Erwin Panis: 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.
Erwin Panis
Largest movements
- Stocks and contracts -€16,972
no longer reported in 2024 (was €16,972)
- Tangible fixed assets -€11,847
down €11,847 (-58.7%), from €20,177 to €8,330
of which Plant, machinery and equipment: -€8,320
- Receivables within one year -€7,098
down €7,098 (-70.3%), from €10,099 to €3,000
of which Trade receivables: -€6,781
- Profit (loss) carried forward -€17,241
down €17,241 (-44.8%), from -€38,504 to -€55,745
- Debts after one year -€10,009
down €10,009 (-92.2%), from €10,851 to €842
- Trade debts -€6,707
down €6,707 (-69.7%), from €9,625 to €2,918
- Other debts -€5,634
down €5,634 (-67.1%), from €8,396 to €2,762
- Tax, wage and social debts +€2,997
up €2,997 (+549.4%), from €546 to €3,543
- Gross operating margin -€17,872
down €17,872, from €10,666 to -€7,205
- Depreciation -€6,658
down €6,658 (-44.5%), from €14,977 to €8,320
- Financial charges +€275
up €275 (+22.8%), from €1,209 to €1,484
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €47,353 | €11,330 | -€36,022 | -76.1% |
| Fixed assets | 21/28 | €20,177 | €8,330 | -€11,847 | -58.7% |
| Tangible fixed assets | 22/27 | €20,177 | €8,330 | -€11,847 | -58.7% |
| Plant, machinery and equipment | 23 | €16,650 | €8,330 | -€8,320 | -50.0% |
| Furniture and vehicles | 24 | €3,527 | - | -€3,527 | |
| Current assets | 29/58 | €27,175 | €3,000 | -€24,175 | -89.0% |
| Stocks and contracts in progress | 3 | €16,972 | - | -€16,972 | |
| Stocks | 30/36 | €16,972 | - | -€16,972 | |
| Amounts receivable within one year | 40/41 | €10,099 | €3,000 | -€7,098 | -70.3% |
| Trade receivables | 40 | €9,300 | €2,519 | -€6,781 | -72.9% |
| Other amounts receivable | 41 | €799 | €481 | -€318 | -39.8% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €105 | - | -€105 | |
| Total equity and liabilities | 10/49 | €47,353 | €11,330 | -€36,022 | -76.1% |
| Equity | 10/15 | -€554 | -€17,795 | -€17,241 | -3111.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,350 | €19,350 | = | 0.0% |
| Non-distributable reserves | 130/1 | €600 | €600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €600 | €600 | = | 0.0% |
| Distributable reserves | 133 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,504 | -€55,745 | -€17,241 | -44.8% |
| Amounts payable | 17/49 | €47,907 | €29,125 | -€18,781 | -39.2% |
| Amounts payable after more than one year | 17 | €10,851 | €842 | -€10,009 | -92.2% |
| Financial debts | 170/4 | €10,851 | €842 | -€10,009 | -92.2% |
| Amounts payable within one year | 42/48 | €37,056 | €28,283 | -€8,772 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €9,833 | €10,009 | +€175 | +1.8% |
| Financial debts | 43 | €8,655 | €9,052 | +€396 | +4.6% |
| Credit institutions | 430/8 | €8,655 | €9,052 | +€396 | +4.6% |
| Trade debts | 44 | €9,625 | €2,918 | -€6,707 | -69.7% |
| Suppliers | 440/4 | €9,625 | €2,918 | -€6,707 | -69.7% |
| Taxes, remuneration and social security | 45 | €546 | €3,543 | +€2,997 | +549.4% |
| Taxes | 450/3 | €546 | €3,543 | +€2,997 | +549.4% |
| Other amounts payable | 47/48 | €8,396 | €2,762 | -€5,634 | -67.1% |
| Non-recurring operating income | 76A | - | €19,613 | +€19,613 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,977 | €8,320 | -€6,658 | -44.5% |
| Other operating charges | 640/8 | €318 | €231 | -€87 | -27.3% |
| Gross operating margin | 9900 | €10,666 | -€7,205 | -€17,872 | |
| Operating profit (loss) | 9901 | -€4,629 | -€15,757 | -€11,127 | -240.4% |
| Financial income | 75/76B | €92 | €0 | -€92 | -99.8% |
| Recurring financial income | 75 | €92 | €0 | -€92 | -99.8% |
| Financial charges | 65/66B | €1,209 | €1,484 | +€275 | +22.8% |
| Recurring financial charges | 65 | €1,209 | €1,484 | +€275 | +22.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,746 | -€17,241 | -€11,495 | -200.0% |
| Profit (loss) for the period | 9904 | -€5,746 | -€17,241 | -€11,495 | -200.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,746 | -€17,241 | -€11,495 | -200.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.