PAVACON: 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.
PAVACON
Largest movements
- Cash +€105,516
up €105,516 (+9,054%), from €1,165 to €106,682
mainly Net result for the year (+€183,109) and Stocks and contracts (+€100,532)
- Stocks and contracts -€100,532
no longer reported in 2024 (was €100,532)
- Receivables within one year +€56,753
up €56,753 (+512%), from €11,082 to €67,835
of which Trade receivables: +€61,180
- Profit (loss) carried forward +€147,109
up €147,109, from -€67,828 to €79,280
- Other debts -€108,782
down €108,782 (-68.1%), from €159,748 to €50,966
- Tax, wage and social debts +€38,659
up €38,659 (+3,119%), from €1,240 to €39,899
of which Taxes: +€38,459
- Reserves -€12,636
down €12,636 (-52.4%), from €24,114 to €11,478
- Short-term financial debts -€2,333
no longer reported in 2024 (was €2,333)
- Gross operating margin +€171,980
up €171,980 (+931%), from €18,471 to €190,451
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €125,435 | €187,079 | +€61,645 | +49.1% |
| Fixed assets | 21/28 | €12,656 | €12,563 | -€93 | -0.7% |
| Tangible fixed assets | 22/27 | €12,656 | €12,563 | -€93 | -0.7% |
| Furniture and vehicles | 24 | €12,656 | €12,563 | -€93 | -0.7% |
| Current assets | 29/58 | €112,779 | €174,517 | +€61,737 | +54.7% |
| Stocks and contracts in progress | 3 | €100,532 | - | -€100,532 | |
| Contracts in progress | 37 | €100,532 | - | -€100,532 | |
| Amounts receivable within one year | 40/41 | €11,082 | €67,835 | +€56,753 | +512% |
| Trade receivables | 40 | - | €61,180 | +€61,180 | |
| Other amounts receivable | 41 | €11,082 | €6,655 | -€4,427 | -39.9% |
| Cash at bank and in hand | 54/58 | €1,165 | €106,682 | +€105,516 | +9,054% |
| Total equity and liabilities | 10/49 | €125,435 | €187,079 | +€61,645 | +49.1% |
| Equity | 10/15 | -€38,714 | €95,759 | +€134,473 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €24,114 | €11,478 | -€12,636 | -52.4% |
| Distributable reserves | 133 | €24,114 | €11,478 | -€12,636 | -52.4% |
| Profit (loss) carried forward | 14 | -€67,828 | €79,280 | +€147,109 | |
| Amounts payable | 17/49 | €164,149 | €91,321 | -€72,828 | -44.4% |
| Amounts payable within one year | 42/48 | €164,149 | €91,321 | -€72,828 | -44.4% |
| Financial debts | 43 | €2,333 | - | -€2,333 | |
| Credit institutions | 430/8 | €2,333 | - | -€2,333 | |
| Trade debts | 44 | €828 | €456 | -€372 | -44.9% |
| Suppliers | 440/4 | €828 | €456 | -€372 | -44.9% |
| Taxes, remuneration and social security | 45 | €1,240 | €39,899 | +€38,659 | +3,119% |
| Taxes | 450/3 | €1,240 | €39,699 | +€38,459 | +3,103% |
| Remuneration and social security | 454/9 | - | €200 | +€200 | |
| Other amounts payable | 47/48 | €159,748 | €50,966 | -€108,782 | -68.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,164 | €4,315 | +€1,151 | +36.4% |
| Other operating charges | 640/8 | €1,827 | €2,445 | +€618 | +33.9% |
| Gross operating margin | 9900 | €18,471 | €190,451 | +€171,980 | +931% |
| Operating profit (loss) | 9901 | €13,480 | €183,691 | +€170,211 | +1,263% |
| Financial charges | 65/66B | €235 | €152 | -€84 | -35.6% |
| Recurring financial charges | 65 | €235 | €152 | -€84 | -35.6% |
| Profit (loss) for the period before taxes | 9903 | €13,245 | €183,540 | +€170,295 | +1,286% |
| Income taxes | 67/77 | €1,304 | €431 | -€873 | -67.0% |
| Profit (loss) for the period | 9904 | €11,941 | €183,109 | +€171,168 | +1,433% |
| Profit (loss) for the period to be appropriated | 9905 | €11,941 | €183,109 | +€171,168 | +1,433% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.