C.PANCO: 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.
C.PANCO
Largest movements
- Cash +€101,224
up €101,224 (+55.8%), from €181,289 to €282,513
mainly Net result for the year (+€110,343) and Receivables within one year (+€58,400)
- Receivables within one year -€58,400
down €58,400 (-77.7%), from €75,200 to €16,800
- Current investments +€12,815
new in 2025: €12,815
- Financial fixed assets +€10,973
up €10,973 (+4.7%), from €232,000 to €242,973
- Debts after one year +€54,879
up €54,879 (+17.3%), from €317,318 to €372,197
of which Other amounts payable: +€80,000
- Other debts +€10,688
up €10,688 (+9.8%), from €109,574 to €120,261
- Financial income -€40,445
down €40,445 (-53.8%), from €75,213 to €34,767
- Gross operating margin +€39,390
up €39,390 (+62.2%), from €63,330 to €102,720
- Financial charges +€3,712
up €3,712 (+289%), from €1,286 to €4,998
- Taxes +€1,109
up €1,109 (+7.1%), from €15,512 to €16,621
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 | €497,688 | €559,080 | +€61,392 | +12.3% |
| Fixed assets | 21/28 | €240,852 | €246,597 | +€5,745 | +2.4% |
| Tangible fixed assets | 22/27 | €8,852 | €3,624 | -€5,228 | -59.1% |
| Furniture and vehicles | 24 | €8,852 | €3,624 | -€5,228 | -59.1% |
| Financial fixed assets | 28 | €232,000 | €242,973 | +€10,973 | +4.7% |
| Current assets | 29/58 | €256,836 | €312,483 | +€55,647 | +21.7% |
| Amounts receivable within one year | 40/41 | €75,200 | €16,800 | -€58,400 | -77.7% |
| Other amounts receivable | 41 | €75,200 | €16,800 | -€58,400 | -77.7% |
| Current investments | 50/53 | - | €12,815 | +€12,815 | |
| Cash at bank and in hand | 54/58 | €181,289 | €282,513 | +€101,224 | +55.8% |
| Deferred charges and accrued income | 490/1 | €348 | €355 | +€7 | +2.0% |
| Total equity and liabilities | 10/49 | €497,688 | €559,080 | +€61,392 | +12.3% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Amounts payable | 17/49 | €477,228 | €538,620 | +€61,392 | +12.9% |
| Amounts payable after more than one year | 17 | €317,318 | €372,197 | +€54,879 | +17.3% |
| Financial debts | 170/4 | €97,318 | €72,197 | -€25,121 | -25.8% |
| Other amounts payable | 178/9 | €220,000 | €300,000 | +€80,000 | +36.4% |
| Amounts payable within one year | 42/48 | €159,910 | €166,423 | +€6,513 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €29,095 | €25,121 | -€3,974 | -13.7% |
| Trade debts | 44 | €2,463 | €2,189 | -€274 | -11.1% |
| Suppliers | 440/4 | €2,463 | €2,189 | -€274 | -11.1% |
| Taxes, remuneration and social security | 45 | €18,778 | €18,851 | +€74 | +0.4% |
| Taxes | 450/3 | €18,778 | €18,851 | +€74 | +0.4% |
| Other amounts payable | 47/48 | €109,574 | €120,261 | +€10,688 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,222 | €5,228 | -€994 | -16.0% |
| Other operating charges | 640/8 | €338 | €297 | -€41 | -12.0% |
| Gross operating margin | 9900 | €63,330 | €102,720 | +€39,390 | +62.2% |
| Operating profit (loss) | 9901 | €56,770 | €97,195 | +€40,425 | +71.2% |
| Financial income | 75/76B | €75,213 | €34,767 | -€40,445 | -53.8% |
| Recurring financial income | 75 | €75,213 | €34,767 | -€40,445 | -53.8% |
| Financial charges | 65/66B | €1,286 | €4,998 | +€3,712 | +289% |
| Recurring financial charges | 65 | €1,286 | €4,998 | +€3,712 | +289% |
| Profit (loss) for the period before taxes | 9903 | €130,697 | €126,964 | -€3,732 | -2.9% |
| Income taxes | 67/77 | €15,512 | €16,621 | +€1,109 | +7.1% |
| Profit (loss) for the period | 9904 | €115,184 | €110,343 | -€4,841 | -4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €115,184 | €110,343 | -€4,841 | -4.2% |
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 30 October 2026 via checked.be.