PAMAHO: 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.
PAMAHO
Largest movements
- Receivables within one year +€130,418
up €130,418 (+256%), from €51,000 to €181,418
of which Other amounts receivable: +€128,300
- Cash +€60,740
up €60,740 (+411%), from €14,764 to €75,504
mainly Net result for the year (+€153,128) and Investment in fixed assets (net) (+€59,773)
- Financial fixed assets -€59,773
down €59,773 (-7.8%), from €763,000 to €703,227
- Profit (loss) carried forward +€153,128
up €153,128 (+41.7%), from €366,868 to €519,996
- Debts after one year -€60,093
down €60,093 (-20.5%), from €292,869 to €232,777
- Other debts +€41,035
up €41,035 (+107%), from €38,500 to €79,535
- Gross operating margin +€64,750
up €64,750 (+423%), from €15,317 to €80,068
- Financial income +€3,969
up €3,969 (+5.0%), from €80,000 to €83,969
- Other operating charges +€1,662
up €1,662 (+1,953%), from €85 to €1,747
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 | €828,764 | €960,375 | +€131,612 | +15.9% |
| Fixed assets | 21/28 | €763,000 | €703,227 | -€59,773 | -7.8% |
| Financial fixed assets | 28 | €763,000 | €703,227 | -€59,773 | -7.8% |
| Current assets | 29/58 | €65,764 | €257,148 | +€191,385 | +291% |
| Amounts receivable within one year | 40/41 | €51,000 | €181,418 | +€130,418 | +256% |
| Trade receivables | 40 | - | €2,118 | +€2,118 | |
| Other amounts receivable | 41 | €51,000 | €179,300 | +€128,300 | +252% |
| Cash at bank and in hand | 54/58 | €14,764 | €75,504 | +€60,740 | +411% |
| Deferred charges and accrued income | 490/1 | - | €227 | +€227 | |
| Total equity and liabilities | 10/49 | €828,764 | €960,375 | +€131,612 | +15.9% |
| Equity | 10/15 | €428,368 | €581,496 | +€153,128 | +35.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €366,868 | €519,996 | +€153,128 | +41.7% |
| Amounts payable | 17/49 | €400,395 | €378,879 | -€21,516 | -5.4% |
| Amounts payable after more than one year | 17 | €292,869 | €232,777 | -€60,093 | -20.5% |
| Financial debts | 170/4 | €292,869 | €232,777 | -€60,093 | -20.5% |
| Amounts payable within one year | 42/48 | €104,873 | €144,012 | +€39,139 | +37.3% |
| Current portion of amounts payable after more than one year | 42 | €60,556 | €60,556 | = | 0.0% |
| Financial debts | 43 | €700 | €553 | -€147 | -21.1% |
| Credit institutions | 430/8 | €700 | €553 | -€147 | -21.1% |
| Trade debts | 44 | €2,450 | €386 | -€2,065 | -84.3% |
| Suppliers | 440/4 | €2,450 | €386 | -€2,065 | -84.3% |
| Taxes, remuneration and social security | 45 | €2,666 | €2,982 | +€316 | +11.8% |
| Taxes | 450/3 | €2,666 | €2,982 | +€316 | +11.8% |
| Other amounts payable | 47/48 | €38,500 | €79,535 | +€41,035 | +107% |
| Accrued charges and deferred income | 492/3 | €2,654 | €2,091 | -€563 | -21.2% |
| Non-recurring operating income | 76A | - | €69,197 | +€69,197 | |
| Other operating charges | 640/8 | €85 | €1,747 | +€1,662 | +1,953% |
| Gross operating margin | 9900 | €15,317 | €80,068 | +€64,750 | +423% |
| Operating profit (loss) | 9901 | €15,232 | €78,321 | +€63,089 | +414% |
| Financial income | 75/76B | €80,000 | €83,969 | +€3,969 | +5.0% |
| Recurring financial income | 75 | €80,000 | €83,969 | +€3,969 | +5.0% |
| Financial charges | 65/66B | €7,084 | €6,865 | -€219 | -3.1% |
| Recurring financial charges | 65 | €7,084 | €6,865 | -€219 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €88,149 | €155,425 | +€67,277 | +76.3% |
| Income taxes | 67/77 | €2,037 | €2,298 | +€260 | +12.8% |
| Profit (loss) for the period | 9904 | €86,112 | €153,128 | +€67,016 | +77.8% |
| Profit (loss) for the period to be appropriated | 9905 | €86,112 | €153,128 | +€67,016 | +77.8% |
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 22 October 2026 via checked.be.