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 +€29,731
up €29,731 (+16.5%), from €180,066 to €209,797
mainly Net result for the year (+€78,892) and Other debts (+€35,289)
- Tangible fixed assets -€14,626
down €14,626 (-32.3%), from €45,351 to €30,725
of which Furniture and vehicles: -€16,647
- Deferred charges and accrued income +€2,581
up €2,581 (+202.4%), from €1,275 to €3,856
- Profit (loss) carried forward -€61,108
down €61,108 (-89.2%), from €68,505 to €7,396
- Other debts +€35,289
up €35,289 (+52.5%), from €67,268 to €102,557
- Tax, wage and social debts +€25,429
up €25,429 (+30.7%), from €82,919 to €108,348
of which Taxes: +€35,522
- Trade debts +€20,266
up €20,266 (+268.7%), from €7,542 to €27,808
- Debts after one year -€2,500
down €2,500 (-50.0%), from €5,000 to €2,500
- Gross operating margin +€14,782
up €14,782 (+6.4%), from €230,445 to €245,227
- Staff costs -€8,976
down €8,976 (-7.5%), from €119,868 to €110,892
- Taxes +€5,652
up €5,652 (+28.0%), from €20,220 to €25,872
- Financial income -€3,179
down €3,179 (-100.0%), from €3,179 to €0
- Other operating charges -€2,899
down €2,899 (-40.8%), from €7,099 to €4,199
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 | €232,234 | €249,610 | +€17,376 | +7.5% |
| Fixed assets | 21/28 | €45,597 | €30,971 | -€14,626 | -32.1% |
| Tangible fixed assets | 22/27 | €45,351 | €30,725 | -€14,626 | -32.3% |
| Plant, machinery and equipment | 23 | €4,744 | €8,685 | +€3,941 | +83.1% |
| Furniture and vehicles | 24 | €38,687 | €22,040 | -€16,647 | -43.0% |
| Other tangible fixed assets | 26 | €1,921 | - | -€1,921 | |
| Financial fixed assets | 28 | €246 | €246 | = | 0.0% |
| Current assets | 29/58 | €186,636 | €218,638 | +€32,002 | +17.1% |
| Stocks and contracts in progress | 3 | €4,015 | €3,614 | -€401 | -10.0% |
| Stocks | 30/36 | €4,015 | €3,614 | -€401 | -10.0% |
| Amounts receivable within one year | 40/41 | €1,281 | €1,371 | +€90 | +7.0% |
| Other amounts receivable | 41 | €1,281 | €1,371 | +€90 | +7.0% |
| Cash at bank and in hand | 54/58 | €180,066 | €209,797 | +€29,731 | +16.5% |
| Deferred charges and accrued income | 490/1 | €1,275 | €3,856 | +€2,581 | +202.4% |
| Total equity and liabilities | 10/49 | €232,234 | €249,610 | +€17,376 | +7.5% |
| Equity | 10/15 | €69,505 | €8,396 | -€61,108 | -87.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,505 | €7,396 | -€61,108 | -89.2% |
| Amounts payable | 17/49 | €162,729 | €241,213 | +€78,484 | +48.2% |
| Amounts payable after more than one year | 17 | €5,000 | €2,500 | -€2,500 | -50.0% |
| Financial debts | 170/4 | €5,000 | €2,500 | -€2,500 | -50.0% |
| Amounts payable within one year | 42/48 | €157,729 | €238,713 | +€80,984 | +51.3% |
| Trade debts | 44 | €7,542 | €27,808 | +€20,266 | +268.7% |
| Suppliers | 440/4 | €7,542 | €27,808 | +€20,266 | +268.7% |
| Taxes, remuneration and social security | 45 | €82,919 | €108,348 | +€25,429 | +30.7% |
| Taxes | 450/3 | €66,982 | €102,504 | +€35,522 | +53.0% |
| Remuneration and social security | 454/9 | €15,936 | €5,844 | -€10,093 | -63.3% |
| Other amounts payable | 47/48 | €67,268 | €102,557 | +€35,289 | +52.5% |
| Remuneration, social security and pensions | 62 | €119,868 | €110,892 | -€8,976 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,965 | €21,993 | +€1,028 | +4.9% |
| Other operating charges | 640/8 | €7,099 | €4,199 | -€2,899 | -40.8% |
| Gross operating margin | 9900 | €230,445 | €245,227 | +€14,782 | +6.4% |
| Operating profit (loss) | 9901 | €82,514 | €108,143 | +€25,629 | +31.1% |
| Financial income | 75/76B | €3,179 | €0 | -€3,179 | -100.0% |
| Recurring financial income | 75 | €3,179 | €0 | -€3,179 | -100.0% |
| Financial charges | 65/66B | €3,507 | €3,379 | -€127 | -3.6% |
| Recurring financial charges | 65 | €3,507 | €3,379 | -€127 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €82,186 | €104,764 | +€22,578 | +27.5% |
| Income taxes | 67/77 | €20,220 | €25,872 | +€5,652 | +28.0% |
| Profit (loss) for the period | 9904 | €61,966 | €78,892 | +€16,926 | +27.3% |
| Profit (loss) for the period to be appropriated | 9905 | €61,966 | €78,892 | +€16,926 | +27.3% |
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 6 October 2026 via checked.be.