PACMAH: what changed
Two fiscal 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.
PACMAH
Largest movements
- Cash +€49,030
up €49,030 (+55.5%), from €88,284 to €137,314
mainly Net result for the year (+€115,283) and Current investments (+€44,000)
- Current investments -€44,000
down €44,000 (-19.6%), from €224,657 to €180,657
- Tangible fixed assets -€14,137
down €14,137 (-15.4%), from €91,548 to €77,410
of which Furniture and vehicles: -€12,199
- Debts after one year -€27,645
down €27,645 (-85.4%), from €32,371 to €4,727
- Reserves +€9,845
up €9,845 (+1.5%), from €636,682 to €646,526
- Gross operating margin +€81,710
up €81,710 (+79.7%), from €102,496 to €184,206
- Taxes +€27,170
up €27,170 (+112.8%), from €24,095 to €51,265
- Financial income +€13,217
up €13,217 (+833.1%), from €1,587 to €14,804
- Depreciation +€9,638
up €9,638 (+50.4%), from €19,106 to €28,744
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 | €715,671 | €704,114 | -€11,557 | -1.6% |
| Fixed assets | 21/28 | €398,849 | €384,712 | -€14,137 | -3.5% |
| Tangible fixed assets | 22/27 | €91,548 | €77,410 | -€14,137 | -15.4% |
| Furniture and vehicles | 24 | €82,744 | €70,545 | -€12,199 | -14.7% |
| Other tangible fixed assets | 26 | €8,804 | €6,865 | -€1,938 | -22.0% |
| Financial fixed assets | 28 | €307,302 | €307,302 | = | 0.0% |
| Current assets | 29/58 | €316,822 | €319,402 | +€2,581 | +0.8% |
| Amounts receivable within one year | 40/41 | €3,880 | €0 | -€3,880 | -100.0% |
| Other amounts receivable | 41 | €3,880 | €0 | -€3,880 | -100.0% |
| Current investments | 50/53 | €224,657 | €180,657 | -€44,000 | -19.6% |
| Cash at bank and in hand | 54/58 | €88,284 | €137,314 | +€49,030 | +55.5% |
| Deferred charges and accrued income | 490/1 | €0 | €1,431 | +€1,431 | |
| Total equity and liabilities | 10/49 | €715,671 | €704,114 | -€11,557 | -1.6% |
| Equity | 10/15 | €644,742 | €652,726 | +€7,985 | +1.2% |
| Contributions | 10/11 | €8,060 | €6,200 | -€1,860 | -23.1% |
| Reserves | 13 | €636,682 | €646,526 | +€9,845 | +1.5% |
| Distributable reserves | 133 | €636,682 | €646,526 | +€9,845 | +1.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €70,929 | €51,388 | -€19,541 | -27.6% |
| Amounts payable after more than one year | 17 | €32,371 | €4,727 | -€27,645 | -85.4% |
| Financial debts | 170/4 | €32,371 | €4,727 | -€27,645 | -85.4% |
| Amounts payable within one year | 42/48 | €38,403 | €46,507 | +€8,105 | +21.1% |
| Current portion of amounts payable after more than one year | 42 | €26,457 | €27,645 | +€1,187 | +4.5% |
| Trade debts | 44 | €495 | €2,395 | +€1,899 | +383.4% |
| Suppliers | 440/4 | €495 | €2,395 | +€1,899 | +383.4% |
| Taxes, remuneration and social security | 45 | €11,450 | €16,468 | +€5,018 | +43.8% |
| Taxes | 450/3 | €6,825 | €11,843 | +€5,018 | +73.5% |
| Remuneration and social security | 454/9 | €4,625 | €4,625 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €155 | €154 | -€1 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,106 | €28,744 | +€9,638 | +50.4% |
| Other operating charges | 640/8 | €925 | €766 | -€159 | -17.2% |
| Gross operating margin | 9900 | €102,496 | €184,206 | +€81,710 | +79.7% |
| Operating profit (loss) | 9901 | €82,465 | €154,696 | +€72,231 | +87.6% |
| Financial income | 75/76B | €1,587 | €14,804 | +€13,217 | +833.1% |
| Recurring financial income | 75 | €1,587 | €14,804 | +€13,217 | +833.1% |
| Financial charges | 65/66B | €4,109 | €2,952 | -€1,157 | -28.1% |
| Recurring financial charges | 65 | €4,109 | €2,952 | -€1,157 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €79,943 | €166,548 | +€86,605 | +108.3% |
| Income taxes | 67/77 | €24,095 | €51,265 | +€27,170 | +112.8% |
| Profit (loss) for the period | 9904 | €55,848 | €115,283 | +€59,436 | +106.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,848 | €115,283 | +€59,436 | +106.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.