PAYSAGES D'ORIENT: 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.
PAYSAGES D'ORIENT
Largest movements
- Stocks and contracts +€83,666
up €83,666 (+89.8%), from €93,126 to €176,792
- Cash -€21,947
down €21,947 (-96.7%), from €22,695 to €748
mainly Stocks and contracts (-€83,666) and Tax, wage and social debts (-€13,977)
- Receivables within one year -€14,901
down €14,901 (-37.8%), from €39,422 to €24,521
of which Trade receivables: -€12,168
- Trade debts +€46,304
up €46,304 (+89.6%), from €51,669 to €97,973
- Tax, wage and social debts -€13,977
down €13,977 (-83.8%), from €16,687 to €2,711
- Other debts +€12,800
up €12,800 (+21.7%), from €58,885 to €71,685
- Depreciation -€5,199
down €5,199 (-85.1%), from €6,109 to €910
- Gross operating margin -€4,992
down €4,992 (-34.9%), from €14,288 to €9,296
- Other operating charges -€1,071
down €1,071 (-13.1%), from €8,167 to €7,096
- Taxes +€195
new in 2025: €195
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 | €180,491 | €226,398 | +€45,907 | +25.4% |
| Fixed assets | 21/28 | €14,278 | €13,368 | -€910 | -6.4% |
| Tangible fixed assets | 22/27 | €1,147 | €237 | -€910 | -79.3% |
| Furniture and vehicles | 24 | €1,147 | €237 | -€910 | -79.3% |
| Financial fixed assets | 28 | €13,131 | €13,131 | = | 0.0% |
| Current assets | 29/58 | €166,213 | €213,030 | +€46,817 | +28.2% |
| Stocks and contracts in progress | 3 | €93,126 | €176,792 | +€83,666 | +89.8% |
| Stocks | 30/36 | €93,126 | €176,792 | +€83,666 | +89.8% |
| Amounts receivable within one year | 40/41 | €39,422 | €24,521 | -€14,901 | -37.8% |
| Trade receivables | 40 | €22,964 | €10,795 | -€12,168 | -53.0% |
| Other amounts receivable | 41 | €16,458 | €13,725 | -€2,733 | -16.6% |
| Current investments | 50/53 | €10,969 | €10,969 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €22,695 | €748 | -€21,947 | -96.7% |
| Total equity and liabilities | 10/49 | €180,491 | €226,398 | +€45,907 | +25.4% |
| Equity | 10/15 | €53,249 | €54,029 | +€780 | +1.5% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €3,700 | €3,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,700 | €3,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,760 | €25,540 | +€780 | +3.1% |
| Amounts payable | 17/49 | €127,242 | €172,369 | +€45,127 | +35.5% |
| Amounts payable within one year | 42/48 | €127,242 | €172,369 | +€45,127 | +35.5% |
| Trade debts | 44 | €51,669 | €97,973 | +€46,304 | +89.6% |
| Suppliers | 440/4 | €51,669 | €97,973 | +€46,304 | +89.6% |
| Taxes, remuneration and social security | 45 | €16,687 | €2,711 | -€13,977 | -83.8% |
| Taxes | 450/3 | €16,687 | €2,711 | -€13,977 | -83.8% |
| Other amounts payable | 47/48 | €58,885 | €71,685 | +€12,800 | +21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,109 | €910 | -€5,199 | -85.1% |
| Other operating charges | 640/8 | €8,167 | €7,096 | -€1,071 | -13.1% |
| Gross operating margin | 9900 | €14,288 | €9,296 | -€4,992 | -34.9% |
| Operating profit (loss) | 9901 | €12 | €1,290 | +€1,278 | +10,764% |
| Financial charges | 65/66B | €210 | €315 | +€105 | +50.0% |
| Recurring financial charges | 65 | €210 | €315 | +€105 | +50.0% |
| Profit (loss) for the period before taxes | 9903 | -€198 | €975 | +€1,173 | |
| Income taxes | 67/77 | - | €195 | +€195 | |
| Profit (loss) for the period | 9904 | -€198 | €780 | +€978 | |
| Profit (loss) for the period to be appropriated | 9905 | -€198 | €780 | +€978 |
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 30 October 2026 via checked.be.