PAVELEC: 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.
What changed
PAVELEC
NACE 68.321, Property management for co-owned buildings (syndics)
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€4,005
2024 · €53,346-€49,341
Equity
€1.1m
2024 · €1.1m+€4,005
Cash
€1,106
2024 · €208+€898
Balance sheet total
€2.0m
2024 · €2.0m-€66,931
Largest movements
Assets
- Current investments -€56,537
down €56,537 (-4.4%), from €1.3m to €1.2m
Equity and liabilities
- Other debts -€107,854
down €107,854 (-21.1%), from €509,976 to €402,122
- Short-term financial debts +€37,000
up €37,000 (+7.9%), from €468,000 to €505,000
Income statement
- Gross operating margin -€32,640
down €32,640 (-46.0%), from €71,008 to €38,368
- Depreciation +€10,211
up €10,211 (+36.0%), from €28,372 to €38,583
- Financial income -€4,178
down €4,178 (-6.2%), from €67,087 to €62,910
- Taxes -€3,361
down €3,361 (-17.0%), from €19,767 to €16,406
- Financial charges +€3,312
up €3,312 (+12.6%), from €26,274 to €29,586
of which Financial charges: +€6,012
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.
Result 2024
€53,346
Gross operating margin
-€32,640
Depreciation
-€10,211
Other operating charges
-€2,362
Financial income
-€4,178
Financial charges
-€3,312
Taxes
+€3,361
Result 2025
€4,005
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.
From operations
-€73,234
Investment
+€37,131
Financing
+€37,000
Cash 2024
€208
From operations (derived)
-€73,234
Net result for the year
+€4,005
Depreciation
+€38,583
Receivables within one year
-€2,457
Deferred charges and accrued income
-€5,429
Trade debts
-€1,022
Tax, wage and social debts
+€941
Other debts
-€107,854
Investment (derived)
+€37,131
Investment in fixed assets (net)
-€19,406
Current investments
+€56,537
Financing
+€37,000
Short-term financial debts
+€37,000
Cash 2025
€1,106
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,035,751 | €1,968,821 | -€66,931 | -3.3% |
| Fixed assets | 21/28 | €759,332 | €740,155 | -€19,177 | -2.5% |
| Tangible fixed assets | 22/27 | €759,282 | €740,105 | -€19,177 | -2.5% |
| Land and buildings | 22 | €683,079 | €657,760 | -€25,319 | -3.7% |
| Plant, machinery and equipment | 23 | €38,251 | €52,861 | +€14,611 | +38.2% |
| Furniture and vehicles | 24 | €37,952 | €29,484 | -€8,469 | -22.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €1,276,419 | €1,228,666 | -€47,754 | -3.7% |
| Amounts receivable within one year | 40/41 | €2,241 | €4,698 | +€2,457 | +109.6% |
| Other amounts receivable | 41 | €2,241 | €4,698 | +€2,457 | +109.6% |
| Current investments | 50/53 | €1,273,970 | €1,217,433 | -€56,537 | -4.4% |
| Cash at bank and in hand | 54/58 | €208 | €1,106 | +€898 | +431.3% |
| Deferred charges and accrued income | 490/1 | - | €5,429 | +€5,429 | |
| Total equity and liabilities | 10/49 | €2,035,751 | €1,968,821 | -€66,931 | -3.3% |
| Equity | 10/15 | €1,052,785 | €1,056,790 | +€4,005 | +0.4% |
| Contributions | 10/11 | €1,550,000 | €1,550,000 | = | 0.0% |
| Capital | 10 | €1,349,040 | €1,349,040 | = | 0.0% |
| Issued capital | 100 | €1,349,040 | €1,349,040 | = | 0.0% |
| Contributions outside capital | 11 | €200,960 | €200,960 | = | 0.0% |
| Share premium | 1100/10 | €200,960 | €200,960 | = | 0.0% |
| Revaluation surpluses | 12 | €58,530 | €58,530 | = | 0.0% |
| Reserves | 13 | €12,361 | €12,361 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,361 | €12,361 | = | 0.0% |
| Legal reserve | 130 | €12,361 | €12,361 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€568,106 | -€564,101 | +€4,005 | +0.7% |
| Amounts payable | 17/49 | €982,966 | €912,031 | -€70,935 | -7.2% |
| Amounts payable within one year | 42/48 | €982,966 | €912,031 | -€70,935 | -7.2% |
| Financial debts | 43 | €468,000 | €505,000 | +€37,000 | +7.9% |
| Credit institutions | 430/8 | €468,000 | €505,000 | +€37,000 | +7.9% |
| Trade debts | 44 | €1,782 | €759 | -€1,022 | -57.4% |
| Suppliers | 440/4 | €1,782 | €759 | -€1,022 | -57.4% |
| Taxes, remuneration and social security | 45 | €3,209 | €4,150 | +€941 | +29.3% |
| Taxes | 450/3 | €3,209 | €4,150 | +€941 | +29.3% |
| Other amounts payable | 47/48 | €509,976 | €402,122 | -€107,854 | -21.1% |
| Non-recurring operating income | 76A | €91,597 | €77,105 | -€14,492 | -15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,372 | €38,583 | +€10,211 | +36.0% |
| Other operating charges | 640/8 | €10,336 | €12,698 | +€2,362 | +22.8% |
| Gross operating margin | 9900 | €71,008 | €38,368 | -€32,640 | -46.0% |
| Operating profit (loss) | 9901 | €32,300 | -€12,913 | -€45,213 | |
| Financial income | 75/76B | €67,087 | €62,910 | -€4,178 | -6.2% |
| Recurring financial income | 75 | €67,087 | €62,910 | -€4,178 | -6.2% |
| Financial charges | 65/66B | €26,274 | €29,586 | +€3,312 | +12.6% |
| Recurring financial charges | 65 | €23,574 | €29,586 | +€6,012 | +25.5% |
| Non-recurring financial charges | 66B | €2,700 | - | -€2,700 | |
| Profit (loss) for the period before taxes | 9903 | €73,113 | €20,411 | -€52,702 | -72.1% |
| Income taxes | 67/77 | €19,767 | €16,406 | -€3,361 | -17.0% |
| Profit (loss) for the period | 9904 | €53,346 | €4,005 | -€49,341 | -92.5% |
| Profit (loss) for the period to be appropriated | 9905 | €53,346 | €4,005 | -€49,341 | -92.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.