Pasval: 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.
Pasval
Largest movements
- Tangible fixed assets +€13,146
up €13,146 (+153%), from €8,620 to €21,766
of which Plant, machinery and equipment: +€10,836
- Cash -€4,827
down €4,827 (-15.1%), from €32,047 to €27,220
mainly Investment in fixed assets (net) (-€18,478) and Trade debts (-€852)
- Intangible fixed assets -€3,000
down €3,000 (-34.8%), from €8,625 to €5,625
- Receivables within one year -€954
down €954 (-17.2%), from €5,533 to €4,579
of which Trade receivables: -€1,602
- Profit (loss) carried forward +€5,320
up €5,320 (+14.3%), from €37,294 to €42,614
- Trade debts -€852
down €852 (-16.7%), from €5,114 to €4,262
- Gross operating margin +€17,184
up €17,184, from -€1,332 to €15,852
- Depreciation +€1,662
up €1,662 (+24.9%), from €6,670 to €8,332
- Staff costs -€370
down €370 (-87.3%), from €424 to €54
- Financial charges +€345
up €345 (+74.4%), from €464 to €809
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 | €54,825 | €59,190 | +€4,365 | +8.0% |
| Fixed assets | 21/28 | €17,245 | €27,391 | +€10,146 | +58.8% |
| Intangible fixed assets | 21 | €8,625 | €5,625 | -€3,000 | -34.8% |
| Tangible fixed assets | 22/27 | €8,620 | €21,766 | +€13,146 | +153% |
| Land and buildings | 22 | - | €1,780 | +€1,780 | |
| Plant, machinery and equipment | 23 | €4,806 | €15,642 | +€10,836 | +225% |
| Furniture and vehicles | 24 | €3,814 | €4,344 | +€530 | +13.9% |
| Current assets | 29/58 | €37,580 | €31,799 | -€5,781 | -15.4% |
| Amounts receivable within one year | 40/41 | €5,533 | €4,579 | -€954 | -17.2% |
| Trade receivables | 40 | €2,363 | €761 | -€1,602 | -67.8% |
| Other amounts receivable | 41 | €3,170 | €3,818 | +€648 | +20.4% |
| Cash at bank and in hand | 54/58 | €32,047 | €27,220 | -€4,827 | -15.1% |
| Total equity and liabilities | 10/49 | €54,825 | €59,190 | +€4,365 | +8.0% |
| Equity | 10/15 | €45,354 | €50,674 | +€5,320 | +11.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,294 | €42,614 | +€5,320 | +14.3% |
| Amounts payable | 17/49 | €9,471 | €8,516 | -€955 | -10.1% |
| Amounts payable within one year | 42/48 | €9,471 | €8,406 | -€1,065 | -11.2% |
| Trade debts | 44 | €5,114 | €4,262 | -€852 | -16.7% |
| Suppliers | 440/4 | €5,114 | €4,262 | -€852 | -16.7% |
| Taxes, remuneration and social security | 45 | €4,357 | €4,144 | -€213 | -4.9% |
| Taxes | 450/3 | €216 | - | -€216 | |
| Remuneration and social security | 454/9 | €4,141 | €4,144 | +€3 | +0.1% |
| Accrued charges and deferred income | 492/3 | - | €110 | +€110 | |
| Remuneration, social security and pensions | 62 | €424 | €54 | -€370 | -87.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,670 | €8,332 | +€1,662 | +24.9% |
| Other operating charges | 640/8 | €1,236 | €1,371 | +€135 | +10.9% |
| Gross operating margin | 9900 | -€1,332 | €15,852 | +€17,184 | |
| Operating profit (loss) | 9901 | -€9,662 | €6,095 | +€15,757 | |
| Financial income | 75/76B | €3 | €34 | +€31 | +1,033% |
| Recurring financial income | 75 | €3 | €34 | +€31 | +1,033% |
| Financial charges | 65/66B | €464 | €809 | +€345 | +74.4% |
| Recurring financial charges | 65 | €464 | €809 | +€345 | +74.4% |
| Profit (loss) for the period before taxes | 9903 | -€10,123 | €5,320 | +€15,443 | |
| Profit (loss) for the period | 9904 | -€10,123 | €5,320 | +€15,443 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,123 | €5,320 | +€15,443 |
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 18 October 2026 via checked.be.