PAMA: 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
PAMA
NACE 77.229, Renting and leasing of other personal and household goods
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€725,104
2024 · €644,846+€80,258
Equity
€28.6m
2024 · €27.8m+€754,605
Cash
€1.1m
2024 · €469,516+€661,445
Balance sheet total
€29.9m
2024 · €29.4m+€503,414
Largest movements
Assets
- Deferred charges and accrued income -€3.7m
down €3.7m (-90.1%), from €4.1m to €409,252
- Receivables after one year +€2.7m
up €2.7m (+46.5%), from €5.8m to €8.5m
- Cash +€661,445
up €661,445 (+141%), from €469,516 to €1.1m
mainly Deferred charges and accrued income (+€3.7m) and Net result for the year (+€725,104)
- Tangible fixed assets +€601,547
up €601,547 (+11.6%), from €5.2m to €5.8m
of which Land and buildings: +€1.0m
Equity and liabilities
- Profit (loss) carried forward +€368,946
new in 2025: €368,946
- Reserves +€356,158
up €356,158 (+1.8%), from €20.0m to €20.3m
of which Tax-exempt reserves: +€356,158
Income statement
- Depreciation -€69,774
down €69,774 (-10.9%), from €640,375 to €570,601
- Financial charges -€41,811
down €41,811 (-66.4%), from €62,924 to €21,113
- Taxes +€23,218
up €23,218 (+10.3%), from €224,441 to €247,659
- Staff costs +€15,966
up €15,966 (+73.8%), from €21,634 to €37,600
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
€644,846
Gross operating margin
-€5,321
Staff costs
-€15,966
Depreciation
+€69,774
Other operating charges
-€18
Financial income
+€13,195
Financial charges
+€41,811
Taxes
-€23,218
Deferred taxes and other
+€1
Result 2025
€725,104
raises the resultlowers the resultnot broken down further in the accounts
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
+€2.3m
Investment
-€1.4m
Financing
-€194,044
Cash 2024
€469,516
From operations (derived)
+€2.3m
Net result for the year
+€725,104
Depreciation
+€570,601
Receivables after one year
-€2.7m
Smaller working-capital items
+€8,884
Deferred charges and accrued income
+€3.7m
Trade debts
+€40,072
Other debts
-€72,102
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.2m
Current investments
-€249,876
Financing
-€194,044
Debts after one year
-€227,606
Current portion of long-term debt
+€4,061
Contributions, distributions and other
+€29,501
Cash 2025
€1.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,391,896 | €29,895,310 | +€503,414 | +1.7% |
| Fixed assets | 21/28 | €12,364,242 | €12,965,789 | +€601,547 | +4.9% |
| Tangible fixed assets | 22/27 | €5,200,120 | €5,801,667 | +€601,547 | +11.6% |
| Land and buildings | 22 | €2,504,846 | €3,504,939 | +€1.0m | +39.9% |
| Plant, machinery and equipment | 23 | €2,433,632 | €2,059,979 | -€373,653 | -15.4% |
| Furniture and vehicles | 24 | €255,367 | €230,937 | -€24,430 | -9.6% |
| Other tangible fixed assets | 26 | €6,275 | €5,812 | -€463 | -7.4% |
| Financial fixed assets | 28 | €7,164,122 | €7,164,122 | = | 0.0% |
| Current assets | 29/58 | €17,027,654 | €16,929,521 | -€98,133 | -0.6% |
| Amounts receivable after more than one year | 29 | €5,831,000 | €8,541,000 | +€2.7m | +46.5% |
| Other amounts receivable | 291 | €5,831,000 | €8,541,000 | +€2.7m | +46.5% |
| Amounts receivable within one year | 40/41 | €156,341 | €151,841 | -€4,500 | -2.9% |
| Trade receivables | 40 | €149,814 | €149,800 | -€14 | 0.0% |
| Other amounts receivable | 41 | €6,527 | €2,041 | -€4,486 | -68.7% |
| Current investments | 50/53 | €6,446,591 | €6,696,467 | +€249,876 | +3.9% |
| Cash at bank and in hand | 54/58 | €469,516 | €1,130,961 | +€661,445 | +141% |
| Deferred charges and accrued income | 490/1 | €4,124,206 | €409,252 | -€3.7m | -90.1% |
| Total equity and liabilities | 10/49 | €29,391,896 | €29,895,310 | +€503,414 | +1.7% |
| Equity | 10/15 | €27,828,603 | €28,583,208 | +€754,605 | +2.7% |
| Contributions | 10/11 | €7,764,077 | €7,764,077 | = | 0.0% |
| Capital | 10 | €7,764,077 | €7,764,077 | = | 0.0% |
| Issued capital | 100 | €7,764,077 | €7,764,077 | = | 0.0% |
| Revaluation surpluses | 12 | €92,054 | €121,555 | +€29,501 | +32.0% |
| Reserves | 13 | €19,972,472 | €20,328,630 | +€356,158 | +1.8% |
| Non-distributable reserves | 130/1 | €776,408 | €776,408 | = | 0.0% |
| Legal reserve | 130 | €776,408 | €776,408 | = | 0.0% |
| Tax-exempt reserves | 132 | €320,163 | €676,321 | +€356,158 | +111% |
| Distributable reserves | 133 | €18,875,901 | €18,875,901 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €368,946 | +€368,946 | |
| Provisions and deferred taxes | 16 | €8,488 | €7,924 | -€564 | -6.6% |
| Deferred taxes | 168 | €8,488 | €7,924 | -€564 | -6.6% |
| Amounts payable | 17/49 | €1,554,805 | €1,304,178 | -€250,627 | -16.1% |
| Amounts payable after more than one year | 17 | €1,165,086 | €937,480 | -€227,606 | -19.5% |
| Financial debts | 170/4 | €1,165,086 | €937,480 | -€227,606 | -19.5% |
| Amounts payable within one year | 42/48 | €387,697 | €363,452 | -€24,245 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €223,544 | €227,605 | +€4,061 | +1.8% |
| Trade debts | 44 | €7,073 | €47,145 | +€40,072 | +567% |
| Suppliers | 440/4 | €7,073 | €47,145 | +€40,072 | +567% |
| Taxes, remuneration and social security | 45 | €83,680 | €87,404 | +€3,724 | +4.5% |
| Taxes | 450/3 | €78,684 | €80,461 | +€1,777 | +2.3% |
| Remuneration and social security | 454/9 | €4,996 | €6,943 | +€1,947 | +39.0% |
| Other amounts payable | 47/48 | €73,400 | €1,298 | -€72,102 | -98.2% |
| Accrued charges and deferred income | 492/3 | €2,022 | €3,246 | +€1,224 | +60.5% |
| Remuneration, social security and pensions | 62 | €21,634 | €37,600 | +€15,966 | +73.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €640,375 | €570,601 | -€69,774 | -10.9% |
| Other operating charges | 640/8 | €19,373 | €19,391 | +€18 | +0.1% |
| Gross operating margin | 9900 | €1,394,136 | €1,388,815 | -€5,321 | -0.4% |
| Operating profit (loss) | 9901 | €712,754 | €761,223 | +€48,469 | +6.8% |
| Financial income | 75/76B | €218,894 | €232,089 | +€13,195 | +6.0% |
| Recurring financial income | 75 | €218,894 | €232,089 | +€13,195 | +6.0% |
| Financial charges | 65/66B | €62,924 | €21,113 | -€41,811 | -66.4% |
| Recurring financial charges | 65 | €62,924 | €21,113 | -€41,811 | -66.4% |
| Profit (loss) for the period before taxes | 9903 | €868,724 | €972,199 | +€103,475 | +11.9% |
| Transfer from deferred taxes | 780 | €563 | €564 | +€1 | +0.2% |
| Income taxes | 67/77 | €224,441 | €247,659 | +€23,218 | +10.3% |
| Profit (loss) for the period | 9904 | €644,846 | €725,104 | +€80,258 | +12.4% |
| Transfer from tax-exempt reserves | 789 | €1,691 | €1,692 | +€1 | +0.1% |
| Transfer to tax-exempt reserves | 689 | €294,700 | €357,850 | +€63,150 | +21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €351,837 | €368,946 | +€17,109 | +4.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.