PALISADE: 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.
PALISADE
Largest movements
- Cash +€8,072
up €8,072 (+54.1%), from €14,920 to €22,992
mainly Depreciation (+€9,877) and Stocks and contracts (+€1,816)
- Tangible fixed assets -€5,026
down €5,026 (-17.8%), from €28,174 to €23,148
of which Other tangible fixed assets: -€5,653
- Stocks and contracts -€1,816
down €1,816 (-21.0%), from €8,657 to €6,841
- Deferred charges and accrued income -€769
down €769 (-33.0%), from €2,329 to €1,560
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€11,448
down €11,448 (-49.6%), from €23,101 to €11,653
- Depreciation +€440
up €440 (+4.7%), from €9,437 to €9,877
- Financial income +€278
up €278 (+46.8%), from €593 to €871
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 | €71,409 | €71,606 | +€197 | +0.3% |
| Fixed assets | 21/28 | €28,174 | €23,148 | -€5,026 | -17.8% |
| Tangible fixed assets | 22/27 | €28,174 | €23,148 | -€5,026 | -17.8% |
| Plant, machinery and equipment | 23 | €18,728 | €20,286 | +€1,558 | +8.3% |
| Furniture and vehicles | 24 | €2,951 | €2,020 | -€931 | -31.5% |
| Other tangible fixed assets | 26 | €6,495 | €842 | -€5,653 | -87.0% |
| Current assets | 29/58 | €43,235 | €48,458 | +€5,223 | +12.1% |
| Stocks and contracts in progress | 3 | €8,657 | €6,841 | -€1,816 | -21.0% |
| Stocks | 30/36 | €8,657 | €6,841 | -€1,816 | -21.0% |
| Amounts receivable within one year | 40/41 | €17,329 | €17,065 | -€264 | -1.5% |
| Trade receivables | 40 | - | €408 | +€408 | |
| Other amounts receivable | 41 | €17,329 | €16,657 | -€672 | -3.9% |
| Cash at bank and in hand | 54/58 | €14,920 | €22,992 | +€8,072 | +54.1% |
| Deferred charges and accrued income | 490/1 | €2,329 | €1,560 | -€769 | -33.0% |
| Total equity and liabilities | 10/49 | €71,409 | €71,606 | +€197 | +0.3% |
| Equity | 10/15 | €70,097 | €70,802 | +€705 | +1.0% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Outside capital | 11 | €19,000 | - | -€19,000 | |
| Other | 1109/19 | €19,000 | - | -€19,000 | |
| Reserves | 13 | €51,097 | €51,802 | +€705 | +1.4% |
| Non-distributable reserves | 130/1 | €6,820 | €6,820 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,820 | €6,820 | = | 0.0% |
| Distributable reserves | 133 | €44,277 | €44,982 | +€705 | +1.6% |
| Amounts payable | 17/49 | €1,312 | €804 | -€508 | -38.7% |
| Amounts payable within one year | 42/48 | €1,312 | €804 | -€508 | -38.7% |
| Trade debts | 44 | €459 | €425 | -€34 | -7.3% |
| Suppliers | 440/4 | €459 | €425 | -€34 | -7.3% |
| Taxes, remuneration and social security | 45 | €853 | €379 | -€474 | -55.6% |
| Taxes | 450/3 | €853 | €379 | -€474 | -55.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,437 | €9,877 | +€440 | +4.7% |
| Other operating charges | 640/8 | €1,784 | €1,730 | -€54 | -3.1% |
| Gross operating margin | 9900 | €23,101 | €11,653 | -€11,448 | -49.6% |
| Operating profit (loss) | 9901 | €11,880 | €47 | -€11,833 | -99.6% |
| Financial income | 75/76B | €593 | €871 | +€278 | +46.8% |
| Recurring financial income | 75 | €593 | €871 | +€278 | +46.8% |
| Financial charges | 65/66B | €200 | €212 | +€12 | +6.0% |
| Recurring financial charges | 65 | €200 | €212 | +€12 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | €12,273 | €706 | -€11,567 | -94.3% |
| Profit (loss) for the period | 9904 | €12,273 | €706 | -€11,567 | -94.3% |
| Profit (loss) for the period to be appropriated | 9905 | €12,273 | €706 | -€11,567 | -94.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.