5PANOTS: 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.
5PANOTS
Largest movements
- Cash +€78,377
up €78,377 (+54.6%), from €143,612 to €221,989
mainly Net result for the year (+€69,454) and Tax, wage and social debts (+€11,040)
- Profit (loss) carried forward +€69,454
up €69,454 (+66.8%), from €103,962 to €173,416
- Tax, wage and social debts +€11,040
up €11,040 (+27.1%), from €40,732 to €51,772
- Gross operating margin -€9,066
down €9,066 (-8.8%), from €102,749 to €93,683
- Taxes -€2,324
down €2,324 (-11.3%), from €20,598 to €18,274
- Depreciation +€1,507
up €1,507 (+315.4%), from €478 to €1,985
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 | €148,111 | €227,619 | +€79,508 | +53.7% |
| Fixed assets | 21/28 | €4,310 | €3,397 | -€912 | -21.2% |
| Tangible fixed assets | 22/27 | €4,310 | €3,397 | -€912 | -21.2% |
| Furniture and vehicles | 24 | €4,310 | €3,397 | -€912 | -21.2% |
| Current assets | 29/58 | €143,801 | €224,221 | +€80,420 | +55.9% |
| Amounts receivable within one year | 40/41 | - | €2,232 | +€2,232 | |
| Trade receivables | 40 | - | €2,232 | +€2,232 | |
| Cash at bank and in hand | 54/58 | €143,612 | €221,989 | +€78,377 | +54.6% |
| Deferred charges and accrued income | 490/1 | €189 | - | -€189 | |
| Total equity and liabilities | 10/49 | €148,111 | €227,619 | +€79,508 | +53.7% |
| Equity | 10/15 | €105,962 | €175,416 | +€69,454 | +65.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €103,962 | €173,416 | +€69,454 | +66.8% |
| Amounts payable | 17/49 | €42,149 | €52,202 | +€10,054 | +23.9% |
| Amounts payable within one year | 42/48 | €41,659 | €52,202 | +€10,544 | +25.3% |
| Trade debts | 44 | €314 | €430 | +€116 | +36.9% |
| Suppliers | 440/4 | €314 | €430 | +€116 | +36.9% |
| Taxes, remuneration and social security | 45 | €40,732 | €51,772 | +€11,040 | +27.1% |
| Taxes | 450/3 | €40,732 | €51,772 | +€11,040 | +27.1% |
| Other amounts payable | 47/48 | €613 | - | -€613 | |
| Accrued charges and deferred income | 492/3 | €490 | - | -€490 | |
| Remuneration, social security and pensions | 62 | - | €64 | +€64 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €478 | €1,985 | +€1,507 | +315.4% |
| Other operating charges | 640/8 | €541 | €831 | +€290 | +53.6% |
| Gross operating margin | 9900 | €102,749 | €93,683 | -€9,066 | -8.8% |
| Operating profit (loss) | 9901 | €101,730 | €90,803 | -€10,927 | -10.7% |
| Financial charges | 65/66B | €3,101 | €3,075 | -€26 | -0.8% |
| Recurring financial charges | 65 | €3,101 | €3,075 | -€26 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €98,630 | €87,728 | -€10,901 | -11.1% |
| Income taxes | 67/77 | €20,598 | €18,274 | -€2,324 | -11.3% |
| Profit (loss) for the period | 9904 | €78,032 | €69,454 | -€8,578 | -11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €78,032 | €69,454 | -€8,578 | -11.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.