PACOMO: 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.
PACOMO
Largest movements
- Tangible fixed assets -€188,485
down €188,485 (-5.6%), from €3.4m to €3.2m
of which Land and buildings: -€160,680
- Current investments +€175,000
up €175,000 (+36.8%), from €475,000 to €650,000
- Receivables within one year -€46,184
no longer reported in 2025 (was €46,184)
- Profit (loss) carried forward +€118,631
up €118,631 (+25.5%), from €465,933 to €584,563
- Accrued charges and deferred income -€68,898
no longer reported in 2025 (was €68,898)
- Reserves -€61,688
down €61,688 (-5.4%), from €1.1m to €1.1m
of which Tax-exempt reserves: -€61,688
- Debts after one year -€50,095
down €50,095 (-8.7%), from €574,217 to €524,122
- Gross operating margin -€109,286
down €109,286 (-26.1%), from €419,065 to €309,779
- Depreciation -€65,221
down €65,221 (-25.7%), from €253,707 to €188,485
- Taxes +€30,528
up €30,528 (+225.4%), from €13,544 to €44,073
- Other operating charges +€20,804
up €20,804 (+66.1%), from €31,489 to €52,293
- Financial income +€12,659
up €12,659 (+181.8%), from €6,963 to €19,622
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 | €3,959,763 | €3,868,945 | -€90,819 | -2.3% |
| Fixed assets | 21/28 | €3,377,959 | €3,189,474 | -€188,485 | -5.6% |
| Tangible fixed assets | 22/27 | €3,377,959 | €3,189,474 | -€188,485 | -5.6% |
| Land and buildings | 22 | €3,260,775 | €3,100,095 | -€160,680 | -4.9% |
| Plant, machinery and equipment | 23 | €2,619 | €1,888 | -€731 | -27.9% |
| Furniture and vehicles | 24 | €114,565 | €87,491 | -€27,074 | -23.6% |
| Current assets | 29/58 | €581,804 | €679,471 | +€97,666 | +16.8% |
| Amounts receivable within one year | 40/41 | €46,184 | - | -€46,184 | |
| Trade receivables | 40 | €46,184 | - | -€46,184 | |
| Current investments | 50/53 | €475,000 | €650,000 | +€175,000 | +36.8% |
| Cash at bank and in hand | 54/58 | €60,621 | €25,383 | -€35,237 | -58.1% |
| Deferred charges and accrued income | 490/1 | - | €4,087 | +€4,087 | |
| Total equity and liabilities | 10/49 | €3,959,763 | €3,868,945 | -€90,819 | -2.3% |
| Equity | 10/15 | €1,666,893 | €1,723,836 | +€56,943 | +3.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,138,960 | €1,077,272 | -€61,688 | -5.4% |
| Tax-exempt reserves | 132 | €1,132,760 | €1,071,072 | -€61,688 | -5.4% |
| Distributable reserves | 133 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €465,933 | €584,563 | +€118,631 | +25.5% |
| Provisions and deferred taxes | 16 | €377,587 | €357,024 | -€20,563 | -5.4% |
| Deferred taxes | 168 | €377,587 | €357,024 | -€20,563 | -5.4% |
| Amounts payable | 17/49 | €1,915,284 | €1,788,085 | -€127,199 | -6.6% |
| Amounts payable after more than one year | 17 | €574,217 | €524,122 | -€50,095 | -8.7% |
| Financial debts | 170/4 | €574,217 | €524,122 | -€50,095 | -8.7% |
| Amounts payable within one year | 42/48 | €1,272,169 | €1,263,963 | -€8,206 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €49,448 | €50,095 | +€647 | +1.3% |
| Trade debts | 44 | - | €718 | +€718 | |
| Suppliers | 440/4 | - | €718 | +€718 | |
| Taxes, remuneration and social security | 45 | €13,544 | €38,193 | +€24,648 | +182.0% |
| Taxes | 450/3 | €13,544 | €38,193 | +€24,648 | +182.0% |
| Other amounts payable | 47/48 | €1,209,177 | €1,174,957 | -€34,220 | -2.8% |
| Accrued charges and deferred income | 492/3 | €68,898 | - | -€68,898 | |
| Non-recurring operating income | 76A | €153,986 | - | -€153,986 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €253,707 | €188,485 | -€65,221 | -25.7% |
| Other operating charges | 640/8 | €31,489 | €52,293 | +€20,804 | +66.1% |
| Gross operating margin | 9900 | €419,065 | €309,779 | -€109,286 | -26.1% |
| Operating profit (loss) | 9901 | €133,870 | €69,001 | -€64,869 | -48.5% |
| Financial income | 75/76B | €6,963 | €19,622 | +€12,659 | +181.8% |
| Recurring financial income | 75 | €6,963 | €19,622 | +€12,659 | +181.8% |
| Financial charges | 65/66B | €8,748 | €8,171 | -€577 | -6.6% |
| Recurring financial charges | 65 | €8,748 | €8,171 | -€577 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €132,085 | €80,453 | -€51,632 | -39.1% |
| Transfer from deferred taxes | 780 | €20,563 | €20,563 | = | 0.0% |
| Transfer to deferred taxes | 680 | €38,497 | - | -€38,497 | |
| Income taxes | 67/77 | €13,544 | €44,073 | +€30,528 | +225.4% |
| Profit (loss) for the period | 9904 | €100,606 | €56,943 | -€43,664 | -43.4% |
| Transfer from tax-exempt reserves | 789 | €61,688 | €61,688 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €115,490 | - | -€115,490 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,805 | €118,631 | +€71,826 | +153.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.