PAJERO: 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.
PAJERO
Largest movements
- Receivables within one year +€41,122
up €41,122 (+209%), from €19,669 to €60,791
of which Trade receivables: +€33,951
- Cash +€15,431
up €15,431 (+70.4%), from €21,916 to €37,347
mainly Net result for the year (+€49,856) and Other debts (+€46,998)
- Tangible fixed assets +€6,096
up €6,096 (+8,351%), from €73 to €6,169
of which Other tangible fixed assets: +€4,086
- Intangible fixed assets +€2,140
up €2,140 (+556%), from €385 to €2,525
- Other debts +€46,998
up €46,998 (+1,566%), from €3,002 to €50,000
- Trade debts +€10,461
new in 2025: €10,461
- Tax, wage and social debts +€8,882
up €8,882 (+94.5%), from €9,399 to €18,281
of which Taxes: +€7,366
- Current portion of long-term debt -€1,310
no longer reported in 2025 (was €1,310)
- Turnover +€124,074
up €124,074 (+117%), from €106,353 to €230,427
- Gross operating margin +€71,941
up €71,941, from -€9 to €71,932
- Purchases and services +€64,902
up €64,902 (+59.3%), from €109,362 to €174,264
- Taxes +€10,973
up €10,973 (+14,631%), from €75 to €11,048
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 | €42,655 | €107,542 | +€64,887 | +152% |
| Fixed assets | 21/28 | €663 | €8,899 | +€8,236 | +1,242% |
| Intangible fixed assets | 21 | €385 | €2,525 | +€2,140 | +556% |
| Tangible fixed assets | 22/27 | €73 | €6,169 | +€6,096 | +8,351% |
| Plant, machinery and equipment | 23 | - | €1,575 | +€1,575 | |
| Furniture and vehicles | 24 | €73 | €508 | +€435 | +596% |
| Other tangible fixed assets | 26 | - | €4,086 | +€4,086 | |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €41,992 | €98,643 | +€56,651 | +135% |
| Amounts receivable within one year | 40/41 | €19,669 | €60,791 | +€41,122 | +209% |
| Trade receivables | 40 | €19,669 | €53,620 | +€33,951 | +173% |
| Other amounts receivable | 41 | - | €7,171 | +€7,171 | |
| Cash at bank and in hand | 54/58 | €21,916 | €37,347 | +€15,431 | +70.4% |
| Deferred charges and accrued income | 490/1 | €407 | €505 | +€98 | +24.1% |
| Total equity and liabilities | 10/49 | €42,655 | €107,542 | +€64,887 | +152% |
| Equity | 10/15 | €28,944 | €28,800 | -€144 | -0.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,944 | €26,800 | -€144 | -0.5% |
| Amounts payable | 17/49 | €13,711 | €78,742 | +€65,031 | +474% |
| Amounts payable within one year | 42/48 | €13,711 | €78,742 | +€65,031 | +474% |
| Current portion of amounts payable after more than one year | 42 | €1,310 | - | -€1,310 | |
| Trade debts | 44 | - | €10,461 | +€10,461 | |
| Suppliers | 440/4 | - | €10,461 | +€10,461 | |
| Taxes, remuneration and social security | 45 | €9,399 | €18,281 | +€8,882 | +94.5% |
| Taxes | 450/3 | €9,268 | €16,634 | +€7,366 | +79.5% |
| Remuneration and social security | 454/9 | €131 | €1,647 | +€1,516 | +1,157% |
| Other amounts payable | 47/48 | €3,002 | €50,000 | +€46,998 | +1,566% |
| Turnover | 70 | €106,353 | €230,427 | +€124,074 | +117% |
| Goods, raw materials, services and sundry goods | 60/61 | €109,362 | €174,264 | +€64,902 | +59.3% |
| Remuneration, social security and pensions | 62 | €10,165 | €9,936 | -€229 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,418 | €791 | -€627 | -44.2% |
| Other operating charges | 640/8 | - | €127 | +€127 | |
| Gross operating margin | 9900 | -€9 | €71,932 | +€71,941 | |
| Operating profit (loss) | 9901 | -€11,592 | €61,078 | +€72,670 | |
| Financial income | 75/76B | €27 | €146 | +€119 | +441% |
| Recurring financial income | 75 | €27 | €146 | +€119 | +441% |
| Financial charges | 65/66B | €300 | €320 | +€20 | +6.7% |
| Recurring financial charges | 65 | €300 | €320 | +€20 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | -€11,865 | €60,904 | +€72,769 | |
| Income taxes | 67/77 | €75 | €11,048 | +€10,973 | +14,631% |
| Profit (loss) for the period | 9904 | -€11,940 | €49,856 | +€61,796 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,940 | €49,856 | +€61,796 |
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 30 October 2026 via checked.be.