PAMUS: 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.
PAMUS
Largest movements
- Receivables within one year +€196,454
up €196,454 (+206%), from €95,552 to €292,006
of which Trade receivables: +€184,816
- Tangible fixed assets +€21,528
up €21,528 (+350%), from €6,158 to €27,686
- Cash +€11,571
up €11,571 (+571%), from €2,026 to €13,597
mainly Tax, wage and social debts (+€127,652) and Trade debts (+€64,164)
- Tax, wage and social debts +€127,652
up €127,652 (+703%), from €18,162 to €145,814
of which Taxes: +€96,428
- Trade debts +€64,164
up €64,164 (+137%), from €46,714 to €110,878
- Reserves +€39,580
up €39,580 (+145%), from €27,300 to €66,880
- Gross operating margin +€198,269
up €198,269 (+306%), from €64,776 to €263,045
- Staff costs +€172,185
up €172,185 (+1,122%), from €15,351 to €187,536
- Taxes +€9,675
up €9,675 (+76.6%), from €12,625 to €22,300
- Depreciation +€6,800
up €6,800 (+1,989%), from €342 to €7,142
- Other operating charges -€2,853
down €2,853 (-32.4%), from €8,792 to €5,940
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 | €104,325 | €338,724 | +€234,400 | +225% |
| Fixed assets | 21/28 | €6,575 | €30,103 | +€23,528 | +358% |
| Tangible fixed assets | 22/27 | €6,158 | €27,686 | +€21,528 | +350% |
| Furniture and vehicles | 24 | €6,158 | €27,686 | +€21,528 | +350% |
| Financial fixed assets | 28 | €417 | €2,417 | +€2,000 | +480% |
| Current assets | 29/58 | €97,750 | €308,622 | +€210,872 | +216% |
| Amounts receivable within one year | 40/41 | €95,552 | €292,006 | +€196,454 | +206% |
| Trade receivables | 40 | €90,172 | €274,988 | +€184,816 | +205% |
| Other amounts receivable | 41 | €5,380 | €17,017 | +€11,638 | +216% |
| Cash at bank and in hand | 54/58 | €2,026 | €13,597 | +€11,571 | +571% |
| Deferred charges and accrued income | 490/1 | €172 | €3,019 | +€2,847 | +1,651% |
| Total equity and liabilities | 10/49 | €104,325 | €338,724 | +€234,400 | +225% |
| Equity | 10/15 | €39,449 | €79,032 | +€39,583 | +100% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €27,300 | €66,880 | +€39,580 | +145% |
| Distributable reserves | 133 | €27,300 | €66,880 | +€39,580 | +145% |
| Profit (loss) carried forward | 14 | €4,149 | €4,152 | +€3 | +0.1% |
| Amounts payable | 17/49 | €64,876 | €259,692 | +€194,817 | +300% |
| Amounts payable within one year | 42/48 | €64,876 | €259,692 | +€194,817 | +300% |
| Trade debts | 44 | €46,714 | €110,878 | +€64,164 | +137% |
| Suppliers | 440/4 | €46,714 | €110,878 | +€64,164 | +137% |
| Taxes, remuneration and social security | 45 | €18,162 | €145,814 | +€127,652 | +703% |
| Taxes | 450/3 | €15,931 | €112,359 | +€96,428 | +605% |
| Remuneration and social security | 454/9 | €2,231 | €33,455 | +€31,224 | +1,400% |
| Other amounts payable | 47/48 | - | €3,000 | +€3,000 | |
| Remuneration, social security and pensions | 62 | €15,351 | €187,536 | +€172,185 | +1,122% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €342 | €7,142 | +€6,800 | +1,989% |
| Other operating charges | 640/8 | €8,792 | €5,940 | -€2,853 | -32.4% |
| Gross operating margin | 9900 | €64,776 | €263,045 | +€198,269 | +306% |
| Operating profit (loss) | 9901 | €40,291 | €62,428 | +€22,137 | +54.9% |
| Financial income | 75/76B | - | €42 | +€42 | |
| Recurring financial income | 75 | - | €42 | +€42 | |
| Financial charges | 65/66B | €333 | €586 | +€253 | +76.1% |
| Recurring financial charges | 65 | €333 | €586 | +€253 | +76.1% |
| Profit (loss) for the period before taxes | 9903 | €39,958 | €61,883 | +€21,925 | +54.9% |
| Income taxes | 67/77 | €12,625 | €22,300 | +€9,675 | +76.6% |
| Profit (loss) for the period | 9904 | €27,333 | €39,583 | +€12,250 | +44.8% |
| Profit (loss) for the period to be appropriated | 9905 | €27,333 | €39,583 | +€12,250 | +44.8% |
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 20 October 2026 via checked.be.