Pawan Gems: 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.
Pawan Gems
Largest movements
- Stocks and contracts -€1.8m
down €1.8m (-86.5%), from €2.0m to €275,534
- Current investments -€648,517
down €648,517 (-33.7%), from €1.9m to €1.3m
- Receivables within one year +€521,584
up €521,584 (+372%), from €140,163 to €661,747
of which Trade receivables: +€495,741
- Trade debts -€2.1m
down €2.1m (-99.4%), from €2.1m to €13,396
- Reserves +€156,084
up €156,084 (+6.8%), from €2.3m to €2.4m
of which Distributable reserves: +€156,084
- Gross operating margin +€402,177
up €402,177, from -€21,557 to €380,620
- Financial charges +€271,196
up €271,196 (+8,060%), from €3,365 to €274,560
- Financial income +€91,380
up €91,380 (+1,326%), from €6,892 to €98,272
- Taxes +€36,568
up €36,568 (+566%), from €6,463 to €43,031
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.
Derived cash bridge
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 | €4,562,777 | €2,646,333 | -€1.9m | -42.0% |
| Fixed assets | 21/28 | €69,739 | €68,170 | -€1,569 | -2.2% |
| Tangible fixed assets | 22/27 | €69,739 | €68,170 | -€1,569 | -2.2% |
| Land and buildings | 22 | €65,742 | €64,331 | -€1,411 | -2.1% |
| Plant, machinery and equipment | 23 | €1,121 | €985 | -€136 | -12.1% |
| Furniture and vehicles | 24 | €2,876 | €2,854 | -€22 | -0.8% |
| Current assets | 29/58 | €4,493,038 | €2,578,163 | -€1.9m | -42.6% |
| Stocks and contracts in progress | 3 | €2,045,857 | €275,534 | -€1.8m | -86.5% |
| Stocks | 30/36 | €2,045,857 | €275,534 | -€1.8m | -86.5% |
| Amounts receivable within one year | 40/41 | €140,163 | €661,747 | +€521,584 | +372% |
| Trade receivables | 40 | €136,688 | €632,430 | +€495,741 | +363% |
| Other amounts receivable | 41 | €3,475 | €29,317 | +€25,843 | +744% |
| Current investments | 50/53 | €1,925,113 | €1,276,596 | -€648,517 | -33.7% |
| Cash at bank and in hand | 54/58 | €381,905 | €364,286 | -€17,619 | -4.6% |
| Total equity and liabilities | 10/49 | €4,562,777 | €2,646,333 | -€1.9m | -42.0% |
| Equity | 10/15 | €2,287,686 | €2,443,770 | +€156,084 | +6.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,281,486 | €2,437,570 | +€156,084 | +6.8% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €2,279,631 | €2,435,715 | +€156,084 | +6.8% |
| Amounts payable | 17/49 | €2,275,091 | €202,563 | -€2.1m | -91.1% |
| Amounts payable within one year | 42/48 | €2,275,091 | €202,563 | -€2.1m | -91.1% |
| Trade debts | 44 | €2,110,179 | €13,396 | -€2.1m | -99.4% |
| Suppliers | 440/4 | €2,110,179 | €13,396 | -€2.1m | -99.4% |
| Taxes, remuneration and social security | 45 | €12,753 | €41,986 | +€29,234 | +229% |
| Taxes | 450/3 | €4,800 | €33,003 | +€28,203 | +588% |
| Remuneration and social security | 454/9 | €7,953 | €8,983 | +€1,031 | +13.0% |
| Other amounts payable | 47/48 | €152,159 | €147,181 | -€4,979 | -3.3% |
| Remuneration, social security and pensions | 62 | €57 | - | -€57 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,626 | €2,786 | +€160 | +6.1% |
| Other operating charges | 640/8 | €2,367 | €2,431 | +€64 | +2.7% |
| Gross operating margin | 9900 | -€21,557 | €380,620 | +€402,177 | |
| Operating profit (loss) | 9901 | -€26,606 | €375,403 | +€402,010 | |
| Financial income | 75/76B | €6,892 | €98,272 | +€91,380 | +1,326% |
| Recurring financial income | 75 | €6,892 | €98,272 | +€91,380 | +1,326% |
| Financial charges | 65/66B | €3,365 | €274,560 | +€271,196 | +8,060% |
| Recurring financial charges | 65 | €3,365 | €274,560 | +€271,196 | +8,060% |
| Profit (loss) for the period before taxes | 9903 | -€23,079 | €199,115 | +€222,194 | |
| Income taxes | 67/77 | €6,463 | €43,031 | +€36,568 | +566% |
| Profit (loss) for the period | 9904 | -€29,542 | €156,084 | +€185,626 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,542 | €156,084 | +€185,626 |
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 23 October 2026 via checked.be.