PAX FILMS: 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 FILMS
Largest movements
- Intangible fixed assets -€6,865
down €6,865 (-27.0%), from €25,446 to €18,582
- Cash -€1,736
down €1,736 (-64.9%), from €2,676 to €940
- Investment grants -€5,440
down €5,440 (-27.0%), from €20,165 to €14,725
- Profit (loss) carried forward -€3,809
down €3,809 (-12.1%), from -€31,444 to -€35,252
- Provisions -€1,360
down €1,360 (-27.0%), from €5,041 to €3,681
- Other debts +€1,358
up €1,358 (+20.1%), from €6,750 to €8,107
- Trade debts +€647
up €647 (+4.7%), from €13,912 to €14,559
- Gross operating margin +€9,318
up €9,318 (+93.7%), from -€9,946 to -€628
- Other operating charges -€695
no longer reported in 2025 (was €695)
- Depreciation -€416
down €416 (-10.8%), from €3,849 to €3,432
- Financial charges -€189
no longer reported in 2025 (was €189)
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €33,024 | €24,421 | -€8,604 | -26.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €25,540 | €18,582 | -€6,958 | -27.2% |
| Intangible fixed assets | 21 | €25,446 | €18,582 | -€6,865 | -27.0% |
| Tangible fixed assets | 22/27 | €94 | €0 | -€94 | -100% |
| Furniture and vehicles | 24 | €94 | €0 | -€94 | -100% |
| Current assets | 29/58 | €7,484 | €5,839 | -€1,645 | -22.0% |
| Amounts receivable after more than one year | 29 | €3,411 | €3,411 | = | 0.0% |
| Other amounts receivable | 291 | €3,411 | €3,411 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,397 | €1,488 | +€91 | +6.5% |
| Other amounts receivable | 41 | €1,397 | €1,488 | +€91 | +6.5% |
| Cash at bank and in hand | 54/58 | €2,676 | €940 | -€1,736 | -64.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €33,024 | €24,421 | -€8,604 | -26.1% |
| Equity | 10/15 | €7,322 | -€1,927 | -€9,249 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,444 | -€35,252 | -€3,809 | -12.1% |
| Investment grants | 15 | €20,165 | €14,725 | -€5,440 | -27.0% |
| Provisions and deferred taxes | 16 | €5,041 | €3,681 | -€1,360 | -27.0% |
| Deferred taxes | 168 | €5,041 | €3,681 | -€1,360 | -27.0% |
| Amounts payable | 17/49 | €20,662 | €22,667 | +€2,005 | +9.7% |
| Amounts payable within one year | 42/48 | €20,662 | €22,667 | +€2,005 | +9.7% |
| Trade debts | 44 | €13,912 | €14,559 | +€647 | +4.7% |
| Suppliers | 440/4 | €13,912 | €14,559 | +€647 | +4.7% |
| Other amounts payable | 47/48 | €6,750 | €8,107 | +€1,358 | +20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,849 | €3,432 | -€416 | -10.8% |
| Other operating charges | 640/8 | €695 | - | -€695 | |
| Gross operating margin | 9900 | -€9,946 | -€628 | +€9,318 | +93.7% |
| Operating profit (loss) | 9901 | -€14,490 | -€4,061 | +€10,429 | +72.0% |
| Financial income | 75/76B | €2,723 | €2,720 | -€3 | -0.1% |
| Recurring financial income | 75 | €2,723 | €2,720 | -€3 | -0.1% |
| Financial charges | 65/66B | €189 | - | -€189 | |
| Recurring financial charges | 65 | €189 | - | -€189 | |
| Profit (loss) for the period before taxes | 9903 | -€11,956 | -€1,341 | +€10,615 | +88.8% |
| Transfer from deferred taxes | 780 | €680 | €680 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€11,276 | -€661 | +€10,615 | +94.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,276 | -€661 | +€10,615 | +94.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.