PAV SECURITY: 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.
PAV SECURITY
Largest movements
- Cash -€13,651
down €13,651 (-36.6%), from €37,341 to €23,690
mainly Tax, wage and social debts (-€24,600) and Trade debts (-€12,323)
- Tax, wage and social debts -€24,600
down €24,600 (-31.0%), from €79,470 to €54,870
of which Remuneration and social security: -€33,548
- Profit (loss) carried forward +€21,172
up €21,172 (+17.7%), from €119,435 to €140,607
- Trade debts -€12,323
down €12,323 (-41.8%), from €29,505 to €17,182
- Gross operating margin -€86,036
down €86,036 (-18.3%), from €468,891 to €382,855
- Staff costs -€80,191
down €80,191 (-18.3%), from €439,096 to €358,905
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 | €393,411 | €377,660 | -€15,751 | -4.0% |
| Fixed assets | 21/28 | €2,117 | €1,129 | -€988 | -46.7% |
| Tangible fixed assets | 22/27 | €2,117 | €1,129 | -€988 | -46.7% |
| Furniture and vehicles | 24 | €2,117 | €1,129 | -€988 | -46.7% |
| Current assets | 29/58 | €391,293 | €376,530 | -€14,763 | -3.8% |
| Amounts receivable within one year | 40/41 | €353,674 | €352,551 | -€1,123 | -0.3% |
| Trade receivables | 40 | €352,121 | €332,378 | -€19,743 | -5.6% |
| Other amounts receivable | 41 | €1,553 | €20,173 | +€18,620 | +1199.1% |
| Cash at bank and in hand | 54/58 | €37,341 | €23,690 | -€13,651 | -36.6% |
| Deferred charges and accrued income | 490/1 | €278 | €289 | +€11 | +3.9% |
| Total equity and liabilities | 10/49 | €393,411 | €377,660 | -€15,751 | -4.0% |
| Equity | 10/15 | €284,435 | €305,607 | +€21,172 | +7.4% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €15,000 | €15,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,435 | €140,607 | +€21,172 | +17.7% |
| Amounts payable | 17/49 | €108,975 | €72,053 | -€36,923 | -33.9% |
| Amounts payable within one year | 42/48 | €108,975 | €72,053 | -€36,923 | -33.9% |
| Trade debts | 44 | €29,505 | €17,182 | -€12,323 | -41.8% |
| Suppliers | 440/4 | €29,505 | €17,182 | -€12,323 | -41.8% |
| Taxes, remuneration and social security | 45 | €79,470 | €54,870 | -€24,600 | -31.0% |
| Taxes | 450/3 | - | €8,948 | +€8,948 | |
| Remuneration and social security | 454/9 | €79,470 | €45,922 | -€33,548 | -42.2% |
| Remuneration, social security and pensions | 62 | €439,096 | €358,905 | -€80,191 | -18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €988 | €988 | +€0 | 0.0% |
| Other operating charges | 640/8 | €721 | €520 | -€201 | -27.9% |
| Gross operating margin | 9900 | €468,891 | €382,855 | -€86,036 | -18.3% |
| Operating profit (loss) | 9901 | €28,086 | €22,442 | -€5,644 | -20.1% |
| Financial charges | 65/66B | €788 | €1,270 | +€482 | +61.2% |
| Recurring financial charges | 65 | €788 | €1,270 | +€482 | +61.2% |
| Profit (loss) for the period before taxes | 9903 | €27,298 | €21,172 | -€6,126 | -22.4% |
| Income taxes | 67/77 | €71 | €0 | -€71 | -100.0% |
| Profit (loss) for the period | 9904 | €27,228 | €21,172 | -€6,056 | -22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,228 | €21,172 | -€6,056 | -22.2% |
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 1 October 2026 via checked.be.