Pasval: what changed
Pasval
Largest movements
- Tangible fixed assets +€13,146
up €13,146 (+153%), from €8,620 to €21,766
of which Plant, machinery and equipment: +€10,836
- Cash -€4,827
down €4,827 (-15.1%), from €32,047 to €27,220
mainly Investment in fixed assets (net) (-€18,478) and Trade debts (-€852)
- Intangible fixed assets -€3,000
down €3,000 (-34.8%), from €8,625 to €5,625
- Receivables within one year -€954
down €954 (-17.2%), from €5,533 to €4,579
of which Trade receivables: -€1,602
- Profit (loss) carried forward +€5,320
up €5,320 (+14.3%), from €37,294 to €42,614
- Trade debts -€852
down €852 (-16.7%), from €5,114 to €4,262
- Gross operating margin +€17,184
up €17,184, from -€1,332 to €15,852
- Depreciation +€1,662
up €1,662 (+24.9%), from €6,670 to €8,332
- Staff costs -€370
down €370 (-87.3%), from €424 to €54
- Financial charges +€345
up €345 (+74.4%), from €464 to €809
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €54,825 | €59,190 | +€4,365 | +8.0% |
| Fixed assets | 21/28 | €17,245 | €27,391 | +€10,146 | +58.8% |
| Intangible fixed assets | 21 | €8,625 | €5,625 | -€3,000 | -34.8% |
| Tangible fixed assets | 22/27 | €8,620 | €21,766 | +€13,146 | +153% |
| Land and buildings | 22 | - | €1,780 | +€1,780 | |
| Plant, machinery and equipment | 23 | €4,806 | €15,642 | +€10,836 | +225% |
| Furniture and vehicles | 24 | €3,814 | €4,344 | +€530 | +13.9% |
| Current assets | 29/58 | €37,580 | €31,799 | -€5,781 | -15.4% |
| Amounts receivable within one year | 40/41 | €5,533 | €4,579 | -€954 | -17.2% |
| Trade receivables | 40 | €2,363 | €761 | -€1,602 | -67.8% |
| Other amounts receivable | 41 | €3,170 | €3,818 | +€648 | +20.4% |
| Cash at bank and in hand | 54/58 | €32,047 | €27,220 | -€4,827 | -15.1% |
| Total equity and liabilities | 10/49 | €54,825 | €59,190 | +€4,365 | +8.0% |
| Equity | 10/15 | €45,354 | €50,674 | +€5,320 | +11.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,294 | €42,614 | +€5,320 | +14.3% |
| Amounts payable | 17/49 | €9,471 | €8,516 | -€955 | -10.1% |
| Amounts payable within one year | 42/48 | €9,471 | €8,406 | -€1,065 | -11.2% |
| Trade debts | 44 | €5,114 | €4,262 | -€852 | -16.7% |
| Suppliers | 440/4 | €5,114 | €4,262 | -€852 | -16.7% |
| Taxes, remuneration and social security | 45 | €4,357 | €4,144 | -€213 | -4.9% |
| Taxes | 450/3 | €216 | - | -€216 | |
| Remuneration and social security | 454/9 | €4,141 | €4,144 | +€3 | +0.1% |
| Accrued charges and deferred income | 492/3 | - | €110 | +€110 | |
| Remuneration, social security and pensions | 62 | €424 | €54 | -€370 | -87.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,670 | €8,332 | +€1,662 | +24.9% |
| Other operating charges | 640/8 | €1,236 | €1,371 | +€135 | +10.9% |
| Gross operating margin | 9900 | -€1,332 | €15,852 | +€17,184 | |
| Operating profit (loss) | 9901 | -€9,662 | €6,095 | +€15,757 | |
| Financial income | 75/76B | €3 | €34 | +€31 | +1,033% |
| Recurring financial income | 75 | €3 | €34 | +€31 | +1,033% |
| Financial charges | 65/66B | €464 | €809 | +€345 | +74.4% |
| Recurring financial charges | 65 | €464 | €809 | +€345 | +74.4% |
| Profit (loss) for the period before taxes | 9903 | -€10,123 | €5,320 | +€15,443 | |
| Profit (loss) for the period | 9904 | -€10,123 | €5,320 | +€15,443 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,123 | €5,320 | +€15,443 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.