Pavinbo: 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.
Pavinbo
Largest movements
- Receivables within one year -€3,094
down €3,094 (-73.8%), from €4,189 to €1,096
of which Other amounts receivable: -€2,256
- Stocks and contracts -€717
down €717 (-4.2%), from €16,910 to €16,193
- Profit (loss) carried forward -€4,373
down €4,373 (-33.4%), from -€13,077 to -€17,450
- Trade debts +€1,789
up €1,789 (+147.5%), from €1,213 to €3,003
- Other debts -€858
down €858 (-1.4%), from €63,346 to €62,488
- Write-downs +€558
new in 2025: €558
- Gross operating margin -€350
down €350 (-11.4%), from -€3,081 to -€3,431
- Financial charges +€315
up €315 (+141.6%), from €223 to €538
- Depreciation +€265
up €265 (+234.7%), from €113 to €378
- Financial income +€215
up €215 (+181.0%), from €119 to €333
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 | €70,694 | €66,633 | -€4,061 | -5.7% |
| Fixed assets | 21/28 | €1,091 | €713 | -€378 | -34.7% |
| Tangible fixed assets | 22/27 | €1,091 | €713 | -€378 | -34.7% |
| Furniture and vehicles | 24 | €1,091 | €713 | -€378 | -34.7% |
| Current assets | 29/58 | €69,603 | €65,920 | -€3,683 | -5.3% |
| Stocks and contracts in progress | 3 | €16,910 | €16,193 | -€717 | -4.2% |
| Stocks | 30/36 | €16,910 | €16,193 | -€717 | -4.2% |
| Amounts receivable within one year | 40/41 | €4,189 | €1,096 | -€3,094 | -73.8% |
| Trade receivables | 40 | €1,575 | €737 | -€838 | -53.2% |
| Other amounts receivable | 41 | €2,615 | €359 | -€2,256 | -86.3% |
| Cash at bank and in hand | 54/58 | €48,503 | €48,631 | +€128 | +0.3% |
| Total equity and liabilities | 10/49 | €70,694 | €66,633 | -€4,061 | -5.7% |
| Equity | 10/15 | €6,134 | €1,142 | -€4,992 | -81.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €620 | - | -€620 | |
| Distributable reserves | 133 | €620 | - | -€620 | |
| Profit (loss) carried forward | 14 | -€13,077 | -€17,450 | -€4,373 | -33.4% |
| Amounts payable | 17/49 | €64,559 | €65,491 | +€931 | +1.4% |
| Amounts payable within one year | 42/48 | €64,559 | €65,491 | +€931 | +1.4% |
| Trade debts | 44 | €1,213 | €3,003 | +€1,789 | +147.5% |
| Suppliers | 440/4 | €1,213 | €3,003 | +€1,789 | +147.5% |
| Other amounts payable | 47/48 | €63,346 | €62,488 | -€858 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113 | €378 | +€265 | +234.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €558 | +€558 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€3,081 | -€3,431 | -€350 | -11.4% |
| Operating profit (loss) | 9901 | -€3,581 | -€4,767 | -€1,186 | -33.1% |
| Financial income | 75/76B | €119 | €333 | +€215 | +181.0% |
| Recurring financial income | 75 | €119 | €333 | +€215 | +181.0% |
| Financial charges | 65/66B | €223 | €538 | +€315 | +141.6% |
| Recurring financial charges | 65 | €223 | €538 | +€315 | +141.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,685 | -€4,971 | -€1,286 | -34.9% |
| Income taxes | 67/77 | - | €21 | +€21 | |
| Profit (loss) for the period | 9904 | -€3,685 | -€4,992 | -€1,307 | -35.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,685 | -€4,992 | -€1,307 | -35.5% |
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 6 October 2026 via checked.be.