PAGAMAT: 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.
PAGAMAT
Largest movements
- Current investments +€100,863
up €100,863 (+82.6%), from €122,082 to €222,945
- Tangible fixed assets -€55,965
down €55,965 (-21.7%), from €257,895 to €201,930
of which Furniture and vehicles: -€48,899
- Receivables within one year -€12,570
down €12,570 (-25.6%), from €49,136 to €36,567
of which Trade receivables: -€11,809
- Deferred charges and accrued income -€8,694
down €8,694 (-61.1%), from €14,228 to €5,534
- Reserves +€30,000
up €30,000 (+19.6%), from €152,905 to €182,905
of which Distributable reserves: +€30,000
- Profit (loss) carried forward -€17,761
down €17,761 (-29.3%), from €60,551 to €42,790
- Tax, wage and social debts +€12,566
up €12,566 (+186%), from €6,765 to €19,331
- Gross operating margin +€25,246
up €25,246 (+22.6%), from €111,553 to €136,800
- Depreciation +€15,905
up €15,905 (+39.7%), from €40,060 to €55,965
- Taxes +€8,229
up €8,229 (+52.8%), from €15,584 to €23,814
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.
Derived cash bridge
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 | €579,880 | €603,605 | +€23,725 | +4.1% |
| Fixed assets | 21/28 | €257,895 | €201,930 | -€55,965 | -21.7% |
| Tangible fixed assets | 22/27 | €257,895 | €201,930 | -€55,965 | -21.7% |
| Plant, machinery and equipment | 23 | €32,193 | €25,127 | -€7,066 | -21.9% |
| Furniture and vehicles | 24 | €225,702 | €176,803 | -€48,899 | -21.7% |
| Current assets | 29/58 | €321,985 | €401,675 | +€79,690 | +24.7% |
| Amounts receivable within one year | 40/41 | €49,136 | €36,567 | -€12,570 | -25.6% |
| Trade receivables | 40 | €43,376 | €31,567 | -€11,809 | -27.2% |
| Other amounts receivable | 41 | €5,760 | €5,000 | -€760 | -13.2% |
| Current investments | 50/53 | €122,082 | €222,945 | +€100,863 | +82.6% |
| Cash at bank and in hand | 54/58 | €136,539 | €136,630 | +€91 | +0.1% |
| Deferred charges and accrued income | 490/1 | €14,228 | €5,534 | -€8,694 | -61.1% |
| Total equity and liabilities | 10/49 | €579,880 | €603,605 | +€23,725 | +4.1% |
| Equity | 10/15 | €486,883 | €499,122 | +€12,239 | +2.5% |
| Contributions | 10/11 | €273,427 | €273,427 | = | 0.0% |
| Reserves | 13 | €152,905 | €182,905 | +€30,000 | +19.6% |
| Tax-exempt reserves | 132 | €11,045 | €11,045 | = | 0.0% |
| Distributable reserves | 133 | €141,860 | €171,860 | +€30,000 | +21.1% |
| Profit (loss) carried forward | 14 | €60,551 | €42,790 | -€17,761 | -29.3% |
| Amounts payable | 17/49 | €92,997 | €104,483 | +€11,486 | +12.4% |
| Amounts payable within one year | 42/48 | €92,612 | €104,095 | +€11,483 | +12.4% |
| Trade debts | 44 | €149 | €66 | -€83 | -55.7% |
| Suppliers | 440/4 | €149 | €66 | -€83 | -55.7% |
| Taxes, remuneration and social security | 45 | €6,765 | €19,331 | +€12,566 | +186% |
| Taxes | 450/3 | €6,765 | €19,331 | +€12,566 | +186% |
| Other amounts payable | 47/48 | €85,698 | €84,698 | -€1,000 | -1.2% |
| Accrued charges and deferred income | 492/3 | €384 | €387 | +€3 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,060 | €55,965 | +€15,905 | +39.7% |
| Other operating charges | 640/8 | €1,495 | €913 | -€582 | -38.9% |
| Gross operating margin | 9900 | €111,553 | €136,800 | +€25,246 | +22.6% |
| Operating profit (loss) | 9901 | €69,998 | €79,922 | +€9,923 | +14.2% |
| Financial income | 75/76B | €1,150 | €1,233 | +€83 | +7.2% |
| Recurring financial income | 75 | €1,150 | €1,233 | +€83 | +7.2% |
| Financial charges | 65/66B | €94 | €102 | +€8 | +8.5% |
| Recurring financial charges | 65 | €94 | €102 | +€8 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €71,054 | €81,053 | +€9,998 | +14.1% |
| Income taxes | 67/77 | €15,584 | €23,814 | +€8,229 | +52.8% |
| Profit (loss) for the period | 9904 | €55,470 | €57,239 | +€1,769 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €55,470 | €57,239 | +€1,769 | +3.2% |
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 18 October 2026 via checked.be.