LADY PANAME: 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.
LADY PANAME
Largest movements
- Cash -€5,828
down €5,828 (-50.9%), from €11,455 to €5,627
mainly Net result for the year (-€10,736) and Receivables within one year (-€4,801)
- Receivables within one year +€4,801
up €4,801 (+248%), from €1,935 to €6,736
of which Trade receivables: +€4,321
- Tangible fixed assets -€2,511
down €2,511 (-38.1%), from €6,583 to €4,072
of which Furniture and vehicles: -€2,030
- Stocks and contracts +€2,480
up €2,480 (+14.5%), from €17,130 to €19,610
- Profit (loss) carried forward -€10,736
down €10,736 (-8.0%), from -€133,937 to -€144,673
- Other debts +€6,669
up €6,669 (+4.7%), from €141,803 to €148,472
- Trade debts +€1,708
up €1,708 (+32.7%), from €5,219 to €6,927
- Tax, wage and social debts +€1,512
up €1,512 (+25.8%), from €5,852 to €7,364
- Gross operating margin +€13,422
up €13,422, from -€10,804 to €2,618
- Staff costs +€7,966
new in 2025: €7,966
- Other operating charges -€506
down €506 (-52.1%), from €972 to €465
- Financial charges +€417
up €417 (+20.6%), from €2,023 to €2,440
- Financial income -€350
down €350 (-92.5%), from €378 to €28
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 | €39,397 | €38,551 | -€846 | -2.1% |
| Fixed assets | 21/28 | €8,877 | €6,456 | -€2,421 | -27.3% |
| Tangible fixed assets | 22/27 | €6,583 | €4,072 | -€2,511 | -38.1% |
| Plant, machinery and equipment | 23 | €3,166 | €2,685 | -€481 | -15.2% |
| Furniture and vehicles | 24 | €3,418 | €1,388 | -€2,030 | -59.4% |
| Financial fixed assets | 28 | €2,294 | €2,384 | +€90 | +3.9% |
| Current assets | 29/58 | €30,520 | €32,095 | +€1,575 | +5.2% |
| Stocks and contracts in progress | 3 | €17,130 | €19,610 | +€2,480 | +14.5% |
| Stocks | 30/36 | €17,130 | €19,610 | +€2,480 | +14.5% |
| Amounts receivable within one year | 40/41 | €1,935 | €6,736 | +€4,801 | +248% |
| Trade receivables | 40 | €1,935 | €6,256 | +€4,321 | +223% |
| Other amounts receivable | 41 | - | €480 | +€480 | |
| Cash at bank and in hand | 54/58 | €11,455 | €5,627 | -€5,828 | -50.9% |
| Deferred charges and accrued income | 490/1 | - | €122 | +€122 | |
| Total equity and liabilities | 10/49 | €39,397 | €38,551 | -€846 | -2.1% |
| Equity | 10/15 | -€113,477 | -€124,213 | -€10,736 | -9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€133,937 | -€144,673 | -€10,736 | -8.0% |
| Amounts payable | 17/49 | €152,874 | €162,764 | +€9,890 | +6.5% |
| Amounts payable within one year | 42/48 | €152,874 | €162,764 | +€9,890 | +6.5% |
| Trade debts | 44 | €5,219 | €6,927 | +€1,708 | +32.7% |
| Suppliers | 440/4 | €5,219 | €6,927 | +€1,708 | +32.7% |
| Taxes, remuneration and social security | 45 | €5,852 | €7,364 | +€1,512 | +25.8% |
| Taxes | 450/3 | €5,852 | €7,364 | +€1,512 | +25.8% |
| Other amounts payable | 47/48 | €141,803 | €148,472 | +€6,669 | +4.7% |
| Remuneration, social security and pensions | 62 | - | €7,966 | +€7,966 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,678 | €2,511 | -€167 | -6.2% |
| Other operating charges | 640/8 | €972 | €465 | -€506 | -52.1% |
| Gross operating margin | 9900 | -€10,804 | €2,618 | +€13,422 | |
| Operating profit (loss) | 9901 | -€14,454 | -€8,324 | +€6,130 | +42.4% |
| Financial income | 75/76B | €378 | €28 | -€350 | -92.5% |
| Recurring financial income | 75 | €378 | €28 | -€350 | -92.5% |
| Financial charges | 65/66B | €2,023 | €2,440 | +€417 | +20.6% |
| Recurring financial charges | 65 | €2,023 | €2,440 | +€417 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | -€16,099 | -€10,736 | +€5,363 | +33.3% |
| Profit (loss) for the period | 9904 | -€16,099 | -€10,736 | +€5,363 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,099 | -€10,736 | +€5,363 | +33.3% |
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 19 October 2026 via checked.be.