PAJ LITERIE: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
What changed
PAJ LITERIE
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.3m
2024 · €2.4m-€159,668
Equity
€21.9m
2024 · €19.6m+€2.3m
Cash
€613,264
2024 · €3.4m-€2.8m
Balance sheet total
€36.4m
2024 · €36.0m+€449,180
Largest movements
Assets
- Current investments +€2.9m
up €2.9m (+483%), from €600,000 to €3.5m
- Cash -€2.8m
down €2.8m (-82.1%), from €3.4m to €613,264
mainly Current investments (-€2.9m) and Debts after one year (-€2.2m)
Equity and liabilities
- Debts after one year -€2.2m
down €2.2m (-18.8%), from €11.8m to €9.6m
- Profit (loss) carried forward +€2.1m
up €2.1m (+25.8%), from €8.3m to €10.4m
Income statement
- Financial charges -€312,424
down €312,424 (-38.8%), from €805,958 to €493,534
- Services and other goods +€295,337
up €295,337 (+32.5%), from €908,720 to €1.2m
- Financial income -€136,724
down €136,724 (-4.6%), from €3.0m to €2.9m
- Turnover -€40,000
down €40,000 (-3.5%), from €1.1m to €1.1m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€2.4m
Turnover
-€40,000
Services and other goods
-€295,337
Other operating charges
-€31
Financial income
-€136,724
Financial charges
+€312,424
Result 2025
€2.3m
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2.6m
Investment
-€3.2m
Financing
-€2.2m
Cash 2024
€3.4m
From operations (derived)
+€2.6m
Net result for the year
+€2.3m
Receivables within one year
+€1,202
Deferred charges and accrued income
-€76,309
Trade debts
+€158,607
Other debts
+€316,550
Accrued charges and deferred income
-€62,895
Investment (derived)
-€3.2m
Investment in fixed assets (net)
-€286,235
Current investments
-€2.9m
Financing
-€2.2m
Debts after one year
-€2.2m
Cash 2025
€613,264
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €35,952,507 | €36,401,687 | +€449,180 | +1.2% |
| Fixed assets | 21/28 | €31,300,779 | €31,587,014 | +€286,235 | +0.9% |
| Financial fixed assets | 28 | €31,300,779 | €31,587,014 | +€286,235 | +0.9% |
| Affiliated companies | 280/1 | €31,300,779 | €31,300,779 | = | 0.0% |
| Participating interests | 280 | €31,300,779 | €31,300,779 | = | 0.0% |
| Companies linked by participating interests | 282/3 | - | €286,235 | +€286,235 | |
| Participating interests | 282 | - | €286,235 | +€286,235 | |
| Current assets | 29/58 | €4,651,728 | €4,814,673 | +€162,945 | +3.5% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €626,302 | €625,100 | -€1,202 | -0.2% |
| Trade receivables | 40 | €62,449 | €61,868 | -€581 | -0.9% |
| Other amounts receivable | 41 | €563,853 | €563,232 | -€621 | -0.1% |
| Current investments | 50/53 | €600,000 | €3,500,000 | +€2.9m | +483% |
| Other investments | 51/53 | €600,000 | €3,500,000 | +€2.9m | +483% |
| Cash at bank and in hand | 54/58 | €3,425,427 | €613,264 | -€2.8m | -82.1% |
| Deferred charges and accrued income | 490/1 | - | €76,309 | +€76,309 | |
| Total equity and liabilities | 10/49 | €35,952,507 | €36,401,687 | +€449,180 | +1.2% |
| Equity | 10/15 | €19,615,286 | €21,866,488 | +€2.3m | +11.5% |
| Contributions | 10/11 | €10,900,000 | €10,900,000 | = | 0.0% |
| Capital | 10 | €10,900,000 | €10,900,000 | = | 0.0% |
| Issued capital | 100 | €10,900,000 | €10,900,000 | = | 0.0% |
| Reserves | 13 | €435,764 | €548,616 | +€112,852 | +25.9% |
| Non-distributable reserves | 130/1 | €435,764 | €548,616 | +€112,852 | +25.9% |
| Legal reserve | 130 | €435,764 | €548,616 | +€112,852 | +25.9% |
| Profit (loss) carried forward | 14 | €8,279,521 | €10,417,872 | +€2.1m | +25.8% |
| Amounts payable | 17/49 | €16,337,221 | €14,535,198 | -€1.8m | -11.0% |
| Amounts payable after more than one year | 17 | €11,782,357 | €9,568,071 | -€2.2m | -18.8% |
| Financial debts | 170/4 | €11,782,357 | €9,568,071 | -€2.2m | -18.8% |
| Credit institutions | 173 | €11,782,357 | €9,568,071 | -€2.2m | -18.8% |
| Amounts payable within one year | 42/48 | €4,391,296 | €4,866,454 | +€475,157 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €2,214,286 | €2,214,286 | = | 0.0% |
| Trade debts | 44 | €99,984 | €258,591 | +€158,607 | +159% |
| Suppliers | 440/4 | €99,984 | €258,591 | +€158,607 | +159% |
| Other amounts payable | 47/48 | €2,077,026 | €2,393,576 | +€316,550 | +15.2% |
| Accrued charges and deferred income | 492/3 | €163,568 | €100,673 | -€62,895 | -38.5% |
| Operating income | 70/76A | €1,133,500 | €1,093,500 | -€40,000 | -3.5% |
| Turnover | 70 | €1,133,500 | €1,093,500 | -€40,000 | -3.5% |
| Operating charges | 60/66A | €909,687 | €1,205,055 | +€295,368 | +32.5% |
| Services and other goods | 61 | €908,720 | €1,204,057 | +€295,337 | +32.5% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Operating profit (loss) | 9901 | €223,813 | -€111,555 | -€335,368 | |
| Financial income | 75/76B | €2,993,017 | €2,856,293 | -€136,724 | -4.6% |
| Recurring financial income | 75 | €2,993,017 | €2,856,293 | -€136,724 | -4.6% |
| Income from financial fixed assets | 750 | €2,746,500 | €2,746,500 | = | 0.0% |
| Income from current assets | 751 | €218,657 | €109,793 | -€108,864 | -49.8% |
| Other financial income | 752/9 | €27,860 | €0 | -€27,860 | -100.0% |
| Financial charges | 65/66B | €805,958 | €493,534 | -€312,424 | -38.8% |
| Recurring financial charges | 65 | €805,958 | €493,534 | -€312,424 | -38.8% |
| Debt charges | 650 | - | €485,369 | +€485,369 | |
| Other financial charges | 652/9 | €805,958 | €8,165 | -€797,793 | -99.0% |
| Profit (loss) for the period before taxes | 9903 | €2,410,871 | €2,251,203 | -€159,668 | -6.6% |
| Profit (loss) for the period | 9904 | €2,410,871 | €2,251,203 | -€159,668 | -6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,410,871 | €2,251,203 | -€159,668 | -6.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.