PASUJO: 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.
PASUJO
Largest movements
- Receivables within one year +€64,494
up €64,494 (+127.1%), from €50,729 to €115,223
of which Other amounts receivable: +€55,292
- Tangible fixed assets +€32,182
up €32,182 (+584.7%), from €5,504 to €37,687
of which Leasing and similar rights: +€31,223
- Cash -€23,431
down €23,431 (-84.6%), from €27,709 to €4,278
mainly Receivables within one year (-€64,494) and Investment in fixed assets (net) (-€42,413)
- Deferred charges and accrued income +€6,585
up €6,585 (+180.8%), from €3,641 to €10,226
- Other debts +€50,191
up €50,191 (+187.5%), from €26,762 to €76,953
- Debts after one year +€24,322
new in 2025: €24,322
- Current portion of long-term debt +€8,073
new in 2025: €8,073
- Tax, wage and social debts -€4,438
down €4,438 (-37.9%), from €11,709 to €7,270
of which Remuneration and social security: -€2,500
- Gross operating margin -€29,167
down €29,167 (-74.8%), from €38,972 to €9,805
- Taxes -€10,080
down €10,080 (-89.5%), from €11,264 to €1,184
- Depreciation +€8,169
up €8,169 (+396.3%), from €2,061 to €10,230
- Financial income +€1,341
up €1,341 (+39.0%), from €3,435 to €4,776
- Financial charges +€656
up €656 (+26.3%), from €2,493 to €3,149
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 | €252,328 | €332,157 | +€79,830 | +31.6% |
| Fixed assets | 21/28 | €156,804 | €188,987 | +€32,182 | +20.5% |
| Tangible fixed assets | 22/27 | €5,504 | €37,687 | +€32,182 | +584.7% |
| Furniture and vehicles | 24 | €5,504 | €4,640 | -€864 | -15.7% |
| Leasing and similar rights | 25 | - | €31,223 | +€31,223 | |
| Other tangible fixed assets | 26 | - | €1,824 | +€1,824 | |
| Financial fixed assets | 28 | €151,300 | €151,300 | = | 0.0% |
| Current assets | 29/58 | €95,523 | €143,170 | +€47,647 | +49.9% |
| Amounts receivable after more than one year | 29 | €13,443 | €13,443 | = | 0.0% |
| Trade receivables | 290 | €13,443 | €13,443 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €50,729 | €115,223 | +€64,494 | +127.1% |
| Trade receivables | 40 | €10,285 | €19,487 | +€9,202 | +89.5% |
| Other amounts receivable | 41 | €40,444 | €95,736 | +€55,292 | +136.7% |
| Cash at bank and in hand | 54/58 | €27,709 | €4,278 | -€23,431 | -84.6% |
| Deferred charges and accrued income | 490/1 | €3,641 | €10,226 | +€6,585 | +180.8% |
| Total equity and liabilities | 10/49 | €252,328 | €332,157 | +€79,830 | +31.6% |
| Equity | 10/15 | €209,716 | €208,177 | -€1,539 | -0.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €65,000 | €65,000 | = | 0.0% |
| Distributable reserves | 133 | €65,000 | €65,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €126,116 | €124,577 | -€1,539 | -1.2% |
| Amounts payable | 17/49 | €42,611 | €123,980 | +€81,369 | +191.0% |
| Amounts payable after more than one year | 17 | - | €24,322 | +€24,322 | |
| Financial debts | 170/4 | - | €24,322 | +€24,322 | |
| Amounts payable within one year | 42/48 | €41,176 | €97,894 | +€56,717 | +137.7% |
| Current portion of amounts payable after more than one year | 42 | - | €8,073 | +€8,073 | |
| Trade debts | 44 | €2,705 | €5,597 | +€2,892 | +106.9% |
| Suppliers | 440/4 | €2,705 | €5,597 | +€2,892 | +106.9% |
| Taxes, remuneration and social security | 45 | €11,709 | €7,270 | -€4,438 | -37.9% |
| Taxes | 450/3 | €9,209 | €7,270 | -€1,938 | -21.0% |
| Remuneration and social security | 454/9 | €2,500 | €0 | -€2,500 | -100.0% |
| Other amounts payable | 47/48 | €26,762 | €76,953 | +€50,191 | +187.5% |
| Accrued charges and deferred income | 492/3 | €1,435 | €1,765 | +€330 | +23.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,061 | €10,230 | +€8,169 | +396.3% |
| Other operating charges | 640/8 | €1,218 | €1,556 | +€338 | +27.8% |
| Gross operating margin | 9900 | €38,972 | €9,805 | -€29,167 | -74.8% |
| Operating profit (loss) | 9901 | €35,692 | -€1,982 | -€37,674 | |
| Financial income | 75/76B | €3,435 | €4,776 | +€1,341 | +39.0% |
| Recurring financial income | 75 | €3,435 | €4,776 | +€1,341 | +39.0% |
| Financial charges | 65/66B | €2,493 | €3,149 | +€656 | +26.3% |
| Recurring financial charges | 65 | €2,493 | €3,149 | +€656 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | €36,634 | -€355 | -€36,989 | |
| Income taxes | 67/77 | €11,264 | €1,184 | -€10,080 | -89.5% |
| Profit (loss) for the period | 9904 | €25,370 | -€1,539 | -€26,910 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,370 | -€1,539 | -€26,910 |
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 3 October 2026 via checked.be.