Pavan: 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.
Pavan
Largest movements
- Cash +€197,586
up €197,586 (+271.7%), from €72,731 to €270,317
mainly Depreciation (+€176,446) and Net result for the year (+€75,053)
- Tangible fixed assets -€121,512
down €121,512 (-8.2%), from €1.5m to €1.4m
of which Land and buildings: -€120,782
- Current investments +€85,508
up €85,508 (+3.9%), from €2.2m to €2.3m
- Receivables within one year -€62,729
down €62,729 (-16.6%), from €377,832 to €315,103
of which Other amounts receivable: -€35,504
- Reserves +€75,053
up €75,053 (+16.1%), from €465,121 to €540,173
of which Distributable reserves: +€75,053
- Financial charges -€103,724
down €103,724 (-86.1%), from €120,467 to €16,743
- Gross operating margin +€35,263
up €35,263 (+94.7%), from €37,231 to €72,494
- Financial income -€22,945
down €22,945 (-8.6%), from €265,658 to €242,713
- Other operating charges -€17,287
down €17,287 (-30.5%), from €56,748 to €39,460
- Depreciation -€8,251
down €8,251 (-4.5%), from €184,697 to €176,446
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 | €5,456,362 | €5,555,215 | +€98,853 | +1.8% |
| Fixed assets | 21/28 | €2,807,529 | €2,686,017 | -€121,512 | -4.3% |
| Tangible fixed assets | 22/27 | €1,486,884 | €1,365,372 | -€121,512 | -8.2% |
| Land and buildings | 22 | €1,481,779 | €1,360,997 | -€120,782 | -8.2% |
| Plant, machinery and equipment | 23 | €5,104 | €4,375 | -€729 | -14.3% |
| Financial fixed assets | 28 | €1,320,645 | €1,320,645 | = | 0.0% |
| Current assets | 29/58 | €2,648,833 | €2,869,198 | +€220,365 | +8.3% |
| Amounts receivable within one year | 40/41 | €377,832 | €315,103 | -€62,729 | -16.6% |
| Trade receivables | 40 | €67,155 | €39,930 | -€27,225 | -40.5% |
| Other amounts receivable | 41 | €310,677 | €275,173 | -€35,504 | -11.4% |
| Current investments | 50/53 | €2,177,270 | €2,262,778 | +€85,508 | +3.9% |
| Cash at bank and in hand | 54/58 | €72,731 | €270,317 | +€197,586 | +271.7% |
| Deferred charges and accrued income | 490/1 | €21,000 | €21,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €5,456,362 | €5,555,215 | +€98,853 | +1.8% |
| Equity | 10/15 | €3,865,826 | €3,940,878 | +€75,053 | +1.9% |
| Contributions | 10/11 | €614,705 | €614,705 | = | 0.0% |
| Capital | 10 | €580,000 | €580,000 | = | 0.0% |
| Issued capital | 100 | €580,000 | €580,000 | = | 0.0% |
| Outside capital | 11 | €34,705 | €34,705 | = | 0.0% |
| Share premium | 1100/10 | €34,705 | €34,705 | = | 0.0% |
| Reserves | 13 | €465,121 | €540,173 | +€75,053 | +16.1% |
| Non-distributable reserves | 130/1 | €90,481 | €90,481 | = | 0.0% |
| Legal reserve | 130 | €90,481 | €90,481 | = | 0.0% |
| Distributable reserves | 133 | €374,640 | €449,692 | +€75,053 | +20.0% |
| Profit (loss) carried forward | 14 | €2,786,000 | €2,786,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,590,536 | €1,614,337 | +€23,801 | +1.5% |
| Amounts payable after more than one year | 17 | €1,387,468 | €1,387,468 | = | 0.0% |
| Financial debts | 170/4 | €1,387,468 | €1,387,468 | = | 0.0% |
| Amounts payable within one year | 42/48 | €139,881 | €163,682 | +€23,801 | +17.0% |
| Trade debts | 44 | €24,881 | €8,561 | -€16,321 | -65.6% |
| Suppliers | 440/4 | €24,881 | €8,561 | -€16,321 | -65.6% |
| Taxes, remuneration and social security | 45 | €17,826 | €8,350 | -€9,476 | -53.2% |
| Taxes | 450/3 | €13,326 | €3,850 | -€9,476 | -71.1% |
| Remuneration and social security | 454/9 | €4,500 | €4,500 | = | 0.0% |
| Other amounts payable | 47/48 | €97,174 | €146,771 | +€49,597 | +51.0% |
| Accrued charges and deferred income | 492/3 | €63,187 | €63,187 | +€0 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €184,697 | €176,446 | -€8,251 | -4.5% |
| Other operating charges | 640/8 | €56,748 | €39,460 | -€17,287 | -30.5% |
| Gross operating margin | 9900 | €37,231 | €72,494 | +€35,263 | +94.7% |
| Operating profit (loss) | 9901 | -€204,214 | -€143,412 | +€60,802 | +29.8% |
| Financial income | 75/76B | €265,658 | €242,713 | -€22,945 | -8.6% |
| Recurring financial income | 75 | €265,658 | €242,713 | -€22,945 | -8.6% |
| Financial charges | 65/66B | €120,467 | €16,743 | -€103,724 | -86.1% |
| Recurring financial charges | 65 | €120,467 | €16,743 | -€103,724 | -86.1% |
| Profit (loss) for the period before taxes | 9903 | -€59,023 | €82,558 | +€141,581 | |
| Income taxes | 67/77 | €0 | €7,505 | +€7,505 | |
| Profit (loss) for the period | 9904 | -€59,023 | €75,053 | +€134,075 | |
| Profit (loss) for the period to be appropriated | 9905 | -€59,023 | €75,053 | +€134,075 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.