PAVECO: 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.
PAVECO
Largest movements
- Cash -€46,361
down €46,361 (-14.9%), from €311,606 to €265,244
mainly Other debts (-€100,859) and Trade debts (-€670)
- Receivables within one year -€4,356
down €4,356 (-28.6%), from €15,246 to €10,890
of which Trade receivables: -€4,356
- Other debts -€100,859
down €100,859 (-100.0%), from €100,859 to €0
- Reserves +€41,531
up €41,531 (+18.8%), from €221,047 to €262,578
- Tax, wage and social debts +€6,272
up €6,272 (+91.7%), from €6,836 to €13,108
- Gross operating margin -€1,602
down €1,602 (-2.6%), from €62,380 to €60,778
- Taxes -€834
down €834 (-4.9%), from €16,999 to €16,165
- Financial income -€792
down €792 (-59.0%), from €1,343 to €551
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 | €336,607 | €282,881 | -€53,726 | -16.0% |
| Fixed assets | 21/28 | €6,029 | €3,493 | -€2,535 | -42.1% |
| Tangible fixed assets | 22/27 | €6,029 | €3,493 | -€2,535 | -42.1% |
| Plant, machinery and equipment | 23 | €571 | €67 | -€504 | -88.3% |
| Furniture and vehicles | 24 | €4,610 | €2,719 | -€1,891 | -41.0% |
| Other tangible fixed assets | 26 | €848 | €708 | -€140 | -16.5% |
| Current assets | 29/58 | €330,578 | €279,387 | -€51,191 | -15.5% |
| Amounts receivable within one year | 40/41 | €15,246 | €10,890 | -€4,356 | -28.6% |
| Trade receivables | 40 | €15,246 | €10,890 | -€4,356 | -28.6% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €311,606 | €265,244 | -€46,361 | -14.9% |
| Deferred charges and accrued income | 490/1 | €3,727 | €3,253 | -€474 | -12.7% |
| Total equity and liabilities | 10/49 | €336,607 | €282,881 | -€53,726 | -16.0% |
| Equity | 10/15 | €227,247 | €268,778 | +€41,531 | +18.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €221,047 | €262,578 | +€41,531 | +18.8% |
| Distributable reserves | 133 | €221,047 | €262,578 | +€41,531 | +18.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €109,360 | €14,103 | -€95,257 | -87.1% |
| Amounts payable within one year | 42/48 | €109,360 | €14,103 | -€95,257 | -87.1% |
| Trade debts | 44 | €1,665 | €995 | -€670 | -40.2% |
| Suppliers | 440/4 | €1,665 | €995 | -€670 | -40.2% |
| Taxes, remuneration and social security | 45 | €6,836 | €13,108 | +€6,272 | +91.7% |
| Taxes | 450/3 | €6,836 | €13,108 | +€6,272 | +91.7% |
| Other amounts payable | 47/48 | €100,859 | €0 | -€100,859 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,460 | €2,535 | +€75 | +3.1% |
| Other operating charges | 640/8 | €993 | €1,025 | +€32 | +3.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €62,380 | €60,778 | -€1,602 | -2.6% |
| Operating profit (loss) | 9901 | €58,927 | €57,217 | -€1,710 | -2.9% |
| Financial income | 75/76B | €1,343 | €551 | -€792 | -59.0% |
| Recurring financial income | 75 | €1,343 | €551 | -€792 | -59.0% |
| Financial charges | 65/66B | €68 | €72 | +€5 | +6.7% |
| Recurring financial charges | 65 | €68 | €72 | +€5 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €60,202 | €57,696 | -€2,506 | -4.2% |
| Income taxes | 67/77 | €16,999 | €16,165 | -€834 | -4.9% |
| Profit (loss) for the period | 9904 | €43,203 | €41,531 | -€1,672 | -3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €43,203 | €41,531 | -€1,672 | -3.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.