Pavam: 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.
Pavam
Largest movements
- Tangible fixed assets -€27,206
down €27,206 (-3.1%), from €886,494 to €859,288
- Receivables within one year +€14,533
up €14,533 (+35.6%), from €40,792 to €55,325
of which Trade receivables: +€14,533
- Debts after one year -€75,000
down €75,000 (-15.0%), from €500,000 to €425,000
- Profit (loss) carried forward +€67,256
up €67,256 (+25.5%), from -€263,389 to -€196,132
- Gross operating margin -€10,625
down €10,625 (-8.7%), from €121,451 to €110,826
- Depreciation -€1,463
down €1,463 (-4.1%), from €36,106 to €34,643
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 | €990,023 | €978,893 | -€11,130 | -1.1% |
| Fixed assets | 21/28 | €945,989 | €911,346 | -€34,643 | -3.7% |
| Intangible fixed assets | 21 | €59,494 | €52,058 | -€7,437 | -12.5% |
| Tangible fixed assets | 22/27 | €886,494 | €859,288 | -€27,206 | -3.1% |
| Land and buildings | 22 | €886,494 | €859,288 | -€27,206 | -3.1% |
| Current assets | 29/58 | €44,034 | €67,547 | +€23,513 | +53.4% |
| Amounts receivable within one year | 40/41 | €40,792 | €55,325 | +€14,533 | +35.6% |
| Trade receivables | 40 | €40,778 | €55,311 | +€14,533 | +35.6% |
| Other amounts receivable | 41 | €14 | €14 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,242 | €12,222 | +€8,980 | +277.0% |
| Total equity and liabilities | 10/49 | €990,023 | €978,893 | -€11,130 | -1.1% |
| Equity | 10/15 | €486,611 | €553,868 | +€67,256 | +13.8% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Capital | 10 | €750,000 | €750,000 | = | 0.0% |
| Issued capital | 100 | €750,000 | €750,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€263,389 | -€196,132 | +€67,256 | +25.5% |
| Amounts payable | 17/49 | €503,411 | €425,025 | -€78,386 | -15.6% |
| Amounts payable after more than one year | 17 | €500,000 | €425,000 | -€75,000 | -15.0% |
| Financial debts | 170/4 | €500,000 | €425,000 | -€75,000 | -15.0% |
| Amounts payable within one year | 42/48 | - | €25 | +€25 | |
| Trade debts | 44 | - | €25 | +€25 | |
| Suppliers | 440/4 | - | €25 | +€25 | |
| Accrued charges and deferred income | 492/3 | €3,411 | - | -€3,411 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,106 | €34,643 | -€1,463 | -4.1% |
| Other operating charges | 640/8 | €5,073 | €6,016 | +€942 | +18.6% |
| Gross operating margin | 9900 | €121,451 | €110,826 | -€10,625 | -8.7% |
| Operating profit (loss) | 9901 | €80,272 | €70,167 | -€10,105 | -12.6% |
| Financial charges | 65/66B | €4,093 | €2,911 | -€1,181 | -28.9% |
| Recurring financial charges | 65 | €4,093 | €2,911 | -€1,181 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €76,180 | €67,256 | -€8,924 | -11.7% |
| Profit (loss) for the period | 9904 | €76,180 | €67,256 | -€8,924 | -11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €76,180 | €67,256 | -€8,924 | -11.7% |
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 10 October 2026 via checked.be.