PAX Event: 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.
PAX Event
Largest movements
- Receivables within one year -€11,767
down €11,767 (-46.9%), from €25,110 to €13,342
of which Other amounts receivable: -€11,630
- Tangible fixed assets -€9,218
down €9,218 (-13.1%), from €70,242 to €61,024
of which Other tangible fixed assets: -€5,253
- Cash +€3,916
up €3,916 (+175%), from €2,232 to €6,148
mainly Other debts (+€41,594) and Depreciation (+€12,142)
- Other debts +€41,594
up €41,594 (+172%), from €24,214 to €65,809
- Profit (loss) carried forward -€19,488
down €19,488 (-18.2%), from -€107,134 to -€126,622
- Trade debts -€16,020
down €16,020 (-20.6%), from €77,700 to €61,680
- Debts after one year -€15,835
down €15,835 (-23.2%), from €68,287 to €52,452
of which Financial debts: -€14,771
- Accrued charges and deferred income -€5,049
down €5,049 (-25.0%), from €20,234 to €15,185
- Gross operating margin +€69,289
up €69,289, from -€68,599 to €690
- Staff costs -€20,620
down €20,620 (-98.8%), from €20,861 to €241
- Depreciation +€3,729
up €3,729 (+44.3%), from €8,413 to €12,142
- Other operating charges -€2,165
down €2,165 (-42.5%), from €5,091 to €2,926
- Financial income -€747
down €747 (-100%), from €747 to €0
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 | €104,594 | €87,530 | -€17,064 | -16.3% |
| Fixed assets | 21/28 | €71,093 | €61,625 | -€9,468 | -13.3% |
| Intangible fixed assets | 21 | €851 | €601 | -€250 | -29.4% |
| Tangible fixed assets | 22/27 | €70,242 | €61,024 | -€9,218 | -13.1% |
| Plant, machinery and equipment | 23 | €4,431 | €2,714 | -€1,717 | -38.8% |
| Furniture and vehicles | 24 | €27,313 | €25,065 | -€2,248 | -8.2% |
| Other tangible fixed assets | 26 | €38,498 | €33,245 | -€5,253 | -13.6% |
| Current assets | 29/58 | €33,501 | €25,905 | -€7,596 | -22.7% |
| Stocks and contracts in progress | 3 | €5,474 | €5,521 | +€47 | +0.9% |
| Stocks | 30/36 | €5,474 | €5,521 | +€47 | +0.9% |
| Amounts receivable within one year | 40/41 | €25,110 | €13,342 | -€11,767 | -46.9% |
| Trade receivables | 40 | €8,936 | €8,799 | -€137 | -1.5% |
| Other amounts receivable | 41 | €16,174 | €4,544 | -€11,630 | -71.9% |
| Cash at bank and in hand | 54/58 | €2,232 | €6,148 | +€3,916 | +175% |
| Deferred charges and accrued income | 490/1 | €686 | €894 | +€208 | +30.3% |
| Total equity and liabilities | 10/49 | €104,594 | €87,530 | -€17,064 | -16.3% |
| Equity | 10/15 | -€104,134 | -€123,622 | -€19,488 | -18.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€107,134 | -€126,622 | -€19,488 | -18.2% |
| Amounts payable | 17/49 | €208,728 | €211,153 | +€2,424 | +1.2% |
| Amounts payable after more than one year | 17 | €68,287 | €52,452 | -€15,835 | -23.2% |
| Financial debts | 170/4 | €52,442 | €37,670 | -€14,771 | -28.2% |
| Other amounts payable | 178/9 | €15,845 | €14,782 | -€1,063 | -6.7% |
| Amounts payable within one year | 42/48 | €120,208 | €143,516 | +€23,308 | +19.4% |
| Current portion of amounts payable after more than one year | 42 | €15,462 | €16,021 | +€559 | +3.6% |
| Financial debts | 43 | €313 | €5 | -€308 | -98.3% |
| Credit institutions | 430/8 | €313 | €5 | -€308 | -98.3% |
| Trade debts | 44 | €77,700 | €61,680 | -€16,020 | -20.6% |
| Suppliers | 440/4 | €77,700 | €61,680 | -€16,020 | -20.6% |
| Taxes, remuneration and social security | 45 | €2,518 | €0 | -€2,518 | -100% |
| Taxes | 450/3 | €283 | €0 | -€283 | -100% |
| Remuneration and social security | 454/9 | €2,234 | €0 | -€2,234 | -100% |
| Other amounts payable | 47/48 | €24,214 | €65,809 | +€41,594 | +172% |
| Accrued charges and deferred income | 492/3 | €20,234 | €15,185 | -€5,049 | -25.0% |
| Remuneration, social security and pensions | 62 | €20,861 | €241 | -€20,620 | -98.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,413 | €12,142 | +€3,729 | +44.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €805 | €297 | -€508 | -63.1% |
| Other operating charges | 640/8 | €5,091 | €2,926 | -€2,165 | -42.5% |
| Gross operating margin | 9900 | -€68,599 | €690 | +€69,289 | |
| Operating profit (loss) | 9901 | -€103,769 | -€14,916 | +€88,853 | +85.6% |
| Financial income | 75/76B | €747 | €0 | -€747 | -100% |
| Recurring financial income | 75 | €747 | €0 | -€747 | -100% |
| Financial charges | 65/66B | €4,113 | €4,572 | +€459 | +11.2% |
| Recurring financial charges | 65 | €4,113 | €4,572 | +€459 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | -€107,134 | -€19,488 | +€87,647 | +81.8% |
| Profit (loss) for the period | 9904 | -€107,134 | -€19,488 | +€87,647 | +81.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€107,134 | -€19,488 | +€87,647 | +81.8% |
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 15 October 2026 via checked.be.