PALINCKX: what changed
PALINCKX
Largest movements
- Receivables within one year -€56,545
down €56,545 (-15.8%), from €357,049 to €300,504
of which Trade receivables: -€58,661
- Cash +€47,929
up €47,929 (+203%), from €23,582 to €71,511
mainly Receivables within one year (+€56,545) and Debts after one year (+€49,868)
- Tangible fixed assets -€21,940
down €21,940 (-23.7%), from €92,750 to €70,810
of which Land and buildings: -€16,666
- Short-term financial debts -€70,097
down €70,097 (-43.8%), from €160,097 to €90,000
- Debts after one year +€49,868
up €49,868 (+248%), from €20,110 to €69,978
- Trade debts -€48,849
down €48,849 (-41.5%), from €117,809 to €68,960
- Tax, wage and social debts +€17,465
up €17,465 (+120%), from €14,518 to €31,983
of which Remuneration and social security: +€18,412
- Reserves +€17,357
up €17,357 (+5.9%), from €294,918 to €312,275
- Staff costs +€50,090
up €50,090 (+27.7%), from €181,101 to €231,190
- Taxes -€9,738
down €9,738 (-48.8%), from €19,957 to €10,219
- Financial charges -€6,163
down €6,163 (-27.3%), from €22,539 to €16,376
- Other operating charges -€5,626
down €5,626 (-48.3%), from €11,648 to €6,021
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €663,927 | €629,578 | -€34,349 | -5.2% |
| Fixed assets | 21/28 | €92,750 | €70,810 | -€21,940 | -23.7% |
| Tangible fixed assets | 22/27 | €92,750 | €70,810 | -€21,940 | -23.7% |
| Land and buildings | 22 | €44,495 | €27,829 | -€16,666 | -37.5% |
| Plant, machinery and equipment | 23 | €9,364 | €9,886 | +€521 | +5.6% |
| Furniture and vehicles | 24 | €38,891 | €33,095 | -€5,796 | -14.9% |
| Current assets | 29/58 | €571,176 | €558,768 | -€12,408 | -2.2% |
| Stocks and contracts in progress | 3 | €176,314 | €171,915 | -€4,399 | -2.5% |
| Stocks | 30/36 | €176,314 | €171,915 | -€4,399 | -2.5% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €357,049 | €300,504 | -€56,545 | -15.8% |
| Trade receivables | 40 | €323,447 | €264,786 | -€58,661 | -18.1% |
| Other amounts receivable | 41 | €33,602 | €35,717 | +€2,115 | +6.3% |
| Cash at bank and in hand | 54/58 | €23,582 | €71,511 | +€47,929 | +203% |
| Deferred charges and accrued income | 490/1 | €14,231 | €14,838 | +€607 | +4.3% |
| Total equity and liabilities | 10/49 | €663,927 | €629,578 | -€34,349 | -5.2% |
| Equity | 10/15 | €322,666 | €340,023 | +€17,357 | +5.4% |
| Contributions | 10/11 | €26,029 | €26,029 | = | 0.0% |
| Reserves | 13 | €294,918 | €312,275 | +€17,357 | +5.9% |
| Distributable reserves | 133 | €294,918 | €312,275 | +€17,357 | +5.9% |
| Investment grants | 15 | €1,719 | €1,719 | = | 0.0% |
| Amounts payable | 17/49 | €341,260 | €289,555 | -€51,705 | -15.2% |
| Amounts payable after more than one year | 17 | €20,110 | €69,978 | +€49,868 | +248% |
| Financial debts | 170/4 | €20,110 | €69,978 | +€49,868 | +248% |
| Amounts payable within one year | 42/48 | €308,664 | €219,577 | -€89,088 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | €16,241 | €28,634 | +€12,393 | +76.3% |
| Financial debts | 43 | €160,097 | €90,000 | -€70,097 | -43.8% |
| Credit institutions | 430/8 | €160,097 | €90,000 | -€70,097 | -43.8% |
| Trade debts | 44 | €117,809 | €68,960 | -€48,849 | -41.5% |
| Suppliers | 440/4 | €117,809 | €68,960 | -€48,849 | -41.5% |
| Taxes, remuneration and social security | 45 | €14,518 | €31,983 | +€17,465 | +120% |
| Taxes | 450/3 | €14,518 | €13,571 | -€946 | -6.5% |
| Remuneration and social security | 454/9 | €0 | €18,412 | +€18,412 | |
| Accrued charges and deferred income | 492/3 | €12,486 | €0 | -€12,486 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €181,101 | €231,190 | +€50,090 | +27.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,596 | €37,672 | +€2,076 | +5.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €11,648 | €6,021 | -€5,626 | -48.3% |
| Gross operating margin | 9900 | €317,356 | €317,659 | +€303 | +0.1% |
| Operating profit (loss) | 9901 | €89,011 | €42,775 | -€46,236 | -51.9% |
| Financial income | 75/76B | €2,826 | €1,177 | -€1,649 | -58.4% |
| Recurring financial income | 75 | €2,826 | €1,177 | -€1,649 | -58.4% |
| Financial charges | 65/66B | €22,539 | €16,376 | -€6,163 | -27.3% |
| Recurring financial charges | 65 | €22,539 | €16,376 | -€6,163 | -27.3% |
| Profit (loss) for the period before taxes | 9903 | €69,298 | €27,576 | -€41,722 | -60.2% |
| Income taxes | 67/77 | €19,957 | €10,219 | -€9,738 | -48.8% |
| Profit (loss) for the period | 9904 | €49,341 | €17,357 | -€31,984 | -64.8% |
| Profit (loss) for the period to be appropriated | 9905 | €49,341 | €17,357 | -€31,984 | -64.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.