PAUNOVIC CONSULTANCY: 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.
PAUNOVIC CONSULTANCY
Largest movements
- Receivables within one year +€53,864
up €53,864 (+83.6%), from €64,393 to €118,258
of which Other amounts receivable: +€52,855
- Cash -€36,509
down €36,509 (-20.8%), from €175,607 to €139,098
mainly Contributions, distributions and other (-€107,851) and Receivables within one year (-€53,864)
- Current investments -€22,258
down €22,258 (-11.5%), from €193,549 to €171,291
- Tax, wage and social debts -€16,526
down €16,526 (-39.4%), from €41,917 to €25,391
- Reserves +€13,174
up €13,174 (+3.6%), from €368,422 to €381,596
- Gross operating margin +€32,743
up €32,743 (+25.0%), from €131,069 to €163,811
- Financial income +€21,742
up €21,742 (+868.4%), from €2,504 to €24,245
- Taxes +€15,993
up €15,993 (+37.2%), from €43,020 to €59,013
- Depreciation -€5,438
down €5,438 (-79.1%), from €6,876 to €1,439
- Financial charges +€1,915
up €1,915 (+53.4%), from €3,586 to €5,501
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 | €436,180 | €429,882 | -€6,298 | -1.4% |
| Fixed assets | 21/28 | €1,517 | €78 | -€1,439 | -94.8% |
| Tangible fixed assets | 22/27 | €1,517 | €78 | -€1,439 | -94.8% |
| Furniture and vehicles | 24 | €1,517 | €78 | -€1,439 | -94.8% |
| Current assets | 29/58 | €434,663 | €429,804 | -€4,860 | -1.1% |
| Amounts receivable within one year | 40/41 | €64,393 | €118,258 | +€53,864 | +83.6% |
| Trade receivables | 40 | €22,779 | €23,788 | +€1,009 | +4.4% |
| Other amounts receivable | 41 | €41,614 | €94,469 | +€52,855 | +127.0% |
| Current investments | 50/53 | €193,549 | €171,291 | -€22,258 | -11.5% |
| Cash at bank and in hand | 54/58 | €175,607 | €139,098 | -€36,509 | -20.8% |
| Deferred charges and accrued income | 490/1 | €1,114 | €1,157 | +€43 | +3.9% |
| Total equity and liabilities | 10/49 | €436,180 | €429,882 | -€6,298 | -1.4% |
| Equity | 10/15 | €388,422 | €401,596 | +€13,174 | +3.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €368,422 | €381,596 | +€13,174 | +3.6% |
| Distributable reserves | 133 | €368,422 | €381,596 | +€13,174 | +3.6% |
| Amounts payable | 17/49 | €47,758 | €28,286 | -€19,472 | -40.8% |
| Amounts payable within one year | 42/48 | €47,562 | €27,507 | -€20,055 | -42.2% |
| Trade debts | 44 | €5,645 | €2,116 | -€3,529 | -62.5% |
| Suppliers | 440/4 | €5,645 | €2,116 | -€3,529 | -62.5% |
| Taxes, remuneration and social security | 45 | €41,917 | €25,391 | -€16,526 | -39.4% |
| Taxes | 450/3 | €41,917 | €25,391 | -€16,526 | -39.4% |
| Accrued charges and deferred income | 492/3 | €195 | €778 | +€583 | +298.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,876 | €1,439 | -€5,438 | -79.1% |
| Other operating charges | 640/8 | €1,379 | €1,079 | -€300 | -21.8% |
| Gross operating margin | 9900 | €131,069 | €163,811 | +€32,743 | +25.0% |
| Operating profit (loss) | 9901 | €122,813 | €161,294 | +€38,480 | +31.3% |
| Financial income | 75/76B | €2,504 | €24,245 | +€21,742 | +868.4% |
| Recurring financial income | 75 | €2,504 | €24,245 | +€21,742 | +868.4% |
| Financial charges | 65/66B | €3,586 | €5,501 | +€1,915 | +53.4% |
| Recurring financial charges | 65 | €3,586 | €5,501 | +€1,915 | +53.4% |
| Profit (loss) for the period before taxes | 9903 | €121,731 | €180,038 | +€58,306 | +47.9% |
| Income taxes | 67/77 | €43,020 | €59,013 | +€15,993 | +37.2% |
| Profit (loss) for the period | 9904 | €78,711 | €121,025 | +€42,314 | +53.8% |
| Profit (loss) for the period to be appropriated | 9905 | €78,711 | €121,025 | +€42,314 | +53.8% |
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 8 October 2026 via checked.be.