PAUVIC: 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.
PAUVIC
Largest movements
- Tangible fixed assets -€14,166
down €14,166 (-11.1%), from €127,142 to €112,976
- Receivables within one year +€7,252
up €7,252 (+189%), from €3,830 to €11,082
of which Trade receivables: +€5,582
- Cash -€4,056
down €4,056 (-34.8%), from €11,671 to €7,614
mainly Contributions, distributions and other (-€15,084) and Debts after one year (-€11,168)
- Reserves -€13,450
down €13,450 (-33.4%), from €40,250 to €26,800
of which Distributable reserves: -€10,454
- Other debts +€12,984
up €12,984 (+49.2%), from €26,414 to €39,398
- Debts after one year -€11,168
down €11,168 (-16.2%), from €69,128 to €57,960
of which Financial debts: -€11,168
- Gross operating margin -€3,080
down €3,080 (-11.7%), from €26,247 to €23,167
- Taxes -€1,310
down €1,310 (-42.6%), from €3,076 to €1,766
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 | €264,588 | €253,618 | -€10,970 | -4.1% |
| Fixed assets | 21/28 | €249,088 | €234,922 | -€14,166 | -5.7% |
| Intangible fixed assets | 21 | €121,946 | €121,946 | = | 0.0% |
| Tangible fixed assets | 22/27 | €127,142 | €112,976 | -€14,166 | -11.1% |
| Land and buildings | 22 | €127,142 | €112,976 | -€14,166 | -11.1% |
| Current assets | 29/58 | €15,500 | €18,697 | +€3,196 | +20.6% |
| Amounts receivable within one year | 40/41 | €3,830 | €11,082 | +€7,252 | +189% |
| Trade receivables | 40 | €3,267 | €8,849 | +€5,582 | +171% |
| Other amounts receivable | 41 | €563 | €2,234 | +€1,671 | +297% |
| Cash at bank and in hand | 54/58 | €11,671 | €7,614 | -€4,056 | -34.8% |
| Total equity and liabilities | 10/49 | €264,588 | €253,618 | -€10,970 | -4.1% |
| Equity | 10/15 | €148,839 | €135,389 | -€13,450 | -9.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €40,250 | €26,800 | -€13,450 | -33.4% |
| Tax-exempt reserves | 132 | €14,263 | €11,267 | -€2,996 | -21.0% |
| Distributable reserves | 133 | €25,987 | €15,533 | -€10,454 | -40.2% |
| Profit (loss) carried forward | 14 | €90,038 | €90,038 | = | 0.0% |
| Provisions and deferred taxes | 16 | €6,159 | €4,617 | -€1,543 | -25.0% |
| Deferred taxes | 168 | €6,159 | €4,617 | -€1,543 | -25.0% |
| Amounts payable | 17/49 | €109,590 | €113,613 | +€4,023 | +3.7% |
| Amounts payable after more than one year | 17 | €69,128 | €57,960 | -€11,168 | -16.2% |
| Financial debts | 170/4 | €56,378 | €45,210 | -€11,168 | -19.8% |
| Other amounts payable | 178/9 | €12,750 | €12,750 | = | 0.0% |
| Amounts payable within one year | 42/48 | €40,462 | €55,653 | +€15,191 | +37.5% |
| Current portion of amounts payable after more than one year | 42 | €10,709 | €11,168 | +€459 | +4.3% |
| Trade debts | 44 | - | €815 | +€815 | |
| Suppliers | 440/4 | - | €815 | +€815 | |
| Taxes, remuneration and social security | 45 | €3,339 | €4,272 | +€933 | +27.9% |
| Taxes | 450/3 | €3,339 | €4,272 | +€933 | +27.9% |
| Other amounts payable | 47/48 | €26,414 | €39,398 | +€12,984 | +49.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,166 | €14,166 | = | 0.0% |
| Other operating charges | 640/8 | €2,194 | €2,127 | -€67 | -3.1% |
| Gross operating margin | 9900 | €26,247 | €23,167 | -€3,080 | -11.7% |
| Operating profit (loss) | 9901 | €9,886 | €6,874 | -€3,012 | -30.5% |
| Financial charges | 65/66B | €5,276 | €5,016 | -€260 | -4.9% |
| Recurring financial charges | 65 | €5,276 | €5,016 | -€260 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €4,610 | €1,858 | -€2,752 | -59.7% |
| Transfer from deferred taxes | 780 | €1,543 | €1,543 | = | 0.0% |
| Income taxes | 67/77 | €3,076 | €1,766 | -€1,310 | -42.6% |
| Profit (loss) for the period | 9904 | €3,076 | €1,634 | -€1,442 | -46.9% |
| Transfer from tax-exempt reserves | 789 | €2,996 | €2,996 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,072 | €4,630 | -€1,442 | -23.8% |
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 25 October 2026 via checked.be.