PAJOT 41: 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.
PAJOT 41
Largest movements
- Tangible fixed assets -€42,126
down €42,126 (-2.6%), from €1.6m to €1.6m
of which Land and buildings: -€43,546
- Cash -€24,335
down €24,335 (-58.3%), from €41,732 to €17,397
mainly Debts after one year (-€35,250) and Net result for the year (-€27,605)
- Debts after one year -€35,250
down €35,250 (-5.0%), from €703,778 to €668,528
- Profit (loss) carried forward -€27,605
down €27,605 (-21.5%), from -€128,429 to -€156,034
- Financial charges -€6,506
down €6,506 (-12.9%), from €50,321 to €43,815
- Gross operating margin +€5,744
up €5,744 (+10.4%), from €55,412 to €61,156
- Other operating charges -€3,013
down €3,013 (-70.0%), from €4,303 to €1,290
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 | €1,637,580 | €1,571,144 | -€66,436 | -4.1% |
| Fixed assets | 21/28 | €1,595,232 | €1,553,106 | -€42,126 | -2.6% |
| Tangible fixed assets | 22/27 | €1,595,232 | €1,553,106 | -€42,126 | -2.6% |
| Land and buildings | 22 | €1,595,232 | €1,551,686 | -€43,546 | -2.7% |
| Plant, machinery and equipment | 23 | - | €1,420 | +€1,420 | |
| Current assets | 29/58 | €42,348 | €18,038 | -€24,310 | -57.4% |
| Cash at bank and in hand | 54/58 | €41,732 | €17,397 | -€24,335 | -58.3% |
| Deferred charges and accrued income | 490/1 | €616 | €641 | +€24 | +4.0% |
| Total equity and liabilities | 10/49 | €1,637,580 | €1,571,144 | -€66,436 | -4.1% |
| Equity | 10/15 | €245,571 | €217,966 | -€27,605 | -11.2% |
| Contributions | 10/11 | €374,000 | €374,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€128,429 | -€156,034 | -€27,605 | -21.5% |
| Amounts payable | 17/49 | €1,392,010 | €1,353,178 | -€38,831 | -2.8% |
| Amounts payable after more than one year | 17 | €703,778 | €668,528 | -€35,250 | -5.0% |
| Financial debts | 170/4 | €703,778 | €668,528 | -€35,250 | -5.0% |
| Amounts payable within one year | 42/48 | €655,717 | €656,769 | +€1,052 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €37,253 | €38,149 | +€896 | +2.4% |
| Trade debts | 44 | €601 | €757 | +€156 | +25.9% |
| Suppliers | 440/4 | €601 | €757 | +€156 | +25.9% |
| Other amounts payable | 47/48 | €617,863 | €617,863 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €32,515 | €27,881 | -€4,634 | -14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,411 | €43,655 | +€245 | +0.6% |
| Other operating charges | 640/8 | €4,303 | €1,290 | -€3,013 | -70.0% |
| Gross operating margin | 9900 | €55,412 | €61,156 | +€5,744 | +10.4% |
| Operating profit (loss) | 9901 | €7,698 | €16,210 | +€8,512 | +111% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €50,321 | €43,815 | -€6,506 | -12.9% |
| Recurring financial charges | 65 | €50,321 | €43,815 | -€6,506 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | -€42,623 | -€27,605 | +€15,018 | +35.2% |
| Profit (loss) for the period | 9904 | -€42,623 | -€27,605 | +€15,018 | +35.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,623 | -€27,605 | +€15,018 | +35.2% |
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 23 October 2026 via checked.be.