PAUWELYN: 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.
PAUWELYN
Largest movements
- Cash +€265,565
up €265,565 (+442.9%), from €59,959 to €325,525
mainly Net result for the year (+€160,273) and Investment in fixed assets (net) (+€89,153)
- Tangible fixed assets -€113,728
down €113,728 (-64.2%), from €177,054 to €63,326
of which Land and buildings: -€91,820
- Stocks and contracts +€26,000
new in 2025: €26,000
- Receivables within one year -€6,058
down €6,058 (-13.6%), from €44,384 to €38,326
of which Trade receivables: -€40,495
- Reserves +€160,273
up €160,273 (+101.6%), from €157,706 to €317,979
of which Distributable reserves: +€160,273
- Trade debts +€26,139
up €26,139 (+309.0%), from €8,458 to €34,597
- Tax, wage and social debts -€12,397
down €12,397 (-73.1%), from €16,953 to €4,556
of which Taxes: -€10,708
- Debts after one year -€7,857
down €7,857 (-20.7%), from €37,976 to €30,119
- Other debts +€5,468
up €5,468 (+13.2%), from €41,497 to €46,965
- Gross operating margin +€203,049
up €203,049 (+180.4%), from €112,544 to €315,592
- Taxes +€63,917
up €63,917 (+576.0%), from €11,097 to €75,014
- Depreciation -€3,555
down €3,555 (-12.6%), from €28,130 to €24,575
- Staff costs +€3,374
up €3,374 (+7.4%), from €45,767 to €49,142
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 | €282,847 | €454,474 | +€171,626 | +60.7% |
| Fixed assets | 21/28 | €177,054 | €63,326 | -€113,728 | -64.2% |
| Tangible fixed assets | 22/27 | €177,054 | €63,326 | -€113,728 | -64.2% |
| Land and buildings | 22 | €101,877 | €10,058 | -€91,820 | -90.1% |
| Plant, machinery and equipment | 23 | €63,095 | €45,808 | -€17,287 | -27.4% |
| Furniture and vehicles | 24 | €12,082 | €7,461 | -€4,621 | -38.2% |
| Current assets | 29/58 | €105,793 | €391,147 | +€285,354 | +269.7% |
| Stocks and contracts in progress | 3 | - | €26,000 | +€26,000 | |
| Contracts in progress | 37 | - | €26,000 | +€26,000 | |
| Amounts receivable within one year | 40/41 | €44,384 | €38,326 | -€6,058 | -13.6% |
| Trade receivables | 40 | €43,796 | €3,301 | -€40,495 | -92.5% |
| Other amounts receivable | 41 | €588 | €35,025 | +€34,437 | +5856.6% |
| Cash at bank and in hand | 54/58 | €59,959 | €325,525 | +€265,565 | +442.9% |
| Deferred charges and accrued income | 490/1 | €1,450 | €1,297 | -€153 | -10.6% |
| Total equity and liabilities | 10/49 | €282,847 | €454,474 | +€171,626 | +60.7% |
| Equity | 10/15 | €170,106 | €330,379 | +€160,273 | +94.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €157,706 | €317,979 | +€160,273 | +101.6% |
| Tax-exempt reserves | 132 | €10,182 | €10,182 | = | 0.0% |
| Distributable reserves | 133 | €147,524 | €307,797 | +€160,273 | +108.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €112,742 | €124,095 | +€11,353 | +10.1% |
| Amounts payable after more than one year | 17 | €37,976 | €30,119 | -€7,857 | -20.7% |
| Financial debts | 170/4 | €37,976 | €30,119 | -€7,857 | -20.7% |
| Amounts payable within one year | 42/48 | €74,765 | €93,976 | +€19,210 | +25.7% |
| Current portion of amounts payable after more than one year | 42 | €7,857 | €7,857 | = | 0.0% |
| Trade debts | 44 | €8,458 | €34,597 | +€26,139 | +309.0% |
| Suppliers | 440/4 | €8,458 | €34,597 | +€26,139 | +309.0% |
| Taxes, remuneration and social security | 45 | €16,953 | €4,556 | -€12,397 | -73.1% |
| Taxes | 450/3 | €11,098 | €390 | -€10,708 | -96.5% |
| Remuneration and social security | 454/9 | €5,855 | €4,166 | -€1,689 | -28.8% |
| Other amounts payable | 47/48 | €41,497 | €46,965 | +€5,468 | +13.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €2,075 | €147,188 | +€145,113 | +6993.4% |
| Remuneration, social security and pensions | 62 | €45,767 | €49,142 | +€3,374 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,130 | €24,575 | -€3,555 | -12.6% |
| Other operating charges | 640/8 | €1,501 | €3,094 | +€1,592 | +106.1% |
| Gross operating margin | 9900 | €112,544 | €315,592 | +€203,049 | +180.4% |
| Operating profit (loss) | 9901 | €37,145 | €238,782 | +€201,637 | +542.8% |
| Financial income | 75/76B | €1,334 | €1,412 | +€78 | +5.9% |
| Recurring financial income | 75 | €1,334 | €1,412 | +€78 | +5.9% |
| Financial charges | 65/66B | €3,923 | €4,906 | +€983 | +25.1% |
| Recurring financial charges | 65 | €3,923 | €4,906 | +€983 | +25.1% |
| Profit (loss) for the period before taxes | 9903 | €34,556 | €235,288 | +€200,732 | +580.9% |
| Income taxes | 67/77 | €11,097 | €75,014 | +€63,917 | +576.0% |
| Profit (loss) for the period | 9904 | €23,458 | €160,273 | +€136,815 | +583.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,458 | €160,273 | +€136,815 | +583.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.