PAVX: 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.
PAVX
Largest movements
- Cash +€80,347
up €80,347 (+263.6%), from €30,483 to €110,830
mainly Net result for the year (+€65,014) and Other debts (+€35,000)
- Receivables within one year -€4,652
down €4,652 (-13.5%), from €34,558 to €29,906
of which Other amounts receivable: -€5,895
- Other debts +€35,000
new in 2025: €35,000
- Profit (loss) carried forward +€30,014
up €30,014 (+53.2%), from €56,366 to €86,379
- Tax, wage and social debts +€9,853
up €9,853 (+163.7%), from €6,019 to €15,872
- Gross operating margin +€43,914
up €43,914 (+97.8%), from €44,920 to €88,834
- Taxes +€13,752
up €13,752 (+139.2%), from €9,879 to €23,632
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 | €65,625 | €141,017 | +€75,392 | +114.9% |
| Fixed assets | 21/28 | €584 | €281 | -€303 | -51.8% |
| Tangible fixed assets | 22/27 | €584 | €281 | -€303 | -51.8% |
| Furniture and vehicles | 24 | €584 | €281 | -€303 | -51.8% |
| Current assets | 29/58 | €65,041 | €140,736 | +€75,695 | +116.4% |
| Amounts receivable within one year | 40/41 | €34,558 | €29,906 | -€4,652 | -13.5% |
| Trade receivables | 40 | €9,435 | €10,678 | +€1,243 | +13.2% |
| Other amounts receivable | 41 | €25,123 | €19,228 | -€5,895 | -23.5% |
| Cash at bank and in hand | 54/58 | €30,483 | €110,830 | +€80,347 | +263.6% |
| Total equity and liabilities | 10/49 | €65,625 | €141,017 | +€75,392 | +114.9% |
| Equity | 10/15 | €59,366 | €89,379 | +€30,014 | +50.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,366 | €86,379 | +€30,014 | +53.2% |
| Amounts payable | 17/49 | €6,260 | €51,638 | +€45,378 | +724.9% |
| Amounts payable within one year | 42/48 | €6,260 | €51,638 | +€45,378 | +724.9% |
| Trade debts | 44 | €241 | €765 | +€525 | +218.3% |
| Suppliers | 440/4 | €241 | €765 | +€525 | +218.3% |
| Taxes, remuneration and social security | 45 | €6,019 | €15,872 | +€9,853 | +163.7% |
| Taxes | 450/3 | €6,019 | €15,872 | +€9,853 | +163.7% |
| Other amounts payable | 47/48 | - | €35,000 | +€35,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €303 | €303 | -€0 | 0.0% |
| Other operating charges | 640/8 | €513 | €341 | -€172 | -33.6% |
| Gross operating margin | 9900 | €44,920 | €88,834 | +€43,914 | +97.8% |
| Operating profit (loss) | 9901 | €44,104 | €88,191 | +€44,087 | +100.0% |
| Financial income | 75/76B | €240 | €532 | +€291 | +121.3% |
| Recurring financial income | 75 | €240 | €532 | +€291 | +121.3% |
| Financial charges | 65/66B | €95 | €77 | -€19 | -19.5% |
| Recurring financial charges | 65 | €95 | €77 | -€19 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €44,249 | €88,645 | +€44,397 | +100.3% |
| Income taxes | 67/77 | €9,879 | €23,632 | +€13,752 | +139.2% |
| Profit (loss) for the period | 9904 | €34,369 | €65,014 | +€30,644 | +89.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,369 | €65,014 | +€30,644 | +89.2% |
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 4 October 2026 via checked.be.