PAKAJONA: 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.
What changed
PAKAJONA
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€58,688
2024 · €515,031-€456,344
Equity
€1.1m
2024 · €1.1m+€58,688
Cash
€89,742
2024 · €56,094+€33,648
Balance sheet total
€4.8m
2024 · €5.1m-€289,354
Largest movements
Assets
- Tangible fixed assets -€553,681
down €553,681 (-20.4%), from €2.7m to €2.2m
of which Land and buildings: -€533,343
- Receivables after one year +€190,481
up €190,481 (+8.3%), from €2.3m to €2.5m
Equity and liabilities
- Short-term financial debts -€822,113
down €822,113 (-56.8%), from €1.4m to €625,000
- Debts after one year +€441,106
up €441,106 (+32.3%), from €1.4m to €1.8m
of which Financial debts: +€441,106
- Profit (loss) carried forward +€58,688
up €58,688 (+3.4%), from -€1.7m to -€1.7m
Income statement
- Financial income -€616,845
down €616,845 (-77.2%), from €799,197 to €182,352
- Gross operating margin +€113,704
up €113,704 (+56.6%), from €200,866 to €314,570
- Depreciation -€19,696
down €19,696 (-6.7%), from €295,293 to €275,597
- Financial charges -€18,746
down €18,746 (-11.8%), from €159,021 to €140,275
- Other operating charges -€7,387
down €7,387 (-68.2%), from €10,833 to €3,446
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.
Result 2024
€515,031
Gross operating margin
+€113,704
Staff costs
+€2,070
Depreciation
+€19,696
Other operating charges
+€7,387
Financial income
-€616,845
Financial charges
+€18,746
Taxes
-€1,101
Result 2025
€58,688
raises the resultlowers the result
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.
From operations
+€107,693
Investment
+€278,084
Financing
-€352,129
Cash 2024
€56,094
From operations (derived)
+€107,693
Net result for the year
+€58,688
Depreciation
+€275,597
Receivables after one year
-€190,481
Receivables within one year
-€40,275
Smaller working-capital items
+€121
Trade debts
-€39,811
Accrued charges and deferred income
+€43,855
Investment (derived)
+€278,084
Investment in fixed assets (net)
+€278,084
Financing
-€352,129
Debts after one year
+€441,106
Current portion of long-term debt
+€28,878
Short-term financial debts
-€822,113
Cash 2025
€89,742
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,100,813 | €4,811,458 | -€289,354 | -5.7% |
| Fixed assets | 21/28 | €2,712,465 | €2,158,784 | -€553,681 | -20.4% |
| Tangible fixed assets | 22/27 | €2,711,881 | €2,158,201 | -€553,681 | -20.4% |
| Land and buildings | 22 | €2,417,244 | €1,883,901 | -€533,343 | -22.1% |
| Plant, machinery and equipment | 23 | €1,374 | €791 | -€583 | -42.4% |
| Furniture and vehicles | 24 | €293,263 | €273,509 | -€19,754 | -6.7% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €584 | €584 | = | 0.0% |
| Current assets | 29/58 | €2,388,347 | €2,652,674 | +€264,327 | +11.1% |
| Amounts receivable after more than one year | 29 | €2,300,575 | €2,491,056 | +€190,481 | +8.3% |
| Other amounts receivable | 291 | €2,300,575 | €2,491,056 | +€190,481 | +8.3% |
| Amounts receivable within one year | 40/41 | €30,503 | €70,778 | +€40,275 | +132% |
| Trade receivables | 40 | €5,000 | €5,000 | = | 0.0% |
| Other amounts receivable | 41 | €25,503 | €65,778 | +€40,275 | +158% |
| Cash at bank and in hand | 54/58 | €56,094 | €89,742 | +€33,648 | +60.0% |
| Deferred charges and accrued income | 490/1 | €1,176 | €1,098 | -€78 | -6.6% |
| Total equity and liabilities | 10/49 | €5,100,813 | €4,811,458 | -€289,354 | -5.7% |
| Equity | 10/15 | €1,075,269 | €1,133,957 | +€58,688 | +5.5% |
| Contributions | 10/11 | €2,770,000 | €2,770,000 | = | 0.0% |
| Reserves | 13 | €19,993 | €19,993 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,993 | €19,993 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,993 | €19,993 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,714,724 | -€1,656,037 | +€58,688 | +3.4% |
| Amounts payable | 17/49 | €4,025,544 | €3,677,502 | -€348,042 | -8.6% |
| Amounts payable after more than one year | 17 | €1,365,694 | €1,806,801 | +€441,106 | +32.3% |
| Financial debts | 170/4 | €1,339,848 | €1,780,954 | +€441,106 | +32.9% |
| Other amounts payable | 178/9 | €25,846 | €25,846 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,698,390 | €865,387 | -€833,003 | -49.0% |
| Current portion of amounts payable after more than one year | 42 | €112,704 | €141,582 | +€28,878 | +25.6% |
| Financial debts | 43 | €1,447,113 | €625,000 | -€822,113 | -56.8% |
| Credit institutions | 430/8 | €1,447,113 | €625,000 | -€822,113 | -56.8% |
| Trade debts | 44 | €71,532 | €31,721 | -€39,811 | -55.7% |
| Suppliers | 440/4 | €71,532 | €31,721 | -€39,811 | -55.7% |
| Taxes, remuneration and social security | 45 | €1,417 | €1,460 | +€43 | +3.0% |
| Taxes | 450/3 | €358 | €1,460 | +€1,101 | +307% |
| Remuneration and social security | 454/9 | €1,058 | €0 | -€1,058 | -100% |
| Other amounts payable | 47/48 | €65,625 | €65,625 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €961,459 | €1,005,314 | +€43,855 | +4.6% |
| Non-recurring operating income | 76A | €28,703 | €71,499 | +€42,797 | +149% |
| Remuneration, social security and pensions | 62 | €19,527 | €17,457 | -€2,070 | -10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €295,293 | €275,597 | -€19,696 | -6.7% |
| Other operating charges | 640/8 | €10,833 | €3,446 | -€7,387 | -68.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €200,866 | €314,570 | +€113,704 | +56.6% |
| Operating profit (loss) | 9901 | -€124,787 | €18,070 | +€142,857 | |
| Financial income | 75/76B | €799,197 | €182,352 | -€616,845 | -77.2% |
| Recurring financial income | 75 | €799,197 | €182,352 | -€616,845 | -77.2% |
| Financial charges | 65/66B | €159,021 | €140,275 | -€18,746 | -11.8% |
| Recurring financial charges | 65 | €159,021 | €140,275 | -€18,746 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €515,390 | €60,147 | -€455,242 | -88.3% |
| Income taxes | 67/77 | €358 | €1,460 | +€1,101 | +307% |
| Profit (loss) for the period | 9904 | €515,031 | €58,688 | -€456,344 | -88.6% |
| Profit (loss) for the period to be appropriated | 9905 | €515,031 | €58,688 | -€456,344 | -88.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.