Pauwels Stijn: what changed
Pauwels Stijn
Largest movements
- Receivables within one year +€53,240
up €53,240 (+703%), from €7,570 to €60,810
of which Trade receivables: +€59,122
- Cash -€27,194
down €27,194 (-33.7%), from €80,645 to €53,451
mainly Contributions, distributions and other (-€60,000) and Receivables within one year (-€53,240)
- Deferred charges and accrued income +€9,528
up €9,528 (+225%), from €4,238 to €13,766
- Financial fixed assets +€3,060
new in 2025: €3,060
- Other debts +€44,506
new in 2025: €44,506
- Accrued charges and deferred income -€9,504
down €9,504 (-88.5%), from €10,745 to €1,241
- Reserves +€9,428
up €9,428 (+14.6%), from €64,451 to €73,879
- Tax, wage and social debts -€4,585
down €4,585 (-53.0%), from €8,646 to €4,061
of which Taxes: -€2,808
- Gross operating margin +€50,238
up €50,238 (+123%), from €40,848 to €91,085
- Taxes +€10,211
up €10,211 (+113%), from €9,061 to €19,271
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €95,301 | €134,764 | +€39,463 | +41.4% |
| Fixed assets | 21/28 | €2,848 | €6,737 | +€3,889 | +137% |
| Tangible fixed assets | 22/27 | €2,848 | €3,677 | +€829 | +29.1% |
| Plant, machinery and equipment | 23 | €1,010 | €480 | -€530 | -52.4% |
| Furniture and vehicles | 24 | €1,838 | €3,197 | +€1,359 | +74.0% |
| Financial fixed assets | 28 | - | €3,060 | +€3,060 | |
| Current assets | 29/58 | €92,453 | €128,026 | +€35,573 | +38.5% |
| Amounts receivable within one year | 40/41 | €7,570 | €60,810 | +€53,240 | +703% |
| Trade receivables | 40 | - | €59,122 | +€59,122 | |
| Other amounts receivable | 41 | €7,570 | €1,688 | -€5,882 | -77.7% |
| Cash at bank and in hand | 54/58 | €80,645 | €53,451 | -€27,194 | -33.7% |
| Deferred charges and accrued income | 490/1 | €4,238 | €13,766 | +€9,528 | +225% |
| Total equity and liabilities | 10/49 | €95,301 | €134,764 | +€39,463 | +41.4% |
| Equity | 10/15 | €74,451 | €83,879 | +€9,428 | +12.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €64,451 | €73,879 | +€9,428 | +14.6% |
| Distributable reserves | 133 | €64,451 | €73,879 | +€9,428 | +14.6% |
| Amounts payable | 17/49 | €20,850 | €50,885 | +€30,035 | +144% |
| Amounts payable within one year | 42/48 | €10,105 | €49,644 | +€39,540 | +391% |
| Trade debts | 44 | €1,459 | €1,078 | -€381 | -26.1% |
| Suppliers | 440/4 | €1,459 | €1,078 | -€381 | -26.1% |
| Taxes, remuneration and social security | 45 | €8,646 | €4,061 | -€4,585 | -53.0% |
| Taxes | 450/3 | €6,869 | €4,061 | -€2,808 | -40.9% |
| Remuneration and social security | 454/9 | €1,777 | - | -€1,777 | |
| Other amounts payable | 47/48 | - | €44,506 | +€44,506 | |
| Accrued charges and deferred income | 492/3 | €10,745 | €1,241 | -€9,504 | -88.5% |
| Non-recurring operating income | 76A | - | €59,394 | +€59,394 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,529 | €1,612 | +€82 | +5.4% |
| Other operating charges | 640/8 | €834 | €720 | -€114 | -13.7% |
| Gross operating margin | 9900 | €40,848 | €91,085 | +€50,238 | +123% |
| Operating profit (loss) | 9901 | €38,484 | €88,753 | +€50,269 | +131% |
| Financial income | 75/76B | €495 | - | -€495 | |
| Recurring financial income | 75 | €495 | - | -€495 | |
| Financial charges | 65/66B | €71 | €54 | -€17 | -24.1% |
| Recurring financial charges | 65 | €71 | €54 | -€17 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €38,908 | €88,699 | +€49,792 | +128% |
| Income taxes | 67/77 | €9,061 | €19,271 | +€10,211 | +113% |
| Profit (loss) for the period | 9904 | €29,847 | €69,428 | +€39,581 | +133% |
| Profit (loss) for the period to be appropriated | 9905 | €29,847 | €69,428 | +€39,581 | +133% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.