PAVISA: 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.
PAVISA
Largest movements
- Receivables within one year -€25,289
down €25,289 (-37.5%), from €67,441 to €42,152
of which Trade receivables: -€19,935
- Deferred charges and accrued income -€4,261
no longer reported in 2025 (was €4,261)
- Intangible fixed assets -€1,500
down €1,500 (-42.9%), from €3,500 to €2,000
- Trade debts -€30,828
down €30,828 (-57.2%), from €53,891 to €23,063
of which Suppliers: -€18,828
- Tax, wage and social debts -€1,098
down €1,098 (-18.9%), from €5,804 to €4,707
- Turnover -€54,289
down €54,289 (-46.6%), from €116,565 to €62,276
- Purchases and services -€38,790
down €38,790 (-36.2%), from €107,269 to €68,479
- Gross operating margin -€15,498
down €15,498, from €9,296 to -€6,203
- Financial income +€11,999
up €11,999 (+1176409.8%), from €1 to €12,000
of which Non-recurring financial income: +€12,000
- Taxes -€4,529
no longer reported in 2025 (was €4,529)
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 | €87,966 | €56,577 | -€31,389 | -35.7% |
| Formation expenses | 20 | €253 | €127 | -€127 | -50.0% |
| Fixed assets | 21/28 | €12,785 | €11,285 | -€1,500 | -11.7% |
| Intangible fixed assets | 21 | €3,500 | €2,000 | -€1,500 | -42.9% |
| Tangible fixed assets | 22/27 | €9,285 | €9,285 | = | 0.0% |
| Furniture and vehicles | 24 | €9,285 | €9,285 | = | 0.0% |
| Current assets | 29/58 | €74,928 | €45,166 | -€29,762 | -39.7% |
| Stocks and contracts in progress | 3 | €2,500 | €2,500 | = | 0.0% |
| Stocks | 30/36 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €67,441 | €42,152 | -€25,289 | -37.5% |
| Trade receivables | 40 | €50,048 | €30,113 | -€19,935 | -39.8% |
| Other amounts receivable | 41 | €17,393 | €12,039 | -€5,354 | -30.8% |
| Cash at bank and in hand | 54/58 | €726 | €513 | -€213 | -29.3% |
| Deferred charges and accrued income | 490/1 | €4,261 | - | -€4,261 | |
| Total equity and liabilities | 10/49 | €87,966 | €56,577 | -€31,389 | -35.7% |
| Equity | 10/15 | €28,270 | €28,808 | +€537 | +1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €545 | €578 | +€33 | +6.1% |
| Non-distributable reserves | 130/1 | €545 | €578 | +€33 | +6.1% |
| Reserves not available under the articles | 1311 | €545 | €578 | +€33 | +6.1% |
| Profit (loss) carried forward | 14 | €9,126 | €9,630 | +€504 | +5.5% |
| Amounts payable | 17/49 | €59,695 | €27,769 | -€31,926 | -53.5% |
| Amounts payable within one year | 42/48 | €59,695 | €27,769 | -€31,926 | -53.5% |
| Trade debts | 44 | €53,891 | €23,063 | -€30,828 | -57.2% |
| Suppliers | 440/4 | €26,357 | €7,528 | -€18,828 | -71.4% |
| Bills of exchange payable | 441 | €27,535 | €15,535 | -€12,000 | -43.6% |
| Taxes, remuneration and social security | 45 | €5,804 | €4,707 | -€1,098 | -18.9% |
| Taxes | 450/3 | €5,804 | €4,707 | -€1,098 | -18.9% |
| Turnover | 70 | €116,565 | €62,276 | -€54,289 | -46.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €107,269 | €68,479 | -€38,790 | -36.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €627 | €1,627 | +€1,000 | +159.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,332 | +€2,332 | |
| Other operating charges | 640/8 | €3,158 | €352 | -€2,806 | -88.8% |
| Gross operating margin | 9900 | €9,296 | -€6,203 | -€15,498 | |
| Operating profit (loss) | 9901 | €5,511 | -€10,514 | -€16,025 | |
| Financial income | 75/76B | €1 | €12,000 | +€11,999 | +1176409.8% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -60.8% |
| Non-recurring financial income | 76B | - | €12,000 | +€12,000 | |
| Financial charges | 65/66B | €580 | €949 | +€369 | +63.5% |
| Recurring financial charges | 65 | €262 | €586 | +€324 | +123.3% |
| Non-recurring financial charges | 66B | €318 | €363 | +€45 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €4,931 | €537 | -€4,394 | -89.1% |
| Income taxes | 67/77 | €4,529 | - | -€4,529 | |
| Profit (loss) for the period | 9904 | €403 | €537 | +€135 | +33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €403 | €537 | +€135 | +33.4% |
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 10 October 2026 via checked.be.