PACOM: 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.
PACOM
Largest movements
- Receivables within one year +€217,545
up €217,545 (+5126.8%), from €4,243 to €221,789
of which Other amounts receivable: +€221,289
- Financial fixed assets -€59,456
down €59,456 (-36.6%), from €162,479 to €103,023
- Cash +€8,161
up €8,161 (+33.1%), from €24,644 to €32,805
mainly Net result for the year (+€257,338) and Investment in fixed assets (net) (+€55,688)
- Profit (loss) carried forward +€257,338
up €257,338, from -€133,660 to €123,678
- Other debts -€83,477
no longer reported in 2025 (was €83,477)
- Short-term financial debts -€24,991
down €24,991 (-33.3%), from €74,991 to €50,000
- Trade debts +€18,201
up €18,201 (+259.6%), from €7,012 to €25,213
- Financial income +€238,822
new in 2025: €238,822
- Gross operating margin +€52,815
up €52,815, from -€21,740 to €31,075
- Financial charges -€3,252
down €3,252 (-28.1%), from €11,589 to €8,337
- Depreciation +€784
up €784 (+29.1%), from €2,700 to €3,484
- Other operating charges -€391
down €391 (-49.5%), from €791 to €400
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 | €199,923 | €365,993 | +€166,071 | +83.1% |
| Fixed assets | 21/28 | €169,322 | €110,150 | -€59,172 | -34.9% |
| Tangible fixed assets | 22/27 | €6,843 | €7,127 | +€284 | +4.1% |
| Plant, machinery and equipment | 23 | €6,843 | €7,127 | +€284 | +4.1% |
| Financial fixed assets | 28 | €162,479 | €103,023 | -€59,456 | -36.6% |
| Current assets | 29/58 | €30,600 | €255,843 | +€225,243 | +736.1% |
| Amounts receivable within one year | 40/41 | €4,243 | €221,789 | +€217,545 | +5126.8% |
| Trade receivables | 40 | €4,243 | €500 | -€3,743 | -88.2% |
| Other amounts receivable | 41 | - | €221,289 | +€221,289 | |
| Current investments | 50/53 | €1,250 | €1,250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €24,644 | €32,805 | +€8,161 | +33.1% |
| Deferred charges and accrued income | 490/1 | €463 | - | -€463 | |
| Total equity and liabilities | 10/49 | €199,923 | €365,993 | +€166,071 | +83.1% |
| Equity | 10/15 | €30,400 | €287,738 | +€257,338 | +846.5% |
| Contributions | 10/11 | €38,423 | €38,423 | = | 0.0% |
| Reserves | 13 | €125,637 | €125,637 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,462 | €4,462 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,462 | €4,462 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,188 | €4,188 | = | 0.0% |
| Distributable reserves | 133 | €116,986 | €116,986 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€133,660 | €123,678 | +€257,338 | |
| Amounts payable | 17/49 | €169,523 | €78,255 | -€91,267 | -53.8% |
| Amounts payable within one year | 42/48 | €169,523 | €78,255 | -€91,267 | -53.8% |
| Financial debts | 43 | €74,991 | €50,000 | -€24,991 | -33.3% |
| Credit institutions | 430/8 | €74,991 | €50,000 | -€24,991 | -33.3% |
| Trade debts | 44 | €7,012 | €25,213 | +€18,201 | +259.6% |
| Suppliers | 440/4 | €7,012 | €25,213 | +€18,201 | +259.6% |
| Taxes, remuneration and social security | 45 | €4,043 | €3,042 | -€1,001 | -24.8% |
| Taxes | 450/3 | €4,043 | €3,042 | -€1,001 | -24.8% |
| Other amounts payable | 47/48 | €83,477 | - | -€83,477 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,700 | €3,484 | +€784 | +29.1% |
| Other operating charges | 640/8 | €791 | €400 | -€391 | -49.5% |
| Non-recurring operating charges | 66A | - | €339 | +€339 | |
| Gross operating margin | 9900 | -€21,740 | €31,075 | +€52,815 | |
| Operating profit (loss) | 9901 | -€25,231 | €26,853 | +€52,084 | |
| Financial income | 75/76B | - | €238,822 | +€238,822 | |
| Recurring financial income | 75 | - | €238,822 | +€238,822 | |
| Financial charges | 65/66B | €11,589 | €8,337 | -€3,252 | -28.1% |
| Recurring financial charges | 65 | €11,589 | €8,337 | -€3,252 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | -€36,820 | €257,338 | +€294,158 | |
| Profit (loss) for the period | 9904 | -€36,820 | €257,338 | +€294,158 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,820 | €257,338 | +€294,158 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.