PAIRI DAIZA: 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.
What changed
PAIRI DAIZA
NACE 93.293, Sports, amusement and recreation activities
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€14.0m
2025 · €16.0m-€2.0m
Equity
€202.1m
2025 · €197.2m+€4.9m
Cash
€9.4m
2025 · €11.2m-€1.9m
Balance sheet total
€579.7m
2025 · €498.4m+€81.3m
Largest movements
Assets
- Tangible fixed assets +€86.3m
up €86.3m (+18.5%), from €465.5m to €551.8m
Equity and liabilities
- Debts after one year +€62.9m
up €62.9m (+32.0%), from €196.5m to €259.3m
- Current portion of long-term debt +€11.5m
up €11.5m (+44.4%), from €26.0m to €37.5m
- Trade debts -€7.2m
down €7.2m (-15.7%), from €46.1m to €38.8m
Income statement
- Turnover +€18.6m
up €18.6m (+13.4%), from €138.9m to €157.5m
- Services and other goods +€7.1m
up €7.1m (+17.6%), from €40.4m to €47.5m
- Depreciation +€4.3m
up €4.3m (+15.9%), from €27.2m to €31.5m
- Staff costs +€3.2m
up €3.2m (+12.2%), from €26.4m to €29.6m
- Financial charges +€2.3m
up €2.3m (+22.3%), from €10.3m to €12.6m
From the 2025 result to the 2026 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.
Result 2025
€16.0m
Turnover
+€18.6m
Other operating income
+€100,799
Goods and materials
-€1.3m
Services and other goods
-€7.1m
Staff costs
-€3.2m
Depreciation
-€4.3m
Write-downs
+€46,935
Provisions
-€1.8m
Other operating charges
-€465,311
Other operating items
+€271,020
Financial income
-€302,502
Financial charges
-€2.3m
Taxes
-€161,523
Deferred taxes and other
-€40,004
Result 2026
€14.0m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€50.8m
Investment
-€118.0m
Financing
+€65.3m
Cash 2025
€11.2m
From operations (derived)
+€50.8m
Net result for the year
+€14.0m
Depreciation
+€31.5m
Stocks and contracts
-€860,910
Receivables within one year
+€4.4m
Deferred charges and accrued income
-€352,863
Provisions
+€1.8m
Trade debts
-€7.2m
Tax, wage and social debts
-€802,394
Advances received
+€4.2m
Other debts
+€542,091
Accrued charges and deferred income
+€3.5m
Investment (derived)
-€118.0m
Investment in fixed assets (net)
-€118.0m
Financing
+€65.3m
Debts after one year
+€62.9m
Current portion of long-term debt
+€11.5m
Short-term financial debts
-€1,419
Contributions, distributions and other
-€9.1m
Cash 2026
€9.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €498,385,874 | €579,734,835 | +€81.3m | +16.3% |
| Fixed assets | 21/28 | €466,032,766 | €552,488,000 | +€86.5m | +18.6% |
| Intangible fixed assets | 21 | €513,776 | €629,357 | +€115,581 | +22.5% |
| Tangible fixed assets | 22/27 | €465,490,755 | €551,830,408 | +€86.3m | +18.5% |
| Land and buildings | 22 | €340,308,241 | €378,497,713 | +€38.2m | +11.2% |
| Plant, machinery and equipment | 23 | €38,148,271 | €44,090,749 | +€5.9m | +15.6% |
| Furniture and vehicles | 24 | €14,423,240 | €16,615,742 | +€2.2m | +15.2% |
| Leasing and similar rights | 25 | - | €1,032,226 | +€1.0m | |
| Assets under construction and advance payments | 27 | €72,611,003 | €111,593,979 | +€39.0m | +53.7% |
| Financial fixed assets | 28 | €28,235 | €28,235 | = | 0.0% |
| Other financial fixed assets | 284/8 | €28,235 | €28,235 | = | 0.0% |
| Shares | 284 | €11,275 | €11,275 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €16,960 | €16,960 | = | 0.0% |
| Current assets | 29/58 | €32,353,109 | €27,246,836 | -€5.1m | -15.8% |
| Stocks and contracts in progress | 3 | €2,944,014 | €3,804,923 | +€860,910 | +29.2% |
| Stocks | 30/36 | €2,944,014 | €3,804,923 | +€860,910 | +29.2% |
| Raw materials and consumables | 30/31 | €5,063 | €9,735 | +€4,672 | +92.3% |
| Work in progress | 32 | - | €6,400 | +€6,400 | |
| Goods purchased for resale | 34 | €2,938,951 | €3,788,789 | +€849,838 | +28.9% |
| Amounts receivable within one year | 40/41 | €15,489,302 | €11,052,348 | -€4.4m | -28.6% |
| Trade receivables | 40 | €4,059,195 | €2,924,730 | -€1.1m | -27.9% |
| Other amounts receivable | 41 | €11,430,107 | €8,127,618 | -€3.3m | -28.9% |
| Cash at bank and in hand | 54/58 | €11,239,400 | €9,356,308 | -€1.9m | -16.8% |
| Deferred charges and accrued income | 490/1 | €2,680,393 | €3,033,256 | +€352,863 | +13.2% |
| Total equity and liabilities | 10/49 | €498,385,874 | €579,734,835 | +€81.3m | +16.3% |
| Equity | 10/15 | €197,234,640 | €202,123,150 | +€4.9m | +2.5% |
| Contributions | 10/11 | €11,175,000 | €11,175,000 | = | 0.0% |
| Capital | 10 | €11,175,000 | €11,175,000 | = | 0.0% |
| Issued capital | 100 | €11,175,000 | €11,175,000 | = | 0.0% |
| Revaluation surpluses | 12 | €153,443,033 | €153,443,033 | = | 0.0% |
| Reserves | 13 | €2,121,872 | €2,121,872 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,117,500 | €1,117,500 | = | 0.0% |
| Legal reserve | 130 | €1,117,500 | €1,117,500 | = | 0.0% |
| Distributable reserves | 133 | €1,004,372 | €1,004,372 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,031,729 | €25,392,361 | +€5.4m | +26.8% |
| Investment grants | 15 | €10,463,006 | €9,990,884 | -€472,122 | -4.5% |
| Provisions and deferred taxes | 16 | - | €1,809,118 | +€1.8m | |
| Provisions for liabilities and charges | 160/5 | - | €1,809,118 | +€1.8m | |
| Environmental obligations | 163 | - | €0 | = | |
| Other liabilities and charges | 164/5 | - | €1,809,118 | +€1.8m | |
| Amounts payable | 17/49 | €301,151,234 | €375,802,567 | +€74.7m | +24.8% |
| Amounts payable after more than one year | 17 | €196,468,914 | €259,326,874 | +€62.9m | +32.0% |
| Financial debts | 170/4 | €196,468,914 | €259,326,874 | +€62.9m | +32.0% |
| Subordinated loans | 170 | €42,000,000 | €38,400,000 | -€3.6m | -8.6% |
| Leasing and similar obligations | 172 | - | €828,696 | +€828,696 | |
| Credit institutions | 173 | €154,468,914 | €220,098,178 | +€65.6m | +42.5% |
| Amounts payable within one year | 42/48 | €96,669,814 | €104,944,800 | +€8.3m | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €25,973,602 | €37,516,046 | +€11.5m | +44.4% |
| Financial debts | 43 | €3,265 | €1,845 | -€1,419 | -43.5% |
| Credit institutions | 430/8 | €3,265 | €1,845 | -€1,419 | -43.5% |
| Trade debts | 44 | €46,063,164 | €38,822,731 | -€7.2m | -15.7% |
| Suppliers | 440/4 | €46,063,164 | €38,822,731 | -€7.2m | -15.7% |
| Advances received on contracts in progress | 46 | €9,681,065 | €13,915,761 | +€4.2m | +43.7% |
| Taxes, remuneration and social security | 45 | €5,380,255 | €4,577,862 | -€802,394 | -14.9% |
| Taxes | 450/3 | €897,056 | €317,159 | -€579,897 | -64.6% |
| Remuneration and social security | 454/9 | €4,483,199 | €4,260,702 | -€222,497 | -5.0% |
| Other amounts payable | 47/48 | €9,568,463 | €10,110,554 | +€542,091 | +5.7% |
| Accrued charges and deferred income | 492/3 | €8,012,506 | €11,530,894 | +€3.5m | +43.9% |
| Operating income | 70/76A | €141,728,949 | €160,780,885 | +€19.1m | +13.4% |
| Turnover | 70 | €138,914,741 | €157,474,779 | +€18.6m | +13.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€7,460 | €6,400 | +€13,860 | |
| Own construction capitalised | 72 | €644,142 | €1,022,664 | +€378,522 | +58.8% |
| Other operating income | 74 | €2,176,243 | €2,277,042 | +€100,799 | +4.6% |
| Non-recurring operating income | 76A | €1,283 | - | -€1,283 | |
| Operating charges | 60/66A | €111,188,085 | €129,441,676 | +€18.3m | +16.4% |
| Goods for resale, raw materials and consumables | 60 | €16,029,631 | €17,310,591 | +€1.3m | +8.0% |
| Purchases | 600/8 | €16,717,190 | €18,165,101 | +€1.4m | +8.7% |
| Change in stocks: decrease (increase) | 609 | -€687,560 | -€854,510 | -€166,950 | -24.3% |
| Services and other goods | 61 | €40,397,155 | €47,487,524 | +€7.1m | +17.6% |
| Remuneration, social security and pensions | 62 | €26,413,870 | €29,631,567 | +€3.2m | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,178,094 | €31,495,084 | +€4.3m | +15.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €58,906 | €11,970 | -€46,935 | -79.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €1,809,118 | +€1.8m | |
| Other operating charges | 640/8 | €974,253 | €1,439,565 | +€465,311 | +47.8% |
| Non-recurring operating charges | 66A | €136,177 | €256,257 | +€120,079 | +88.2% |
| Operating profit (loss) | 9901 | €30,540,864 | €31,339,210 | +€798,346 | +2.6% |
| Financial income | 75/76B | €1,236,871 | €934,369 | -€302,502 | -24.5% |
| Recurring financial income | 75 | €1,236,871 | €934,369 | -€302,502 | -24.5% |
| Income from current assets | 751 | €1,696 | €282 | -€1,414 | -83.4% |
| Other financial income | 752/9 | €1,235,175 | €934,087 | -€301,088 | -24.4% |
| Financial charges | 65/66B | €10,322,301 | €12,619,523 | +€2.3m | +22.3% |
| Recurring financial charges | 65 | €10,322,301 | €12,619,523 | +€2.3m | +22.3% |
| Debt charges | 650 | €10,000,993 | €10,685,461 | +€684,468 | +6.8% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €1,654,393 | +€1.7m | |
| Other financial charges | 652/9 | €321,307 | €279,668 | -€41,639 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €21,455,434 | €19,654,056 | -€1.8m | -8.4% |
| Transfer from deferred taxes | 780 | €40,004 | - | -€40,004 | |
| Income taxes | 67/77 | €5,490,695 | €5,652,217 | +€161,523 | +2.9% |
| Taxes | 670/3 | €5,528,035 | €5,914,837 | +€386,802 | +7.0% |
| Tax adjustments and reversals of tax provisions | 77 | €37,341 | €262,620 | +€225,279 | +603% |
| Profit (loss) for the period | 9904 | €16,004,743 | €14,001,839 | -€2.0m | -12.5% |
| Transfer from tax-exempt reserves | 789 | €47,679 | - | -€47,679 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,052,422 | €14,001,839 | -€2.1m | -12.8% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.