PALAZZO: 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.
PALAZZO
Largest movements
- Cash +€17,282
up €17,282 (+102.3%), from €16,888 to €34,170
mainly Receivables within one year (+€14,501) and Depreciation (+€9,882)
- Receivables within one year -€14,501
down €14,501 (-43.6%), from €33,270 to €18,769
of which Trade receivables: -€18,822
- Tangible fixed assets -€7,965
down €7,965 (-82.0%), from €9,710 to €1,745
of which Furniture and vehicles: -€8,071
- Stocks and contracts -€5,017
down €5,017 (-38.9%), from €12,882 to €7,865
- Deferred charges and accrued income +€933
up €933 (+41.2%), from €2,263 to €3,197
- Accrued charges and deferred income -€11,482
no longer reported in 2025 (was €11,482)
- Profit (loss) carried forward +€6,036
up €6,036 (+23.0%), from €26,245 to €32,281
- Trade debts -€2,044
down €2,044 (-20.1%), from €10,171 to €8,127
- Tax, wage and social debts -€1,777
down €1,777 (-26.7%), from €6,655 to €4,878
- Purchases and services -€24,281
down €24,281 (-13.6%), from €178,111 to €153,830
- Turnover -€12,983
down €12,983 (-7.0%), from €185,414 to €172,431
- Gross operating margin +€5,881
up €5,881 (+46.2%), from €12,720 to €18,601
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 | €75,013 | €65,746 | -€9,267 | -12.4% |
| Fixed assets | 21/28 | €9,710 | €1,745 | -€7,965 | -82.0% |
| Tangible fixed assets | 22/27 | €9,710 | €1,745 | -€7,965 | -82.0% |
| Plant, machinery and equipment | 23 | €1,639 | €1,745 | +€106 | +6.5% |
| Furniture and vehicles | 24 | €8,071 | - | -€8,071 | |
| Current assets | 29/58 | €65,303 | €64,001 | -€1,302 | -2.0% |
| Stocks and contracts in progress | 3 | €12,882 | €7,865 | -€5,017 | -38.9% |
| Stocks | 30/36 | €12,882 | €7,865 | -€5,017 | -38.9% |
| Amounts receivable within one year | 40/41 | €33,270 | €18,769 | -€14,501 | -43.6% |
| Trade receivables | 40 | €24,743 | €5,921 | -€18,822 | -76.1% |
| Other amounts receivable | 41 | €8,527 | €12,848 | +€4,321 | +50.7% |
| Cash at bank and in hand | 54/58 | €16,888 | €34,170 | +€17,282 | +102.3% |
| Deferred charges and accrued income | 490/1 | €2,263 | €3,197 | +€933 | +41.2% |
| Total equity and liabilities | 10/49 | €75,013 | €65,746 | -€9,267 | -12.4% |
| Equity | 10/15 | €46,705 | €52,741 | +€6,036 | +12.9% |
| 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 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €26,245 | €32,281 | +€6,036 | +23.0% |
| Amounts payable | 17/49 | €28,309 | €13,005 | -€15,303 | -54.1% |
| Amounts payable within one year | 42/48 | €16,826 | €13,005 | -€3,821 | -22.7% |
| Trade debts | 44 | €10,171 | €8,127 | -€2,044 | -20.1% |
| Suppliers | 440/4 | €10,171 | €8,127 | -€2,044 | -20.1% |
| Taxes, remuneration and social security | 45 | €6,655 | €4,878 | -€1,777 | -26.7% |
| Taxes | 450/3 | €6,655 | €4,878 | -€1,777 | -26.7% |
| Accrued charges and deferred income | 492/3 | €11,482 | - | -€11,482 | |
| Turnover | 70 | €185,414 | €172,431 | -€12,983 | -7.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €178,111 | €153,830 | -€24,281 | -13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,622 | €9,882 | -€741 | -7.0% |
| Other operating charges | 640/8 | €645 | €717 | +€72 | +11.1% |
| Gross operating margin | 9900 | €12,720 | €18,601 | +€5,881 | +46.2% |
| Operating profit (loss) | 9901 | €1,452 | €8,003 | +€6,550 | +451.0% |
| Financial income | 75/76B | - | €349 | +€349 | |
| Recurring financial income | 75 | - | €349 | +€349 | |
| Financial charges | 65/66B | €302 | €644 | +€342 | +113.4% |
| Recurring financial charges | 65 | €302 | €644 | +€342 | +113.4% |
| Profit (loss) for the period before taxes | 9903 | €1,151 | €7,707 | +€6,557 | +569.8% |
| Income taxes | 67/77 | €545 | €1,671 | +€1,126 | +206.4% |
| Profit (loss) for the period | 9904 | €605 | €6,036 | +€5,431 | +897.2% |
| Profit (loss) for the period to be appropriated | 9905 | €605 | €6,036 | +€5,431 | +897.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.