PAZ CONSULT: 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.
PAZ CONSULT
Largest movements
- Cash +€42,114
up €42,114 (+68.7%), from €61,274 to €103,388
mainly Other debts (+€109,584) and Net result for the year (+€56,168)
- Tangible fixed assets +€14,688
up €14,688 (+1,378%), from €1,066 to €15,754
- Deferred charges and accrued income +€4,662
up €4,662 (+61.3%), from €7,604 to €12,266
- Other debts +€109,584
up €109,584 (+26,773%), from €409 to €109,993
- Profit (loss) carried forward -€53,792
no longer reported in 2025 (was €53,792)
- Debts after one year +€5,243
new in 2025: €5,243
- Current portion of long-term debt +€1,482
new in 2025: €1,482
- Gross operating margin +€19,289
up €19,289 (+33.4%), from €57,718 to €77,007
- Taxes +€4,340
up €4,340 (+35.0%), from €12,417 to €16,757
- Depreciation +€1,264
up €1,264 (+147%), from €862 to €2,125
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 | €69,944 | €131,558 | +€61,614 | +88.1% |
| Fixed assets | 21/28 | €1,066 | €15,904 | +€14,838 | +1,392% |
| Tangible fixed assets | 22/27 | €1,066 | €15,754 | +€14,688 | +1,378% |
| Furniture and vehicles | 24 | €1,066 | €15,754 | +€14,688 | +1,378% |
| Financial fixed assets | 28 | - | €150 | +€150 | |
| Current assets | 29/58 | €68,878 | €115,653 | +€46,776 | +67.9% |
| Cash at bank and in hand | 54/58 | €61,274 | €103,388 | +€42,114 | +68.7% |
| Deferred charges and accrued income | 490/1 | €7,604 | €12,266 | +€4,662 | +61.3% |
| Total equity and liabilities | 10/49 | €69,944 | €131,558 | +€61,614 | +88.1% |
| Equity | 10/15 | €56,292 | €2,500 | -€53,792 | -95.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,792 | - | -€53,792 | |
| Amounts payable | 17/49 | €13,651 | €129,058 | +€115,407 | +845% |
| Amounts payable after more than one year | 17 | - | €5,243 | +€5,243 | |
| Financial debts | 170/4 | - | €5,243 | +€5,243 | |
| Amounts payable within one year | 42/48 | €13,651 | €123,815 | +€110,164 | +807% |
| Current portion of amounts payable after more than one year | 42 | - | €1,482 | +€1,482 | |
| Trade debts | 44 | €825 | €390 | -€435 | -52.7% |
| Suppliers | 440/4 | €825 | €390 | -€435 | -52.7% |
| Taxes, remuneration and social security | 45 | €12,417 | €11,949 | -€468 | -3.8% |
| Taxes | 450/3 | €12,417 | €9,798 | -€2,619 | -21.1% |
| Remuneration and social security | 454/9 | - | €2,151 | +€2,151 | |
| Other amounts payable | 47/48 | €409 | €109,993 | +€109,584 | +26,773% |
| Non-recurring operating income | 76A | - | €196 | +€196 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €862 | €2,125 | +€1,264 | +147% |
| Other operating charges | 640/8 | €901 | €1,431 | +€530 | +58.8% |
| Gross operating margin | 9900 | €57,718 | €77,007 | +€19,289 | +33.4% |
| Operating profit (loss) | 9901 | €55,955 | €73,450 | +€17,495 | +31.3% |
| Financial income | 75/76B | €0 | €0 | +€0 | +100% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +100% |
| Financial charges | 65/66B | €225 | €525 | +€301 | +134% |
| Recurring financial charges | 65 | €225 | €525 | +€301 | +134% |
| Profit (loss) for the period before taxes | 9903 | €55,730 | €72,925 | +€17,195 | +30.9% |
| Income taxes | 67/77 | €12,417 | €16,757 | +€4,340 | +35.0% |
| Profit (loss) for the period | 9904 | €43,313 | €56,168 | +€12,854 | +29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €43,313 | €56,168 | +€12,854 | +29.7% |
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 1 November 2026 via checked.be.