PAVIA: 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.
PAVIA
Largest movements
- Tangible fixed assets -€34,017
down €34,017 (-7.0%), from €486,825 to €452,807
- Cash +€24,231
up €24,231 (+12.3%), from €197,343 to €221,574
mainly Depreciation (+€34,017) and Other debts (+€10,809)
- Reserves -€11,560
down €11,560 (-7.3%), from €157,320 to €145,760
of which Tax-exempt reserves: -€11,560
- Other debts +€10,809
up €10,809 (+7.8%), from €139,015 to €149,823
- Accrued charges and deferred income -€9,296
down €9,296 (-54.6%), from €17,016 to €7,720
- Other operating charges +€535
up €535 (+12.4%), from €4,335 to €4,870
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 | €684,168 | €674,382 | -€9,787 | -1.4% |
| Fixed assets | 21/28 | €486,825 | €452,807 | -€34,017 | -7.0% |
| Tangible fixed assets | 22/27 | €486,825 | €452,807 | -€34,017 | -7.0% |
| Land and buildings | 22 | €486,825 | €452,807 | -€34,017 | -7.0% |
| Current assets | 29/58 | €197,343 | €221,574 | +€24,231 | +12.3% |
| Cash at bank and in hand | 54/58 | €197,343 | €221,574 | +€24,231 | +12.3% |
| Total equity and liabilities | 10/49 | €684,168 | €674,382 | -€9,787 | -1.4% |
| Equity | 10/15 | €126,018 | €120,456 | -€5,562 | -4.4% |
| Contributions | 10/11 | €193,000 | €193,000 | = | 0.0% |
| Capital | 10 | €193,000 | €193,000 | = | 0.0% |
| Issued capital | 100 | €193,000 | €193,000 | = | 0.0% |
| Reserves | 13 | €157,320 | €145,760 | -€11,560 | -7.3% |
| Non-distributable reserves | 130/1 | €163 | €163 | = | 0.0% |
| Legal reserve | 130 | €163 | €163 | = | 0.0% |
| Tax-exempt reserves | 132 | €153,360 | €141,800 | -€11,560 | -7.5% |
| Distributable reserves | 133 | €3,798 | €3,798 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€224,302 | -€218,304 | +€5,998 | +2.7% |
| Provisions and deferred taxes | 16 | €79,006 | €73,053 | -€5,953 | -7.5% |
| Deferred taxes | 168 | €79,006 | €73,053 | -€5,953 | -7.5% |
| Amounts payable | 17/49 | €479,144 | €480,873 | +€1,729 | +0.4% |
| Amounts payable after more than one year | 17 | €323,000 | €323,000 | = | 0.0% |
| Other amounts payable | 178/9 | €323,000 | €323,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €139,129 | €150,153 | +€11,024 | +7.9% |
| Trade debts | 44 | €114 | €330 | +€216 | +189.2% |
| Suppliers | 440/4 | €114 | €330 | +€216 | +189.2% |
| Other amounts payable | 47/48 | €139,015 | €149,823 | +€10,809 | +7.8% |
| Accrued charges and deferred income | 492/3 | €17,016 | €7,720 | -€9,296 | -54.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,017 | €34,017 | = | 0.0% |
| Other operating charges | 640/8 | €4,335 | €4,870 | +€535 | +12.4% |
| Gross operating margin | 9900 | €35,389 | €35,563 | +€174 | +0.5% |
| Operating profit (loss) | 9901 | -€2,964 | -€3,325 | -€361 | -12.2% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €8,284 | €8,190 | -€94 | -1.1% |
| Recurring financial charges | 65 | €8,284 | €8,190 | -€94 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | -€11,248 | -€11,515 | -€267 | -2.4% |
| Transfer from deferred taxes | 780 | €5,953 | €5,953 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€5,295 | -€5,562 | -€267 | -5.0% |
| Transfer from tax-exempt reserves | 789 | €11,560 | €11,560 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,265 | €5,998 | -€267 | -4.3% |
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 1 October 2026 via checked.be.