Pajotfin: 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.
Pajotfin
Largest movements
- Cash -€145,052
down €145,052 (-33.2%), from €436,552 to €291,500
mainly Contributions, distributions and other (-€156,337) and Receivables within one year (-€22,328)
- Receivables within one year +€22,328
up €22,328, from €0 to €22,328
of which Other amounts receivable: +€21,837
- Reserves -€106,234
down €106,234 (-31.0%), from €343,115 to €236,881
- Tax, wage and social debts -€20,608
down €20,608 (-20.0%), from €102,942 to €82,334
of which Taxes: -€22,145
- Gross operating margin -€119,428
down €119,428 (-11.8%), from €1.0m to €894,560
- Taxes -€36,487
down €36,487 (-48.4%), from €75,344 to €38,857
- Staff costs +€26,125
up €26,125 (+3.4%), from €773,453 to €799,578
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 | €469,497 | €344,433 | -€125,064 | -26.6% |
| Fixed assets | 21/28 | €272 | €0 | -€272 | -100% |
| Tangible fixed assets | 22/27 | €272 | €0 | -€272 | -100% |
| Furniture and vehicles | 24 | €272 | €0 | -€272 | -100% |
| Current assets | 29/58 | €469,225 | €344,433 | -€124,793 | -26.6% |
| Amounts receivable within one year | 40/41 | €0 | €22,328 | +€22,328 | |
| Trade receivables | 40 | - | €491 | +€491 | |
| Other amounts receivable | 41 | €0 | €21,837 | +€21,837 | |
| Cash at bank and in hand | 54/58 | €436,552 | €291,500 | -€145,052 | -33.2% |
| Deferred charges and accrued income | 490/1 | €32,674 | €30,605 | -€2,069 | -6.3% |
| Total equity and liabilities | 10/49 | €469,497 | €344,433 | -€125,064 | -26.6% |
| Equity | 10/15 | €361,715 | €255,481 | -€106,234 | -29.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €343,115 | €236,881 | -€106,234 | -31.0% |
| Distributable reserves | 133 | €343,115 | €236,881 | -€106,234 | -31.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €107,782 | €88,952 | -€18,830 | -17.5% |
| Amounts payable within one year | 42/48 | €107,782 | €88,952 | -€18,830 | -17.5% |
| Current portion of amounts payable after more than one year | 42 | €2,537 | €3,333 | +€797 | +31.4% |
| Trade debts | 44 | €2,304 | €3,207 | +€904 | +39.2% |
| Suppliers | 440/4 | €2,304 | €3,207 | +€904 | +39.2% |
| Taxes, remuneration and social security | 45 | €102,942 | €82,334 | -€20,608 | -20.0% |
| Taxes | 450/3 | €22,145 | €0 | -€22,145 | -100% |
| Remuneration and social security | 454/9 | €80,797 | €82,334 | +€1,537 | +1.9% |
| Other amounts payable | 47/48 | - | €78 | +€78 | |
| Remuneration, social security and pensions | 62 | €773,453 | €799,578 | +€26,125 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,080 | €272 | -€808 | -74.8% |
| Other operating charges | 640/8 | €2,382 | €2,065 | -€318 | -13.3% |
| Non-recurring operating charges | 66A | €5,644 | €0 | -€5,644 | -100% |
| Gross operating margin | 9900 | €1,013,988 | €894,560 | -€119,428 | -11.8% |
| Operating profit (loss) | 9901 | €231,429 | €92,646 | -€138,783 | -60.0% |
| Financial income | 75/76B | €2,365 | €2,779 | +€414 | +17.5% |
| Recurring financial income | 75 | €2,365 | €2,779 | +€414 | +17.5% |
| Financial charges | 65/66B | €4,215 | €6,465 | +€2,251 | +53.4% |
| Recurring financial charges | 65 | €4,215 | €6,465 | +€2,251 | +53.4% |
| Profit (loss) for the period before taxes | 9903 | €229,580 | €88,960 | -€140,620 | -61.3% |
| Income taxes | 67/77 | €75,344 | €38,857 | -€36,487 | -48.4% |
| Profit (loss) for the period | 9904 | €154,236 | €50,103 | -€104,133 | -67.5% |
| Profit (loss) for the period to be appropriated | 9905 | €154,236 | €50,103 | -€104,133 | -67.5% |
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 28 October 2026 via checked.be.