PALIN: 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.
PALIN
Largest movements
- Cash +€122,144
up €122,144 (+570.9%), from €21,394 to €143,538
mainly Current investments (+€120,000) and Depreciation (+€51,068)
- Current investments -€120,000
down €120,000 (-100.0%), from €120,000 to €0
- Tangible fixed assets -€27,727
down €27,727 (-6.0%), from €464,861 to €437,134
of which Land and buildings: -€25,347
- Other debts -€20,682
down €20,682 (-7.3%), from €282,999 to €262,317
- Reserves +€11,159
up €11,159 (+4.5%), from €246,390 to €257,549
of which Distributable reserves: +€14,251
- Gross operating margin -€30,759
down €30,759 (-24.7%), from €124,378 to €93,619
- Taxes -€10,056
down €10,056 (-51.8%), from €19,399 to €9,342
- Financial charges +€3,930
up €3,930 (+25.6%), from €15,346 to €19,276
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 | €621,049 | €600,871 | -€20,178 | -3.2% |
| Fixed assets | 21/28 | €464,861 | €437,134 | -€27,727 | -6.0% |
| Tangible fixed assets | 22/27 | €464,861 | €437,134 | -€27,727 | -6.0% |
| Land and buildings | 22 | €457,415 | €432,068 | -€25,347 | -5.5% |
| Plant, machinery and equipment | 23 | €2,131 | €1,754 | -€378 | -17.7% |
| Furniture and vehicles | 24 | €5,314 | €3,312 | -€2,003 | -37.7% |
| Current assets | 29/58 | €156,188 | €163,737 | +€7,549 | +4.8% |
| Amounts receivable within one year | 40/41 | €12,713 | €18,042 | +€5,329 | +41.9% |
| Trade receivables | 40 | €12,352 | €12,788 | +€436 | +3.5% |
| Other amounts receivable | 41 | €361 | €5,254 | +€4,893 | +1354.3% |
| Current investments | 50/53 | €120,000 | €0 | -€120,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €21,394 | €143,538 | +€122,144 | +570.9% |
| Deferred charges and accrued income | 490/1 | €2,081 | €2,157 | +€76 | +3.7% |
| Total equity and liabilities | 10/49 | €621,049 | €600,871 | -€20,178 | -3.2% |
| Equity | 10/15 | €312,390 | €323,549 | +€11,159 | +3.6% |
| Contributions | 10/11 | €66,000 | €66,000 | = | 0.0% |
| Reserves | 13 | €246,390 | €257,549 | +€11,159 | +4.5% |
| Tax-exempt reserves | 132 | €3,092 | €0 | -€3,092 | -100.0% |
| Distributable reserves | 133 | €243,298 | €257,549 | +€14,251 | +5.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €10,000 | €10,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €10,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable | 17/49 | €298,658 | €267,321 | -€31,337 | -10.5% |
| Amounts payable within one year | 42/48 | €298,658 | €267,321 | -€31,337 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €5,974 | €0 | -€5,974 | -100.0% |
| Financial debts | 43 | €682 | €459 | -€223 | -32.7% |
| Credit institutions | 430/8 | €682 | €459 | -€223 | -32.7% |
| Trade debts | 44 | €2,855 | €2,204 | -€651 | -22.8% |
| Suppliers | 440/4 | €2,855 | €2,204 | -€651 | -22.8% |
| Taxes, remuneration and social security | 45 | €6,149 | €2,342 | -€3,807 | -61.9% |
| Taxes | 450/3 | €6,149 | €2,342 | -€3,807 | -61.9% |
| Other amounts payable | 47/48 | €282,999 | €262,317 | -€20,682 | -7.3% |
| Non-recurring operating income | 76A | €1,337 | €0 | -€1,337 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,035 | €51,068 | +€1,033 | +2.1% |
| Other operating charges | 640/8 | €1,976 | €2,038 | +€62 | +3.1% |
| Gross operating margin | 9900 | €124,378 | €93,619 | -€30,759 | -24.7% |
| Operating profit (loss) | 9901 | €72,367 | €40,513 | -€31,853 | -44.0% |
| Financial income | 75/76B | €52 | €930 | +€878 | +1672.7% |
| Recurring financial income | 75 | €52 | €930 | +€878 | +1672.7% |
| Financial charges | 65/66B | €15,346 | €19,276 | +€3,930 | +25.6% |
| Recurring financial charges | 65 | €15,346 | €19,276 | +€3,930 | +25.6% |
| Profit (loss) for the period before taxes | 9903 | €57,073 | €22,167 | -€34,906 | -61.2% |
| Income taxes | 67/77 | €19,399 | €9,342 | -€10,056 | -51.8% |
| Profit (loss) for the period | 9904 | €37,675 | €12,825 | -€24,850 | -66.0% |
| Transfer from tax-exempt reserves | 789 | - | €3,092 | +€3,092 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,675 | €15,917 | -€21,757 | -57.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.