PAJUXA: 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.
PAJUXA
Largest movements
- Tangible fixed assets -€12,412
down €12,412 (-5.6%), from €221,410 to €208,998
of which Land and buildings: -€11,783
- Cash +€5,826
up €5,826 (+8,624%), from €68 to €5,894
mainly Depreciation (+€12,412) and Net result for the year (+€7,017)
- Receivables within one year -€5,660
down €5,660 (-54.3%), from €10,423 to €4,763
of which Other amounts receivable: -€4,225
- Current portion of long-term debt -€12,473
down €12,473 (-64.4%), from €19,363 to €6,890
- Reserves +€7,017
up €7,017 (+4.8%), from €145,468 to €152,485
- Debts after one year -€6,135
down €6,135 (-100%), from €6,135 to €0
- Short-term financial debts -€3,086
down €3,086 (-100%), from €3,086 to €0
- Gross operating margin +€3,619
up €3,619 (+15.1%), from €24,029 to €27,649
- Taxes +€1,725
up €1,725 (+88.6%), from €1,947 to €3,672
- Financial charges -€968
down €968 (-34.5%), from €2,810 to €1,842
- Depreciation -€418
down €418 (-3.3%), from €12,830 to €12,412
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 | €233,812 | €221,694 | -€12,118 | -5.2% |
| Fixed assets | 21/28 | €221,410 | €208,998 | -€12,412 | -5.6% |
| Tangible fixed assets | 22/27 | €221,410 | €208,998 | -€12,412 | -5.6% |
| Land and buildings | 22 | €220,102 | €208,320 | -€11,783 | -5.4% |
| Furniture and vehicles | 24 | €1,307 | €678 | -€629 | -48.1% |
| Current assets | 29/58 | €12,403 | €12,696 | +€294 | +2.4% |
| Amounts receivable within one year | 40/41 | €10,423 | €4,763 | -€5,660 | -54.3% |
| Trade receivables | 40 | €4,870 | €3,435 | -€1,435 | -29.5% |
| Other amounts receivable | 41 | €5,553 | €1,328 | -€4,225 | -76.1% |
| Cash at bank and in hand | 54/58 | €68 | €5,894 | +€5,826 | +8,624% |
| Deferred charges and accrued income | 490/1 | €1,912 | €2,039 | +€127 | +6.7% |
| Total equity and liabilities | 10/49 | €233,812 | €221,694 | -€12,118 | -5.2% |
| Equity | 10/15 | €164,068 | €171,085 | +€7,017 | +4.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €145,468 | €152,485 | +€7,017 | +4.8% |
| Distributable reserves | 133 | €145,468 | €152,485 | +€7,017 | +4.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €69,744 | €50,609 | -€19,135 | -27.4% |
| Amounts payable after more than one year | 17 | €6,135 | €0 | -€6,135 | -100% |
| Financial debts | 170/4 | €6,135 | €0 | -€6,135 | -100% |
| Amounts payable within one year | 42/48 | €63,609 | €50,609 | -€13,000 | -20.4% |
| Current portion of amounts payable after more than one year | 42 | €19,363 | €6,890 | -€12,473 | -64.4% |
| Financial debts | 43 | €3,086 | €0 | -€3,086 | -100% |
| Credit institutions | 430/8 | €3,086 | €0 | -€3,086 | -100% |
| Trade debts | 44 | €4,648 | €6,877 | +€2,230 | +48.0% |
| Suppliers | 440/4 | €4,648 | €6,877 | +€2,230 | +48.0% |
| Taxes, remuneration and social security | 45 | €1,774 | €2,842 | +€1,068 | +60.2% |
| Taxes | 450/3 | €1,774 | €2,842 | +€1,068 | +60.2% |
| Other amounts payable | 47/48 | €34,739 | €34,000 | -€739 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,830 | €12,412 | -€418 | -3.3% |
| Other operating charges | 640/8 | €3,017 | €2,906 | -€111 | -3.7% |
| Gross operating margin | 9900 | €24,029 | €27,649 | +€3,619 | +15.1% |
| Operating profit (loss) | 9901 | €8,183 | €12,331 | +€4,148 | +50.7% |
| Financial income | 75/76B | €2 | €199 | +€198 | +10,567% |
| Recurring financial income | 75 | €2 | €199 | +€198 | +10,567% |
| Financial charges | 65/66B | €2,810 | €1,842 | -€968 | -34.5% |
| Recurring financial charges | 65 | €2,810 | €1,842 | -€968 | -34.5% |
| Profit (loss) for the period before taxes | 9903 | €5,374 | €10,689 | +€5,314 | +98.9% |
| Income taxes | 67/77 | €1,947 | €3,672 | +€1,725 | +88.6% |
| Profit (loss) for the period | 9904 | €3,428 | €7,017 | +€3,589 | +105% |
| Profit (loss) for the period to be appropriated | 9905 | €3,428 | €7,017 | +€3,589 | +105% |
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 26 October 2026 via checked.be.