PAMABA: 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.
PAMABA
Largest movements
- Receivables after one year -€44,744
no longer reported in 2026 (was €44,744)
- Cash -€41,315
down €41,315 (-25.6%), from €161,212 to €119,897
mainly Net result for the year (-€77,055) and Debts after one year (-€30,338)
- Stocks and contracts +€16,455
up €16,455 (+47.2%), from €34,887 to €51,342
- Tangible fixed assets -€15,088
down €15,088 (-9.1%), from €166,704 to €151,617
of which Land and buildings: -€10,043
- Deferred charges and accrued income +€9,581
new in 2026: €9,581
- Profit (loss) carried forward -€77,055
down €77,055, from €10,372 to -€66,682
- Debts after one year -€30,338
down €30,338 (-54.1%), from €56,094 to €25,756
- Trade debts +€17,072
up €17,072 (+22.5%), from €75,766 to €92,838
- Other debts +€14,074
new in 2026: €14,074
- Tax, wage and social debts -€5,594
down €5,594 (-14.7%), from €38,020 to €32,426
of which Remuneration and social security: -€3,092
- Gross operating margin -€89,473
down €89,473 (-34.9%), from €256,687 to €167,213
- Staff costs -€25,974
down €25,974 (-11.9%), from €218,677 to €192,703
- Depreciation +€13,699
up €13,699 (+55.2%), from €24,812 to €38,511
- Financial charges +€4,839
up €4,839 (+124%), from €3,912 to €8,751
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €418,570 | €335,600 | -€82,970 | -19.8% |
| Fixed assets | 21/28 | €166,704 | €151,617 | -€15,088 | -9.1% |
| Tangible fixed assets | 22/27 | €166,704 | €151,617 | -€15,088 | -9.1% |
| Land and buildings | 22 | €63,907 | €53,864 | -€10,043 | -15.7% |
| Plant, machinery and equipment | 23 | €24,065 | €26,322 | +€2,257 | +9.4% |
| Furniture and vehicles | 24 | €78,733 | €71,431 | -€7,302 | -9.3% |
| Current assets | 29/58 | €251,866 | €183,984 | -€67,882 | -27.0% |
| Amounts receivable after more than one year | 29 | €44,744 | - | -€44,744 | |
| Other amounts receivable | 291 | €44,744 | - | -€44,744 | |
| Stocks and contracts in progress | 3 | €34,887 | €51,342 | +€16,455 | +47.2% |
| Stocks | 30/36 | €34,887 | €51,342 | +€16,455 | +47.2% |
| Amounts receivable within one year | 40/41 | €11,023 | €3,164 | -€7,860 | -71.3% |
| Trade receivables | 40 | €4,556 | - | -€4,556 | |
| Other amounts receivable | 41 | €6,468 | €3,164 | -€3,304 | -51.1% |
| Cash at bank and in hand | 54/58 | €161,212 | €119,897 | -€41,315 | -25.6% |
| Deferred charges and accrued income | 490/1 | - | €9,581 | +€9,581 | |
| Total equity and liabilities | 10/49 | €418,570 | €335,600 | -€82,970 | -19.8% |
| Equity | 10/15 | €217,223 | €140,168 | -€77,055 | -35.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €188,250 | €188,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €186,390 | €186,390 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,372 | -€66,682 | -€77,055 | |
| Amounts payable | 17/49 | €201,348 | €195,432 | -€5,915 | -2.9% |
| Amounts payable after more than one year | 17 | €56,094 | €25,756 | -€30,338 | -54.1% |
| Financial debts | 170/4 | €56,094 | €25,756 | -€30,338 | -54.1% |
| Amounts payable within one year | 42/48 | €145,253 | €169,676 | +€24,423 | +16.8% |
| Current portion of amounts payable after more than one year | 42 | €31,467 | €30,338 | -€1,128 | -3.6% |
| Trade debts | 44 | €75,766 | €92,838 | +€17,072 | +22.5% |
| Suppliers | 440/4 | €75,766 | €92,838 | +€17,072 | +22.5% |
| Taxes, remuneration and social security | 45 | €38,020 | €32,426 | -€5,594 | -14.7% |
| Taxes | 450/3 | €18,120 | €15,618 | -€2,502 | -13.8% |
| Remuneration and social security | 454/9 | €19,901 | €16,809 | -€3,092 | -15.5% |
| Other amounts payable | 47/48 | - | €14,074 | +€14,074 | |
| Remuneration, social security and pensions | 62 | €218,677 | €192,703 | -€25,974 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,812 | €38,511 | +€13,699 | +55.2% |
| Other operating charges | 640/8 | €3,387 | €4,669 | +€1,282 | +37.9% |
| Gross operating margin | 9900 | €256,687 | €167,213 | -€89,473 | -34.9% |
| Operating profit (loss) | 9901 | €9,811 | -€68,670 | -€78,481 | |
| Financial income | 75/76B | €1,059 | €643 | -€416 | -39.3% |
| Recurring financial income | 75 | €1,059 | €643 | -€416 | -39.3% |
| Financial charges | 65/66B | €3,912 | €8,751 | +€4,839 | +124% |
| Recurring financial charges | 65 | €3,912 | €8,751 | +€4,839 | +124% |
| Profit (loss) for the period before taxes | 9903 | €6,958 | -€76,778 | -€83,736 | |
| Income taxes | 67/77 | €2,052 | €277 | -€1,775 | -86.5% |
| Profit (loss) for the period | 9904 | €4,906 | -€77,055 | -€81,961 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,906 | -€77,055 | -€81,961 |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.