PAMARIM: what changed
Two fiscal 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.
PAMARIM
Largest movements
- Tangible fixed assets +€632,587
up €632,587 (+11.3%), from €5.6m to €6.2m
of which Land and buildings: +€632,862
- Cash -€614,326
down €614,326 (-71.0%), from €865,748 to €251,422
mainly Investment in fixed assets (net) (-€858,258) and Receivables within one year (-€87,435)
- Receivables within one year +€87,435
up €87,435 (+170.0%), from €51,418 to €138,854
of which Other amounts receivable: +€102,260
- Trade debts +€93,614
up €93,614 (+8496.5%), from €1,102 to €94,716
- Staff costs -€17,114
down €17,114 (-53.3%), from €32,102 to €14,988
- Gross operating margin +€10,257
up €10,257 (+4.2%), from €242,088 to €252,345
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 | €7,325,278 | €7,427,031 | +€101,753 | +1.4% |
| Fixed assets | 21/28 | €5,585,425 | €6,218,653 | +€633,228 | +11.3% |
| Tangible fixed assets | 22/27 | €5,585,425 | €6,218,011 | +€632,587 | +11.3% |
| Land and buildings | 22 | €5,585,150 | €6,218,011 | +€632,862 | +11.3% |
| Plant, machinery and equipment | 23 | €275 | - | -€275 | |
| Financial fixed assets | 28 | - | €642 | +€642 | |
| Current assets | 29/58 | €1,739,853 | €1,208,378 | -€531,475 | -30.5% |
| Amounts receivable within one year | 40/41 | €51,418 | €138,854 | +€87,435 | +170.0% |
| Trade receivables | 40 | €45,366 | €30,541 | -€14,825 | -32.7% |
| Other amounts receivable | 41 | €6,053 | €108,312 | +€102,260 | +1689.5% |
| Current investments | 50/53 | €800,000 | €800,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €865,748 | €251,422 | -€614,326 | -71.0% |
| Deferred charges and accrued income | 490/1 | €22,687 | €18,103 | -€4,584 | -20.2% |
| Total equity and liabilities | 10/49 | €7,325,278 | €7,427,031 | +€101,753 | +1.4% |
| Equity | 10/15 | €7,308,167 | €7,318,576 | +€10,409 | +0.1% |
| Contributions | 10/11 | €6,699,474 | €6,699,474 | = | 0.0% |
| Capital | 10 | €6,699,474 | €6,699,474 | = | 0.0% |
| Issued capital | 100 | €7,000,000 | €7,000,000 | = | 0.0% |
| Uncalled capital | 101 | €300,526 | €300,526 | = | 0.0% |
| Reserves | 13 | €608,693 | €619,102 | +€10,409 | +1.7% |
| Non-distributable reserves | 130/1 | €108,210 | €108,730 | +€520 | +0.5% |
| Legal reserve | 130 | €108,210 | €108,730 | +€520 | +0.5% |
| Tax-exempt reserves | 132 | €425,000 | €425,000 | = | 0.0% |
| Distributable reserves | 133 | €75,483 | €85,372 | +€9,888 | +13.1% |
| Amounts payable | 17/49 | €17,110 | €108,455 | +€91,345 | +533.9% |
| Amounts payable within one year | 42/48 | €3,676 | €97,556 | +€93,881 | +2554.0% |
| Trade debts | 44 | €1,102 | €94,716 | +€93,614 | +8496.5% |
| Suppliers | 440/4 | €1,102 | €94,716 | +€93,614 | +8496.5% |
| Taxes, remuneration and social security | 45 | €2,574 | - | -€2,574 | |
| Remuneration and social security | 454/9 | €2,574 | - | -€2,574 | |
| Other amounts payable | 47/48 | - | €2,841 | +€2,841 | |
| Accrued charges and deferred income | 492/3 | €13,435 | €10,898 | -€2,536 | -18.9% |
| Remuneration, social security and pensions | 62 | €32,102 | €14,988 | -€17,114 | -53.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €223,587 | €225,029 | +€1,442 | +0.6% |
| Other operating charges | 640/8 | €26,427 | €27,121 | +€694 | +2.6% |
| Gross operating margin | 9900 | €242,088 | €252,345 | +€10,257 | +4.2% |
| Operating profit (loss) | 9901 | -€40,028 | -€14,793 | +€25,235 | +63.0% |
| Financial income | 75/76B | €27,151 | €25,289 | -€1,862 | -6.9% |
| Recurring financial income | 75 | €27,151 | €25,289 | -€1,862 | -6.9% |
| Financial charges | 65/66B | €97 | €87 | -€10 | -10.5% |
| Recurring financial charges | 65 | €97 | €87 | -€10 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | -€12,975 | €10,409 | +€23,384 | |
| Profit (loss) for the period | 9904 | -€12,975 | €10,409 | +€23,384 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,975 | €10,409 | +€23,384 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.