Het Pandschap: 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.
Het Pandschap
Largest movements
- Receivables within one year -€44,323
down €44,323 (-35.3%), from €125,709 to €81,386
of which Trade receivables: -€27,759
- Tangible fixed assets -€38,363
down €38,363 (-6.0%), from €635,808 to €597,444
- Cash +€37,910
up €37,910 (+66.7%), from €56,832 to €94,743
mainly Other debts (+€65,998) and Receivables within one year (+€44,323)
- Other debts +€65,998
up €65,998 (+5,955%), from €1,108 to €67,107
- Accrued charges and deferred income -€58,232
down €58,232 (-74.4%), from €78,232 to €20,000
- Debts after one year -€35,434
down €35,434 (-6.3%), from €565,273 to €529,839
- Trade debts -€19,431
down €19,431 (-56.1%), from €34,616 to €15,185
- Provisions +€8,455
up €8,455 (+47.7%), from €17,724 to €26,180
- Gross operating margin +€22,615
up €22,615 (+14.0%), from €162,092 to €184,707
- Provisions +€16,319
up €16,319, from -€7,864 to €8,455
- Staff costs +€15,347
up €15,347 (+15.2%), from €100,733 to €116,080
- Other operating charges -€3,768
down €3,768 (-39.8%), from €9,469 to €5,701
- Taxes +€2,749
up €2,749, from €0 to €2,749
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 | €825,151 | €785,113 | -€40,039 | -4.9% |
| Fixed assets | 21/28 | €635,808 | €597,444 | -€38,363 | -6.0% |
| Tangible fixed assets | 22/27 | €635,808 | €597,444 | -€38,363 | -6.0% |
| Land and buildings | 22 | €512,969 | €498,783 | -€14,185 | -2.8% |
| Furniture and vehicles | 24 | €451 | €35 | -€416 | -92.2% |
| Leasing and similar rights | 25 | €103,512 | €98,626 | -€4,886 | -4.7% |
| Assets under construction and advance payments | 27 | €18,876 | €0 | -€18,876 | -100% |
| Current assets | 29/58 | €189,344 | €187,668 | -€1,675 | -0.9% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €125,709 | €81,386 | -€44,323 | -35.3% |
| Trade receivables | 40 | €73,600 | €45,841 | -€27,759 | -37.7% |
| Other amounts receivable | 41 | €52,110 | €35,545 | -€16,564 | -31.8% |
| Cash at bank and in hand | 54/58 | €56,832 | €94,743 | +€37,910 | +66.7% |
| Deferred charges and accrued income | 490/1 | €6,802 | €11,540 | +€4,738 | +69.7% |
| Total equity and liabilities | 10/49 | €825,151 | €785,113 | -€40,039 | -4.9% |
| Equity | 10/15 | €82,519 | €85,528 | +€3,009 | +3.6% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,624 | €17,832 | +€3,208 | +21.9% |
| Investment grants | 15 | €61,495 | €61,295 | -€199 | -0.3% |
| Provisions and deferred taxes | 16 | €17,724 | €26,180 | +€8,455 | +47.7% |
| Provisions for liabilities and charges | 160/5 | €17,724 | €26,180 | +€8,455 | +47.7% |
| Major repairs and maintenance | 162 | €17,724 | €26,180 | +€8,455 | +47.7% |
| Amounts payable | 17/49 | €724,908 | €673,406 | -€51,502 | -7.1% |
| Amounts payable after more than one year | 17 | €565,273 | €529,839 | -€35,434 | -6.3% |
| Financial debts | 170/4 | €565,273 | €529,839 | -€35,434 | -6.3% |
| Amounts payable within one year | 42/48 | €81,402 | €123,567 | +€42,164 | +51.8% |
| Current portion of amounts payable after more than one year | 42 | €19,668 | €22,953 | +€3,285 | +16.7% |
| Trade debts | 44 | €34,616 | €15,185 | -€19,431 | -56.1% |
| Suppliers | 440/4 | €34,616 | €15,185 | -€19,431 | -56.1% |
| Taxes, remuneration and social security | 45 | €26,010 | €18,322 | -€7,688 | -29.6% |
| Taxes | 450/3 | €15,123 | €4,416 | -€10,706 | -70.8% |
| Remuneration and social security | 454/9 | €10,888 | €13,906 | +€3,018 | +27.7% |
| Other amounts payable | 47/48 | €1,108 | €67,107 | +€65,998 | +5,955% |
| Accrued charges and deferred income | 492/3 | €78,232 | €20,000 | -€58,232 | -74.4% |
| Remuneration, social security and pensions | 62 | €100,733 | €116,080 | +€15,347 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,629 | €39,457 | -€172 | -0.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€7,864 | €8,455 | +€16,319 | |
| Other operating charges | 640/8 | €9,469 | €5,701 | -€3,768 | -39.8% |
| Non-recurring operating charges | 66A | - | €7,902 | +€7,902 | |
| Gross operating margin | 9900 | €162,092 | €184,707 | +€22,615 | +14.0% |
| Operating profit (loss) | 9901 | €20,124 | €7,113 | -€13,012 | -64.7% |
| Financial income | 75/76B | €7,669 | €7,977 | +€308 | +4.0% |
| Recurring financial income | 75 | €7,669 | €7,977 | +€308 | +4.0% |
| Financial charges | 65/66B | €9,217 | €9,133 | -€84 | -0.9% |
| Recurring financial charges | 65 | €9,217 | €9,133 | -€84 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €18,576 | €5,957 | -€12,620 | -67.9% |
| Income taxes | 67/77 | €0 | €2,749 | +€2,749 | |
| Profit (loss) for the period | 9904 | €18,576 | €3,208 | -€15,368 | -82.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,576 | €3,208 | -€15,368 | -82.7% |
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 20 October 2026 via checked.be.