Pavia: what changed
What changed
Pavia
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€8,843
2024 · €47,808-€38,965
Equity
€377,352
2024 · €368,509+€8,843
Cash
€32,688
2024 · €19,204+€13,484
Balance sheet total
€2.0m
2024 · €2.1m-€58,936
Largest movements
Assets
- Tangible fixed assets -€63,790
down €63,790 (-3.3%), from €1.9m to €1.9m
of which Land and buildings: -€42,526
Equity and liabilities
- Short-term financial debts -€62,500
down €62,500 (-13.7%), from €455,000 to €392,500
- Debts after one year -€47,941
down €47,941 (-5.4%), from €886,540 to €838,599
- Trade debts +€34,626
up €34,626 (+110%), from €31,585 to €66,211
Income statement
- Gross operating margin -€33,402
down €33,402 (-16.2%), from €205,830 to €172,428
- Depreciation +€6,289
up €6,289 (+6.5%), from €97,091 to €103,380
- Financial charges +€4,032
up €4,032 (+12.3%), from €32,847 to €36,879
- Taxes -€2,687
down €2,687 (-33.7%), from €7,963 to €5,277
- Other operating charges -€2,571
down €2,571 (-12.5%), from €20,620 to €18,049
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€47,808
Gross operating margin
-€33,402
Depreciation
-€6,289
Other operating charges
+€2,571
Financial income
-€499
Financial charges
-€4,032
Taxes
+€2,687
Result 2025
€8,843
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€162,959
Investment
-€39,590
Financing
-€109,885
Cash 2024
€19,204
From operations (derived)
+€162,959
Net result for the year
+€8,843
Depreciation
+€103,380
Receivables within one year
+€3,857
Deferred charges and accrued income
+€4,772
Trade debts
+€34,626
Tax, wage and social debts
+€5,035
Other debts
+€5,384
Accrued charges and deferred income
-€2,938
Investment (derived)
-€39,590
Investment in fixed assets (net)
-€39,590
Financing
-€109,885
Debts after one year
-€47,941
Current portion of long-term debt
+€555
Short-term financial debts
-€62,500
Cash 2025
€32,688
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,068,294 | €2,009,358 | -€58,936 | -2.8% |
| Fixed assets | 21/28 | €1,916,073 | €1,852,283 | -€63,790 | -3.3% |
| Tangible fixed assets | 22/27 | €1,916,073 | €1,852,283 | -€63,790 | -3.3% |
| Land and buildings | 22 | €1,698,861 | €1,656,335 | -€42,526 | -2.5% |
| Plant, machinery and equipment | 23 | €91,983 | €90,444 | -€1,539 | -1.7% |
| Furniture and vehicles | 24 | €125,229 | €105,504 | -€19,725 | -15.8% |
| Current assets | 29/58 | €152,221 | €157,075 | +€4,855 | +3.2% |
| Amounts receivable within one year | 40/41 | €123,012 | €119,155 | -€3,857 | -3.1% |
| Trade receivables | 40 | €66,824 | €89,655 | +€22,831 | +34.2% |
| Other amounts receivable | 41 | €56,189 | €29,500 | -€26,689 | -47.5% |
| Cash at bank and in hand | 54/58 | €19,204 | €32,688 | +€13,484 | +70.2% |
| Deferred charges and accrued income | 490/1 | €10,005 | €5,232 | -€4,772 | -47.7% |
| Total equity and liabilities | 10/49 | €2,068,294 | €2,009,358 | -€58,936 | -2.8% |
| Equity | 10/15 | €368,509 | €377,352 | +€8,843 | +2.4% |
| Contributions | 10/11 | €132,000 | €132,000 | = | 0.0% |
| Reserves | 13 | €1,781 | €1,781 | = | 0.0% |
| Distributable reserves | 133 | €1,781 | €1,781 | = | 0.0% |
| Profit (loss) carried forward | 14 | €234,728 | €243,571 | +€8,843 | +3.8% |
| Amounts payable | 17/49 | €1,699,785 | €1,632,006 | -€67,779 | -4.0% |
| Amounts payable after more than one year | 17 | €886,540 | €838,599 | -€47,941 | -5.4% |
| Financial debts | 170/4 | €886,540 | €838,599 | -€47,941 | -5.4% |
| Amounts payable within one year | 42/48 | €789,670 | €772,769 | -€16,900 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €47,385 | €47,941 | +€555 | +1.2% |
| Financial debts | 43 | €455,000 | €392,500 | -€62,500 | -13.7% |
| Other loans | 439 | €455,000 | €392,500 | -€62,500 | -13.7% |
| Trade debts | 44 | €31,585 | €66,211 | +€34,626 | +110% |
| Suppliers | 440/4 | €31,585 | €66,211 | +€34,626 | +110% |
| Taxes, remuneration and social security | 45 | €3,900 | €8,935 | +€5,035 | +129% |
| Taxes | 450/3 | €801 | €8,935 | +€8,134 | +1,016% |
| Remuneration and social security | 454/9 | €3,099 | €0 | -€3,099 | -100% |
| Other amounts payable | 47/48 | €251,799 | €257,183 | +€5,384 | +2.1% |
| Accrued charges and deferred income | 492/3 | €23,576 | €20,638 | -€2,938 | -12.5% |
| Non-recurring operating income | 76A | €14,876 | €0 | -€14,876 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,091 | €103,380 | +€6,289 | +6.5% |
| Other operating charges | 640/8 | €20,620 | €18,049 | -€2,571 | -12.5% |
| Gross operating margin | 9900 | €205,830 | €172,428 | -€33,402 | -16.2% |
| Operating profit (loss) | 9901 | €88,119 | €50,998 | -€37,121 | -42.1% |
| Financial income | 75/76B | €499 | €0 | -€499 | -100.0% |
| Recurring financial income | 75 | €499 | €0 | -€499 | -100.0% |
| Financial charges | 65/66B | €32,847 | €36,879 | +€4,032 | +12.3% |
| Recurring financial charges | 65 | €32,847 | €36,879 | +€4,032 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | €55,771 | €14,120 | -€41,652 | -74.7% |
| Income taxes | 67/77 | €7,963 | €5,277 | -€2,687 | -33.7% |
| Profit (loss) for the period | 9904 | €47,808 | €8,843 | -€38,965 | -81.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,808 | €8,843 | -€38,965 | -81.5% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.