PALLIETER: 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.
PALLIETER
Largest movements
- Current investments -€317,796
down €317,796 (-46.8%), from €678,619 to €360,823
- Receivables within one year -€208,022
down €208,022 (-98.4%), from €211,392 to €3,370
of which Other amounts receivable: -€209,674
- Receivables after one year -€45,000
down €45,000 (-30.2%), from €149,000 to €104,000
- Cash -€33,154
down €33,154 (-8.7%), from €382,703 to €349,549
mainly Contributions, distributions and other (-€776,286) and Tax, wage and social debts (-€26,862)
- Tangible fixed assets -€24,504
down €24,504 (-6.5%), from €376,349 to €351,845
of which Land and buildings: -€24,093
- Reserves -€581,767
down €581,767 (-35.3%), from €1.6m to €1.1m
- Tax, wage and social debts -€26,862
down €26,862 (-46.7%), from €57,550 to €30,688
of which Taxes: -€15,226
- Current portion of long-term debt -€22,988
no longer reported in 2025 (was €22,988)
- Gross operating margin -€94,164
down €94,164 (-18.4%), from €513,132 to €418,968
- Staff costs -€25,647
down €25,647 (-17.7%), from €144,870 to €119,223
- Taxes -€18,145
down €18,145 (-17.4%), from €104,353 to €86,207
- Depreciation -€15,504
down €15,504 (-36.2%), from €42,858 to €27,354
- Financial income -€6,573
down €6,573 (-28.6%), from €22,962 to €16,390
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,819,004 | €1,185,684 | -€633,320 | -34.8% |
| Fixed assets | 21/28 | €376,349 | €351,845 | -€24,504 | -6.5% |
| Tangible fixed assets | 22/27 | €376,349 | €351,845 | -€24,504 | -6.5% |
| Land and buildings | 22 | €365,952 | €341,859 | -€24,093 | -6.6% |
| Plant, machinery and equipment | 23 | €10,396 | €9,985 | -€411 | -4.0% |
| Current assets | 29/58 | €1,442,655 | €833,839 | -€608,816 | -42.2% |
| Amounts receivable after more than one year | 29 | €149,000 | €104,000 | -€45,000 | -30.2% |
| Other amounts receivable | 291 | €149,000 | €104,000 | -€45,000 | -30.2% |
| Stocks and contracts in progress | 3 | €19,729 | €13,140 | -€6,590 | -33.4% |
| Stocks | 30/36 | €19,729 | €13,140 | -€6,590 | -33.4% |
| Amounts receivable within one year | 40/41 | €211,392 | €3,370 | -€208,022 | -98.4% |
| Trade receivables | 40 | - | €1,652 | +€1,652 | |
| Other amounts receivable | 41 | €211,392 | €1,718 | -€209,674 | -99.2% |
| Current investments | 50/53 | €678,619 | €360,823 | -€317,796 | -46.8% |
| Cash at bank and in hand | 54/58 | €382,703 | €349,549 | -€33,154 | -8.7% |
| Deferred charges and accrued income | 490/1 | €1,211 | €2,957 | +€1,746 | +144% |
| Total equity and liabilities | 10/49 | €1,819,004 | €1,185,684 | -€633,320 | -34.8% |
| Equity | 10/15 | €1,710,859 | €1,129,092 | -€581,767 | -34.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,648,859 | €1,067,092 | -€581,767 | -35.3% |
| Distributable reserves | 133 | €1,648,859 | €1,067,092 | -€581,767 | -35.3% |
| Amounts payable | 17/49 | €108,145 | €56,592 | -€51,553 | -47.7% |
| Amounts payable within one year | 42/48 | €108,145 | €56,592 | -€51,553 | -47.7% |
| Current portion of amounts payable after more than one year | 42 | €22,988 | - | -€22,988 | |
| Trade debts | 44 | €27,607 | €19,035 | -€8,572 | -31.0% |
| Suppliers | 440/4 | €27,607 | €19,035 | -€8,572 | -31.0% |
| Taxes, remuneration and social security | 45 | €57,550 | €30,688 | -€26,862 | -46.7% |
| Taxes | 450/3 | €42,064 | €26,838 | -€15,226 | -36.2% |
| Remuneration and social security | 454/9 | €15,487 | €3,850 | -€11,637 | -75.1% |
| Other amounts payable | 47/48 | - | €6,869 | +€6,869 | |
| Remuneration, social security and pensions | 62 | €144,870 | €119,223 | -€25,647 | -17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,858 | €27,354 | -€15,504 | -36.2% |
| Other operating charges | 640/8 | €7,484 | €4,734 | -€2,751 | -36.8% |
| Gross operating margin | 9900 | €513,132 | €418,968 | -€94,164 | -18.4% |
| Operating profit (loss) | 9901 | €317,919 | €267,657 | -€50,263 | -15.8% |
| Financial income | 75/76B | €22,962 | €16,390 | -€6,573 | -28.6% |
| Recurring financial income | 75 | €22,962 | €16,390 | -€6,573 | -28.6% |
| Financial charges | 65/66B | €3,054 | €3,320 | +€265 | +8.7% |
| Recurring financial charges | 65 | €3,054 | €3,320 | +€265 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | €337,827 | €280,727 | -€57,100 | -16.9% |
| Income taxes | 67/77 | €104,353 | €86,207 | -€18,145 | -17.4% |
| Profit (loss) for the period | 9904 | €233,475 | €194,520 | -€38,955 | -16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €233,475 | €194,520 | -€38,955 | -16.7% |
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 26 October 2026 via checked.be.