PAFIMA: 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.
PAFIMA
Largest movements
- Receivables after one year -€15,893
down €15,893 (-70.5%), from €22,538 to €6,645
- Receivables within one year -€12,070
down €12,070 (-51.7%), from €23,344 to €11,274
of which Trade receivables: -€9,600
- Financial fixed assets +€9,375
up €9,375 (+187.5%), from €5,000 to €14,375
- Tangible fixed assets -€8,501
down €8,501 (-12.5%), from €68,265 to €59,765
of which Land and buildings: -€8,631
- Cash +€3,122
up €3,122 (+6.2%), from €50,495 to €53,617
mainly Receivables after one year (+€15,893) and Receivables within one year (+€12,070)
- Debts after one year -€19,763
down €19,763 (-47.7%), from €41,397 to €21,634
- Other debts -€10,938
down €10,938 (-46.3%), from €23,613 to €12,675
- Reserves +€5,171
up €5,171 (+24.9%), from €20,790 to €25,961
of which Distributable reserves: +€5,171
- Trade debts +€2,001
up €2,001 (+44.0%), from €4,547 to €6,548
- Depreciation -€8,575
down €8,575 (-43.9%), from €19,525 to €10,950
- Gross operating margin +€3,943
up €3,943 (+13.9%), from €28,386 to €32,329
- Taxes +€3,458
up €3,458 (+239.5%), from €1,444 to €4,902
- Financial charges -€1,046
down €1,046 (-24.1%), from €4,347 to €3,300
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 | €171,898 | €148,072 | -€23,826 | -13.9% |
| Fixed assets | 21/28 | €73,265 | €74,140 | +€874 | +1.2% |
| Tangible fixed assets | 22/27 | €68,265 | €59,765 | -€8,501 | -12.5% |
| Land and buildings | 22 | €60,500 | €51,869 | -€8,631 | -14.3% |
| Plant, machinery and equipment | 23 | - | €2,253 | +€2,253 | |
| Furniture and vehicles | 24 | €3,699 | €1,760 | -€1,938 | -52.4% |
| Other tangible fixed assets | 26 | €4,067 | €3,882 | -€185 | -4.5% |
| Financial fixed assets | 28 | €5,000 | €14,375 | +€9,375 | +187.5% |
| Current assets | 29/58 | €98,633 | €73,932 | -€24,701 | -25.0% |
| Amounts receivable after more than one year | 29 | €22,538 | €6,645 | -€15,893 | -70.5% |
| Other amounts receivable | 291 | €22,538 | €6,645 | -€15,893 | -70.5% |
| Amounts receivable within one year | 40/41 | €23,344 | €11,274 | -€12,070 | -51.7% |
| Trade receivables | 40 | €20,640 | €11,040 | -€9,600 | -46.5% |
| Other amounts receivable | 41 | €2,704 | €234 | -€2,470 | -91.3% |
| Cash at bank and in hand | 54/58 | €50,495 | €53,617 | +€3,122 | +6.2% |
| Deferred charges and accrued income | 490/1 | €2,256 | €2,395 | +€140 | +6.2% |
| Total equity and liabilities | 10/49 | €171,898 | €148,072 | -€23,826 | -13.9% |
| Equity | 10/15 | €77,674 | €82,845 | +€5,171 | +6.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €20,790 | €25,961 | +€5,171 | +24.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €18,930 | €24,101 | +€5,171 | +27.3% |
| Profit (loss) carried forward | 14 | €44,484 | €44,484 | = | 0.0% |
| Amounts payable | 17/49 | €94,224 | €65,226 | -€28,998 | -30.8% |
| Amounts payable after more than one year | 17 | €41,397 | €21,634 | -€19,763 | -47.7% |
| Financial debts | 170/4 | €41,397 | €21,634 | -€19,763 | -47.7% |
| Amounts payable within one year | 42/48 | €52,077 | €43,593 | -€8,485 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €20,337 | €21,141 | +€804 | +4.0% |
| Trade debts | 44 | €4,547 | €6,548 | +€2,001 | +44.0% |
| Suppliers | 440/4 | €4,547 | €6,548 | +€2,001 | +44.0% |
| Taxes, remuneration and social security | 45 | €3,580 | €3,228 | -€352 | -9.8% |
| Taxes | 450/3 | €1,759 | €1,367 | -€392 | -22.3% |
| Remuneration and social security | 454/9 | €1,821 | €1,861 | +€40 | +2.2% |
| Other amounts payable | 47/48 | €23,613 | €12,675 | -€10,938 | -46.3% |
| Accrued charges and deferred income | 492/3 | €750 | - | -€750 | |
| Remuneration, social security and pensions | 62 | - | €247 | +€247 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,525 | €10,950 | -€8,575 | -43.9% |
| Other operating charges | 640/8 | €2,218 | €2,271 | +€53 | +2.4% |
| Gross operating margin | 9900 | €28,386 | €32,329 | +€3,943 | +13.9% |
| Operating profit (loss) | 9901 | €6,643 | €18,862 | +€12,219 | +184.0% |
| Financial income | 75/76B | €166 | €177 | +€11 | +6.5% |
| Recurring financial income | 75 | €166 | €177 | +€11 | +6.5% |
| Financial charges | 65/66B | €4,347 | €3,300 | -€1,046 | -24.1% |
| Recurring financial charges | 65 | €4,347 | €3,300 | -€1,046 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €2,462 | €15,738 | +€13,276 | +539.3% |
| Income taxes | 67/77 | €1,444 | €4,902 | +€3,458 | +239.5% |
| Profit (loss) for the period | 9904 | €1,018 | €10,836 | +€9,818 | +964.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,018 | €10,836 | +€9,818 | +964.4% |
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 4 October 2026 via checked.be.