Pauwels & C°: 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.
Pauwels & C°
Largest movements
- Deferred charges and accrued income -€192,956
down €192,956 (-99.8%), from €193,365 to €409
- Tangible fixed assets -€22,223
down €22,223 (-3.7%), from €604,533 to €582,310
of which Land and buildings: -€22,659
- Other debts -€192,976
no longer reported in 2025 (was €192,976)
- Debts after one year -€30,764
down €30,764 (-8.3%), from €372,018 to €341,254
- Depreciation +€12,182
up €12,182 (+63.1%), from €19,315 to €31,497
- Financial income -€10,867
down €10,867 (-55.6%), from €19,547 to €8,680
- Taxes -€7,524
down €7,524 (-72.8%), from €10,336 to €2,813
- Financial charges +€6,525
up €6,525 (+75.7%), from €8,623 to €15,148
- Gross operating margin +€4,166
up €4,166 (+10.0%), from €41,525 to €45,692
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 | €1,471,457 | €1,242,864 | -€228,592 | -15.5% |
| Fixed assets | 21/28 | €604,533 | €582,310 | -€22,223 | -3.7% |
| Tangible fixed assets | 22/27 | €604,533 | €582,310 | -€22,223 | -3.7% |
| Land and buildings | 22 | €583,049 | €560,390 | -€22,659 | -3.9% |
| Plant, machinery and equipment | 23 | - | €5,559 | +€5,559 | |
| Leasing and similar rights | 25 | €21,484 | €16,362 | -€5,123 | -23.8% |
| Current assets | 29/58 | €866,923 | €660,554 | -€206,369 | -23.8% |
| Amounts receivable within one year | 40/41 | €264,544 | €263,322 | -€1,222 | -0.5% |
| Other amounts receivable | 41 | €264,544 | €263,322 | -€1,222 | -0.5% |
| Current investments | 50/53 | €289,924 | €290,175 | +€251 | +0.1% |
| Cash at bank and in hand | 54/58 | €119,091 | €106,648 | -€12,442 | -10.4% |
| Deferred charges and accrued income | 490/1 | €193,365 | €409 | -€192,956 | -99.8% |
| Total equity and liabilities | 10/49 | €1,471,457 | €1,242,864 | -€228,592 | -15.5% |
| Equity | 10/15 | €861,226 | €859,453 | -€1,773 | -0.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €839,135 | €839,135 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,200 | €33,200 | = | 0.0% |
| Distributable reserves | 133 | €805,935 | €805,935 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,541 | €1,768 | -€1,773 | -50.1% |
| Amounts payable | 17/49 | €610,230 | €383,411 | -€226,819 | -37.2% |
| Amounts payable after more than one year | 17 | €372,018 | €341,254 | -€30,764 | -8.3% |
| Financial debts | 170/4 | €372,018 | €341,254 | -€30,764 | -8.3% |
| Amounts payable within one year | 42/48 | €238,133 | €41,905 | -€196,227 | -82.4% |
| Current portion of amounts payable after more than one year | 42 | €30,846 | €31,763 | +€917 | +3.0% |
| Trade debts | 44 | €3,708 | €4,263 | +€555 | +15.0% |
| Suppliers | 440/4 | €3,708 | €4,263 | +€555 | +15.0% |
| Taxes, remuneration and social security | 45 | €10,603 | €5,879 | -€4,724 | -44.5% |
| Taxes | 450/3 | €10,603 | €5,879 | -€4,724 | -44.5% |
| Other amounts payable | 47/48 | €192,976 | - | -€192,976 | |
| Accrued charges and deferred income | 492/3 | €80 | €252 | +€172 | +215% |
| Non-recurring operating income | 76A | €900 | - | -€900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,315 | €31,497 | +€12,182 | +63.1% |
| Other operating charges | 640/8 | €3,588 | €6,686 | +€3,098 | +86.4% |
| Gross operating margin | 9900 | €41,525 | €45,692 | +€4,166 | +10.0% |
| Operating profit (loss) | 9901 | €18,622 | €7,508 | -€11,114 | -59.7% |
| Financial income | 75/76B | €19,547 | €8,680 | -€10,867 | -55.6% |
| Recurring financial income | 75 | €19,547 | €8,680 | -€10,867 | -55.6% |
| Financial charges | 65/66B | €8,623 | €15,148 | +€6,525 | +75.7% |
| Recurring financial charges | 65 | €8,623 | €15,148 | +€6,525 | +75.7% |
| Profit (loss) for the period before taxes | 9903 | €29,546 | €1,040 | -€28,507 | -96.5% |
| Income taxes | 67/77 | €10,336 | €2,813 | -€7,524 | -72.8% |
| Profit (loss) for the period | 9904 | €19,210 | -€1,773 | -€20,983 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,210 | -€1,773 | -€20,983 |
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 16 October 2026 via checked.be.