PAVA BOUW: 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.
PAVA BOUW
Largest movements
- Tangible fixed assets +€141,193
up €141,193 (+761%), from €18,558 to €159,751
of which Land and buildings: +€146,470
- Cash -€56,438
down €56,438 (-57.9%), from €97,560 to €41,121
mainly Investment in fixed assets (net) (-€150,503) and Stocks and contracts (-€38,762)
- Stocks and contracts +€38,762
up €38,762 (+1,678%), from €2,310 to €41,072
of which Contracts in progress: +€39,196
- Receivables within one year +€12,313
up €12,313 (+58.8%), from €20,953 to €33,265
of which Other amounts receivable: +€10,543
- Debts after one year +€139,819
new in 2025: €139,819
- Reserves -€29,412
down €29,412 (-22.4%), from €131,549 to €102,137
- Trade debts +€18,793
up €18,793 (+520%), from €3,613 to €22,406
- Current portion of long-term debt +€8,311
new in 2025: €8,311
- Profit (loss) carried forward -€5,608
new in 2025: -€5,608
- Gross operating margin -€38,031
down €38,031 (-60.4%), from €62,990 to €24,959
- Other operating charges +€17,074
up €17,074 (+1,187%), from €1,438 to €18,513
- Taxes -€10,277
down €10,277 (-97.8%), from €10,509 to €232
- Depreciation -€5,015
down €5,015 (-35.0%), from €14,324 to €9,310
- Financial charges +€2,308
up €2,308 (+246%), from €938 to €3,246
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 | €160,024 | €295,809 | +€135,785 | +84.9% |
| Fixed assets | 21/28 | €39,158 | €180,351 | +€141,193 | +361% |
| Tangible fixed assets | 22/27 | €18,558 | €159,751 | +€141,193 | +761% |
| Land and buildings | 22 | €8,817 | €155,287 | +€146,470 | +1,661% |
| Plant, machinery and equipment | 23 | €4,592 | €2,296 | -€2,296 | -50.0% |
| Furniture and vehicles | 24 | €5,149 | €2,168 | -€2,981 | -57.9% |
| Financial fixed assets | 28 | €20,600 | €20,600 | = | 0.0% |
| Current assets | 29/58 | €120,866 | €115,458 | -€5,408 | -4.5% |
| Stocks and contracts in progress | 3 | €2,310 | €41,072 | +€38,762 | +1,678% |
| Stocks | 30/36 | €2,310 | €1,876 | -€434 | -18.8% |
| Contracts in progress | 37 | - | €39,196 | +€39,196 | |
| Amounts receivable within one year | 40/41 | €20,953 | €33,265 | +€12,313 | +58.8% |
| Trade receivables | 40 | €753 | €2,523 | +€1,769 | +235% |
| Other amounts receivable | 41 | €20,199 | €30,743 | +€10,543 | +52.2% |
| Cash at bank and in hand | 54/58 | €97,560 | €41,121 | -€56,438 | -57.9% |
| Deferred charges and accrued income | 490/1 | €43 | - | -€43 | |
| Total equity and liabilities | 10/49 | €160,024 | €295,809 | +€135,785 | +84.9% |
| Equity | 10/15 | €150,149 | €115,129 | -€35,020 | -23.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €131,549 | €102,137 | -€29,412 | -22.4% |
| Distributable reserves | 133 | €131,549 | €102,137 | -€29,412 | -22.4% |
| Profit (loss) carried forward | 14 | - | -€5,608 | -€5,608 | |
| Amounts payable | 17/49 | €9,875 | €180,680 | +€170,805 | +1,730% |
| Amounts payable after more than one year | 17 | - | €139,819 | +€139,819 | |
| Financial debts | 170/4 | - | €139,819 | +€139,819 | |
| Amounts payable within one year | 42/48 | €9,875 | €40,862 | +€30,987 | +314% |
| Current portion of amounts payable after more than one year | 42 | - | €8,311 | +€8,311 | |
| Trade debts | 44 | €3,613 | €22,406 | +€18,793 | +520% |
| Suppliers | 440/4 | €3,613 | €22,406 | +€18,793 | +520% |
| Taxes, remuneration and social security | 45 | €6,261 | €10,145 | +€3,883 | +62.0% |
| Taxes | 450/3 | €3,058 | €6,920 | +€3,862 | +126% |
| Remuneration and social security | 454/9 | €3,203 | €3,224 | +€21 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,324 | €9,310 | -€5,015 | -35.0% |
| Other operating charges | 640/8 | €1,438 | €18,513 | +€17,074 | +1,187% |
| Gross operating margin | 9900 | €62,990 | €24,959 | -€38,031 | -60.4% |
| Operating profit (loss) | 9901 | €47,228 | -€2,863 | -€50,091 | |
| Financial income | 75/76B | €2,956 | €733 | -€2,223 | -75.2% |
| Recurring financial income | 75 | €2,956 | €733 | -€2,223 | -75.2% |
| Financial charges | 65/66B | €938 | €3,246 | +€2,308 | +246% |
| Recurring financial charges | 65 | €938 | €3,246 | +€2,308 | +246% |
| Profit (loss) for the period before taxes | 9903 | €49,246 | -€5,376 | -€54,622 | |
| Income taxes | 67/77 | €10,509 | €232 | -€10,277 | -97.8% |
| Profit (loss) for the period | 9904 | €38,737 | -€5,608 | -€44,345 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,737 | -€5,608 | -€44,345 |
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 31 October 2026 via checked.be.