Palmaris: 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.
Palmaris
Largest movements
- Tangible fixed assets +€95,980
up €95,980 (+85.1%), from €112,741 to €208,721
of which Furniture and vehicles: +€59,169
- Cash -€33,405
down €33,405 (-42.5%), from €78,690 to €45,285
mainly Investment in fixed assets (net) (-€131,614) and Net result for the year (-€52,037)
- Receivables within one year -€7,182
down €7,182 (-15.1%), from €47,633 to €40,451
of which Trade receivables: -€5,489
- Debts after one year +€85,878
up €85,878 (+79.3%), from €108,347 to €194,225
- Profit (loss) carried forward -€52,037
new in 2025: -€52,037
- Current portion of long-term debt +€16,776
up €16,776 (+91.4%), from €18,357 to €35,133
- Tax, wage and social debts +€5,877
up €5,877 (+20.5%), from €28,632 to €34,509
- Gross operating margin -€73,557
down €73,557, from €71,584 to -€1,972
- Depreciation +€27,252
up €27,252 (+325%), from €8,381 to €35,633
- Taxes -€14,398
down €14,398 (-96.8%), from €14,869 to €471
- Financial charges +€5,179
up €5,179 (+62.7%), from €8,254 to €13,433
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 | €241,237 | €297,054 | +€55,817 | +23.1% |
| Fixed assets | 21/28 | €112,741 | €208,721 | +€95,980 | +85.1% |
| Tangible fixed assets | 22/27 | €112,741 | €208,721 | +€95,980 | +85.1% |
| Plant, machinery and equipment | 23 | €2,476 | €1,975 | -€501 | -20.2% |
| Furniture and vehicles | 24 | €1,922 | €61,091 | +€59,169 | +3,078% |
| Other tangible fixed assets | 26 | €108,342 | €145,655 | +€37,313 | +34.4% |
| Current assets | 29/58 | €128,496 | €88,332 | -€40,163 | -31.3% |
| Stocks and contracts in progress | 3 | - | €1,173 | +€1,173 | |
| Stocks | 30/36 | - | €1,173 | +€1,173 | |
| Amounts receivable within one year | 40/41 | €47,633 | €40,451 | -€7,182 | -15.1% |
| Trade receivables | 40 | €44,800 | €39,311 | -€5,489 | -12.3% |
| Other amounts receivable | 41 | €2,833 | €1,140 | -€1,693 | -59.8% |
| Cash at bank and in hand | 54/58 | €78,690 | €45,285 | -€33,405 | -42.5% |
| Deferred charges and accrued income | 490/1 | €2,173 | €1,424 | -€749 | -34.5% |
| Total equity and liabilities | 10/49 | €241,237 | €297,054 | +€55,817 | +23.1% |
| Equity | 10/15 | €73,508 | €21,471 | -€52,037 | -70.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €68,508 | €68,508 | = | 0.0% |
| Distributable reserves | 133 | €68,508 | €68,508 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€52,037 | -€52,037 | |
| Amounts payable | 17/49 | €167,729 | €275,583 | +€107,854 | +64.3% |
| Amounts payable after more than one year | 17 | €108,347 | €194,225 | +€85,878 | +79.3% |
| Financial debts | 170/4 | €108,347 | €194,225 | +€85,878 | +79.3% |
| Amounts payable within one year | 42/48 | €59,382 | €80,854 | +€21,472 | +36.2% |
| Current portion of amounts payable after more than one year | 42 | €18,357 | €35,133 | +€16,776 | +91.4% |
| Trade debts | 44 | €9,350 | €9,494 | +€144 | +1.5% |
| Suppliers | 440/4 | €9,350 | €9,494 | +€144 | +1.5% |
| Taxes, remuneration and social security | 45 | €28,632 | €34,509 | +€5,877 | +20.5% |
| Taxes | 450/3 | €28,632 | €34,509 | +€5,877 | +20.5% |
| Other amounts payable | 47/48 | €3,044 | €1,718 | -€1,326 | -43.6% |
| Accrued charges and deferred income | 492/3 | - | €504 | +€504 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,381 | €35,633 | +€27,252 | +325% |
| Other operating charges | 640/8 | €619 | €836 | +€216 | +34.9% |
| Gross operating margin | 9900 | €71,584 | -€1,972 | -€73,557 | |
| Operating profit (loss) | 9901 | €62,584 | -€38,441 | -€101,025 | |
| Financial income | 75/76B | €151 | €308 | +€157 | +104% |
| Recurring financial income | 75 | €151 | €308 | +€157 | +104% |
| Financial charges | 65/66B | €8,254 | €13,433 | +€5,179 | +62.7% |
| Recurring financial charges | 65 | €8,254 | €13,433 | +€5,179 | +62.7% |
| Profit (loss) for the period before taxes | 9903 | €54,481 | -€51,567 | -€106,048 | |
| Income taxes | 67/77 | €14,869 | €471 | -€14,398 | -96.8% |
| Profit (loss) for the period | 9904 | €39,612 | -€52,037 | -€91,650 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,612 | -€52,037 | -€91,650 |
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 31 October 2026 via checked.be.