PAMCO23: 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.
PAMCO23
Largest movements
- Receivables after one year -€12,099
down €12,099 (-33.7%), from €35,949 to €23,850
of which Other amounts receivable: -€22,207
- Tangible fixed assets -€2,638
down €2,638 (-39.0%), from €6,760 to €4,122
of which Plant, machinery and equipment: -€1,398
- Profit (loss) carried forward -€7,573
down €7,573 (-20.5%), from €37,003 to €29,430
- Trade debts -€5,873
down €5,873 (-97.5%), from €6,024 to €151
- Current portion of long-term debt -€713
no longer reported in 2025 (was €713)
- Taxes +€4,447
up €4,447, from -€1,947 to €2,500
- Gross operating margin +€3,484
up €3,484 (+57.0%), from -€6,117 to -€2,633
- Financial charges -€779
down €779 (-40.4%), from €1,928 to €1,149
- Financial income -€771
down €771 (-36.4%), from €2,117 to €1,346
- Depreciation +€487
up €487 (+22.7%), from €2,151 to €2,638
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 | €67,533 | €53,642 | -€13,892 | -20.6% |
| Fixed assets | 21/28 | €6,835 | €4,197 | -€2,638 | -38.6% |
| Tangible fixed assets | 22/27 | €6,760 | €4,122 | -€2,638 | -39.0% |
| Plant, machinery and equipment | 23 | €3,261 | €1,863 | -€1,398 | -42.9% |
| Furniture and vehicles | 24 | €3,499 | €2,259 | -€1,240 | -35.4% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €60,698 | €49,444 | -€11,254 | -18.5% |
| Amounts receivable after more than one year | 29 | €35,949 | €23,850 | -€12,099 | -33.7% |
| Trade receivables | 290 | - | €10,108 | +€10,108 | |
| Other amounts receivable | 291 | €35,949 | €13,742 | -€22,207 | -61.8% |
| Stocks and contracts in progress | 3 | €2,583 | €3,154 | +€572 | +22.1% |
| Stocks | 30/36 | €2,583 | €3,154 | +€572 | +22.1% |
| Amounts receivable within one year | 40/41 | €18,717 | €19,037 | +€320 | +1.7% |
| Trade receivables | 40 | - | €341 | +€341 | |
| Other amounts receivable | 41 | €18,717 | €18,696 | -€21 | -0.1% |
| Cash at bank and in hand | 54/58 | €3,449 | €3,402 | -€47 | -1.4% |
| Total equity and liabilities | 10/49 | €67,533 | €53,642 | -€13,892 | -20.6% |
| Equity | 10/15 | €57,931 | €50,358 | -€7,573 | -13.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,328 | €2,328 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,328 | €2,328 | = | 0.0% |
| Legal reserve | 130 | €2,328 | €2,328 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,003 | €29,430 | -€7,573 | -20.5% |
| Amounts payable | 17/49 | €9,602 | €3,283 | -€6,319 | -65.8% |
| Amounts payable within one year | 42/48 | €9,602 | €3,283 | -€6,319 | -65.8% |
| Current portion of amounts payable after more than one year | 42 | €713 | - | -€713 | |
| Trade debts | 44 | €6,024 | €151 | -€5,873 | -97.5% |
| Suppliers | 440/4 | €6,024 | €151 | -€5,873 | -97.5% |
| Taxes, remuneration and social security | 45 | €2,865 | €3,132 | +€267 | +9.3% |
| Taxes | 450/3 | €1,865 | €2,132 | +€267 | +14.3% |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,151 | €2,638 | +€487 | +22.7% |
| Other operating charges | 640/8 | €39 | - | -€39 | |
| Gross operating margin | 9900 | -€6,117 | -€2,633 | +€3,484 | +57.0% |
| Operating profit (loss) | 9901 | -€8,306 | -€5,270 | +€3,036 | +36.5% |
| Financial income | 75/76B | €2,117 | €1,346 | -€771 | -36.4% |
| Recurring financial income | 75 | €2,117 | €1,346 | -€771 | -36.4% |
| Financial charges | 65/66B | €1,928 | €1,149 | -€779 | -40.4% |
| Recurring financial charges | 65 | €1,928 | €1,149 | -€779 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | -€8,117 | -€5,073 | +€3,044 | +37.5% |
| Income taxes | 67/77 | -€1,947 | €2,500 | +€4,447 | |
| Profit (loss) for the period | 9904 | -€6,170 | -€7,573 | -€1,403 | -22.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,170 | -€7,573 | -€1,403 | -22.7% |
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 10 October 2026 via checked.be.