PALM: 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.
PALM
Largest movements
- Intangible fixed assets -€10,000
down €10,000 (-17.1%), from €58,329 to €48,329
- Receivables within one year -€9,765
down €9,765 (-73.3%), from €13,329 to €3,564
of which Trade receivables: -€9,708
- Tangible fixed assets -€5,132
down €5,132 (-39.7%), from €12,940 to €7,808
of which Plant, machinery and equipment: -€5,225
- Stocks and contracts +€4,439
up €4,439 (+86.2%), from €5,147 to €9,586
- Financial fixed assets -€2,322
down €2,322 (-15.4%), from €15,050 to €12,728
- Other debts -€14,586
down €14,586 (-11.8%), from €123,622 to €109,035
- Tax, wage and social debts -€6,759
down €6,759 (-12.8%), from €52,935 to €46,176
of which Taxes: -€11,686
- Profit (loss) carried forward -€4,285
down €4,285 (-7.6%), from -€56,518 to -€60,803
- Accrued charges and deferred income +€3,773
up €3,773 (+284%), from €1,329 to €5,102
- Taxes -€39,461
no longer reported in 2025 (was €39,461)
- Purchases and services +€30,650
up €30,650 (+13.6%), from €225,438 to €256,087
- Turnover +€23,597
up €23,597 (+6.9%), from €343,471 to €367,068
- Gross operating margin -€17,386
down €17,386 (-13.5%), from €128,367 to €110,981
- Staff costs +€15,378
up €15,378 (+21.6%), from €71,266 to €86,644
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 | €139,143 | €116,268 | -€22,875 | -16.4% |
| Fixed assets | 21/28 | €86,319 | €68,865 | -€17,454 | -20.2% |
| Intangible fixed assets | 21 | €58,329 | €48,329 | -€10,000 | -17.1% |
| Tangible fixed assets | 22/27 | €12,940 | €7,808 | -€5,132 | -39.7% |
| Plant, machinery and equipment | 23 | €11,703 | €6,478 | -€5,225 | -44.6% |
| Furniture and vehicles | 24 | €1,237 | €1,330 | +€92 | +7.5% |
| Financial fixed assets | 28 | €15,050 | €12,728 | -€2,322 | -15.4% |
| Current assets | 29/58 | €52,824 | €47,403 | -€5,421 | -10.3% |
| Amounts receivable after more than one year | 29 | €19,022 | €19,022 | = | 0.0% |
| Other amounts receivable | 291 | €19,022 | €19,022 | = | 0.0% |
| Stocks and contracts in progress | 3 | €5,147 | €9,586 | +€4,439 | +86.2% |
| Stocks | 30/36 | €5,147 | €9,586 | +€4,439 | +86.2% |
| Amounts receivable within one year | 40/41 | €13,329 | €3,564 | -€9,765 | -73.3% |
| Trade receivables | 40 | €13,221 | €3,513 | -€9,708 | -73.4% |
| Other amounts receivable | 41 | €108 | €51 | -€57 | -53.0% |
| Cash at bank and in hand | 54/58 | €15,326 | €14,646 | -€680 | -4.4% |
| Deferred charges and accrued income | 490/1 | €0 | €585 | +€585 | |
| Total equity and liabilities | 10/49 | €139,143 | €116,268 | -€22,875 | -16.4% |
| Equity | 10/15 | -€55,018 | -€59,303 | -€4,285 | -7.8% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,518 | -€60,803 | -€4,285 | -7.6% |
| Amounts payable | 17/49 | €194,161 | €175,571 | -€18,590 | -9.6% |
| Amounts payable within one year | 42/48 | €192,832 | €170,469 | -€22,363 | -11.6% |
| Trade debts | 44 | €16,275 | €15,258 | -€1,017 | -6.3% |
| Suppliers | 440/4 | €16,275 | €15,258 | -€1,017 | -6.3% |
| Taxes, remuneration and social security | 45 | €52,935 | €46,176 | -€6,759 | -12.8% |
| Taxes | 450/3 | €39,940 | €28,254 | -€11,686 | -29.3% |
| Remuneration and social security | 454/9 | €12,995 | €17,922 | +€4,926 | +37.9% |
| Other amounts payable | 47/48 | €123,622 | €109,035 | -€14,586 | -11.8% |
| Accrued charges and deferred income | 492/3 | €1,329 | €5,102 | +€3,773 | +284% |
| Turnover | 70 | €343,471 | €367,068 | +€23,597 | +6.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €225,438 | €256,087 | +€30,650 | +13.6% |
| Remuneration, social security and pensions | 62 | €71,266 | €86,644 | +€15,378 | +21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,150 | €15,984 | -€167 | -1.0% |
| Other operating charges | 640/8 | €13,517 | €8,640 | -€4,877 | -36.1% |
| Non-recurring operating charges | 66A | €900 | €215 | -€685 | -76.1% |
| Gross operating margin | 9900 | €128,367 | €110,981 | -€17,386 | -13.5% |
| Operating profit (loss) | 9901 | €26,533 | -€501 | -€27,035 | |
| Financial income | 75/76B | €0 | €9 | +€9 | +90,400% |
| Recurring financial income | 75 | €0 | €9 | +€9 | +90,400% |
| Financial charges | 65/66B | €5,227 | €3,793 | -€1,434 | -27.4% |
| Recurring financial charges | 65 | €5,227 | €3,793 | -€1,434 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | €21,306 | -€4,285 | -€25,591 | |
| Income taxes | 67/77 | €39,461 | - | -€39,461 | |
| Profit (loss) for the period | 9904 | -€18,155 | -€4,285 | +€13,870 | +76.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,155 | -€4,285 | +€13,870 | +76.4% |
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 13 October 2026 via checked.be.