New Panda: 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.
New Panda
Largest movements
- Tangible fixed assets +€12,938
up €12,938 (+20062.4%), from €64 to €13,003
- Receivables within one year -€11,076
down €11,076 (-63.8%), from €17,370 to €6,294
- Cash +€4,422
up €4,422 (+573.6%), from €771 to €5,193
mainly Net result for the year (+€16,362) and Receivables within one year (+€11,076)
- Profit (loss) carried forward +€16,362
up €16,362 (+52.7%), from -€31,027 to -€14,665
- Debts after one year -€6,958
down €6,958 (-100.0%), from €6,958 to €0
- Current portion of long-term debt -€3,246
down €3,246 (-31.8%), from €10,204 to €6,958
- Tax, wage and social debts +€1,150
up €1,150 (+39.9%), from €2,886 to €4,036
- Trade debts -€1,024
down €1,024 (-7.9%), from €12,895 to €11,871
- Gross operating margin +€12,011
up €12,011 (+25.6%), from €46,900 to €58,911
- Depreciation -€9,943
down €9,943 (-90.4%), from €11,004 to €1,062
- Staff costs -€2,672
down €2,672 (-6.2%), from €43,170 to €40,498
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 | €23,106 | €29,390 | +€6,285 | +27.2% |
| Fixed assets | 21/28 | €4,964 | €17,903 | +€12,938 | +260.6% |
| Tangible fixed assets | 22/27 | €64 | €13,003 | +€12,938 | +20062.4% |
| Plant, machinery and equipment | 23 | €64 | €13,003 | +€12,938 | +20062.4% |
| Financial fixed assets | 28 | €4,900 | €4,900 | = | 0.0% |
| Current assets | 29/58 | €18,141 | €11,488 | -€6,653 | -36.7% |
| Amounts receivable within one year | 40/41 | €17,370 | €6,294 | -€11,076 | -63.8% |
| Other amounts receivable | 41 | €17,370 | €6,294 | -€11,076 | -63.8% |
| Cash at bank and in hand | 54/58 | €771 | €5,193 | +€4,422 | +573.6% |
| Total equity and liabilities | 10/49 | €23,106 | €29,390 | +€6,285 | +27.2% |
| Equity | 10/15 | -€9,837 | €6,525 | +€16,362 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,190 | €1,190 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,190 | €1,190 | = | 0.0% |
| Legal reserve | 130 | €1,190 | €1,190 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,027 | -€14,665 | +€16,362 | +52.7% |
| Amounts payable | 17/49 | €32,942 | €22,865 | -€10,077 | -30.6% |
| Amounts payable after more than one year | 17 | €6,958 | €0 | -€6,958 | -100.0% |
| Financial debts | 170/4 | €6,958 | €0 | -€6,958 | -100.0% |
| Amounts payable within one year | 42/48 | €25,984 | €22,865 | -€3,119 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €10,204 | €6,958 | -€3,246 | -31.8% |
| Trade debts | 44 | €12,895 | €11,871 | -€1,024 | -7.9% |
| Suppliers | 440/4 | €12,895 | €11,871 | -€1,024 | -7.9% |
| Taxes, remuneration and social security | 45 | €2,886 | €4,036 | +€1,150 | +39.9% |
| Remuneration and social security | 454/9 | €2,886 | €4,036 | +€1,150 | +39.9% |
| Remuneration, social security and pensions | 62 | €43,170 | €40,498 | -€2,672 | -6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,004 | €1,062 | -€9,943 | -90.4% |
| Other operating charges | 640/8 | €39 | €575 | +€537 | +1390.8% |
| Gross operating margin | 9900 | €46,900 | €58,911 | +€12,011 | +25.6% |
| Operating profit (loss) | 9901 | -€7,313 | €16,775 | +€24,088 | |
| Financial charges | 65/66B | €516 | €413 | -€103 | -19.9% |
| Recurring financial charges | 65 | €516 | €413 | -€103 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,829 | €16,362 | +€24,191 | |
| Profit (loss) for the period | 9904 | -€7,829 | €16,362 | +€24,191 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,829 | €16,362 | +€24,191 |
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 10 October 2026 via checked.be.