PAYAM LEO: 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.
PAYAM LEO
Largest movements
- Receivables within one year +€7,523
up €7,523 (+554%), from €1,358 to €8,880
of which Other amounts receivable: +€8,880
- Cash +€2,455
up €2,455 (+108%), from €2,263 to €4,718
mainly Tax, wage and social debts (+€3,485) and Accrued charges and deferred income (+€2,328)
- Intangible fixed assets -€1,799
down €1,799 (-10.2%), from €17,699 to €15,900
- Tax, wage and social debts +€3,485
up €3,485 (+177%), from €1,970 to €5,455
of which Remuneration and social security: +€2,593
- Accrued charges and deferred income +€2,328
new in 2025: €2,328
- Trade debts +€1,546
up €1,546 (+12.2%), from €12,723 to €14,270
- Profit (loss) carried forward +€819
up €819 (+59.6%), from -€1,373 to -€554
- Gross operating margin +€6,215
up €6,215, from -€603 to €5,612
- Staff costs +€1,773
up €1,773 (+378%), from €470 to €2,243
- Depreciation +€1,498
up €1,498 (+498%), from €301 to €1,799
- Other operating charges +€479
new in 2025: €479
- Taxes +€273
new in 2025: €273
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 | €21,320 | €29,499 | +€8,179 | +38.4% |
| Fixed assets | 21/28 | €17,699 | €15,900 | -€1,799 | -10.2% |
| Intangible fixed assets | 21 | €17,699 | €15,900 | -€1,799 | -10.2% |
| Current assets | 29/58 | €3,621 | €13,598 | +€9,978 | +276% |
| Amounts receivable within one year | 40/41 | €1,358 | €8,880 | +€7,523 | +554% |
| Trade receivables | 40 | €1,358 | - | -€1,358 | |
| Other amounts receivable | 41 | - | €8,880 | +€8,880 | |
| Cash at bank and in hand | 54/58 | €2,263 | €4,718 | +€2,455 | +108% |
| Total equity and liabilities | 10/49 | €21,320 | €29,499 | +€8,179 | +38.4% |
| Equity | 10/15 | -€1,373 | -€554 | +€819 | +59.6% |
| Profit (loss) carried forward | 14 | -€1,373 | -€554 | +€819 | +59.6% |
| Amounts payable | 17/49 | €22,693 | €30,053 | +€7,360 | +32.4% |
| Amounts payable within one year | 42/48 | €22,693 | €27,725 | +€5,032 | +22.2% |
| Trade debts | 44 | €12,723 | €14,270 | +€1,546 | +12.2% |
| Suppliers | 440/4 | €12,723 | €14,270 | +€1,546 | +12.2% |
| Taxes, remuneration and social security | 45 | €1,970 | €5,455 | +€3,485 | +177% |
| Taxes | 450/3 | - | €892 | +€892 | |
| Remuneration and social security | 454/9 | €1,970 | €4,563 | +€2,593 | +132% |
| Other amounts payable | 47/48 | €8,000 | €8,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €2,328 | +€2,328 | |
| Remuneration, social security and pensions | 62 | €470 | €2,243 | +€1,773 | +378% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €301 | €1,799 | +€1,498 | +498% |
| Other operating charges | 640/8 | - | €479 | +€479 | |
| Gross operating margin | 9900 | -€603 | €5,612 | +€6,215 | |
| Operating profit (loss) | 9901 | -€1,373 | €1,092 | +€2,464 | |
| Profit (loss) for the period before taxes | 9903 | -€1,373 | €1,092 | +€2,464 | |
| Income taxes | 67/77 | - | €273 | +€273 | |
| Profit (loss) for the period | 9904 | -€1,373 | €819 | +€2,192 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,373 | €819 | +€2,192 |
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 26 October 2026 via checked.be.