PAJOT EXPERIENCE: 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 EXPERIENCE
Largest movements
- Receivables within one year +€9,551
up €9,551 (+20.5%), from €46,585 to €56,136
of which Trade receivables: +€12,220
- Cash -€5,220
down €5,220 (-65.4%), from €7,985 to €2,764
mainly Investment in fixed assets (net) (-€16,250) and Receivables within one year (-€9,551)
- Intangible fixed assets +€3,377
up €3,377 (+106%), from €3,176 to €6,553
- Tangible fixed assets -€1,319
down €1,319 (-4.3%), from €30,813 to €29,494
of which Other tangible fixed assets: -€1,367
- Trade debts +€13,250
up €13,250 (+43.3%), from €30,578 to €43,828
- Other debts -€3,656
down €3,656 (-16.6%), from €22,030 to €18,374
- Advances received -€2,930
down €2,930 (-44.0%), from €6,666 to €3,736
- Profit (loss) carried forward +€1,922
up €1,922 (+21.2%), from €9,045 to €10,967
- Tax, wage and social debts -€1,638
down €1,638 (-95.9%), from €1,709 to €70
of which Remuneration and social security: -€1,594
- Gross operating margin -€3,617
down €3,617 (-15.8%), from €22,923 to €19,306
- Other operating charges +€2,743
up €2,743 (+186%), from €1,474 to €4,217
- Write-downs -€2,613
down €2,613, from €0 to -€2,613
- Depreciation +€1,337
up €1,337 (+10.4%), from €12,855 to €14,192
- Financial income -€512
down €512 (-50.5%), from €1,013 to €502
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 | €96,582 | €102,167 | +€5,586 | +5.8% |
| Fixed assets | 21/28 | €34,089 | €36,147 | +€2,058 | +6.0% |
| Intangible fixed assets | 21 | €3,176 | €6,553 | +€3,377 | +106% |
| Tangible fixed assets | 22/27 | €30,813 | €29,494 | -€1,319 | -4.3% |
| Plant, machinery and equipment | 23 | €4,143 | €4,459 | +€316 | +7.6% |
| Furniture and vehicles | 24 | €15,270 | €15,002 | -€268 | -1.8% |
| Other tangible fixed assets | 26 | €11,400 | €10,033 | -€1,367 | -12.0% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €62,492 | €66,020 | +€3,527 | +5.6% |
| Amounts receivable within one year | 40/41 | €46,585 | €56,136 | +€9,551 | +20.5% |
| Trade receivables | 40 | €43,110 | €55,330 | +€12,220 | +28.3% |
| Other amounts receivable | 41 | €3,475 | €806 | -€2,669 | -76.8% |
| Cash at bank and in hand | 54/58 | €7,985 | €2,764 | -€5,220 | -65.4% |
| Deferred charges and accrued income | 490/1 | €7,923 | €7,119 | -€804 | -10.1% |
| Total equity and liabilities | 10/49 | €96,582 | €102,167 | +€5,586 | +5.8% |
| Equity | 10/15 | €27,645 | €29,567 | +€1,922 | +7.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,045 | €10,967 | +€1,922 | +21.2% |
| Amounts payable | 17/49 | €68,936 | €72,600 | +€3,664 | +5.3% |
| Amounts payable within one year | 42/48 | €68,936 | €72,600 | +€3,664 | +5.3% |
| Financial debts | 43 | €7,954 | €6,592 | -€1,362 | -17.1% |
| Credit institutions | 430/8 | €7,954 | €6,592 | -€1,362 | -17.1% |
| Trade debts | 44 | €30,578 | €43,828 | +€13,250 | +43.3% |
| Suppliers | 440/4 | €30,578 | €43,828 | +€13,250 | +43.3% |
| Advances received on contracts in progress | 46 | €6,666 | €3,736 | -€2,930 | -44.0% |
| Taxes, remuneration and social security | 45 | €1,709 | €70 | -€1,638 | -95.9% |
| Taxes | 450/3 | €114 | €70 | -€44 | -38.5% |
| Remuneration and social security | 454/9 | €1,594 | €0 | -€1,594 | -100% |
| Other amounts payable | 47/48 | €22,030 | €18,374 | -€3,656 | -16.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,855 | €14,192 | +€1,337 | +10.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€2,613 | -€2,613 | |
| Other operating charges | 640/8 | €1,474 | €4,217 | +€2,743 | +186% |
| Gross operating margin | 9900 | €22,923 | €19,306 | -€3,617 | -15.8% |
| Operating profit (loss) | 9901 | €8,595 | €3,510 | -€5,084 | -59.2% |
| Financial income | 75/76B | €1,013 | €502 | -€512 | -50.5% |
| Recurring financial income | 75 | €1,013 | €502 | -€512 | -50.5% |
| Financial charges | 65/66B | €1,427 | €1,049 | -€378 | -26.5% |
| Recurring financial charges | 65 | €1,427 | €1,049 | -€378 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | €8,181 | €2,963 | -€5,218 | -63.8% |
| Income taxes | 67/77 | €1,070 | €1,041 | -€29 | -2.7% |
| Profit (loss) for the period | 9904 | €7,111 | €1,922 | -€5,189 | -73.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,111 | €1,922 | -€5,189 | -73.0% |
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 17 October 2026 via checked.be.