LE PANISEL: what changed
What changed
LE PANISEL
filed annual accounts (NBB)
Net result for the year
€5,988
2024 · €7,057-€1,069
Equity
€87,337
2024 · €81,349+€5,988
Cash
€1,864
2024 · €7,409-€5,545
Balance sheet total
€590,589
2024 · €607,811-€17,222
Largest movements
Assets
- Tangible fixed assets -€11,677
down €11,677 (-2.0%), from €598,403 to €586,725
Equity and liabilities
- Debts after one year -€15,690
down €15,690 (-9.0%), from €174,263 to €158,573
of which Financial debts: -€15,690
- Profit (loss) carried forward +€7,626
up €7,626, from -€6,184 to €1,442
- Other debts -€7,520
down €7,520 (-2.2%), from €335,510 to €327,990
Income statement
- Gross operating margin -€55,124
down €55,124 (-60.6%), from €90,916 to €35,792
- Staff costs -€53,761
down €53,761 (-86.2%), from €62,391 to €8,630
- Turnover -€47,438
down €47,438 (-52.3%), from €90,711 to €43,273
- Purchases and services -€4,256
down €4,256 (-36.3%), from €11,737 to €7,481
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€7,057
Gross operating margin
-€55,124
Staff costs
+€53,761
Other operating charges
-€263
Financial charges
+€557
Result 2025
€5,988
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€10,145
Investment
€0
Financing
-€15,690
Cash 2024
€7,409
From operations (derived)
+€10,145
Net result for the year
+€5,988
Depreciation
+€11,677
Other debts
-€7,520
Financing
-€15,690
Debts after one year
-€15,690
Current portion of long-term debt
-€0
Cash 2025
€1,864
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €607,811 | €590,589 | -€17,222 | -2.8% |
| Fixed assets | 21/28 | €598,403 | €586,725 | -€11,677 | -2.0% |
| Tangible fixed assets | 22/27 | €598,403 | €586,725 | -€11,677 | -2.0% |
| Land and buildings | 22 | €598,403 | €586,725 | -€11,677 | -2.0% |
| Current assets | 29/58 | €9,409 | €3,864 | -€5,545 | -58.9% |
| Cash at bank and in hand | 54/58 | €7,409 | €1,864 | -€5,545 | -74.8% |
| Deferred charges and accrued income | 490/1 | €2,000 | €2,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €607,811 | €590,589 | -€17,222 | -2.8% |
| Equity | 10/15 | €81,349 | €87,337 | +€5,988 | +7.4% |
| Contributions | 10/11 | €69,500 | €69,500 | = | 0.0% |
| Capital | 10 | €69,500 | €69,500 | = | 0.0% |
| Issued capital | 100 | €69,500 | €69,500 | = | 0.0% |
| Reserves | 13 | €18,033 | €16,395 | -€1,638 | -9.1% |
| Tax-exempt reserves | 132 | €18,033 | €16,395 | -€1,638 | -9.1% |
| Profit (loss) carried forward | 14 | -€6,184 | €1,442 | +€7,626 | |
| Amounts payable | 17/49 | €526,463 | €503,253 | -€23,210 | -4.4% |
| Amounts payable after more than one year | 17 | €174,263 | €158,573 | -€15,690 | -9.0% |
| Financial debts | 170/4 | €32,205 | €16,515 | -€15,690 | -48.7% |
| Other amounts payable | 178/9 | €142,058 | €142,058 | = | 0.0% |
| Amounts payable within one year | 42/48 | €351,200 | €343,680 | -€7,520 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €15,690 | €15,690 | -€0 | 0.0% |
| Other amounts payable | 47/48 | €335,510 | €327,990 | -€7,520 | -2.2% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Turnover | 70 | €90,711 | €43,273 | -€47,438 | -52.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €11,737 | €7,481 | -€4,256 | -36.3% |
| Remuneration, social security and pensions | 62 | €62,391 | €8,630 | -€53,761 | -86.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,677 | €11,677 | = | 0.0% |
| Other operating charges | 640/8 | €7,311 | €7,574 | +€263 | +3.6% |
| Gross operating margin | 9900 | €90,916 | €35,792 | -€55,124 | -60.6% |
| Operating profit (loss) | 9901 | €9,537 | €7,911 | -€1,626 | -17.0% |
| Financial charges | 65/66B | €2,479 | €1,922 | -€557 | -22.5% |
| Recurring financial charges | 65 | €2,479 | €1,922 | -€557 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €7,057 | €5,988 | -€1,069 | -15.1% |
| Profit (loss) for the period | 9904 | €7,057 | €5,988 | -€1,069 | -15.1% |
| Transfer from tax-exempt reserves | 789 | €1,638 | €1,638 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,695 | €7,626 | -€1,069 | -12.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.