PAYS VERT CONSEILS: 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.
PAYS VERT CONSEILS
Largest movements
- Intangible fixed assets +€253,668
new in 2025: €253,668
- Cash +€180,151
up €180,151 (+40.6%), from €443,550 to €623,700
mainly Accrued charges and deferred income (+€347,100) and Debts after one year (+€136,725)
- Receivables within one year +€85,799
up €85,799 (+170%), from €50,437 to €136,236
of which Trade receivables: +€88,961
- Tangible fixed assets +€15,685
up €15,685 (+58.1%), from €27,000 to €42,684
of which Other tangible fixed assets: +€16,054
- Accrued charges and deferred income +€347,100
up €347,100 (+103%), from €335,900 to €683,000
- Debts after one year +€136,725
new in 2025: €136,725
- Current portion of long-term debt +€38,354
new in 2025: €38,354
- Tax, wage and social debts +€12,686
up €12,686 (+42.8%), from €29,649 to €42,336
of which Remuneration and social security: +€21,954
- Staff costs +€151,570
up €151,570 (+74.6%), from €203,136 to €354,706
- Gross operating margin +€138,328
up €138,328 (+55.3%), from €250,153 to €388,481
- Depreciation +€21,311
up €21,311 (+326%), from €6,530 to €27,841
- Taxes -€8,229
down €8,229 (-66.0%), from €12,474 to €4,244
- Financial charges +€4,526
up €4,526 (+5,989%), from €76 to €4,602
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 | €521,728 | €1,057,024 | +€535,295 | +103% |
| Fixed assets | 21/28 | €27,150 | €296,502 | +€269,353 | +992% |
| Intangible fixed assets | 21 | - | €253,668 | +€253,668 | |
| Tangible fixed assets | 22/27 | €27,000 | €42,684 | +€15,685 | +58.1% |
| Furniture and vehicles | 24 | €3,600 | €3,231 | -€369 | -10.2% |
| Other tangible fixed assets | 26 | €23,400 | €39,454 | +€16,054 | +68.6% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €494,579 | €760,521 | +€265,943 | +53.8% |
| Amounts receivable within one year | 40/41 | €50,437 | €136,236 | +€85,799 | +170% |
| Trade receivables | 40 | €46,314 | €135,275 | +€88,961 | +192% |
| Other amounts receivable | 41 | €4,123 | €961 | -€3,161 | -76.7% |
| Cash at bank and in hand | 54/58 | €443,550 | €623,700 | +€180,151 | +40.6% |
| Deferred charges and accrued income | 490/1 | €592 | €585 | -€7 | -1.2% |
| Total equity and liabilities | 10/49 | €521,728 | €1,057,024 | +€535,295 | +103% |
| Equity | 10/15 | €150,207 | €149,291 | -€915 | -0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €129,747 | €128,831 | -€915 | -0.7% |
| Amounts payable | 17/49 | €371,521 | €907,732 | +€536,211 | +144% |
| Amounts payable after more than one year | 17 | - | €136,725 | +€136,725 | |
| Financial debts | 170/4 | - | €136,725 | +€136,725 | |
| Amounts payable within one year | 42/48 | €35,621 | €88,007 | +€52,385 | +147% |
| Current portion of amounts payable after more than one year | 42 | - | €38,354 | +€38,354 | |
| Financial debts | 43 | €71 | €1,000 | +€929 | +1,306% |
| Credit institutions | 430/8 | €14 | €14 | = | 0.0% |
| Other loans | 439 | €57 | €986 | +€929 | +1,630% |
| Trade debts | 44 | €5,829 | €6,291 | +€462 | +7.9% |
| Suppliers | 440/4 | €5,829 | €6,291 | +€462 | +7.9% |
| Taxes, remuneration and social security | 45 | €29,649 | €42,336 | +€12,686 | +42.8% |
| Taxes | 450/3 | €12,413 | €3,145 | -€9,268 | -74.7% |
| Remuneration and social security | 454/9 | €17,236 | €39,190 | +€21,954 | +127% |
| Other amounts payable | 47/48 | €72 | €26 | -€46 | -64.2% |
| Accrued charges and deferred income | 492/3 | €335,900 | €683,000 | +€347,100 | +103% |
| Remuneration, social security and pensions | 62 | €203,136 | €354,706 | +€151,570 | +74.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,530 | €27,841 | +€21,311 | +326% |
| Other operating charges | 640/8 | €955 | €1,698 | +€743 | +77.9% |
| Gross operating margin | 9900 | €250,153 | €388,481 | +€138,328 | +55.3% |
| Operating profit (loss) | 9901 | €39,532 | €4,237 | -€35,296 | -89.3% |
| Financial income | 75/76B | €203 | €3,694 | +€3,491 | +1,721% |
| Recurring financial income | 75 | €203 | €3,694 | +€3,491 | +1,721% |
| Financial charges | 65/66B | €76 | €4,602 | +€4,526 | +5,989% |
| Recurring financial charges | 65 | €76 | €4,602 | +€4,526 | +5,989% |
| Profit (loss) for the period before taxes | 9903 | €39,660 | €3,329 | -€36,331 | -91.6% |
| Income taxes | 67/77 | €12,474 | €4,244 | -€8,229 | -66.0% |
| Profit (loss) for the period | 9904 | €27,186 | -€915 | -€28,102 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,186 | -€915 | -€28,102 |
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 31 October 2026 via checked.be.