PALIN: 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.
PALIN
Largest movements
- Receivables within one year -€50,072
down €50,072 (-46.9%), from €106,740 to €56,668
of which Other amounts receivable: -€52,443
- Tangible fixed assets -€1,646
down €1,646 (-26.3%), from €6,266 to €4,621
of which Plant, machinery and equipment: -€2,522
- Profit (loss) carried forward -€39,464
down €39,464 (-40.1%), from -€98,434 to -€137,898
- Debts after one year -€14,183
down €14,183 (-85.2%), from €16,654 to €2,471
- Gross operating margin +€14,013
up €14,013 (+31.9%), from -€43,890 to -€29,877
- Depreciation -€2,887
down €2,887 (-51.5%), from €5,607 to €2,720
- Financial charges +€804
up €804 (+19.7%), from €4,074 to €4,878
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €113,116 | €61,399 | -€51,717 | -45.7% |
| Fixed assets | 21/28 | €6,376 | €4,731 | -€1,646 | -25.8% |
| Tangible fixed assets | 22/27 | €6,266 | €4,621 | -€1,646 | -26.3% |
| Plant, machinery and equipment | 23 | €6,210 | €3,688 | -€2,522 | -40.6% |
| Furniture and vehicles | 24 | €56 | €933 | +€877 | +1,568% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €106,740 | €56,668 | -€50,072 | -46.9% |
| Amounts receivable within one year | 40/41 | €106,740 | €56,668 | -€50,072 | -46.9% |
| Trade receivables | 40 | €3,230 | €5,602 | +€2,372 | +73.4% |
| Other amounts receivable | 41 | €103,510 | €51,066 | -€52,443 | -50.7% |
| Total equity and liabilities | 10/49 | €113,116 | €61,399 | -€51,717 | -45.7% |
| Equity | 10/15 | €54,854 | €15,390 | -€39,464 | -71.9% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €145,788 | €145,788 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,757 | €3,757 | = | 0.0% |
| Distributable reserves | 133 | €140,031 | €140,031 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€98,434 | -€137,898 | -€39,464 | -40.1% |
| Amounts payable | 17/49 | €58,262 | €46,009 | -€12,253 | -21.0% |
| Amounts payable after more than one year | 17 | €16,654 | €2,471 | -€14,183 | -85.2% |
| Financial debts | 170/4 | €16,654 | €2,471 | -€14,183 | -85.2% |
| Amounts payable within one year | 42/48 | €41,607 | €43,538 | +€1,930 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €16,805 | €17,267 | +€461 | +2.7% |
| Financial debts | 43 | €22,631 | €23,273 | +€641 | +2.8% |
| Credit institutions | 430/8 | €22,631 | - | -€22,631 | |
| Other loans | 439 | - | €23,273 | +€23,273 | |
| Trade debts | 44 | €1,227 | €2,023 | +€797 | +65.0% |
| Suppliers | 440/4 | €1,227 | €2,023 | +€797 | +65.0% |
| Taxes, remuneration and social security | 45 | €944 | €975 | +€31 | +3.3% |
| Taxes | 450/3 | €944 | €975 | +€31 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,607 | €2,720 | -€2,887 | -51.5% |
| Other operating charges | 640/8 | €1,309 | €1,504 | +€195 | +14.9% |
| Gross operating margin | 9900 | -€43,890 | -€29,877 | +€14,013 | +31.9% |
| Operating profit (loss) | 9901 | -€50,806 | -€34,102 | +€16,704 | +32.9% |
| Financial charges | 65/66B | €4,074 | €4,878 | +€804 | +19.7% |
| Recurring financial charges | 65 | €4,074 | €4,878 | +€804 | +19.7% |
| Profit (loss) for the period before taxes | 9903 | -€54,880 | -€38,980 | +€15,900 | +29.0% |
| Income taxes | 67/77 | €489 | €484 | -€4 | -0.9% |
| Profit (loss) for the period | 9904 | -€55,368 | -€39,464 | +€15,904 | +28.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,368 | -€39,464 | +€15,904 | +28.7% |
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 17 October 2026 via checked.be.