PALIO LIMANI: 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.
PALIO LIMANI
Largest movements
- Tangible fixed assets -€6,185
down €6,185 (-13.0%), from €47,486 to €41,302
of which Leasing and similar rights: -€8,099
- Cash -€1,400
down €1,400 (-8.9%), from €15,757 to €14,358
mainly Debts after one year (-€15,701) and Investment in fixed assets (net) (-€9,649)
- Deferred charges and accrued income +€1,261
new in 2025: €1,261
- Debts after one year -€15,701
down €15,701 (-29.1%), from €54,016 to €38,315
- Trade debts +€6,535
up €6,535 (+103%), from €6,347 to €12,882
- Tax, wage and social debts +€2,616
up €2,616 (+35.8%), from €7,308 to €9,923
of which Remuneration and social security: +€3,307
- Profit (loss) carried forward -€1,837
down €1,837 (-31.2%), from -€5,888 to -€7,725
- Current portion of long-term debt +€1,521
up €1,521 (+10.7%), from €14,180 to €15,701
- Gross operating margin -€5,272
down €5,272 (-9.6%), from €54,645 to €49,373
- Depreciation -€709
down €709 (-4.2%), from €16,790 to €16,081
- Staff costs +€594
up €594 (+2.8%), from €21,149 to €21,743
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 | €79,546 | €72,617 | -€6,929 | -8.7% |
| Fixed assets | 21/28 | €51,760 | €45,327 | -€6,432 | -12.4% |
| Intangible fixed assets | 21 | €673 | €426 | -€248 | -36.8% |
| Tangible fixed assets | 22/27 | €47,486 | €41,302 | -€6,185 | -13.0% |
| Plant, machinery and equipment | 23 | €17,994 | €14,486 | -€3,508 | -19.5% |
| Furniture and vehicles | 24 | €9 | €1,036 | +€1,026 | +11,355% |
| Leasing and similar rights | 25 | €28,269 | €20,170 | -€8,099 | -28.6% |
| Other tangible fixed assets | 26 | €1,214 | €5,610 | +€4,396 | +362% |
| Financial fixed assets | 28 | €3,600 | €3,600 | = | 0.0% |
| Current assets | 29/58 | €27,787 | €27,290 | -€497 | -1.8% |
| Stocks and contracts in progress | 3 | €10,000 | €10,000 | = | 0.0% |
| Stocks | 30/36 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,029 | €1,671 | -€358 | -17.6% |
| Trade receivables | 40 | - | €210 | +€210 | |
| Other amounts receivable | 41 | €2,029 | €1,461 | -€568 | -28.0% |
| Cash at bank and in hand | 54/58 | €15,757 | €14,358 | -€1,400 | -8.9% |
| Deferred charges and accrued income | 490/1 | - | €1,261 | +€1,261 | |
| Total equity and liabilities | 10/49 | €79,546 | €72,617 | -€6,929 | -8.7% |
| Equity | 10/15 | -€3,888 | -€5,725 | -€1,837 | -47.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,888 | -€7,725 | -€1,837 | -31.2% |
| Amounts payable | 17/49 | €83,434 | €78,342 | -€5,092 | -6.1% |
| Amounts payable after more than one year | 17 | €54,016 | €38,315 | -€15,701 | -29.1% |
| Financial debts | 170/4 | €54,016 | €38,315 | -€15,701 | -29.1% |
| Amounts payable within one year | 42/48 | €29,418 | €40,027 | +€10,609 | +36.1% |
| Current portion of amounts payable after more than one year | 42 | €14,180 | €15,701 | +€1,521 | +10.7% |
| Trade debts | 44 | €6,347 | €12,882 | +€6,535 | +103% |
| Suppliers | 440/4 | €6,347 | €12,882 | +€6,535 | +103% |
| Taxes, remuneration and social security | 45 | €7,308 | €9,923 | +€2,616 | +35.8% |
| Taxes | 450/3 | €4,358 | €3,667 | -€691 | -15.9% |
| Remuneration and social security | 454/9 | €2,950 | €6,256 | +€3,307 | +112% |
| Other amounts payable | 47/48 | €1,583 | €1,521 | -€63 | -4.0% |
| Remuneration, social security and pensions | 62 | €21,149 | €21,743 | +€594 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,790 | €16,081 | -€709 | -4.2% |
| Other operating charges | 640/8 | €2,784 | €2,664 | -€120 | -4.3% |
| Gross operating margin | 9900 | €54,645 | €49,373 | -€5,272 | -9.6% |
| Operating profit (loss) | 9901 | €13,922 | €8,885 | -€5,037 | -36.2% |
| Financial income | 75/76B | €353 | €638 | +€285 | +80.8% |
| Recurring financial income | 75 | €353 | €638 | +€285 | +80.8% |
| Financial charges | 65/66B | €10,880 | €10,439 | -€442 | -4.1% |
| Recurring financial charges | 65 | €10,880 | €10,439 | -€442 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | €3,394 | -€916 | -€4,310 | |
| Income taxes | 67/77 | €1,326 | €921 | -€406 | -30.6% |
| Profit (loss) for the period | 9904 | €2,068 | -€1,837 | -€3,905 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,068 | -€1,837 | -€3,905 |
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 14 October 2026 via checked.be.