IMMO PANDA: 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.
IMMO PANDA
Largest movements
- Tangible fixed assets -€43,801
down €43,801 (-9.9%), from €442,655 to €398,854
- Other debts -€27,100
down €27,100 (-41.6%), from €65,094 to €37,994
- Debts after one year -€9,329
down €9,329 (-16.3%), from €57,091 to €47,762
- Gross operating margin +€11,560
up €11,560 (+27.0%), from €42,789 to €54,350
- Financial charges +€837
up €837 (+48.5%), from €1,726 to €2,563
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 | €459,121 | €423,259 | -€35,863 | -7.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €442,655 | €398,854 | -€43,801 | -9.9% |
| Tangible fixed assets | 22/27 | €442,655 | €398,854 | -€43,801 | -9.9% |
| Land and buildings | 22 | €442,655 | €398,854 | -€43,801 | -9.9% |
| Current assets | 29/58 | €16,466 | €24,404 | +€7,938 | +48.2% |
| Amounts receivable within one year | 40/41 | €16,444 | €20,632 | +€4,189 | +25.5% |
| Other amounts receivable | 41 | €16,444 | €20,632 | +€4,189 | +25.5% |
| Cash at bank and in hand | 54/58 | €22 | €3,772 | +€3,750 | +16851.8% |
| Total equity and liabilities | 10/49 | €459,121 | €423,259 | -€35,863 | -7.8% |
| Equity | 10/15 | €328,136 | €327,848 | -€288 | -0.1% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,864 | -€72,152 | -€288 | -0.4% |
| Amounts payable | 17/49 | €130,985 | €95,410 | -€35,575 | -27.2% |
| Amounts payable after more than one year | 17 | €57,091 | €47,762 | -€9,329 | -16.3% |
| Financial debts | 170/4 | €57,091 | €47,762 | -€9,329 | -16.3% |
| Amounts payable within one year | 42/48 | €73,894 | €47,649 | -€26,246 | -35.5% |
| Current portion of amounts payable after more than one year | 42 | €8,427 | €9,307 | +€881 | +10.4% |
| Trade debts | 44 | €374 | €348 | -€26 | -7.0% |
| Suppliers | 440/4 | €374 | €348 | -€26 | -7.0% |
| Other amounts payable | 47/48 | €65,094 | €37,994 | -€27,100 | -41.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,801 | €43,801 | = | 0.0% |
| Other operating charges | 640/8 | €9,143 | €9,362 | +€219 | +2.4% |
| Gross operating margin | 9900 | €42,789 | €54,350 | +€11,560 | +27.0% |
| Operating profit (loss) | 9901 | -€10,155 | €1,187 | +€11,342 | |
| Financial income | 75/76B | €844 | €1,089 | +€245 | +29.0% |
| Recurring financial income | 75 | €844 | €1,089 | +€245 | +29.0% |
| Financial charges | 65/66B | €1,726 | €2,563 | +€837 | +48.5% |
| Recurring financial charges | 65 | €1,726 | €2,563 | +€837 | +48.5% |
| Profit (loss) for the period before taxes | 9903 | -€11,037 | -€288 | +€10,750 | +97.4% |
| Profit (loss) for the period | 9904 | -€11,037 | -€288 | +€10,750 | +97.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,037 | -€288 | +€10,750 | +97.4% |
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 29 September 2026 via checked.be.