PALGEN GAETANE: 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.
PALGEN GAETANE
Largest movements
- Tangible fixed assets -€32,720
down €32,720 (-35.9%), from €91,241 to €58,521
- Cash -€32,509
down €32,509 (-19.8%), from €164,161 to €131,652
mainly Net result for the year (-€84,983) and Debts after one year (-€14,982)
- Receivables within one year -€19,979
down €19,979 (-80.1%), from €24,942 to €4,963
- Deferred charges and accrued income -€8,084
down €8,084 (-74.3%), from €10,884 to €2,800
- Profit (loss) carried forward -€84,983
down €84,983 (-267%), from -€31,774 to -€116,757
- Debts after one year -€14,982
down €14,982 (-50.0%), from €29,979 to €14,998
- Other debts +€12,374
up €12,374 (+6.9%), from €178,977 to €191,351
- Current portion of long-term debt -€6,377
down €6,377 (-30.0%), from €21,252 to €14,875
- Financial charges +€37,351
up €37,351 (+1,763%), from €2,119 to €39,469
- Gross operating margin -€16,261
down €16,261, from €3,079 to -€13,182
- Other operating charges -€380
no longer reported in 2025 (was €380)
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 | €291,227 | €197,936 | -€93,292 | -32.0% |
| Fixed assets | 21/28 | €91,241 | €58,521 | -€32,720 | -35.9% |
| Tangible fixed assets | 22/27 | €91,241 | €58,521 | -€32,720 | -35.9% |
| Furniture and vehicles | 24 | €91,241 | €58,521 | -€32,720 | -35.9% |
| Current assets | 29/58 | €199,987 | €139,415 | -€60,572 | -30.3% |
| Amounts receivable within one year | 40/41 | €24,942 | €4,963 | -€19,979 | -80.1% |
| Other amounts receivable | 41 | €24,942 | €4,963 | -€19,979 | -80.1% |
| Cash at bank and in hand | 54/58 | €164,161 | €131,652 | -€32,509 | -19.8% |
| Deferred charges and accrued income | 490/1 | €10,884 | €2,800 | -€8,084 | -74.3% |
| Total equity and liabilities | 10/49 | €291,227 | €197,936 | -€93,292 | -32.0% |
| Equity | 10/15 | €60,976 | -€24,007 | -€84,983 | |
| Contributions | 10/11 | €92,750 | €92,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,774 | -€116,757 | -€84,983 | -267% |
| Amounts payable | 17/49 | €230,252 | €221,943 | -€8,308 | -3.6% |
| Amounts payable after more than one year | 17 | €29,979 | €14,998 | -€14,982 | -50.0% |
| Financial debts | 170/4 | €29,979 | €14,998 | -€14,982 | -50.0% |
| Amounts payable within one year | 42/48 | €200,272 | €206,945 | +€6,673 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €21,252 | €14,875 | -€6,377 | -30.0% |
| Trade debts | 44 | €44 | €720 | +€676 | +1,552% |
| Suppliers | 440/4 | €44 | €720 | +€676 | +1,552% |
| Other amounts payable | 47/48 | €178,977 | €191,351 | +€12,374 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,720 | €32,720 | = | 0.0% |
| Other operating charges | 640/8 | €380 | - | -€380 | |
| Gross operating margin | 9900 | €3,079 | -€13,182 | -€16,261 | |
| Operating profit (loss) | 9901 | -€30,022 | -€45,902 | -€15,881 | -52.9% |
| Financial income | 75/76B | €606 | €608 | +€1 | +0.2% |
| Recurring financial income | 75 | €606 | €608 | +€1 | +0.2% |
| Financial charges | 65/66B | €2,119 | €39,469 | +€37,351 | +1,763% |
| Recurring financial charges | 65 | €2,119 | €39,469 | +€37,351 | +1,763% |
| Profit (loss) for the period before taxes | 9903 | -€31,534 | -€84,764 | -€53,230 | -169% |
| Income taxes | 67/77 | €240 | €219 | -€21 | -8.7% |
| Profit (loss) for the period | 9904 | -€31,774 | -€84,983 | -€53,209 | -167% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,774 | -€84,983 | -€53,209 | -167% |
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 22 October 2026 via checked.be.