PAM Concept: 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.
PAM Concept
Largest movements
- Receivables within one year +€9,394
up €9,394 (+1,030%), from €912 to €10,305
of which Trade receivables: +€10,063
- Cash +€4,432
up €4,432 (+795%), from €558 to €4,989
mainly Net result for the year (+€11,751) and Depreciation (+€3,761)
- Tangible fixed assets -€3,761
down €3,761 (-39.0%), from €9,638 to €5,876
of which Furniture and vehicles: -€3,183
- Intangible fixed assets -€474
down €474 (-100%), from €474 to €0
- Deferred charges and accrued income -€352
down €352 (-52.6%), from €669 to €317
- Profit (loss) carried forward +€11,751
up €11,751 (+64.6%), from -€18,191 to -€6,440
- Tax, wage and social debts -€1,273
down €1,273 (-38.1%), from €3,336 to €2,064
- Other debts -€1,270
down €1,270 (-48.2%), from €2,633 to €1,363
- Gross operating margin +€20,870
up €20,870, from -€4,741 to €16,130
- Other operating charges -€3,652
down €3,652 (-92.3%), from €3,957 to €305
- Financial charges -€1,253
down €1,253 (-80.0%), from €1,566 to €313
- Depreciation -€781
down €781 (-17.2%), from €4,542 to €3,761
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 | €12,280 | €21,488 | +€9,208 | +75.0% |
| Fixed assets | 21/28 | €10,111 | €5,876 | -€4,235 | -41.9% |
| Intangible fixed assets | 21 | €474 | €0 | -€474 | -100% |
| Tangible fixed assets | 22/27 | €9,638 | €5,876 | -€3,761 | -39.0% |
| Plant, machinery and equipment | 23 | €48 | €0 | -€48 | -100% |
| Furniture and vehicles | 24 | €5,200 | €2,017 | -€3,183 | -61.2% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €4,390 | €3,860 | -€530 | -12.1% |
| Current assets | 29/58 | €2,169 | €15,612 | +€13,443 | +620% |
| Amounts receivable after more than one year | 29 | €30 | €0 | -€30 | -100% |
| Trade receivables | 290 | €30 | - | -€30 | |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €912 | €10,305 | +€9,394 | +1,030% |
| Trade receivables | 40 | €242 | €10,305 | +€10,063 | +4,153% |
| Other amounts receivable | 41 | €669 | €0 | -€669 | -100% |
| Cash at bank and in hand | 54/58 | €558 | €4,989 | +€4,432 | +795% |
| Deferred charges and accrued income | 490/1 | €669 | €317 | -€352 | -52.6% |
| Total equity and liabilities | 10/49 | €12,280 | €21,488 | +€9,208 | +75.0% |
| Equity | 10/15 | €6,312 | €18,062 | +€11,751 | +186% |
| Contributions | 10/11 | €16,103 | €16,103 | = | 0.0% |
| Reserves | 13 | €8,400 | €8,400 | = | 0.0% |
| Distributable reserves | 133 | €8,400 | €8,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,191 | -€6,440 | +€11,751 | +64.6% |
| Amounts payable | 17/49 | €5,969 | €3,426 | -€2,543 | -42.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €5,969 | €3,426 | -€2,543 | -42.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €3,336 | €2,064 | -€1,273 | -38.1% |
| Taxes | 450/3 | €3,336 | €2,064 | -€1,273 | -38.1% |
| Other amounts payable | 47/48 | €2,633 | €1,363 | -€1,270 | -48.2% |
| Non-recurring operating income | 76A | - | €826 | +€826 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,542 | €3,761 | -€781 | -17.2% |
| Other operating charges | 640/8 | €3,957 | €305 | -€3,652 | -92.3% |
| Non-recurring operating charges | 66A | €3,301 | - | -€3,301 | |
| Gross operating margin | 9900 | -€4,741 | €16,130 | +€20,870 | |
| Operating profit (loss) | 9901 | -€16,540 | €12,064 | +€28,603 | |
| Financial income | 75/76B | €61 | €19 | -€41 | -67.9% |
| Recurring financial income | 75 | €61 | €19 | -€41 | -67.9% |
| Financial charges | 65/66B | €1,566 | €313 | -€1,253 | -80.0% |
| Recurring financial charges | 65 | €1,566 | €313 | -€1,253 | -80.0% |
| Profit (loss) for the period before taxes | 9903 | -€18,045 | €11,770 | +€29,815 | |
| Income taxes | 67/77 | €145 | €19 | -€126 | -86.6% |
| Profit (loss) for the period | 9904 | -€18,191 | €11,751 | +€29,941 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,191 | €11,751 | +€29,941 |
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 19 October 2026 via checked.be.