PAMAL: 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.
PAMAL
Largest movements
- Tangible fixed assets -€15,875
down €15,875 (-6.2%), from €258,021 to €242,146
of which Land and buildings: -€22,070
- Receivables within one year -€14,268
down €14,268 (-36.0%), from €39,689 to €25,421
of which Trade receivables: -€15,474
- Cash +€9,623
up €9,623 (+341.9%), from €2,814 to €12,437
mainly Provisions (+€18,229) and Current portion of long-term debt (+€15,318)
- Stocks and contracts +€3,845
up €3,845 (+73.0%), from €5,266 to €9,111
- Other debts -€37,924
down €37,924 (-45.1%), from €84,002 to €46,078
- Provisions +€18,229
new in 2025: €18,229
- Trade debts -€15,517
down €15,517 (-92.1%), from €16,845 to €1,328
- Current portion of long-term debt +€15,318
up €15,318 (+121.5%), from €12,606 to €27,923
- Reserves +€6,608
new in 2025: €6,608
- Turnover +€210,481
new in 2025: €210,481
- Purchases and services +€155,716
new in 2025: €155,716
- Gross operating margin +€38,801
up €38,801 (+128.2%), from €30,276 to €69,077
- Provisions +€18,229
new in 2025: €18,229
- Taxes +€13,000
up €13,000 (+465.3%), from €2,794 to €15,794
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.
Cash bridge derived
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 | €312,519 | €293,876 | -€18,643 | -6.0% |
| Fixed assets | 21/28 | €258,021 | €242,146 | -€15,875 | -6.2% |
| Tangible fixed assets | 22/27 | €258,021 | €242,146 | -€15,875 | -6.2% |
| Land and buildings | 22 | €183,578 | €161,507 | -€22,070 | -12.0% |
| Plant, machinery and equipment | 23 | - | €10,995 | +€10,995 | |
| Furniture and vehicles | 24 | €4,977 | €3,335 | -€1,642 | -33.0% |
| Other tangible fixed assets | 26 | €69,467 | €66,309 | -€3,158 | -4.5% |
| Current assets | 29/58 | €54,498 | €51,730 | -€2,768 | -5.1% |
| Stocks and contracts in progress | 3 | €5,266 | €9,111 | +€3,845 | +73.0% |
| Stocks | 30/36 | €5,266 | €9,111 | +€3,845 | +73.0% |
| Amounts receivable within one year | 40/41 | €39,689 | €25,421 | -€14,268 | -36.0% |
| Trade receivables | 40 | €39,689 | €24,215 | -€15,474 | -39.0% |
| Other amounts receivable | 41 | - | €1,206 | +€1,206 | |
| Cash at bank and in hand | 54/58 | €2,814 | €12,437 | +€9,623 | +341.9% |
| Deferred charges and accrued income | 490/1 | €6,729 | €4,761 | -€1,968 | -29.2% |
| Total equity and liabilities | 10/49 | €312,519 | €293,876 | -€18,643 | -6.0% |
| Equity | 10/15 | -€742 | €6,808 | +€7,550 | |
| Contributions | 10/11 | €200 | €200 | = | 0.0% |
| Reserves | 13 | - | €6,608 | +€6,608 | |
| Distributable reserves | 133 | - | €6,608 | +€6,608 | |
| Profit (loss) carried forward | 14 | -€942 | - | +€942 | |
| Provisions and deferred taxes | 16 | - | €18,229 | +€18,229 | |
| Provisions for liabilities and charges | 160/5 | - | €18,229 | +€18,229 | |
| Other liabilities and charges | 164/5 | - | €18,229 | +€18,229 | |
| Amounts payable | 17/49 | €313,261 | €268,839 | -€44,423 | -14.2% |
| Amounts payable after more than one year | 17 | €180,160 | €177,029 | -€3,131 | -1.7% |
| Financial debts | 170/4 | €180,160 | €177,029 | -€3,131 | -1.7% |
| Amounts payable within one year | 42/48 | €130,649 | €89,377 | -€41,272 | -31.6% |
| Current portion of amounts payable after more than one year | 42 | €12,606 | €27,923 | +€15,318 | +121.5% |
| Trade debts | 44 | €16,845 | €1,328 | -€15,517 | -92.1% |
| Suppliers | 440/4 | €16,845 | €1,328 | -€15,517 | -92.1% |
| Taxes, remuneration and social security | 45 | €17,197 | €14,047 | -€3,149 | -18.3% |
| Taxes | 450/3 | €11,814 | €11,087 | -€727 | -6.2% |
| Remuneration and social security | 454/9 | €5,383 | €2,961 | -€2,422 | -45.0% |
| Other amounts payable | 47/48 | €84,002 | €46,078 | -€37,924 | -45.1% |
| Accrued charges and deferred income | 492/3 | €2,452 | €2,433 | -€19 | -0.8% |
| Turnover | 70 | - | €210,481 | +€210,481 | |
| Non-recurring operating income | 76A | €8,354 | €605 | -€7,749 | -92.8% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €155,716 | +€155,716 | |
| Remuneration, social security and pensions | 62 | - | €1,394 | +€1,394 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,571 | €12,124 | +€553 | +4.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €18,229 | +€18,229 | |
| Other operating charges | 640/8 | €1,155 | €3,055 | +€1,900 | +164.6% |
| Non-recurring operating charges | 66A | €141 | - | -€141 | |
| Gross operating margin | 9900 | €30,276 | €69,077 | +€38,801 | +128.2% |
| Operating profit (loss) | 9901 | €17,410 | €34,275 | +€16,865 | +96.9% |
| Financial income | 75/76B | €110 | €12 | -€98 | -89.4% |
| Recurring financial income | 75 | €110 | €12 | -€98 | -89.4% |
| Financial charges | 65/66B | €8,272 | €9,276 | +€1,004 | +12.1% |
| Recurring financial charges | 65 | €8,272 | €9,276 | +€1,004 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €9,248 | €25,010 | +€15,763 | +170.4% |
| Income taxes | 67/77 | €2,794 | €15,794 | +€13,000 | +465.3% |
| Profit (loss) for the period | 9904 | €6,454 | €9,216 | +€2,763 | +42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,454 | €9,216 | +€2,763 | +42.8% |
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 12 October 2026 via checked.be.