PJA Retail: 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.
PJA Retail
Largest movements
- Stocks and contracts +€43,501
up €43,501 (+25.2%), from €172,349 to €215,850
- Receivables within one year -€39,156
down €39,156 (-41.9%), from €93,378 to €54,222
of which Trade receivables: -€36,180
- Tangible fixed assets -€29,369
down €29,369 (-22.4%), from €130,964 to €101,595
of which Other tangible fixed assets: -€27,373
- Cash +€8,381
up €8,381 (+86.9%), from €9,649 to €18,030
mainly Receivables within one year (+€39,156) and Depreciation (+€29,369)
- Profit (loss) carried forward -€53,079
down €53,079 (-18.1%), from -€292,467 to -€345,546
- Other debts +€20,442
up €20,442 (+32.0%), from €63,854 to €84,296
- Tax, wage and social debts +€11,962
up €11,962 (+40.1%), from €29,803 to €41,765
of which Remuneration and social security: +€9,910
- Staff costs +€33,072
up €33,072 (+18.8%), from €175,849 to €208,922
- Gross operating margin +€26,085
up €26,085 (+15.5%), from €167,864 to €193,949
- Financial charges -€3,047
down €3,047 (-50.3%), from €6,056 to €3,009
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 | €429,617 | €409,460 | -€20,156 | -4.7% |
| Fixed assets | 21/28 | €139,964 | €110,595 | -€29,369 | -21.0% |
| Tangible fixed assets | 22/27 | €130,964 | €101,595 | -€29,369 | -22.4% |
| Plant, machinery and equipment | 23 | €2,294 | €1,124 | -€1,170 | -51.0% |
| Furniture and vehicles | 24 | €2,114 | €1,287 | -€826 | -39.1% |
| Other tangible fixed assets | 26 | €126,557 | €99,184 | -€27,373 | -21.6% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €289,652 | €298,865 | +€9,213 | +3.2% |
| Stocks and contracts in progress | 3 | €172,349 | €215,850 | +€43,501 | +25.2% |
| Stocks | 30/36 | €172,349 | €215,850 | +€43,501 | +25.2% |
| Amounts receivable within one year | 40/41 | €93,378 | €54,222 | -€39,156 | -41.9% |
| Trade receivables | 40 | €90,403 | €54,222 | -€36,180 | -40.0% |
| Other amounts receivable | 41 | €2,975 | - | -€2,975 | |
| Cash at bank and in hand | 54/58 | €9,649 | €18,030 | +€8,381 | +86.9% |
| Deferred charges and accrued income | 490/1 | €14,277 | €10,763 | -€3,513 | -24.6% |
| Total equity and liabilities | 10/49 | €429,617 | €409,460 | -€20,156 | -4.7% |
| Equity | 10/15 | -€172,467 | -€225,546 | -€53,079 | -30.8% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€292,467 | -€345,546 | -€53,079 | -18.1% |
| Amounts payable | 17/49 | €602,084 | €635,006 | +€32,923 | +5.5% |
| Amounts payable within one year | 42/48 | €598,816 | €632,174 | +€33,358 | +5.6% |
| Financial debts | 43 | €3,091 | €4,339 | +€1,248 | +40.4% |
| Credit institutions | 430/8 | €3,091 | €4,339 | +€1,248 | +40.4% |
| Trade debts | 44 | €502,068 | €501,774 | -€294 | -0.1% |
| Suppliers | 440/4 | €502,068 | €501,774 | -€294 | -0.1% |
| Taxes, remuneration and social security | 45 | €29,803 | €41,765 | +€11,962 | +40.1% |
| Taxes | 450/3 | €10,767 | €12,818 | +€2,051 | +19.1% |
| Remuneration and social security | 454/9 | €19,036 | €28,946 | +€9,910 | +52.1% |
| Other amounts payable | 47/48 | €63,854 | €84,296 | +€20,442 | +32.0% |
| Accrued charges and deferred income | 492/3 | €3,268 | €2,833 | -€435 | -13.3% |
| Remuneration, social security and pensions | 62 | €175,849 | €208,922 | +€33,072 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,908 | €29,369 | +€461 | +1.6% |
| Other operating charges | 640/8 | €6,318 | €6,246 | -€72 | -1.1% |
| Gross operating margin | 9900 | €167,864 | €193,949 | +€26,085 | +15.5% |
| Operating profit (loss) | 9901 | -€43,212 | -€50,588 | -€7,376 | -17.1% |
| Financial income | 75/76B | - | €518 | +€518 | |
| Recurring financial income | 75 | - | €518 | +€518 | |
| Financial charges | 65/66B | €6,056 | €3,009 | -€3,047 | -50.3% |
| Recurring financial charges | 65 | €6,056 | €3,009 | -€3,047 | -50.3% |
| Profit (loss) for the period before taxes | 9903 | -€49,269 | -€53,079 | -€3,810 | -7.7% |
| Profit (loss) for the period | 9904 | -€49,269 | -€53,079 | -€3,810 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,269 | -€53,079 | -€3,810 | -7.7% |
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 25 October 2026 via checked.be.