PALATE: 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.
PALATE
Largest movements
- Tangible fixed assets +€62,377
up €62,377 (+181.5%), from €34,360 to €96,737
of which Plant, machinery and equipment: +€63,033
- Stocks and contracts +€40,572
up €40,572 (+23.3%), from €174,022 to €214,594
- Cash -€9,547
down €9,547 (-35.1%), from €27,162 to €17,615
mainly Investment in fixed assets (net) (-€83,296) and Stocks and contracts (-€40,572)
- Debts after one year +€53,630
new in 2024: €53,630
- Trade debts +€29,911
up €29,911 (+47.8%), from €62,597 to €92,508
- Profit (loss) carried forward -€15,671
down €15,671 (-10.5%), from €149,690 to €134,019
- Current portion of long-term debt +€9,442
new in 2024: €9,442
- Other debts +€7,508
up €7,508 (+32.7%), from €22,972 to €30,480
- Staff costs +€24,793
up €24,793 (+42.1%), from €58,846 to €83,639
- Gross operating margin -€12,650
down €12,650 (-9.6%), from €131,543 to €118,893
- Depreciation +€7,091
up €7,091 (+51.3%), from €13,828 to €20,919
- Financial charges +€4,789
up €4,789 (+315.1%), from €1,520 to €6,309
- Taxes -€3,672
down €3,672 (-14.2%), from €25,769 to €22,097
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €339,361 | €432,674 | +€93,313 | +27.5% |
| Fixed assets | 21/28 | €42,859 | €105,236 | +€62,377 | +145.5% |
| Tangible fixed assets | 22/27 | €34,360 | €96,737 | +€62,377 | +181.5% |
| Plant, machinery and equipment | 23 | €26,284 | €89,317 | +€63,033 | +239.8% |
| Furniture and vehicles | 24 | €8,076 | €7,420 | -€656 | -8.1% |
| Financial fixed assets | 28 | €8,499 | €8,499 | = | 0.0% |
| Current assets | 29/58 | €296,502 | €327,438 | +€30,936 | +10.4% |
| Stocks and contracts in progress | 3 | €174,022 | €214,594 | +€40,572 | +23.3% |
| Stocks | 30/36 | €174,022 | €214,594 | +€40,572 | +23.3% |
| Amounts receivable within one year | 40/41 | €95,301 | €95,152 | -€149 | -0.2% |
| Trade receivables | 40 | €31,554 | €35,517 | +€3,963 | +12.6% |
| Other amounts receivable | 41 | €63,747 | €59,635 | -€4,112 | -6.5% |
| Cash at bank and in hand | 54/58 | €27,162 | €17,615 | -€9,547 | -35.1% |
| Deferred charges and accrued income | 490/1 | €17 | €77 | +€60 | +352.9% |
| Total equity and liabilities | 10/49 | €339,361 | €432,674 | +€93,313 | +27.5% |
| Equity | 10/15 | €178,607 | €162,936 | -€15,671 | -8.8% |
| Contributions | 10/11 | €10,659 | €10,659 | = | 0.0% |
| Reserves | 13 | €18,258 | €18,258 | = | 0.0% |
| Non-distributable reserves | 130/1 | €18,258 | €18,258 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Own shares acquired | 1312 | €15,159 | €15,159 | = | 0.0% |
| Profit (loss) carried forward | 14 | €149,690 | €134,019 | -€15,671 | -10.5% |
| Amounts payable | 17/49 | €160,754 | €269,738 | +€108,984 | +67.8% |
| Amounts payable after more than one year | 17 | - | €53,630 | +€53,630 | |
| Financial debts | 170/4 | - | €53,630 | +€53,630 | |
| Amounts payable within one year | 42/48 | €160,754 | €216,108 | +€55,354 | +34.4% |
| Current portion of amounts payable after more than one year | 42 | - | €9,442 | +€9,442 | |
| Trade debts | 44 | €62,597 | €92,508 | +€29,911 | +47.8% |
| Suppliers | 440/4 | €62,597 | €92,508 | +€29,911 | +47.8% |
| Advances received on contracts in progress | 46 | €60,787 | €63,168 | +€2,381 | +3.9% |
| Taxes, remuneration and social security | 45 | €14,398 | €20,510 | +€6,112 | +42.5% |
| Taxes | 450/3 | €14,398 | €13,669 | -€729 | -5.1% |
| Remuneration and social security | 454/9 | - | €6,841 | +€6,841 | |
| Other amounts payable | 47/48 | €22,972 | €30,480 | +€7,508 | +32.7% |
| Remuneration, social security and pensions | 62 | €58,846 | €83,639 | +€24,793 | +42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,828 | €20,919 | +€7,091 | +51.3% |
| Other operating charges | 640/8 | €1,013 | €998 | -€15 | -1.5% |
| Non-recurring operating charges | 66A | €553 | €1,891 | +€1,338 | +242.0% |
| Gross operating margin | 9900 | €131,543 | €118,893 | -€12,650 | -9.6% |
| Operating profit (loss) | 9901 | €57,303 | €11,446 | -€45,857 | -80.0% |
| Financial income | 75/76B | €239 | €1,289 | +€1,050 | +439.3% |
| Recurring financial income | 75 | €239 | €1,289 | +€1,050 | +439.3% |
| Financial charges | 65/66B | €1,520 | €6,309 | +€4,789 | +315.1% |
| Recurring financial charges | 65 | €1,520 | €6,309 | +€4,789 | +315.1% |
| Profit (loss) for the period before taxes | 9903 | €56,022 | €6,426 | -€49,596 | -88.5% |
| Income taxes | 67/77 | €25,769 | €22,097 | -€3,672 | -14.2% |
| Profit (loss) for the period | 9904 | €30,253 | -€15,671 | -€45,924 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,253 | -€15,671 | -€45,924 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.