PAVI - LINE: 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.
PAVI - LINE
Largest movements
- Stocks and contracts -€5,230
down €5,230 (-5.0%), from €105,074 to €99,844
- Receivables within one year -€3,313
down €3,313 (-7.0%), from €47,178 to €43,865
of which Trade receivables: -€6,972
- Debts after one year -€14,321
down €14,321 (-22.8%), from €62,900 to €48,579
- Trade debts +€13,186
up €13,186 (+51.1%), from €25,825 to €39,011
- Profit (loss) carried forward -€10,147
down €10,147 (-143.4%), from -€7,077 to -€17,224
- Gross operating margin -€14,717
down €14,717, from €11,987 to -€2,730
- Depreciation -€6,695
down €6,695 (-95.2%), from €7,029 to €334
- Write-downs -€1,581
down €1,581 (-101.7%), from -€1,554 to -€3,135
- Financial charges -€1,021
down €1,021 (-12.2%), from €8,358 to €7,337
- Financial income +€396
up €396 (+35.8%), from €1,105 to €1,501
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.
Cash bridge derived
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 | €264,128 | €255,128 | -€9,000 | -3.4% |
| Fixed assets | 21/28 | €85,643 | €85,309 | -€334 | -0.4% |
| Tangible fixed assets | 22/27 | €75,643 | €75,309 | -€334 | -0.4% |
| Land and buildings | 22 | €73,737 | €73,737 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,906 | €1,572 | -€334 | -17.5% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €178,485 | €169,819 | -€8,666 | -4.9% |
| Stocks and contracts in progress | 3 | €105,074 | €99,844 | -€5,230 | -5.0% |
| Stocks | 30/36 | €105,074 | €99,844 | -€5,230 | -5.0% |
| Amounts receivable within one year | 40/41 | €47,178 | €43,865 | -€3,313 | -7.0% |
| Trade receivables | 40 | €19,298 | €12,326 | -€6,972 | -36.1% |
| Other amounts receivable | 41 | €27,880 | €31,539 | +€3,659 | +13.1% |
| Cash at bank and in hand | 54/58 | €26,233 | €26,110 | -€123 | -0.5% |
| Total equity and liabilities | 10/49 | €264,128 | €255,128 | -€9,000 | -3.4% |
| Equity | 10/15 | €79,123 | €68,976 | -€10,147 | -12.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €24,200 | €24,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,077 | -€17,224 | -€10,147 | -143.4% |
| Amounts payable | 17/49 | €185,005 | €186,152 | +€1,147 | +0.6% |
| Amounts payable after more than one year | 17 | €62,900 | €48,579 | -€14,321 | -22.8% |
| Financial debts | 170/4 | €62,900 | €48,579 | -€14,321 | -22.8% |
| Amounts payable within one year | 42/48 | €120,657 | €136,310 | +€15,653 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €14,037 | €14,321 | +€284 | +2.0% |
| Financial debts | 43 | €75,000 | €75,000 | = | 0.0% |
| Credit institutions | 430/8 | €75,000 | €75,000 | = | 0.0% |
| Trade debts | 44 | €25,825 | €39,011 | +€13,186 | +51.1% |
| Suppliers | 440/4 | €25,825 | €39,011 | +€13,186 | +51.1% |
| Taxes, remuneration and social security | 45 | €5,795 | €7,978 | +€2,183 | +37.7% |
| Taxes | 450/3 | €5,795 | €7,978 | +€2,183 | +37.7% |
| Accrued charges and deferred income | 492/3 | €1,448 | €1,263 | -€185 | -12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,029 | €334 | -€6,695 | -95.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,554 | -€3,135 | -€1,581 | -101.7% |
| Other operating charges | 640/8 | €4,273 | €4,242 | -€31 | -0.7% |
| Gross operating margin | 9900 | €11,987 | -€2,730 | -€14,717 | |
| Operating profit (loss) | 9901 | €2,239 | -€4,171 | -€6,410 | |
| Financial income | 75/76B | €1,105 | €1,501 | +€396 | +35.8% |
| Recurring financial income | 75 | €1,105 | €1,501 | +€396 | +35.8% |
| Financial charges | 65/66B | €8,358 | €7,337 | -€1,021 | -12.2% |
| Recurring financial charges | 65 | €8,358 | €7,337 | -€1,021 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | -€5,014 | -€10,007 | -€4,993 | -99.6% |
| Income taxes | 67/77 | €508 | €140 | -€368 | -72.4% |
| Profit (loss) for the period | 9904 | -€5,522 | -€10,147 | -€4,625 | -83.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,522 | -€10,147 | -€4,625 | -83.8% |
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 10 October 2026 via checked.be.