PAVYCAL: 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.
PAVYCAL
Largest movements
- Cash +€416,344
up €416,344 (+1494.4%), from €27,859 to €444,204
mainly Net result for the year (+€531,010) and Investment in fixed assets (net) (+€120,779)
- Tangible fixed assets -€157,342
down €157,342 (-18.8%), from €834,946 to €677,604
of which Land and buildings: -€157,398
- Receivables within one year +€13,477
new in 2024: €13,477
- Profit (loss) carried forward +€365,868
up €365,868, from -€365,868 to €0
- Other debts -€249,903
down €249,903 (-96.9%), from €257,848 to €7,945
- Reserves +€165,142
up €165,142 (+91.9%), from €179,748 to €344,890
of which Distributable reserves: +€177,712
- Gross operating margin +€642,984
up €642,984 (+2341.1%), from €27,465 to €670,449
- Taxes +€88,554
up €88,554 (+50340.6%), from €176 to €88,730
- Depreciation -€19,109
down €19,109 (-34.3%), from €55,672 to €36,563
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €865,897 | €1,138,221 | +€272,325 | +31.5% |
| Fixed assets | 21/28 | €834,946 | €677,604 | -€157,342 | -18.8% |
| Tangible fixed assets | 22/27 | €834,946 | €677,604 | -€157,342 | -18.8% |
| Land and buildings | 22 | €833,734 | €676,335 | -€157,398 | -18.9% |
| Plant, machinery and equipment | 23 | €1,213 | €0 | -€1,213 | -100.0% |
| Furniture and vehicles | 24 | €0 | €1,269 | +€1,269 | |
| Current assets | 29/58 | €30,950 | €460,617 | +€429,667 | +1388.3% |
| Amounts receivable within one year | 40/41 | - | €13,477 | +€13,477 | |
| Other amounts receivable | 41 | - | €13,477 | +€13,477 | |
| Cash at bank and in hand | 54/58 | €27,859 | €444,204 | +€416,344 | +1494.4% |
| Deferred charges and accrued income | 490/1 | €3,091 | €2,936 | -€154 | -5.0% |
| Total equity and liabilities | 10/49 | €865,897 | €1,138,221 | +€272,325 | +31.5% |
| Equity | 10/15 | €538,880 | €1,069,890 | +€531,010 | +98.5% |
| Contributions | 10/11 | €725,000 | €725,000 | = | 0.0% |
| Capital | 10 | €725,000 | €725,000 | = | 0.0% |
| Issued capital | 100 | €725,000 | €725,000 | = | 0.0% |
| Reserves | 13 | €179,748 | €344,890 | +€165,142 | +91.9% |
| Non-distributable reserves | 130/1 | €3,770 | €3,770 | = | 0.0% |
| Legal reserve | 130 | €3,770 | €3,770 | = | 0.0% |
| Tax-exempt reserves | 132 | €175,978 | €163,408 | -€12,570 | -7.1% |
| Distributable reserves | 133 | - | €177,712 | +€177,712 | |
| Profit (loss) carried forward | 14 | -€365,868 | €0 | +€365,868 | |
| Provisions and deferred taxes | 16 | €58,659 | €54,469 | -€4,190 | -7.1% |
| Deferred taxes | 168 | €58,659 | €54,469 | -€4,190 | -7.1% |
| Amounts payable | 17/49 | €268,357 | €13,862 | -€254,495 | -94.8% |
| Amounts payable within one year | 42/48 | €267,897 | €13,862 | -€254,035 | -94.8% |
| Trade debts | 44 | €9,716 | €5,917 | -€3,799 | -39.1% |
| Suppliers | 440/4 | €9,716 | €5,917 | -€3,799 | -39.1% |
| Taxes, remuneration and social security | 45 | €334 | €0 | -€334 | -100.0% |
| Taxes | 450/3 | €334 | €0 | -€334 | -100.0% |
| Other amounts payable | 47/48 | €257,848 | €7,945 | -€249,903 | -96.9% |
| Accrued charges and deferred income | 492/3 | €460 | €0 | -€460 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,672 | €36,563 | -€19,109 | -34.3% |
| Other operating charges | 640/8 | €11,932 | €10,237 | -€1,695 | -14.2% |
| Gross operating margin | 9900 | €27,465 | €670,449 | +€642,984 | +2341.1% |
| Operating profit (loss) | 9901 | -€40,139 | €623,648 | +€663,787 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €9,801 | €8,098 | -€1,703 | -17.4% |
| Recurring financial charges | 65 | €9,801 | €8,098 | -€1,703 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | -€49,940 | €615,550 | +€665,490 | |
| Transfer from deferred taxes | 780 | €4,190 | €4,190 | = | 0.0% |
| Income taxes | 67/77 | €176 | €88,730 | +€88,554 | +50340.6% |
| Profit (loss) for the period | 9904 | -€45,926 | €531,010 | +€576,936 | |
| Transfer from tax-exempt reserves | 789 | €12,570 | €12,570 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,356 | €543,580 | +€576,936 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.