PAZAPAT': 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.
PAZAPAT'
Largest movements
- Tangible fixed assets +€40,351
up €40,351 (+345%), from €11,686 to €52,038
of which Furniture and vehicles: +€20,405
- Cash +€20,980
up €20,980 (+33.6%), from €62,382 to €83,362
mainly Debts after one year (+€32,628) and Net result for the year (+€21,770)
- Receivables within one year -€4,178
down €4,178 (-36.8%), from €11,356 to €7,178
of which Trade receivables: -€3,592
- Debts after one year +€32,628
up €32,628 (+1,641%), from €1,988 to €34,616
- Profit (loss) carried forward +€21,770
up €21,770 (+53.9%), from €40,357 to €62,127
- Current portion of long-term debt +€8,051
up €8,051 (+176%), from €4,567 to €12,618
- Trade debts -€2,879
down €2,879 (-72.0%), from €4,000 to €1,121
- Staff costs +€13,175
up €13,175 (+16.8%), from €78,427 to €91,601
- Taxes -€7,135
down €7,135 (-49.1%), from €14,516 to €7,382
- Depreciation +€6,928
up €6,928 (+125%), from €5,523 to €12,452
- Gross operating margin -€5,020
down €5,020 (-3.4%), from €146,054 to €141,034
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 | €173,280 | €232,850 | +€59,571 | +34.4% |
| Fixed assets | 21/28 | €13,861 | €54,213 | +€40,351 | +291% |
| Tangible fixed assets | 22/27 | €11,686 | €52,038 | +€40,351 | +345% |
| Land and buildings | 22 | €5,748 | €23,532 | +€17,784 | +309% |
| Plant, machinery and equipment | 23 | - | €2,163 | +€2,163 | |
| Furniture and vehicles | 24 | €5,939 | €26,343 | +€20,405 | +344% |
| Financial fixed assets | 28 | €2,175 | €2,175 | = | 0.0% |
| Current assets | 29/58 | €159,419 | €178,638 | +€19,219 | +12.1% |
| Stocks and contracts in progress | 3 | €82,821 | €85,096 | +€2,275 | +2.7% |
| Stocks | 30/36 | €82,821 | €85,096 | +€2,275 | +2.7% |
| Amounts receivable within one year | 40/41 | €11,356 | €7,178 | -€4,178 | -36.8% |
| Trade receivables | 40 | €4,273 | €681 | -€3,592 | -84.1% |
| Other amounts receivable | 41 | €7,083 | €6,498 | -€586 | -8.3% |
| Cash at bank and in hand | 54/58 | €62,382 | €83,362 | +€20,980 | +33.6% |
| Deferred charges and accrued income | 490/1 | €2,860 | €3,002 | +€142 | +5.0% |
| Total equity and liabilities | 10/49 | €173,280 | €232,850 | +€59,571 | +34.4% |
| Equity | 10/15 | €143,793 | €165,564 | +€21,770 | +15.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €83,437 | €83,437 | = | 0.0% |
| Distributable reserves | 133 | €83,437 | €83,437 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,357 | €62,127 | +€21,770 | +53.9% |
| Amounts payable | 17/49 | €29,486 | €67,287 | +€37,800 | +128% |
| Amounts payable after more than one year | 17 | €1,988 | €34,616 | +€32,628 | +1,641% |
| Financial debts | 170/4 | €1,988 | €34,616 | +€32,628 | +1,641% |
| Amounts payable within one year | 42/48 | €27,498 | €32,671 | +€5,173 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €4,567 | €12,618 | +€8,051 | +176% |
| Trade debts | 44 | €4,000 | €1,121 | -€2,879 | -72.0% |
| Suppliers | 440/4 | €4,000 | €1,121 | -€2,879 | -72.0% |
| Taxes, remuneration and social security | 45 | €17,431 | €18,774 | +€1,343 | +7.7% |
| Taxes | 450/3 | €2,020 | €2,725 | +€706 | +34.9% |
| Remuneration and social security | 454/9 | €15,411 | €16,049 | +€637 | +4.1% |
| Other amounts payable | 47/48 | €1,500 | €158 | -€1,342 | -89.5% |
| Remuneration, social security and pensions | 62 | €78,427 | €91,601 | +€13,175 | +16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,523 | €12,452 | +€6,928 | +125% |
| Other operating charges | 640/8 | €2,836 | €3,515 | +€679 | +23.9% |
| Gross operating margin | 9900 | €146,054 | €141,034 | -€5,020 | -3.4% |
| Operating profit (loss) | 9901 | €59,267 | €33,465 | -€25,802 | -43.5% |
| Financial income | 75/76B | €69 | €26 | -€43 | -62.5% |
| Recurring financial income | 75 | €69 | €26 | -€43 | -62.5% |
| Financial charges | 65/66B | €3,324 | €4,339 | +€1,015 | +30.5% |
| Recurring financial charges | 65 | €3,324 | €4,339 | +€1,015 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | €56,013 | €29,152 | -€26,861 | -48.0% |
| Income taxes | 67/77 | €14,516 | €7,382 | -€7,135 | -49.1% |
| Profit (loss) for the period | 9904 | €41,497 | €21,770 | -€19,727 | -47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €41,497 | €21,770 | -€19,727 | -47.5% |
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 20 October 2026 via checked.be.