Pavele: 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.
Pavele
Largest movements
- Receivables after one year -€6,699
down €6,699 (-11.1%), from €60,289 to €53,590
- Debts after one year -€10,807
down €10,807 (-63.2%), from €17,112 to €6,304
- Profit (loss) carried forward +€2,967
up €2,967 (+7.3%), from €40,372 to €43,338
- Other operating charges +€537
up €537 (+51.1%), from €1,051 to €1,588
- Financial charges -€510
down €510 (-29.9%), from €1,708 to €1,198
- Gross operating margin +€402
up €402 (+10.4%), from -€3,884 to -€3,481
- Financial income +€262
up €262 (+2.5%), from €10,333 to €10,595
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 | €160,334 | €152,322 | -€8,012 | -5.0% |
| Fixed assets | 21/28 | €89,523 | €88,562 | -€961 | -1.1% |
| Tangible fixed assets | 22/27 | €89,161 | €88,200 | -€961 | -1.1% |
| Land and buildings | 22 | €89,161 | €88,200 | -€961 | -1.1% |
| Financial fixed assets | 28 | €362 | €362 | = | 0.0% |
| Current assets | 29/58 | €70,811 | €63,760 | -€7,051 | -10.0% |
| Amounts receivable after more than one year | 29 | €60,289 | €53,590 | -€6,699 | -11.1% |
| Other amounts receivable | 291 | €60,289 | €53,590 | -€6,699 | -11.1% |
| Amounts receivable within one year | 40/41 | €5,169 | €4,797 | -€372 | -7.2% |
| Trade receivables | 40 | €1,302 | €1,302 | = | 0.0% |
| Other amounts receivable | 41 | €3,867 | €3,495 | -€372 | -9.6% |
| Cash at bank and in hand | 54/58 | €3,983 | €5,062 | +€1,079 | +27.1% |
| Deferred charges and accrued income | 490/1 | €1,369 | €310 | -€1,059 | -77.3% |
| Total equity and liabilities | 10/49 | €160,334 | €152,322 | -€8,012 | -5.0% |
| Equity | 10/15 | €125,443 | €128,409 | +€2,967 | +2.4% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Capital | 10 | €40,000 | €40,000 | = | 0.0% |
| Issued capital | 100 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €45,071 | €45,071 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Legal reserve | 130 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €41,071 | €41,071 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,372 | €43,338 | +€2,967 | +7.3% |
| Amounts payable | 17/49 | €34,891 | €23,913 | -€10,979 | -31.5% |
| Amounts payable after more than one year | 17 | €17,112 | €6,304 | -€10,807 | -63.2% |
| Financial debts | 170/4 | €17,112 | €6,304 | -€10,807 | -63.2% |
| Amounts payable within one year | 42/48 | €11,772 | €12,488 | +€715 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €10,807 | €10,807 | = | 0.0% |
| Trade debts | 44 | €965 | €1,680 | +€715 | +74.1% |
| Suppliers | 440/4 | €965 | €1,680 | +€715 | +74.1% |
| Accrued charges and deferred income | 492/3 | €6,007 | €5,121 | -€887 | -14.8% |
| Remuneration, social security and pensions | 62 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €961 | €961 | = | 0.0% |
| Other operating charges | 640/8 | €1,051 | €1,588 | +€537 | +51.1% |
| Gross operating margin | 9900 | -€3,884 | -€3,481 | +€402 | +10.4% |
| Operating profit (loss) | 9901 | -€6,283 | -€6,430 | -€147 | -2.3% |
| Financial income | 75/76B | €10,333 | €10,595 | +€262 | +2.5% |
| Recurring financial income | 75 | €10,333 | €10,595 | +€262 | +2.5% |
| Financial charges | 65/66B | €1,708 | €1,198 | -€510 | -29.9% |
| Recurring financial charges | 65 | €1,708 | €1,198 | -€510 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | €2,341 | €2,967 | +€626 | +26.7% |
| Profit (loss) for the period | 9904 | €2,341 | €2,967 | +€626 | +26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,341 | €2,967 | +€626 | +26.7% |
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 5 October 2026 via checked.be.