Pajottenlander: what changed
Two fiscal 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.
Pajottenlander
Largest movements
- Receivables within one year +€451,083
up €451,083 (+28.8%), from €1.6m to €2.0m
of which Other amounts receivable: +€471,218
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Cash +€231,058
up €231,058 (+232.6%), from €99,333 to €330,391
mainly Current investments (+€400,000) and Net result for the year (+€373,741)
- Stocks and contracts +€212,726
up €212,726 (+16.1%), from €1.3m to €1.5m
- Profit (loss) carried forward +€373,741
up €373,741 (+23.2%), from €1.6m to €2.0m
- Other debts +€121,432
up €121,432 (+10.6%), from €1.1m to €1.3m
- Trade debts +€63,742
up €63,742 (+14.4%), from €443,923 to €507,666
- Debts after one year -€56,251
down €56,251 (-32.3%), from €174,054 to €117,803
- Depreciation +€30,595
up €30,595 (+10.7%), from €285,285 to €315,880
- Gross operating margin +€23,855
up €23,855 (+2.2%), from €1.1m to €1.1m
- Staff costs +€12,267
up €12,267 (+4.5%), from €271,602 to €283,869
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.
Cash bridge derived
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 | €4,216,566 | €4,725,519 | +€508,953 | +12.1% |
| Fixed assets | 21/28 | €817,694 | €829,440 | +€11,746 | +1.4% |
| Intangible fixed assets | 21 | €49,500 | €67,279 | +€17,778 | +35.9% |
| Tangible fixed assets | 22/27 | €766,344 | €752,812 | -€13,532 | -1.8% |
| Furniture and vehicles | 24 | €45,638 | €43,119 | -€2,519 | -5.5% |
| Other tangible fixed assets | 26 | €720,706 | €709,693 | -€11,013 | -1.5% |
| Financial fixed assets | 28 | €1,850 | €9,350 | +€7,500 | +405.4% |
| Current assets | 29/58 | €3,398,872 | €3,896,079 | +€497,207 | +14.6% |
| Stocks and contracts in progress | 3 | €1,319,469 | €1,532,195 | +€212,726 | +16.1% |
| Stocks | 30/36 | €1,319,469 | €1,532,195 | +€212,726 | +16.1% |
| Amounts receivable within one year | 40/41 | €1,566,181 | €2,017,264 | +€451,083 | +28.8% |
| Trade receivables | 40 | €314,875 | €294,740 | -€20,135 | -6.4% |
| Other amounts receivable | 41 | €1,251,306 | €1,722,524 | +€471,218 | +37.7% |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €99,333 | €330,391 | +€231,058 | +232.6% |
| Deferred charges and accrued income | 490/1 | €13,889 | €16,229 | +€2,340 | +16.8% |
| Total equity and liabilities | 10/49 | €4,216,566 | €4,725,519 | +€508,953 | +12.1% |
| Equity | 10/15 | €2,273,088 | €2,646,829 | +€373,741 | +16.4% |
| Contributions | 10/11 | €364,865 | €364,865 | = | 0.0% |
| Reserves | 13 | €295,237 | €295,237 | = | 0.0% |
| Distributable reserves | 133 | €295,237 | €295,237 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,612,987 | €1,986,728 | +€373,741 | +23.2% |
| Amounts payable | 17/49 | €1,943,478 | €2,078,690 | +€135,212 | +7.0% |
| Amounts payable after more than one year | 17 | €174,054 | €117,803 | -€56,251 | -32.3% |
| Financial debts | 170/4 | €174,054 | €117,803 | -€56,251 | -32.3% |
| Amounts payable within one year | 42/48 | €1,768,629 | €1,960,301 | +€191,671 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €58,495 | €60,839 | +€2,344 | +4.0% |
| Financial debts | 43 | €74,077 | €73,877 | -€200 | -0.3% |
| Credit institutions | 430/8 | €74,077 | €73,877 | -€200 | -0.3% |
| Trade debts | 44 | €443,923 | €507,666 | +€63,742 | +14.4% |
| Suppliers | 440/4 | €443,923 | €507,666 | +€63,742 | +14.4% |
| Taxes, remuneration and social security | 45 | €42,813 | €47,166 | +€4,353 | +10.2% |
| Taxes | 450/3 | - | €20 | +€20 | |
| Remuneration and social security | 454/9 | €42,813 | €47,146 | +€4,333 | +10.1% |
| Other amounts payable | 47/48 | €1,149,322 | €1,270,753 | +€121,432 | +10.6% |
| Accrued charges and deferred income | 492/3 | €794 | €586 | -€209 | -26.3% |
| Non-recurring operating income | 76A | €3,971 | - | -€3,971 | |
| Remuneration, social security and pensions | 62 | €271,602 | €283,869 | +€12,267 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €285,285 | €315,880 | +€30,595 | +10.7% |
| Other operating charges | 640/8 | €6,650 | €4,702 | -€1,948 | -29.3% |
| Non-recurring operating charges | 66A | €920 | - | -€920 | |
| Gross operating margin | 9900 | €1,093,422 | €1,117,276 | +€23,855 | +2.2% |
| Operating profit (loss) | 9901 | €528,965 | €512,826 | -€16,139 | -3.1% |
| Financial income | 75/76B | €7,711 | €9,712 | +€2,001 | +25.9% |
| Recurring financial income | 75 | €7,711 | €9,712 | +€2,001 | +25.9% |
| Financial charges | 65/66B | €16,619 | €15,582 | -€1,037 | -6.2% |
| Recurring financial charges | 65 | €16,619 | €15,582 | -€1,037 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €520,057 | €506,956 | -€13,101 | -2.5% |
| Income taxes | 67/77 | €136,227 | €133,215 | -€3,011 | -2.2% |
| Profit (loss) for the period | 9904 | €383,831 | €373,741 | -€10,090 | -2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €383,831 | €373,741 | -€10,090 | -2.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.