PATGICO: 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.
PATGICO
Largest movements
- Cash -€20,632
down €20,632 (-35.6%), from €57,952 to €37,319
mainly Receivables within one year (-€19,711) and Trade debts (-€13,158)
- Receivables within one year +€19,711
up €19,711 (+55.8%), from €35,315 to €55,027
of which Trade receivables: +€29,630
- Tangible fixed assets -€16,561
down €16,561 (-13.9%), from €118,916 to €102,355
of which Furniture and vehicles: -€20,091
- Deferred charges and accrued income -€3,503
down €3,503 (-98.0%), from €3,574 to €71
- Trade debts -€13,158
down €13,158 (-94.3%), from €13,949 to €792
- Debts after one year -€12,166
down €12,166 (-59.1%), from €20,572 to €8,406
- Reserves +€8,147
up €8,147 (+8.0%), from €102,193 to €110,340
- Other debts -€3,118
down €3,118 (-9.3%), from €33,502 to €30,384
- Financial charges +€35,435
up €35,435 (+84.3%), from €42,032 to €77,466
- Depreciation +€14,040
up €14,040 (+128.3%), from €10,941 to €24,981
- Taxes -€8,379
down €8,379 (-61.8%), from €13,554 to €5,175
- Gross operating margin +€2,118
up €2,118 (+1.9%), from €114,197 to €116,315
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 | €215,856 | €194,871 | -€20,985 | -9.7% |
| Fixed assets | 21/28 | €119,015 | €102,455 | -€16,561 | -13.9% |
| Tangible fixed assets | 22/27 | €118,916 | €102,355 | -€16,561 | -13.9% |
| Land and buildings | 22 | €46,731 | €50,261 | +€3,530 | +7.6% |
| Furniture and vehicles | 24 | €72,185 | €52,094 | -€20,091 | -27.8% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €96,841 | €92,417 | -€4,424 | -4.6% |
| Amounts receivable within one year | 40/41 | €35,315 | €55,027 | +€19,711 | +55.8% |
| Trade receivables | 40 | €22,534 | €52,164 | +€29,630 | +131.5% |
| Other amounts receivable | 41 | €12,781 | €2,862 | -€9,919 | -77.6% |
| Cash at bank and in hand | 54/58 | €57,952 | €37,319 | -€20,632 | -35.6% |
| Deferred charges and accrued income | 490/1 | €3,574 | €71 | -€3,503 | -98.0% |
| Total equity and liabilities | 10/49 | €215,856 | €194,871 | -€20,985 | -9.7% |
| Equity | 10/15 | €120,793 | €128,940 | +€8,147 | +6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €102,193 | €110,340 | +€8,147 | +8.0% |
| Distributable reserves | 133 | €102,193 | €110,340 | +€8,147 | +8.0% |
| Amounts payable | 17/49 | €95,063 | €65,931 | -€29,133 | -30.6% |
| Amounts payable after more than one year | 17 | €20,572 | €8,406 | -€12,166 | -59.1% |
| Financial debts | 170/4 | €20,572 | €8,406 | -€12,166 | -59.1% |
| Amounts payable within one year | 42/48 | €74,491 | €57,525 | -€16,967 | -22.8% |
| Current portion of amounts payable after more than one year | 42 | €11,654 | €12,166 | +€512 | +4.4% |
| Trade debts | 44 | €13,949 | €792 | -€13,158 | -94.3% |
| Suppliers | 440/4 | €13,949 | €792 | -€13,158 | -94.3% |
| Taxes, remuneration and social security | 45 | €15,386 | €14,183 | -€1,203 | -7.8% |
| Taxes | 450/3 | €15,386 | €14,183 | -€1,203 | -7.8% |
| Other amounts payable | 47/48 | €33,502 | €30,384 | -€3,118 | -9.3% |
| Non-recurring operating income | 76A | €2,195 | - | -€2,195 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,941 | €24,981 | +€14,040 | +128.3% |
| Other operating charges | 640/8 | €582 | €783 | +€201 | +34.5% |
| Gross operating margin | 9900 | €114,197 | €116,315 | +€2,118 | +1.9% |
| Operating profit (loss) | 9901 | €102,674 | €90,552 | -€12,122 | -11.8% |
| Financial income | 75/76B | €191 | €238 | +€47 | +24.5% |
| Recurring financial income | 75 | €191 | €238 | +€47 | +24.5% |
| Financial charges | 65/66B | €42,032 | €77,466 | +€35,435 | +84.3% |
| Recurring financial charges | 65 | €42,032 | €77,466 | +€35,435 | +84.3% |
| Profit (loss) for the period before taxes | 9903 | €60,833 | €13,323 | -€47,510 | -78.1% |
| Income taxes | 67/77 | €13,554 | €5,175 | -€8,379 | -61.8% |
| Profit (loss) for the period | 9904 | €47,279 | €8,147 | -€39,131 | -82.8% |
| Transfer from tax-exempt reserves | 789 | €4,976 | - | -€4,976 | |
| Profit (loss) for the period to be appropriated | 9905 | €52,255 | €8,147 | -€44,107 | -84.4% |
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 4 October 2026 via checked.be.