PAX82: 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.
PAX82
Largest movements
- Tangible fixed assets -€91,212
down €91,212 (-2.3%), from €3.9m to €3.8m
- Debts after one year -€200,399
down €200,399 (-7.2%), from €2.8m to €2.6m
- Reserves +€144,917
up €144,917 (+41.7%), from €347,767 to €492,684
- Gross operating margin +€3,570
up €3,570 (+1.1%), from €327,046 to €330,616
- Financial charges -€3,330
down €3,330 (-6.9%), from €48,241 to €44,911
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 | €3,946,823 | €3,887,417 | -€59,406 | -1.5% |
| Fixed assets | 21/28 | €3,933,410 | €3,842,198 | -€91,212 | -2.3% |
| Tangible fixed assets | 22/27 | €3,933,410 | €3,842,198 | -€91,212 | -2.3% |
| Land and buildings | 22 | €3,933,410 | €3,842,198 | -€91,212 | -2.3% |
| Current assets | 29/58 | €13,413 | €45,219 | +€31,806 | +237% |
| Amounts receivable within one year | 40/41 | €3,484 | €41,205 | +€37,721 | +1,083% |
| Trade receivables | 40 | €2,974 | €36,978 | +€34,004 | +1,143% |
| Other amounts receivable | 41 | €510 | €4,227 | +€3,717 | +729% |
| Cash at bank and in hand | 54/58 | €9,929 | €4,014 | -€5,915 | -59.6% |
| Total equity and liabilities | 10/49 | €3,946,823 | €3,887,417 | -€59,406 | -1.5% |
| Equity | 10/15 | €947,767 | €1,092,684 | +€144,917 | +15.3% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €347,767 | €492,684 | +€144,917 | +41.7% |
| Distributable reserves | 133 | €347,767 | €492,684 | +€144,917 | +41.7% |
| Amounts payable | 17/49 | €2,999,056 | €2,794,733 | -€204,323 | -6.8% |
| Amounts payable after more than one year | 17 | €2,772,770 | €2,572,371 | -€200,399 | -7.2% |
| Financial debts | 170/4 | €2,772,770 | €2,572,371 | -€200,399 | -7.2% |
| Amounts payable within one year | 42/48 | €226,286 | €216,862 | -€9,424 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €198,580 | €200,399 | +€1,819 | +0.9% |
| Trade debts | 44 | €6,689 | - | -€6,689 | |
| Suppliers | 440/4 | €6,689 | - | -€6,689 | |
| Taxes, remuneration and social security | 45 | €21,017 | €16,463 | -€4,554 | -21.7% |
| Taxes | 450/3 | €21,017 | €16,463 | -€4,554 | -21.7% |
| Accrued charges and deferred income | 492/3 | - | €5,500 | +€5,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,212 | €91,212 | = | 0.0% |
| Other operating charges | 640/8 | €1,218 | €1,270 | +€52 | +4.3% |
| Gross operating margin | 9900 | €327,046 | €330,616 | +€3,570 | +1.1% |
| Operating profit (loss) | 9901 | €234,616 | €238,134 | +€3,518 | +1.5% |
| Financial charges | 65/66B | €48,241 | €44,911 | -€3,330 | -6.9% |
| Recurring financial charges | 65 | €48,241 | €44,911 | -€3,330 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €186,375 | €193,223 | +€6,848 | +3.7% |
| Income taxes | 67/77 | €46,594 | €48,306 | +€1,712 | +3.7% |
| Profit (loss) for the period | 9904 | €139,781 | €144,917 | +€5,136 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €139,781 | €144,917 | +€5,136 | +3.7% |
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 16 October 2026 via checked.be.