PAMBO: 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.
What changed
PAMBO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€18,259
2024 · -€1,012-€17,247
Equity
€8.3m
2024 · €8.3m-€18,259
Cash
€66,096
2024 · €176,306-€110,210
Balance sheet total
€12.9m
2024 · €12.4m+€513,318
Largest movements
Assets
- Tangible fixed assets +€615,352
up €615,352 (+13.4%), from €4.6m to €5.2m
of which Land and buildings: +€542,746
- Current investments -€392,243
down €392,243 (-12.4%), from €3.2m to €2.8m
- Receivables after one year +€245,209
up €245,209 (+6.0%), from €4.1m to €4.4m
of which Other amounts receivable: +€238,027
Equity and liabilities
- Debts after one year +€506,626
up €506,626 (+13.2%), from €3.8m to €4.4m
Income statement
- Depreciation +€65,857
up €65,857 (+64.6%), from €101,902 to €167,759
- Financial income +€56,825
up €56,825 (+22.6%), from €251,385 to €308,209
- Gross operating margin -€26,894
down €26,894, from €14,580 to -€12,314
- Other operating charges -€17,717
down €17,717 (-47.6%), from €37,237 to €19,520
- Taxes -€15,099
down €15,099, from €0 to -€15,099
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
-€1,012
Gross operating margin
-€26,894
Depreciation
-€65,857
Other operating charges
+€17,717
Financial income
+€56,825
Financial charges
-€14,138
Taxes
+€15,099
Result 2025
-€18,259
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.
From operations
-€151,933
Investment
-€495,868
Financing
+€537,591
Cash 2024
€176,306
From operations (derived)
-€151,933
Net result for the year
-€18,259
Depreciation
+€167,759
Receivables after one year
-€245,209
Receivables within one year
-€68,882
Deferred charges and accrued income
+€18,673
Trade debts
-€12,005
Tax, wage and social debts
+€4,396
Accrued charges and deferred income
+€1,594
Investment (derived)
-€495,868
Investment in fixed assets (net)
-€888,111
Current investments
+€392,243
Financing
+€537,591
Debts after one year
+€506,626
Current portion of long-term debt
+€30,965
Cash 2025
€66,096
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,371,088 | €12,884,406 | +€513,318 | +4.1% |
| Fixed assets | 21/28 | €4,739,204 | €5,459,556 | +€720,352 | +15.2% |
| Tangible fixed assets | 22/27 | €4,584,204 | €5,199,556 | +€615,352 | +13.4% |
| Land and buildings | 22 | €4,569,876 | €5,112,622 | +€542,746 | +11.9% |
| Furniture and vehicles | 24 | €14,328 | €86,934 | +€72,606 | +506.7% |
| Financial fixed assets | 28 | €155,000 | €260,000 | +€105,000 | +67.7% |
| Current assets | 29/58 | €7,631,884 | €7,424,850 | -€207,035 | -2.7% |
| Amounts receivable after more than one year | 29 | €4,117,258 | €4,362,467 | +€245,209 | +6.0% |
| Trade receivables | 290 | €46,194 | €53,377 | +€7,183 | +15.5% |
| Other amounts receivable | 291 | €4,071,063 | €4,309,090 | +€238,027 | +5.8% |
| Amounts receivable within one year | 40/41 | €130,995 | €199,877 | +€68,882 | +52.6% |
| Trade receivables | 40 | €37,328 | €61,128 | +€23,801 | +63.8% |
| Other amounts receivable | 41 | €93,667 | €138,749 | +€45,082 | +48.1% |
| Current investments | 50/53 | €3,171,550 | €2,779,307 | -€392,243 | -12.4% |
| Cash at bank and in hand | 54/58 | €176,306 | €66,096 | -€110,210 | -62.5% |
| Deferred charges and accrued income | 490/1 | €35,776 | €17,103 | -€18,673 | -52.2% |
| Total equity and liabilities | 10/49 | €12,371,088 | €12,884,406 | +€513,318 | +4.1% |
| Equity | 10/15 | €8,327,836 | €8,309,576 | -€18,259 | -0.2% |
| Contributions | 10/11 | €997,809 | €997,809 | = | 0.0% |
| Reserves | 13 | €7,330,014 | €7,311,768 | -€18,247 | -0.2% |
| Distributable reserves | 133 | €7,330,014 | €7,311,768 | -€18,247 | -0.2% |
| Profit (loss) carried forward | 14 | €13 | €0 | -€13 | -100.0% |
| Amounts payable | 17/49 | €4,043,252 | €4,574,829 | +€531,577 | +13.1% |
| Amounts payable after more than one year | 17 | €3,843,999 | €4,350,625 | +€506,626 | +13.2% |
| Financial debts | 170/4 | €3,843,999 | €4,350,625 | +€506,626 | +13.2% |
| Amounts payable within one year | 42/48 | €194,193 | €217,549 | +€23,356 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €153,144 | €184,109 | +€30,965 | +20.2% |
| Trade debts | 44 | €31,749 | €19,744 | -€12,005 | -37.8% |
| Suppliers | 440/4 | €31,749 | €19,744 | -€12,005 | -37.8% |
| Taxes, remuneration and social security | 45 | - | €4,396 | +€4,396 | |
| Taxes | 450/3 | - | €4,396 | +€4,396 | |
| Other amounts payable | 47/48 | €9,300 | €9,300 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €5,061 | €6,655 | +€1,594 | +31.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,902 | €167,759 | +€65,857 | +64.6% |
| Other operating charges | 640/8 | €37,237 | €19,520 | -€17,717 | -47.6% |
| Gross operating margin | 9900 | €14,580 | -€12,314 | -€26,894 | |
| Operating profit (loss) | 9901 | -€124,559 | -€199,592 | -€75,033 | -60.2% |
| Financial income | 75/76B | €251,385 | €308,209 | +€56,825 | +22.6% |
| Recurring financial income | 75 | €251,385 | €308,209 | +€56,825 | +22.6% |
| Financial charges | 65/66B | €127,838 | €141,976 | +€14,138 | +11.1% |
| Recurring financial charges | 65 | €127,838 | €141,976 | +€14,138 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,012 | -€33,359 | -€32,346 | -3195.3% |
| Income taxes | 67/77 | €0 | -€15,099 | -€15,099 | |
| Profit (loss) for the period | 9904 | -€1,012 | -€18,259 | -€17,247 | -1703.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,012 | -€18,259 | -€17,247 | -1703.7% |
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 29 September 2026 via checked.be.