PUBLI - PASA: 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.
PUBLI - PASA
Largest movements
- Tangible fixed assets +€7,878
new in 2025: €7,878
- Receivables within one year +€387
up €387 (+19.0%), from €2,043 to €2,430
of which Other amounts receivable: +€755
- Cash -€133
down €133 (-88.0%), from €151 to €18
mainly Investment in fixed assets (net) (-€8,555) and Trade debts (-€7,921)
- Other debts +€10,395
new in 2025: €10,395
- Trade debts -€7,921
down €7,921 (-39.3%), from €20,158 to €12,237
- Profit (loss) carried forward +€5,696
up €5,696 (+17.6%), from -€32,390 to -€26,694
- Gross operating margin +€10,222
up €10,222, from -€3,586 to €6,636
- Depreciation +€677
new in 2025: €677
- Other operating charges +€544
new in 2025: €544
- Provisions -€528
no longer reported in 2025 (was €528)
- Financial income +€337
up €337 (+1,015%), from €33 to €370
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 | €2,193 | €10,326 | +€8,133 | +371% |
| Fixed assets | 21/28 | - | €7,878 | +€7,878 | |
| Tangible fixed assets | 22/27 | - | €7,878 | +€7,878 | |
| Other tangible fixed assets | 26 | - | €7,878 | +€7,878 | |
| Current assets | 29/58 | €2,193 | €2,448 | +€255 | +11.6% |
| Amounts receivable within one year | 40/41 | €2,043 | €2,430 | +€387 | +19.0% |
| Trade receivables | 40 | €368 | - | -€368 | |
| Other amounts receivable | 41 | €1,675 | €2,430 | +€755 | +45.1% |
| Cash at bank and in hand | 54/58 | €151 | €18 | -€133 | -88.0% |
| Total equity and liabilities | 10/49 | €2,193 | €10,326 | +€8,133 | +371% |
| Equity | 10/15 | -€18,003 | -€12,307 | +€5,696 | +31.6% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Capital | 10 | €6,205 | €6,205 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €8,182 | €8,182 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €6,322 | €6,322 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,390 | -€26,694 | +€5,696 | +17.6% |
| Amounts payable | 17/49 | €20,196 | €22,633 | +€2,437 | +12.1% |
| Amounts payable within one year | 42/48 | €20,196 | €22,633 | +€2,437 | +12.1% |
| Trade debts | 44 | €20,158 | €12,237 | -€7,921 | -39.3% |
| Suppliers | 440/4 | €20,158 | €12,237 | -€7,921 | -39.3% |
| Taxes, remuneration and social security | 45 | €38 | - | -€38 | |
| Taxes | 450/3 | €38 | - | -€38 | |
| Other amounts payable | 47/48 | - | €10,395 | +€10,395 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €677 | +€677 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €528 | - | -€528 | |
| Other operating charges | 640/8 | - | €544 | +€544 | |
| Gross operating margin | 9900 | -€3,586 | €6,636 | +€10,222 | |
| Operating profit (loss) | 9901 | -€4,114 | €5,415 | +€9,529 | |
| Financial income | 75/76B | €33 | €370 | +€337 | +1,015% |
| Recurring financial income | 75 | €33 | €370 | +€337 | +1,015% |
| Financial charges | 65/66B | €115 | €89 | -€26 | -22.6% |
| Recurring financial charges | 65 | €115 | €89 | -€26 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,196 | €5,696 | +€9,893 | |
| Profit (loss) for the period | 9904 | -€4,196 | €5,696 | +€9,893 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,196 | €5,696 | +€9,893 |
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 28 October 2026 via checked.be.