Immo De Panne: 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.
Immo De Panne
Largest movements
- Receivables within one year -€37,238
down €37,238 (-37.2%), from €100,011 to €62,773
of which Trade receivables: -€39,928
- Cash +€28,777
up €28,777 (+57.7%), from €49,902 to €78,679
mainly Receivables within one year (+€37,238) and Depreciation (+€33,596)
- Tangible fixed assets -€23,627
down €23,627 (-16.5%), from €143,001 to €119,374
of which Plant, machinery and equipment: -€12,245
- Debts after one year -€16,958
no longer reported in 2025 (was €16,958)
- Tax, wage and social debts -€11,398
down €11,398 (-39.7%), from €28,679 to €17,282
of which Taxes: -€13,158
- Reserves -€11,320
down €11,320 (-5.8%), from €194,222 to €182,902
of which Distributable reserves: -€11,320
- Other debts +€6,840
up €6,840 (+138%), from €4,967 to €11,807
- Staff costs +€31,347
up €31,347 (+47.7%), from €65,702 to €97,049
- Gross operating margin -€3,575
down €3,575 (-2.2%), from €161,389 to €157,814
- Depreciation +€2,439
up €2,439 (+7.8%), from €31,157 to €33,596
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 | €297,961 | €266,674 | -€31,286 | -10.5% |
| Fixed assets | 21/28 | €146,274 | €122,647 | -€23,627 | -16.2% |
| Tangible fixed assets | 22/27 | €143,001 | €119,374 | -€23,627 | -16.5% |
| Land and buildings | 22 | €13,616 | €11,077 | -€2,539 | -18.6% |
| Plant, machinery and equipment | 23 | €59,946 | €47,700 | -€12,245 | -20.4% |
| Furniture and vehicles | 24 | €32,746 | €31,242 | -€1,504 | -4.6% |
| Leasing and similar rights | 25 | €36,693 | €29,354 | -€7,339 | -20.0% |
| Financial fixed assets | 28 | €3,274 | €3,274 | = | 0.0% |
| Current assets | 29/58 | €151,686 | €144,027 | -€7,659 | -5.0% |
| Amounts receivable within one year | 40/41 | €100,011 | €62,773 | -€37,238 | -37.2% |
| Trade receivables | 40 | €100,011 | €60,083 | -€39,928 | -39.9% |
| Other amounts receivable | 41 | - | €2,690 | +€2,690 | |
| Cash at bank and in hand | 54/58 | €49,902 | €78,679 | +€28,777 | +57.7% |
| Deferred charges and accrued income | 490/1 | €1,773 | €2,575 | +€802 | +45.3% |
| Total equity and liabilities | 10/49 | €297,961 | €266,674 | -€31,286 | -10.5% |
| Equity | 10/15 | €225,288 | €213,995 | -€11,293 | -5.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €194,222 | €182,902 | -€11,320 | -5.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €173,612 | €162,292 | -€11,320 | -6.5% |
| Profit (loss) carried forward | 14 | €18,665 | €18,693 | +€27 | +0.1% |
| Amounts payable | 17/49 | €72,673 | €52,680 | -€19,993 | -27.5% |
| Amounts payable after more than one year | 17 | €16,958 | - | -€16,958 | |
| Financial debts | 170/4 | €16,958 | - | -€16,958 | |
| Amounts payable within one year | 42/48 | €55,715 | €50,832 | -€4,883 | -8.8% |
| Current portion of amounts payable after more than one year | 42 | €16,778 | €16,958 | +€180 | +1.1% |
| Trade debts | 44 | €5,291 | €4,785 | -€505 | -9.6% |
| Suppliers | 440/4 | €5,291 | €4,785 | -€505 | -9.6% |
| Taxes, remuneration and social security | 45 | €28,679 | €17,282 | -€11,398 | -39.7% |
| Taxes | 450/3 | €25,403 | €12,245 | -€13,158 | -51.8% |
| Remuneration and social security | 454/9 | €3,276 | €5,036 | +€1,760 | +53.7% |
| Other amounts payable | 47/48 | €4,967 | €11,807 | +€6,840 | +138% |
| Accrued charges and deferred income | 492/3 | - | €1,848 | +€1,848 | |
| Remuneration, social security and pensions | 62 | €65,702 | €97,049 | +€31,347 | +47.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,157 | €33,596 | +€2,439 | +7.8% |
| Other operating charges | 640/8 | €4,535 | €4,566 | +€32 | +0.7% |
| Gross operating margin | 9900 | €161,389 | €157,814 | -€3,575 | -2.2% |
| Operating profit (loss) | 9901 | €59,996 | €22,604 | -€37,392 | -62.3% |
| Financial income | 75/76B | €1,623 | €266 | -€1,358 | -83.6% |
| Recurring financial income | 75 | €1,623 | €266 | -€1,358 | -83.6% |
| Financial charges | 65/66B | €838 | €632 | -€206 | -24.6% |
| Recurring financial charges | 65 | €838 | €632 | -€206 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €60,781 | €22,237 | -€38,543 | -63.4% |
| Income taxes | 67/77 | €6,496 | €7,310 | +€814 | +12.5% |
| Profit (loss) for the period | 9904 | €54,284 | €14,927 | -€39,357 | -72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €54,284 | €14,927 | -€39,357 | -72.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.