PAVEMATI: 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.
PAVEMATI
Largest movements
- Cash +€79,337
up €79,337 (+208.7%), from €38,019 to €117,356
mainly Net result for the year (+€49,113) and Receivables within one year (+€22,186)
- Receivables within one year -€22,186
down €22,186 (-50.7%), from €43,724 to €21,537
- Current investments -€6,238
down €6,238 (-5.2%), from €120,078 to €113,840
- Tangible fixed assets +€4,102
up €4,102 (+156.5%), from €2,621 to €6,722
of which Furniture and vehicles: +€4,381
- Reserves +€49,113
up €49,113 (+33.8%), from €145,121 to €194,234
- Tax, wage and social debts +€5,288
up €5,288 (+12.9%), from €41,056 to €46,344
- Gross operating margin +€29,989
up €29,989 (+70.3%), from €42,684 to €72,672
- Taxes +€9,067
up €9,067 (+65.1%), from €13,933 to €23,000
- Financial income +€1,506
up €1,506 (+73.5%), from €2,049 to €3,556
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 | €204,840 | €260,974 | +€56,133 | +27.4% |
| Fixed assets | 21/28 | €2,621 | €6,722 | +€4,102 | +156.5% |
| Tangible fixed assets | 22/27 | €2,621 | €6,722 | +€4,102 | +156.5% |
| Plant, machinery and equipment | 23 | €380 | €101 | -€279 | -73.5% |
| Furniture and vehicles | 24 | €2,240 | €6,621 | +€4,381 | +195.6% |
| Current assets | 29/58 | €202,220 | €254,252 | +€52,032 | +25.7% |
| Amounts receivable within one year | 40/41 | €43,724 | €21,537 | -€22,186 | -50.7% |
| Trade receivables | 40 | €43,724 | €21,537 | -€22,186 | -50.7% |
| Current investments | 50/53 | €120,078 | €113,840 | -€6,238 | -5.2% |
| Cash at bank and in hand | 54/58 | €38,019 | €117,356 | +€79,337 | +208.7% |
| Deferred charges and accrued income | 490/1 | €399 | €1,518 | +€1,119 | +280.4% |
| Total equity and liabilities | 10/49 | €204,840 | €260,974 | +€56,133 | +27.4% |
| Equity | 10/15 | €160,121 | €209,234 | +€49,113 | +30.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €145,121 | €194,234 | +€49,113 | +33.8% |
| Distributable reserves | 133 | €145,121 | €194,234 | +€49,113 | +33.8% |
| Amounts payable | 17/49 | €44,719 | €51,740 | +€7,021 | +15.7% |
| Amounts payable within one year | 42/48 | €44,719 | €51,740 | +€7,021 | +15.7% |
| Trade debts | 44 | €3,664 | €5,396 | +€1,732 | +47.3% |
| Suppliers | 440/4 | €3,664 | €5,396 | +€1,732 | +47.3% |
| Taxes, remuneration and social security | 45 | €41,056 | €46,344 | +€5,288 | +12.9% |
| Taxes | 450/3 | €41,056 | €46,344 | +€5,288 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €897 | €595 | -€302 | -33.7% |
| Other operating charges | 640/8 | €549 | €855 | +€306 | +55.6% |
| Gross operating margin | 9900 | €42,684 | €72,672 | +€29,989 | +70.3% |
| Operating profit (loss) | 9901 | €41,238 | €71,223 | +€29,985 | +72.7% |
| Financial income | 75/76B | €2,049 | €3,556 | +€1,506 | +73.5% |
| Recurring financial income | 75 | €2,049 | €3,556 | +€1,506 | +73.5% |
| Financial charges | 65/66B | €2,712 | €2,666 | -€46 | -1.7% |
| Recurring financial charges | 65 | €2,712 | €2,666 | -€46 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €40,575 | €72,113 | +€31,538 | +77.7% |
| Income taxes | 67/77 | €13,933 | €23,000 | +€9,067 | +65.1% |
| Profit (loss) for the period | 9904 | €26,642 | €49,113 | +€22,471 | +84.3% |
| Profit (loss) for the period to be appropriated | 9905 | €26,642 | €49,113 | +€22,471 | +84.3% |
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 9 October 2026 via checked.be.