PAVA Consult: 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 Consult
Largest movements
- Receivables within one year -€299,528
down €299,528 (-61.7%), from €485,328 to €185,800
of which Other amounts receivable: -€277,767
- Cash -€244,452
down €244,452 (-99.3%), from €246,136 to €1,684
mainly Accrued charges and deferred income (-€350,000) and Trade debts (-€248,779)
- Tangible fixed assets +€38,035
up €38,035 (+1.7%), from €2.2m to €2.2m
of which Land and buildings: +€42,559
- Accrued charges and deferred income -€350,000
down €350,000 (-71.9%), from €487,123 to €137,123
- Current portion of long-term debt +€304,667
up €304,667 (+347%), from €87,785 to €392,451
- Trade debts -€248,779
down €248,779 (-70.7%), from €352,098 to €103,319
- Tax, wage and social debts -€221,101
down €221,101 (-82.3%), from €268,592 to €47,491
- Debts after one year -€57,887
down €57,887 (-6.6%), from €874,496 to €816,610
- Gross operating margin +€46,450
up €46,450 (+15.7%), from €295,472 to €341,922
- Financial income -€12,820
down €12,820 (-88.6%), from €14,465 to €1,645
- Depreciation -€8,108
down €8,108 (-4.3%), from €188,674 to €180,566
- Taxes +€6,050
up €6,050 (+35.6%), from €16,977 to €23,027
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 | €2,973,103 | €2,456,601 | -€516,502 | -17.4% |
| Fixed assets | 21/28 | €2,207,214 | €2,245,248 | +€38,035 | +1.7% |
| Tangible fixed assets | 22/27 | €2,207,214 | €2,245,248 | +€38,035 | +1.7% |
| Land and buildings | 22 | €2,175,929 | €2,218,488 | +€42,559 | +2.0% |
| Plant, machinery and equipment | 23 | €22,175 | €19,844 | -€2,331 | -10.5% |
| Furniture and vehicles | 24 | €9,110 | €6,917 | -€2,193 | -24.1% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €765,890 | €211,353 | -€554,537 | -72.4% |
| Amounts receivable after more than one year | 29 | €31,467 | €22,400 | -€9,067 | -28.8% |
| Other amounts receivable | 291 | €31,467 | €22,400 | -€9,067 | -28.8% |
| Amounts receivable within one year | 40/41 | €485,328 | €185,800 | -€299,528 | -61.7% |
| Trade receivables | 40 | €51,696 | €29,935 | -€21,762 | -42.1% |
| Other amounts receivable | 41 | €433,632 | €155,865 | -€277,767 | -64.1% |
| Cash at bank and in hand | 54/58 | €246,136 | €1,684 | -€244,452 | -99.3% |
| Deferred charges and accrued income | 490/1 | €2,960 | €1,469 | -€1,491 | -50.4% |
| Total equity and liabilities | 10/49 | €2,973,103 | €2,456,601 | -€516,502 | -17.4% |
| Equity | 10/15 | €902,841 | €943,727 | +€40,885 | +4.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €890,441 | €931,327 | +€40,885 | +4.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €890,441 | €931,327 | +€40,885 | +4.6% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €2,070,262 | €1,512,874 | -€557,388 | -26.9% |
| Amounts payable after more than one year | 17 | €874,496 | €816,610 | -€57,887 | -6.6% |
| Financial debts | 170/4 | €874,496 | €816,610 | -€57,887 | -6.6% |
| Amounts payable within one year | 42/48 | €708,642 | €559,142 | -€149,501 | -21.1% |
| Current portion of amounts payable after more than one year | 42 | €87,785 | €392,451 | +€304,667 | +347% |
| Financial debts | 43 | €168 | €6,016 | +€5,848 | +3,489% |
| Credit institutions | 430/8 | €168 | €6,016 | +€5,848 | +3,489% |
| Trade debts | 44 | €352,098 | €103,319 | -€248,779 | -70.7% |
| Suppliers | 440/4 | €352,098 | €103,319 | -€248,779 | -70.7% |
| Taxes, remuneration and social security | 45 | €268,592 | €47,491 | -€221,101 | -82.3% |
| Taxes | 450/3 | €268,592 | €47,491 | -€221,101 | -82.3% |
| Other amounts payable | 47/48 | - | €9,864 | +€9,864 | |
| Accrued charges and deferred income | 492/3 | €487,123 | €137,123 | -€350,000 | -71.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €188,674 | €180,566 | -€8,108 | -4.3% |
| Other operating charges | 640/8 | €10 | €2,996 | +€2,986 | +30,439% |
| Non-recurring operating charges | 66A | - | €45,883 | +€45,883 | |
| Gross operating margin | 9900 | €295,472 | €341,922 | +€46,450 | +15.7% |
| Operating profit (loss) | 9901 | €106,789 | €112,477 | +€5,689 | +5.3% |
| Financial income | 75/76B | €14,465 | €1,645 | -€12,820 | -88.6% |
| Recurring financial income | 75 | €14,465 | €1,645 | -€12,820 | -88.6% |
| Financial charges | 65/66B | €53,078 | €50,211 | -€2,868 | -5.4% |
| Recurring financial charges | 65 | €53,078 | €50,211 | -€2,868 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €68,176 | €63,912 | -€4,264 | -6.3% |
| Income taxes | 67/77 | €16,977 | €23,027 | +€6,050 | +35.6% |
| Profit (loss) for the period | 9904 | €51,199 | €40,885 | -€10,314 | -20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €51,199 | €40,885 | -€10,314 | -20.1% |
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 22 October 2026 via checked.be.