Pallen Properties: 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.
What changed
Pallen Properties
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€156,484
2024 · €261,053-€104,568
Equity
€2.2m
2024 · €2.0m+€156,484
Cash
€27,083
2024 · €26,852+€231
Balance sheet total
€8.4m
2024 · €7.8m+€635,945
Largest movements
Assets
- Stocks and contracts +€505,079
up €505,079 (+7.7%), from €6.6m to €7.1m
- Receivables after one year +€168,782
up €168,782 (+95.7%), from €176,336 to €345,118
Equity and liabilities
- Current portion of long-term debt -€5.2m
down €5.2m (-97.9%), from €5.3m to €112,500
- Short-term financial debts +€5.2m
up €5.2m (+111,903%), from €4,607 to €5.2m
- Advances received +€661,000
new in 2025: €661,000
- Reserves +€156,484
up €156,484 (+8.1%), from €1.9m to €2.1m
of which Distributable reserves: +€156,484
- Tax, wage and social debts -€90,234
down €90,234 (-98.9%), from €91,208 to €973
Income statement
- Gross operating margin -€119,625
down €119,625 (-28.5%), from €420,395 to €300,770
- Write-downs +€47,378
new in 2025: €47,378
- Taxes -€41,700
down €41,700 (-43.6%), from €95,613 to €53,913
- Financial charges -€10,977
down €10,977 (-41.0%), from €26,748 to €15,771
- Other operating charges -€9,690
down €9,690 (-64.7%), from €14,966 to €5,276
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.
Result 2024
€261,053
Gross operating margin
-€119,625
Depreciation
+€1
Write-downs
-€47,378
Other operating charges
+€9,690
Financial income
+€67
Financial charges
+€10,977
Taxes
+€41,700
Result 2025
€156,484
raises the resultlowers the result
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.
From operations
+€67,778
Investment
€0
Financing
-€67,547
Cash 2024
€26,852
From operations (derived)
+€67,778
Net result for the year
+€156,484
Depreciation
+€31,205
Receivables after one year
-€168,782
Stocks and contracts
-€505,079
Smaller working-capital items
+€6,218
Trade debts
-€23,033
Tax, wage and social debts
-€90,234
Advances received
+€661,000
Financing
-€67,547
Debts after one year
-€63,155
Current portion of long-term debt
-€5.2m
Short-term financial debts
+€5.2m
Cash 2025
€27,083
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,799,102 | €8,435,047 | +€635,945 | +8.2% |
| Fixed assets | 21/28 | €945,752 | €914,547 | -€31,205 | -3.3% |
| Tangible fixed assets | 22/27 | €945,752 | €914,547 | -€31,205 | -3.3% |
| Land and buildings | 22 | €942,779 | €912,481 | -€30,298 | -3.2% |
| Furniture and vehicles | 24 | €2,974 | €2,066 | -€908 | -30.5% |
| Current assets | 29/58 | €6,853,349 | €7,520,499 | +€667,150 | +9.7% |
| Amounts receivable after more than one year | 29 | €176,336 | €345,118 | +€168,782 | +95.7% |
| Other amounts receivable | 291 | €176,336 | €345,118 | +€168,782 | +95.7% |
| Stocks and contracts in progress | 3 | €6,585,844 | €7,090,923 | +€505,079 | +7.7% |
| Stocks | 30/36 | €6,585,844 | €7,090,923 | +€505,079 | +7.7% |
| Amounts receivable within one year | 40/41 | €59,583 | €56,151 | -€3,432 | -5.8% |
| Trade receivables | 40 | €59,583 | €52,733 | -€6,850 | -11.5% |
| Other amounts receivable | 41 | - | €3,418 | +€3,418 | |
| Cash at bank and in hand | 54/58 | €26,852 | €27,083 | +€231 | +0.9% |
| Deferred charges and accrued income | 490/1 | €4,735 | €1,225 | -€3,510 | -74.1% |
| Total equity and liabilities | 10/49 | €7,799,102 | €8,435,047 | +€635,945 | +8.2% |
| Equity | 10/15 | €2,013,297 | €2,169,782 | +€156,484 | +7.8% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €1,938,929 | €2,095,414 | +€156,484 | +8.1% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Distributable reserves | 133 | €1,931,492 | €2,087,977 | +€156,484 | +8.1% |
| Amounts payable | 17/49 | €5,785,804 | €6,265,265 | +€479,461 | +8.3% |
| Amounts payable after more than one year | 17 | €392,490 | €329,334 | -€63,155 | -16.1% |
| Financial debts | 170/4 | €178,125 | €65,625 | -€112,500 | -63.2% |
| Other amounts payable | 178/9 | €214,365 | €263,709 | +€49,345 | +23.0% |
| Amounts payable within one year | 42/48 | €5,391,775 | €5,935,116 | +€543,340 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | €5,272,500 | €112,500 | -€5.2m | -97.9% |
| Financial debts | 43 | €4,607 | €5,160,215 | +€5.2m | +111,903% |
| Credit institutions | 430/8 | €4,607 | €5,160,215 | +€5.2m | +111,903% |
| Trade debts | 44 | €23,460 | €427 | -€23,033 | -98.2% |
| Suppliers | 440/4 | €23,460 | €427 | -€23,033 | -98.2% |
| Advances received on contracts in progress | 46 | - | €661,000 | +€661,000 | |
| Taxes, remuneration and social security | 45 | €91,208 | €973 | -€90,234 | -98.9% |
| Taxes | 450/3 | €91,208 | €973 | -€90,234 | -98.9% |
| Accrued charges and deferred income | 492/3 | €1,539 | €815 | -€724 | -47.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,206 | €31,205 | -€1 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €47,378 | +€47,378 | |
| Other operating charges | 640/8 | €14,966 | €5,276 | -€9,690 | -64.7% |
| Gross operating margin | 9900 | €420,395 | €300,770 | -€119,625 | -28.5% |
| Operating profit (loss) | 9901 | €374,222 | €216,910 | -€157,312 | -42.0% |
| Financial income | 75/76B | €9,192 | €9,258 | +€67 | +0.7% |
| Recurring financial income | 75 | €9,192 | €9,258 | +€67 | +0.7% |
| Financial charges | 65/66B | €26,748 | €15,771 | -€10,977 | -41.0% |
| Recurring financial charges | 65 | €26,748 | €15,771 | -€10,977 | -41.0% |
| Profit (loss) for the period before taxes | 9903 | €356,666 | €210,398 | -€146,268 | -41.0% |
| Income taxes | 67/77 | €95,613 | €53,913 | -€41,700 | -43.6% |
| Profit (loss) for the period | 9904 | €261,053 | €156,484 | -€104,568 | -40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €261,053 | €156,484 | -€104,568 | -40.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.