PEJAMAX: 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.
PEJAMAX
Largest movements
- Current investments +€514,447
up €514,447 (+14.0%), from €3.7m to €4.2m
- Cash +€188,649
up €188,649 (+47.4%), from €398,322 to €586,971
mainly Net result for the year (+€722,986) and Depreciation (+€101,535)
- Tangible fixed assets +€72,417
up €72,417 (+6.1%), from €1.2m to €1.3m
of which Land and buildings: +€80,257
- Reserves +€722,986
up €722,986 (+21.9%), from €3.3m to €4.0m
of which Distributable reserves: +€722,986
- Tax, wage and social debts +€69,913
up €69,913 (+128.9%), from €54,248 to €124,161
- Gross operating margin +€201,775
up €201,775 (+23.7%), from €851,350 to €1.1m
- Taxes +€58,099
up €58,099 (+21.2%), from €274,239 to €332,338
- Depreciation +€29,529
up €29,529 (+41.0%), from €72,006 to €101,535
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 | €5,283,152 | €6,073,722 | +€790,570 | +15.0% |
| Fixed assets | 21/28 | €1,194,248 | €1,266,665 | +€72,417 | +6.1% |
| Tangible fixed assets | 22/27 | €1,194,248 | €1,266,665 | +€72,417 | +6.1% |
| Land and buildings | 22 | €1,173,170 | €1,253,427 | +€80,257 | +6.8% |
| Furniture and vehicles | 24 | €21,078 | €13,238 | -€7,840 | -37.2% |
| Current assets | 29/58 | €4,088,904 | €4,807,057 | +€718,153 | +17.6% |
| Amounts receivable within one year | 40/41 | €871 | €20,297 | +€19,426 | +2229.5% |
| Trade receivables | 40 | €871 | €0 | -€871 | -100.0% |
| Other amounts receivable | 41 | - | €20,297 | +€20,297 | |
| Current investments | 50/53 | €3,675,862 | €4,190,309 | +€514,447 | +14.0% |
| Cash at bank and in hand | 54/58 | €398,322 | €586,971 | +€188,649 | +47.4% |
| Deferred charges and accrued income | 490/1 | €13,849 | €9,480 | -€4,368 | -31.5% |
| Total equity and liabilities | 10/49 | €5,283,152 | €6,073,722 | +€790,570 | +15.0% |
| Equity | 10/15 | €5,221,018 | €5,944,004 | +€722,986 | +13.8% |
| Contributions | 10/11 | €1,926,600 | €1,926,600 | = | 0.0% |
| Reserves | 13 | €3,294,418 | €4,017,404 | +€722,986 | +21.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €3,294,418 | €4,017,404 | +€722,986 | +21.9% |
| Amounts payable | 17/49 | €62,134 | €129,718 | +€67,584 | +108.8% |
| Amounts payable within one year | 42/48 | €56,406 | €124,161 | +€67,755 | +120.1% |
| Trade debts | 44 | €322 | €0 | -€322 | -100.0% |
| Suppliers | 440/4 | €322 | €0 | -€322 | -100.0% |
| Taxes, remuneration and social security | 45 | €54,248 | €124,161 | +€69,913 | +128.9% |
| Taxes | 450/3 | €54,248 | €124,161 | +€69,913 | +128.9% |
| Other amounts payable | 47/48 | €1,836 | €0 | -€1,836 | -100.0% |
| Accrued charges and deferred income | 492/3 | €5,728 | €5,557 | -€171 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,006 | €101,535 | +€29,529 | +41.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €6,727 | €6,269 | -€458 | -6.8% |
| Gross operating margin | 9900 | €851,350 | €1,053,125 | +€201,775 | +23.7% |
| Operating profit (loss) | 9901 | €772,616 | €945,321 | +€172,704 | +22.4% |
| Financial income | 75/76B | €102,667 | €110,213 | +€7,546 | +7.4% |
| Recurring financial income | 75 | €102,667 | €110,213 | +€7,546 | +7.4% |
| Financial charges | 65/66B | €155 | €210 | +€56 | +36.0% |
| Recurring financial charges | 65 | €155 | €210 | +€56 | +36.0% |
| Profit (loss) for the period before taxes | 9903 | €875,129 | €1,055,324 | +€180,195 | +20.6% |
| Income taxes | 67/77 | €274,239 | €332,338 | +€58,099 | +21.2% |
| Profit (loss) for the period | 9904 | €600,890 | €722,986 | +€122,096 | +20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €600,890 | €722,986 | +€122,096 | +20.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.