PACTUM: 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.
PACTUM
Largest movements
- Tangible fixed assets +€408,949
up €408,949 (+109.0%), from €375,234 to €784,183
of which Land and buildings: +€410,601
- Cash +€63,745
up €63,745 (+481.8%), from €13,230 to €76,975
mainly Contributions, distributions and other (+€429,774) and Net result for the year (+€23,600)
- Revaluation surpluses +€429,774
new in 2025: €429,774
- Reserves +€23,599
up €23,599 (+271.4%), from €8,696 to €32,295
of which Distributable reserves: +€23,295
- Other debts +€17,817
up €17,817 (+10.2%), from €174,467 to €192,284
- Accrued charges and deferred income -€14,058
down €14,058 (-100.0%), from €14,058 to €0
- Tax, wage and social debts +€10,080
up €10,080, from €0 to €10,080
- Gross operating margin +€14,602
up €14,602 (+27.7%), from €52,732 to €67,334
- Write-downs +€5,907
up €5,907, from -€5,907 to €0
- Taxes +€2,334
up €2,334, from -€4 to €2,330
- Financial charges -€1,555
down €1,555 (-11.1%), from €13,970 to €12,416
- Other operating charges +€1,182
up €1,182 (+20.4%), from €5,797 to €6,979
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 | €396,208 | €863,597 | +€467,389 | +118.0% |
| Fixed assets | 21/28 | €375,234 | €784,183 | +€408,949 | +109.0% |
| Tangible fixed assets | 22/27 | €375,234 | €784,183 | +€408,949 | +109.0% |
| Land and buildings | 22 | €359,409 | €770,010 | +€410,601 | +114.2% |
| Plant, machinery and equipment | 23 | €15,825 | €14,173 | -€1,652 | -10.4% |
| Current assets | 29/58 | €20,974 | €79,414 | +€58,441 | +278.6% |
| Amounts receivable within one year | 40/41 | €6,272 | €1,674 | -€4,597 | -73.3% |
| Trade receivables | 40 | - | €277 | +€277 | |
| Other amounts receivable | 41 | €6,272 | €1,397 | -€4,875 | -77.7% |
| Cash at bank and in hand | 54/58 | €13,230 | €76,975 | +€63,745 | +481.8% |
| Deferred charges and accrued income | 490/1 | €1,472 | €765 | -€707 | -48.0% |
| Total equity and liabilities | 10/49 | €396,208 | €863,597 | +€467,389 | +118.0% |
| Equity | 10/15 | €200,624 | €653,999 | +€453,375 | +226.0% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Capital | 10 | €90,000 | €90,000 | = | 0.0% |
| Issued capital | 100 | €90,000 | €90,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €429,774 | +€429,774 | |
| Reserves | 13 | €8,696 | €32,295 | +€23,599 | +271.4% |
| Non-distributable reserves | 130/1 | €8,696 | €9,000 | +€304 | +3.5% |
| Legal reserve | 130 | €8,696 | €9,000 | +€304 | +3.5% |
| Distributable reserves | 133 | - | €23,295 | +€23,295 | |
| Profit (loss) carried forward | 14 | €101,928 | €101,930 | +€1 | 0.0% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Amounts payable | 17/49 | €195,584 | €209,598 | +€14,015 | +7.2% |
| Amounts payable after more than one year | 17 | €5,942 | €6,272 | +€330 | +5.6% |
| Other amounts payable | 178/9 | €5,942 | €6,272 | +€330 | +5.6% |
| Amounts payable within one year | 42/48 | €175,584 | €203,326 | +€27,743 | +15.8% |
| Trade debts | 44 | €1,117 | €963 | -€155 | -13.9% |
| Suppliers | 440/4 | €1,117 | €963 | -€155 | -13.9% |
| Taxes, remuneration and social security | 45 | €0 | €10,080 | +€10,080 | |
| Taxes | 450/3 | €0 | €10,080 | +€10,080 | |
| Other amounts payable | 47/48 | €174,467 | €192,284 | +€17,817 | +10.2% |
| Accrued charges and deferred income | 492/3 | €14,058 | €0 | -€14,058 | -100.0% |
| Non-recurring operating income | 76A | €797 | €708 | -€89 | -11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,050 | €20,826 | +€775 | +3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,907 | €0 | +€5,907 | |
| Other operating charges | 640/8 | €5,797 | €6,979 | +€1,182 | +20.4% |
| Non-recurring operating charges | 66A | - | €1,185 | +€1,185 | |
| Gross operating margin | 9900 | €52,732 | €67,334 | +€14,602 | +27.7% |
| Operating profit (loss) | 9901 | €32,792 | €38,344 | +€5,552 | +16.9% |
| Financial income | 75/76B | €2 | €1 | -€0 | -22.5% |
| Recurring financial income | 75 | €2 | €1 | -€0 | -22.5% |
| Financial charges | 65/66B | €13,970 | €12,416 | -€1,555 | -11.1% |
| Recurring financial charges | 65 | €13,970 | €12,416 | -€1,555 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €18,823 | €25,930 | +€7,107 | +37.8% |
| Income taxes | 67/77 | -€4 | €2,330 | +€2,334 | |
| Profit (loss) for the period | 9904 | €18,828 | €23,600 | +€4,773 | +25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,828 | €23,600 | +€4,773 | +25.3% |
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 12 October 2026 via checked.be.