€12,293 | -0.8% |
| Fixed assets | 21/28 | €1,484,311 | €1,373,328 | -€110,984 | -7.5% |
| Tangible fixed assets | 22/27 | €1,340,548 | €1,339,601 | -€947 | -0.1% |
| Land and buildings | 22 | €1,334,212 | €1,334,823 | +€611 | 0.0% |
| Furniture and vehicles | 24 | €6,336 | €4,777 | -€1,559 | -24.6% |
| Financial fixed assets | 28 | €143,763 | €33,727 | -€110,036 | -76.5% |
| Current assets | 29/58 | €128,065 | €226,756 | +€98,691 | +77.1% |
| Amounts receivable within one year | 40/41 | €11,170 | €7,766 | -€3,404 | -30.5% |
| Trade receivables | 40 | €3,724 | €2,767 | -€957 | -25.7% |
| Other amounts receivable | 41 | €7,446 | €4,999 | -€2,447 | -32.9% |
| Current investments | 50/53 | €25,000 | - | -€25,000 | |
| Cash at bank and in hand | 54/58 | €73,093 | €198,442 | +€125,349 | +171.5% |
| Deferred charges and accrued income | 490/1 | €18,802 | €20,547 | +€1,745 | +9.3% |
| Total equity and liabilities | 10/49 | €1,612,376 | €1,600,084 | -€12,293 | -0.8% |
| Equity | 10/15 | €941,595 | €930,705 | -€10,890 | -1.2% |
| Contributions | 10/11 | €189,346 | €189,346 | = | 0.0% |
| Capital | 10 | €189,346 | €189,346 | = | 0.0% |
| Issued capital | 100 | €189,346 | €189,346 | = | 0.0% |
| Reserves | 13 | €869,725 | €951,371 | +€81,646 | +9.4% |
| Non-distributable reserves | 130/1 | €54,015 | €54,015 | = | 0.0% |
| Legal reserve | 130 | €54,015 | €54,015 | = | 0.0% |
| Tax-exempt reserves | 132 | €238,343 | €319,989 | +€81,646 | +34.3% |
| Distributable reserves | 133 | €577,367 | €577,367 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€117,986 | -€210,521 | -€92,536 | -78.4% |
| Investment grants | 15 | €509 | €509 | = | 0.0% |
| Provisions and deferred taxes | 16 | €96,501 | €126,912 | +€30,411 | +31.5% |
| Provisions for liabilities and charges | 160/5 | - | €3,750 | +€3,750 | |
| Other liabilities and charges | 164/5 | - | €3,750 | +€3,750 | |
| Deferred taxes | 168 | €96,501 | €123,162 | +€26,661 | +27.6% |
| Amounts payable | 17/49 | €574,281 | €542,466 | -€31,814 | -5.5% |
| Amounts payable after more than one year | 17 | €463,174 | €472,795 | +€9,621 | +2.1% |
| Financial debts | 170/4 | €463,174 | €472,795 | +€9,621 | +2.1% |
| Amounts payable within one year | 42/48 | €109,531 | €66,760 | -€42,771 | -39.0% |
| Current portion of amounts payable after more than one year | 42 | €58,687 | €42,162 | -€16,524 | -28.2% |
| Trade debts | 44 | €12,944 | €2,507 | -€10,437 | -80.6% |
| Suppliers | 440/4 | €12,944 | €2,507 | -€10,437 | -80.6% |
| Taxes, remuneration and social security | 45 | €11,042 | €2,852 | -€8,190 | -74.2% |
| Taxes | 450/3 | €11,042 | €2,852 | -€8,190 | -74.2% |
| Other amounts payable | 47/48 | €26,859 | €19,239 | -€7,619 | -28.4% |
| Accrued charges and deferred income | 492/3 | €1,575 | €2,911 | +€1,336 | +84.8% |
| Non-recurring operating income | 76A | €2,334 | €119,003 | +€116,669 | +4998.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,662 | €66,355 | +€4,692 | +7.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €3,750 | +€3,750 | |
| Other operating charges | 640/8 | €20,948 | €23,646 | +€2,698 | +12.9% |
| Gross operating margin | 9900 | €43,547 | €140,521 | +€96,974 | +222.7% |
| Operating profit (loss) | 9901 | -€39,064 | €46,770 | +€85,834 | |
| Financial income | 75/76B | €1,108 | €400 | -€709 | -64.0% |
| Recurring financial income | 75 | €1,108 | €400 | -€709 | -64.0% |
| Financial charges | 65/66B | €28,544 | €19,504 | -€9,040 | -31.7% |
| Recurring financial charges | 65 | €28,544 | €19,504 | -€9,040 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | -€66,500 | €27,666 | +€94,165 | |
| Transfer from deferred taxes | 780 | €68,657 | €3,089 | -€65,568 | -95.5% |
| Transfer to deferred taxes | 680 | - | €29,751 | +€29,751 | |
| Income taxes | 67/77 | €32,573 | €11,894 | -€20,678 | -63.5% |
| Profit (loss) for the period | 9904 | -€30,415 | -€10,890 | +€19,525 | +64.2% |
| Transfer from tax-exempt reserves | 789 | €168,091 | €7,607 | -€160,485 | -95.5% |
| Transfer to tax-exempt reserves | 689 | - | €89,252 | +€89,252 | |
| Profit (loss) for the period to be appropriated | 9905 | €137,676 | -€92,536 | -€230,212 |
Source: filed annual accounts (NBB), fiscal years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.