PALANGE: 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.
PALANGE
Largest movements
- Cash +€239,237
up €239,237 (+155%), from €154,466 to €393,703
mainly Receivables within one year (+€171,819) and Net result for the year (+€112,856)
- Receivables within one year -€171,819
down €171,819 (-42.5%), from €403,885 to €232,066
of which Trade receivables: -€175,095
- Tangible fixed assets +€40,988
up €40,988 (+13.3%), from €307,921 to €348,908
of which Furniture and vehicles: +€70,462
- Reserves +€98,756
up €98,756 (+15.9%), from €619,618 to €718,374
- Debts after one year +€30,014
up €30,014 (+61.8%), from €48,557 to €78,572
- Staff costs -€18,538
down €18,538 (-6.3%), from €295,099 to €276,561
- Gross operating margin -€10,515
down €10,515 (-1.9%), from €556,110 to €545,595
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 | €892,540 | €1,007,059 | +€114,519 | +12.8% |
| Fixed assets | 21/28 | €318,411 | €359,990 | +€41,578 | +13.1% |
| Tangible fixed assets | 22/27 | €307,921 | €348,908 | +€40,988 | +13.3% |
| Land and buildings | 22 | €97,718 | €86,791 | -€10,928 | -11.2% |
| Plant, machinery and equipment | 23 | €175,628 | €157,082 | -€18,546 | -10.6% |
| Furniture and vehicles | 24 | €34,574 | €105,036 | +€70,462 | +204% |
| Financial fixed assets | 28 | €10,491 | €11,081 | +€591 | +5.6% |
| Current assets | 29/58 | €574,129 | €647,070 | +€72,941 | +12.7% |
| Amounts receivable within one year | 40/41 | €403,885 | €232,066 | -€171,819 | -42.5% |
| Trade receivables | 40 | €388,586 | €213,491 | -€175,095 | -45.1% |
| Other amounts receivable | 41 | €15,300 | €18,576 | +€3,276 | +21.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €154,466 | €393,703 | +€239,237 | +155% |
| Deferred charges and accrued income | 490/1 | €15,778 | €21,300 | +€5,522 | +35.0% |
| Total equity and liabilities | 10/49 | €892,540 | €1,007,059 | +€114,519 | +12.8% |
| Equity | 10/15 | €712,820 | €810,982 | +€98,162 | +13.8% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €619,618 | €718,374 | +€98,756 | +15.9% |
| Distributable reserves | 133 | €619,618 | €718,374 | +€98,756 | +15.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €3,202 | €2,608 | -€594 | -18.5% |
| Amounts payable | 17/49 | €179,720 | €196,077 | +€16,357 | +9.1% |
| Amounts payable after more than one year | 17 | €48,557 | €78,572 | +€30,014 | +61.8% |
| Financial debts | 170/4 | €48,557 | €78,572 | +€30,014 | +61.8% |
| Amounts payable within one year | 42/48 | €131,163 | €117,505 | -€13,657 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €50,244 | €46,352 | -€3,892 | -7.7% |
| Trade debts | 44 | €45,471 | €50,531 | +€5,060 | +11.1% |
| Suppliers | 440/4 | €45,471 | €50,531 | +€5,060 | +11.1% |
| Taxes, remuneration and social security | 45 | €12,157 | €3,946 | -€8,211 | -67.5% |
| Taxes | 450/3 | €5,554 | €3,946 | -€1,609 | -29.0% |
| Remuneration and social security | 454/9 | €6,602 | €0 | -€6,602 | -100% |
| Other amounts payable | 47/48 | €23,291 | €16,676 | -€6,615 | -28.4% |
| Non-recurring operating income | 76A | €675 | €0 | -€675 | -100% |
| Remuneration, social security and pensions | 62 | €295,099 | €276,561 | -€18,538 | -6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,711 | €99,576 | -€4,135 | -4.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€4,457 | -€4,457 | |
| Other operating charges | 640/8 | €7,224 | €11,814 | +€4,590 | +63.5% |
| Gross operating margin | 9900 | €556,110 | €545,595 | -€10,515 | -1.9% |
| Operating profit (loss) | 9901 | €150,076 | €162,101 | +€12,025 | +8.0% |
| Financial income | 75/76B | €6,920 | €2,002 | -€4,918 | -71.1% |
| Recurring financial income | 75 | €6,920 | €2,002 | -€4,918 | -71.1% |
| Financial charges | 65/66B | €4,072 | €3,664 | -€408 | -10.0% |
| Recurring financial charges | 65 | €4,072 | €3,664 | -€408 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €152,923 | €160,438 | +€7,515 | +4.9% |
| Income taxes | 67/77 | €46,763 | €47,582 | +€819 | +1.8% |
| Profit (loss) for the period | 9904 | €106,160 | €112,856 | +€6,696 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €106,160 | €112,856 | +€6,696 | +6.3% |
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.