PAM Troc: 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 Troc
Largest movements
- Tangible fixed assets +€70,330
new in 2025: €70,330
of which Furniture and vehicles: +€52,367
- Cash +€68,387
up €68,387 (+11,195%), from €611 to €68,998
mainly Debts after one year (+€153,494) and Contributions, distributions and other (+€50,000)
- Receivables within one year +€50,853
up €50,853 (+48,921%), from €104 to €50,957
of which Trade receivables: +€44,474
- Stocks and contracts +€10,194
new in 2025: €10,194
- Debts after one year +€153,494
new in 2025: €153,494
- Profit (loss) carried forward -€95,400
down €95,400 (-476%), from -€20,040 to -€115,440
- Contributions +€50,000
up €50,000 (+2,000%), from €2,500 to €52,500
- Trade debts +€47,741
up €47,741, from €0 to €47,741
- Current portion of long-term debt +€22,797
new in 2025: €22,797
- Gross operating margin -€73,435
down €73,435, from €0 to -€73,435
- Staff costs +€7,853
new in 2025: €7,853
- Financial charges +€6,846
up €6,846 (+4,191%), from €163 to €7,009
- Other operating charges +€6,247
new in 2025: €6,247
- Depreciation +€855
new in 2025: €855
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 | €715 | €200,987 | +€200,272 | +28,018% |
| Fixed assets | 21/28 | - | €70,838 | +€70,838 | |
| Intangible fixed assets | 21 | - | €318 | +€318 | |
| Tangible fixed assets | 22/27 | - | €70,330 | +€70,330 | |
| Plant, machinery and equipment | 23 | - | €2,064 | +€2,064 | |
| Furniture and vehicles | 24 | - | €52,367 | +€52,367 | |
| Other tangible fixed assets | 26 | - | €15,899 | +€15,899 | |
| Financial fixed assets | 28 | - | €190 | +€190 | |
| Current assets | 29/58 | €715 | €130,150 | +€129,435 | +18,108% |
| Stocks and contracts in progress | 3 | - | €10,194 | +€10,194 | |
| Stocks | 30/36 | - | €10,194 | +€10,194 | |
| Amounts receivable within one year | 40/41 | €104 | €50,957 | +€50,853 | +48,921% |
| Trade receivables | 40 | - | €44,474 | +€44,474 | |
| Other amounts receivable | 41 | €104 | €6,483 | +€6,379 | +6,137% |
| Cash at bank and in hand | 54/58 | €611 | €68,998 | +€68,387 | +11,195% |
| Total equity and liabilities | 10/49 | €715 | €200,987 | +€200,272 | +28,018% |
| Equity | 10/15 | -€17,540 | -€62,940 | -€45,400 | -259% |
| Contributions | 10/11 | €2,500 | €52,500 | +€50,000 | +2,000% |
| Profit (loss) carried forward | 14 | -€20,040 | -€115,440 | -€95,400 | -476% |
| Amounts payable | 17/49 | €18,255 | €263,927 | +€245,672 | +1,346% |
| Amounts payable after more than one year | 17 | - | €153,494 | +€153,494 | |
| Financial debts | 170/4 | - | €153,494 | +€153,494 | |
| Amounts payable within one year | 42/48 | €18,255 | €110,433 | +€92,178 | +505% |
| Current portion of amounts payable after more than one year | 42 | - | €22,797 | +€22,797 | |
| Trade debts | 44 | €0 | €47,741 | +€47,741 | |
| Suppliers | 440/4 | €0 | €47,741 | +€47,741 | |
| Taxes, remuneration and social security | 45 | - | €3,639 | +€3,639 | |
| Taxes | 450/3 | - | €1,778 | +€1,778 | |
| Remuneration and social security | 454/9 | - | €1,861 | +€1,861 | |
| Other amounts payable | 47/48 | €18,255 | €36,255 | +€18,000 | +98.6% |
| Remuneration, social security and pensions | 62 | - | €7,853 | +€7,853 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €855 | +€855 | |
| Other operating charges | 640/8 | - | €6,247 | +€6,247 | |
| Gross operating margin | 9900 | €0 | -€73,435 | -€73,435 | |
| Operating profit (loss) | 9901 | €0 | -€88,391 | -€88,391 | |
| Financial charges | 65/66B | €163 | €7,009 | +€6,846 | +4,191% |
| Recurring financial charges | 65 | €163 | €7,009 | +€6,846 | +4,191% |
| Profit (loss) for the period before taxes | 9903 | -€163 | -€95,400 | -€95,236 | -58,302% |
| Profit (loss) for the period | 9904 | -€163 | -€95,400 | -€95,236 | -58,302% |
| Profit (loss) for the period to be appropriated | 9905 | -€163 | -€95,400 | -€95,236 | -58,302% |
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 20 October 2026 via checked.be.