Paycover: 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.
What changed
Paycover
NACE 88.999, Other social work without accommodation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€420,619
2024 · €359,580+€61,039
Equity
€3.9m
2024 · €3.5m+€420,619
Cash
€12.2m
2024 · €13.4m-€1.1m
Balance sheet total
€15.1m
2024 · €15.8m-€751,317
Largest movements
Assets
- Cash -€1.1m
down €1.1m (-8.5%), from €13.4m to €12.2m
mainly Debts within one year (-€1.2m) and Current investments (-€474,200)
- Current investments +€474,200
up €474,200 (+47.1%), from €1.0m to €1.5m
Equity and liabilities
- Debts within one year -€1.2m
down €1.2m (-9.6%), from €12.3m to €11.1m
of which Advances received: -€1.3m
- Profit (loss) carried forward +€420,619
up €420,619 (+12.2%), from €3.5m to €3.9m
Income statement
- Staff costs -€73,303
down €73,303 (-3.4%), from €2.1m to €2.1m
- Gross operating margin -€27,516
down €27,516 (-1.0%), from €2.6m to €2.6m
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.
Result 2024
€359,580
Gross operating margin
-€27,516
Staff costs
+€73,303
Depreciation
-€23,723
Write-downs
-€18,828
Other operating charges
+€17,768
Other operating items
+€61,021
Financial income
-€15,546
Financial charges
-€8,318
Taxes
+€2,879
Result 2025
€420,619
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€638,025
Investment
-€499,385
Financing
€0
Cash 2024
€13.4m
From operations (derived)
-€638,025
Net result for the year
+€420,619
Depreciation
+€139,022
Receivables after one year
+€51,577
Receivables within one year
-€46,300
Deferred charges and accrued income
-€31,008
Debts within one year
-€1.2m
Accrued charges and deferred income
+€7,716
Investment (derived)
-€499,385
Investment in fixed assets (net)
-€25,185
Current investments
-€474,200
Cash 2025
€12.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,837,211 | €15,085,895 | -€751,317 | -4.7% |
| Fixed assets | 21/28 | €703,891 | €590,055 | -€113,837 | -16.2% |
| Intangible fixed assets | 21 | €13,620 | €3,220 | -€10,400 | -76.4% |
| Tangible fixed assets | 22/27 | €545,922 | €431,084 | -€114,838 | -21.0% |
| Furniture and vehicles | 24 | €297,521 | €213,897 | -€83,624 | -28.1% |
| Other tangible fixed assets | 26 | €248,400 | €217,187 | -€31,213 | -12.6% |
| Financial fixed assets | 28 | €144,350 | €155,751 | +€11,401 | +7.9% |
| Current assets | 29/58 | €15,133,320 | €14,495,840 | -€637,480 | -4.2% |
| Amounts receivable after more than one year | 29 | €164,217 | €112,639 | -€51,577 | -31.4% |
| Other amounts receivable | 291 | €164,217 | €112,639 | -€51,577 | -31.4% |
| Amounts receivable within one year | 40/41 | €581,018 | €627,318 | +€46,300 | +8.0% |
| Trade receivables | 40 | €529,698 | €563,846 | +€34,148 | +6.4% |
| Other amounts receivable | 41 | €51,320 | €63,472 | +€12,151 | +23.7% |
| Current investments | 50/53 | €1,005,981 | €1,480,181 | +€474,200 | +47.1% |
| Cash at bank and in hand | 54/58 | €13,350,705 | €12,213,295 | -€1.1m | -8.5% |
| Deferred charges and accrued income | 490/1 | €31,398 | €62,407 | +€31,008 | +98.8% |
| Total equity and liabilities | 10/49 | €15,837,211 | €15,085,895 | -€751,317 | -4.7% |
| Equity | 10/15 | €3,456,909 | €3,877,528 | +€420,619 | +12.2% |
| Profit (loss) carried forward | 14 | €3,456,909 | €3,877,528 | +€420,619 | +12.2% |
| Provisions and deferred taxes | 16 | €59,721 | €59,721 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €59,721 | €59,721 | = | 0.0% |
| Other liabilities and charges | 164/5 | €59,721 | €59,721 | = | 0.0% |
| Amounts payable | 17/49 | €12,320,582 | €11,148,646 | -€1.2m | -9.5% |
| Amounts payable within one year | 42/48 | €12,293,495 | €11,113,843 | -€1.2m | -9.6% |
| Financial debts | 43 | €1 | €31 | +€30 | +4,095% |
| Credit institutions | 430/8 | €1 | €31 | +€30 | +4,095% |
| Trade debts | 44 | €90,648 | €99,788 | +€9,140 | +10.1% |
| Suppliers | 440/4 | €90,648 | €99,788 | +€9,140 | +10.1% |
| Advances received on contracts in progress | 46 | €11,016,893 | €9,732,824 | -€1.3m | -11.7% |
| Taxes, remuneration and social security | 45 | €340,733 | €317,235 | -€23,498 | -6.9% |
| Taxes | 450/3 | €75,266 | €72,413 | -€2,853 | -3.8% |
| Remuneration and social security | 454/9 | €265,467 | €244,822 | -€20,645 | -7.8% |
| Accrued charges and deferred income | 492/3 | €27,086 | €34,802 | +€7,716 | +28.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €2,138,421 | €2,065,118 | -€73,303 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,299 | €139,022 | +€23,723 | +20.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,421 | €22,249 | +€18,828 | +550% |
| Other operating charges | 640/8 | €23,938 | €6,171 | -€17,768 | -74.2% |
| Non-recurring operating charges | 66A | €1,300 | €0 | -€1,300 | -100% |
| Gross operating margin | 9900 | €2,627,028 | €2,599,512 | -€27,516 | -1.0% |
| Operating profit (loss) | 9901 | €284,929 | €366,953 | +€82,024 | +28.8% |
| Financial income | 75/76B | €122,416 | €106,870 | -€15,546 | -12.7% |
| Recurring financial income | 75 | €122,416 | €106,870 | -€15,546 | -12.7% |
| Financial charges | 65/66B | €3,016 | €11,334 | +€8,318 | +276% |
| Recurring financial charges | 65 | €2,769 | €10,878 | +€8,108 | +293% |
| Non-recurring financial charges | 66B | €246 | €456 | +€210 | +85.2% |
| Profit (loss) for the period before taxes | 9903 | €404,329 | €462,489 | +€58,160 | +14.4% |
| Income taxes | 67/77 | €44,749 | €41,869 | -€2,879 | -6.4% |
| Profit (loss) for the period | 9904 | €359,580 | €420,619 | +€61,039 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €359,580 | €420,619 | +€61,039 | +17.0% |
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.