PALAZZO EMPIRE: 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.
PALAZZO EMPIRE
Largest movements
- Tangible fixed assets -€15,575
down €15,575 (-18.5%), from €83,981 to €68,406
of which Land and buildings: -€43,404
- Cash +€8,452
up €8,452 (+75.8%), from €11,157 to €19,609
mainly Net result for the year (+€22,252) and Depreciation (+€15,117)
- Other debts -€24,733
down €24,733 (-35.7%), from €69,281 to €44,548
- Profit (loss) carried forward +€22,252
up €22,252 (+1,642%), from €1,355 to €23,607
- Current portion of long-term debt -€4,341
down €4,341 (-26.8%), from €16,176 to €11,835
- Gross operating margin +€18,209
up €18,209 (+46.4%), from €39,284 to €57,493
- Staff costs -€17,029
down €17,029 (-44.1%), from €38,652 to €21,623
- Financial income +€4,635
up €4,635 (+1,197%), from €387 to €5,022
- Depreciation +€1,986
up €1,986 (+15.1%), from €13,131 to €15,117
- Other operating charges +€1,557
up €1,557 (+527%), from €296 to €1,852
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 | €108,450 | €102,278 | -€6,171 | -5.7% |
| Fixed assets | 21/28 | €96,981 | €81,406 | -€15,575 | -16.1% |
| Tangible fixed assets | 22/27 | €83,981 | €68,406 | -€15,575 | -18.5% |
| Land and buildings | 22 | €43,404 | - | -€43,404 | |
| Plant, machinery and equipment | 23 | €10,110 | €7,834 | -€2,276 | -22.5% |
| Furniture and vehicles | 24 | €6,801 | €4,208 | -€2,593 | -38.1% |
| Other tangible fixed assets | 26 | €23,667 | €56,364 | +€32,697 | +138% |
| Financial fixed assets | 28 | €13,000 | €13,000 | = | 0.0% |
| Current assets | 29/58 | €11,469 | €20,872 | +€9,404 | +82.0% |
| Amounts receivable within one year | 40/41 | €312 | €1,263 | +€952 | +305% |
| Trade receivables | 40 | €312 | €1,263 | +€952 | +305% |
| Cash at bank and in hand | 54/58 | €11,157 | €19,609 | +€8,452 | +75.8% |
| Total equity and liabilities | 10/49 | €108,450 | €102,278 | -€6,171 | -5.7% |
| Equity | 10/15 | €13,755 | €36,007 | +€22,252 | +162% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,355 | €23,607 | +€22,252 | +1,642% |
| Amounts payable | 17/49 | €94,695 | €66,271 | -€28,423 | -30.0% |
| Amounts payable within one year | 42/48 | €94,695 | €66,271 | -€28,423 | -30.0% |
| Current portion of amounts payable after more than one year | 42 | €16,176 | €11,835 | -€4,341 | -26.8% |
| Trade debts | 44 | €2,562 | €2,527 | -€35 | -1.4% |
| Suppliers | 440/4 | €2,562 | €2,527 | -€35 | -1.4% |
| Taxes, remuneration and social security | 45 | €6,675 | €7,362 | +€686 | +10.3% |
| Taxes | 450/3 | €6,675 | €7,362 | +€686 | +10.3% |
| Other amounts payable | 47/48 | €69,281 | €44,548 | -€24,733 | -35.7% |
| Remuneration, social security and pensions | 62 | €38,652 | €21,623 | -€17,029 | -44.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,131 | €15,117 | +€1,986 | +15.1% |
| Other operating charges | 640/8 | €296 | €1,852 | +€1,557 | +527% |
| Gross operating margin | 9900 | €39,284 | €57,493 | +€18,209 | +46.4% |
| Operating profit (loss) | 9901 | -€12,795 | €18,901 | +€31,695 | |
| Financial income | 75/76B | €387 | €5,022 | +€4,635 | +1,197% |
| Recurring financial income | 75 | €387 | €5,022 | +€4,635 | +1,197% |
| Financial charges | 65/66B | €1,685 | €1,671 | -€14 | -0.8% |
| Recurring financial charges | 65 | €1,685 | €1,671 | -€14 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | -€14,093 | €22,252 | +€36,344 | |
| Profit (loss) for the period | 9904 | -€14,093 | €22,252 | +€36,344 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,093 | €22,252 | +€36,344 |
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 28 October 2026 via checked.be.