PAVILJOEN: 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.
PAVILJOEN
Largest movements
- Cash -€61,919
down €61,919 (-35.5%), from €174,238 to €112,319
mainly Receivables within one year (-€46,810) and Debts after one year (-€16,322)
- Receivables within one year +€46,810
up €46,810 (+73.9%), from €63,370 to €110,179
of which Other amounts receivable: +€46,861
- Tangible fixed assets -€15,689
down €15,689 (-4.9%), from €319,087 to €303,398
of which Land and buildings: -€16,185
- Debts after one year -€16,322
down €16,322 (-13.9%), from €117,385 to €101,063
- Profit (loss) carried forward -€7,085
down €7,085 (-4.6%), from €152,855 to €145,771
- Gross operating margin -€222,620
down €222,620 (-94.3%), from €236,157 to €13,537
- Taxes -€64,741
down €64,741 (-99.4%), from €65,154 to €413
- Financial income +€3,582
up €3,582 (+2132.3%), from €168 to €3,750
- Depreciation -€2,553
down €2,553 (-11.5%), from €22,252 to €19,700
- Other operating charges -€2,483
down €2,483 (-27.9%), from €8,884 to €6,401
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 | €556,695 | €529,027 | -€27,667 | -5.0% |
| Fixed assets | 21/28 | €319,087 | €303,398 | -€15,689 | -4.9% |
| Tangible fixed assets | 22/27 | €319,087 | €303,398 | -€15,689 | -4.9% |
| Land and buildings | 22 | €303,203 | €287,018 | -€16,185 | -5.3% |
| Plant, machinery and equipment | 23 | €11,986 | €10,587 | -€1,399 | -11.7% |
| Furniture and vehicles | 24 | €3,898 | €5,792 | +€1,894 | +48.6% |
| Current assets | 29/58 | €237,608 | €225,630 | -€11,978 | -5.0% |
| Amounts receivable within one year | 40/41 | €63,370 | €110,179 | +€46,810 | +73.9% |
| Trade receivables | 40 | €11,481 | €11,429 | -€52 | -0.5% |
| Other amounts receivable | 41 | €51,889 | €98,750 | +€46,861 | +90.3% |
| Cash at bank and in hand | 54/58 | €174,238 | €112,319 | -€61,919 | -35.5% |
| Deferred charges and accrued income | 490/1 | - | €3,131 | +€3,131 | |
| Total equity and liabilities | 10/49 | €556,695 | €529,027 | -€27,667 | -5.0% |
| Equity | 10/15 | €381,890 | €372,956 | -€8,933 | -2.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Contributions outside capital | 11 | €2,000 | €2,000 | = | 0.0% |
| Other | 1109/19 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €227,034 | €225,186 | -€1,849 | -0.8% |
| Tax-exempt reserves | 132 | €14,437 | €12,588 | -€1,849 | -12.8% |
| Distributable reserves | 133 | €212,597 | €212,597 | = | 0.0% |
| Profit (loss) carried forward | 14 | €152,855 | €145,771 | -€7,085 | -4.6% |
| Provisions and deferred taxes | 16 | €6,012 | €1,610 | -€4,401 | -73.2% |
| Deferred taxes | 168 | €6,012 | €1,610 | -€4,401 | -73.2% |
| Amounts payable | 17/49 | €168,794 | €154,461 | -€14,333 | -8.5% |
| Amounts payable after more than one year | 17 | €117,385 | €101,063 | -€16,322 | -13.9% |
| Financial debts | 170/4 | €117,385 | €101,063 | -€16,322 | -13.9% |
| Amounts payable within one year | 42/48 | €51,408 | €52,648 | +€1,239 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €15,877 | €16,322 | +€445 | +2.8% |
| Trade debts | 44 | €975 | €166 | -€810 | -83.0% |
| Suppliers | 440/4 | €975 | €166 | -€810 | -83.0% |
| Taxes, remuneration and social security | 45 | €10,540 | €10,567 | +€28 | +0.3% |
| Taxes | 450/3 | €10,540 | €10,567 | +€28 | +0.3% |
| Other amounts payable | 47/48 | €24,016 | €25,593 | +€1,576 | +6.6% |
| Accrued charges and deferred income | 492/3 | - | €750 | +€750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,252 | €19,700 | -€2,553 | -11.5% |
| Other operating charges | 640/8 | €8,884 | €6,401 | -€2,483 | -27.9% |
| Gross operating margin | 9900 | €236,157 | €13,537 | -€222,620 | -94.3% |
| Operating profit (loss) | 9901 | €205,021 | -€12,564 | -€217,585 | |
| Financial income | 75/76B | €168 | €3,750 | +€3,582 | +2132.3% |
| Recurring financial income | 75 | €168 | €3,750 | +€3,582 | +2132.3% |
| Financial charges | 65/66B | €4,502 | €4,108 | -€394 | -8.8% |
| Recurring financial charges | 65 | €4,502 | €4,108 | -€394 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €200,687 | -€12,922 | -€213,609 | |
| Transfer from deferred taxes | 780 | €4,401 | €4,401 | = | 0.0% |
| Income taxes | 67/77 | €65,154 | €413 | -€64,741 | -99.4% |
| Profit (loss) for the period | 9904 | €139,934 | -€8,933 | -€148,867 | |
| Transfer from tax-exempt reserves | 789 | €1,849 | €1,849 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €141,782 | -€7,085 | -€148,867 |
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 11 October 2026 via checked.be.