PACEXPORT: 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.
PACEXPORT
Largest movements
- Receivables within one year +€1.6m
up €1.6m (+396%), from €404,469 to €2.0m
- Other debts +€1.6m
up €1.6m (+143%), from €1.2m to €2.8m
- Profit (loss) carried forward -€39,003
down €39,003 (-65.7%), from €59,360 to €20,358
- Financial income +€50,445
up €50,445 (+770%), from €6,550 to €56,995
- Financial charges +€45,398
up €45,398 (+95.6%), from €47,479 to €92,877
- Gross operating margin +€1,489
up €1,489 (+44.5%), from -€3,343 to -€1,854
- Other operating charges +€35
up €35 (+2.8%), from €1,232 to €1,267
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 | €1,279,916 | €2,883,401 | +€1.6m | +125% |
| Fixed assets | 21/28 | €874,478 | €874,478 | = | 0.0% |
| Financial fixed assets | 28 | €874,478 | €874,478 | = | 0.0% |
| Current assets | 29/58 | €405,438 | €2,008,924 | +€1.6m | +395% |
| Amounts receivable within one year | 40/41 | €404,469 | €2,007,481 | +€1.6m | +396% |
| Other amounts receivable | 41 | €404,469 | €2,007,481 | +€1.6m | +396% |
| Cash at bank and in hand | 54/58 | €969 | €1,443 | +€474 | +48.9% |
| Total equity and liabilities | 10/49 | €1,279,916 | €2,883,401 | +€1.6m | +125% |
| Equity | 10/15 | €127,560 | €88,558 | -€39,003 | -30.6% |
| 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 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,360 | €20,358 | -€39,003 | -65.7% |
| Amounts payable | 17/49 | €1,152,355 | €2,794,844 | +€1.6m | +143% |
| Amounts payable within one year | 42/48 | €1,152,229 | €2,794,844 | +€1.6m | +143% |
| Other amounts payable | 47/48 | €1,152,229 | €2,794,844 | +€1.6m | +143% |
| Accrued charges and deferred income | 492/3 | €126 | €0 | -€126 | -100% |
| Other operating charges | 640/8 | €1,232 | €1,267 | +€35 | +2.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€3,343 | -€1,854 | +€1,489 | +44.5% |
| Operating profit (loss) | 9901 | -€4,576 | -€3,121 | +€1,454 | +31.8% |
| Financial income | 75/76B | €6,550 | €56,995 | +€50,445 | +770% |
| Recurring financial income | 75 | €6,550 | €56,995 | +€50,445 | +770% |
| Financial charges | 65/66B | €47,479 | €92,877 | +€45,398 | +95.6% |
| Recurring financial charges | 65 | €47,479 | €92,877 | +€45,398 | +95.6% |
| Profit (loss) for the period before taxes | 9903 | -€45,504 | -€39,003 | +€6,501 | +14.3% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€45,504 | -€39,003 | +€6,501 | +14.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,504 | -€39,003 | +€6,501 | +14.3% |
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 21 October 2026 via checked.be.