PALME D'OR: 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.
PALME D'OR
Largest movements
- Cash -€26,254
down €26,254 (-78.1%), from €33,615 to €7,361
mainly Net result for the year (-€54,626) and Receivables within one year (-€6,082)
- Receivables within one year +€6,082
up €6,082 (+133%), from €4,570 to €10,652
- Stocks and contracts +€1,396
up €1,396 (+75.6%), from €1,847 to €3,243
- Tangible fixed assets -€720
down €720 (-7.0%), from €10,348 to €9,628
of which Furniture and vehicles: -€1,250
- Profit (loss) carried forward -€54,626
down €54,626, from €14,287 to -€40,339
- Trade debts +€34,596
up €34,596 (+558%), from €6,195 to €40,791
- Tax, wage and social debts +€534
up €534 (+5.7%), from €9,438 to €9,972
of which Remuneration and social security: +€9,440
- Gross operating margin -€43,478
down €43,478, from €34,911 to -€8,568
- Staff costs +€41,351
new in 2025: €41,351
- Taxes -€9,061
down €9,061 (-98.1%), from €9,236 to €174
- Other operating charges -€2,820
down €2,820 (-56.6%), from €4,980 to €2,161
- Depreciation +€1,796
up €1,796 (+424%), from €423 to €2,219
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 | €50,380 | €30,885 | -€19,495 | -38.7% |
| Fixed assets | 21/28 | €10,348 | €9,628 | -€720 | -7.0% |
| Tangible fixed assets | 22/27 | €10,348 | €9,628 | -€720 | -7.0% |
| Plant, machinery and equipment | 23 | €5,536 | €6,066 | +€530 | +9.6% |
| Furniture and vehicles | 24 | €4,812 | €3,562 | -€1,250 | -26.0% |
| Current assets | 29/58 | €40,032 | €21,256 | -€18,775 | -46.9% |
| Stocks and contracts in progress | 3 | €1,847 | €3,243 | +€1,396 | +75.6% |
| Stocks | 30/36 | €1,847 | €3,243 | +€1,396 | +75.6% |
| Amounts receivable within one year | 40/41 | €4,570 | €10,652 | +€6,082 | +133% |
| Trade receivables | 40 | €4,570 | €10,652 | +€6,082 | +133% |
| Cash at bank and in hand | 54/58 | €33,615 | €7,361 | -€26,254 | -78.1% |
| Total equity and liabilities | 10/49 | €50,380 | €30,885 | -€19,495 | -38.7% |
| Equity | 10/15 | €34,747 | -€19,879 | -€54,626 | |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,287 | -€40,339 | -€54,626 | |
| Amounts payable | 17/49 | €15,633 | €50,763 | +€35,131 | +225% |
| Amounts payable within one year | 42/48 | €15,633 | €50,763 | +€35,131 | +225% |
| Trade debts | 44 | €6,195 | €40,791 | +€34,596 | +558% |
| Suppliers | 440/4 | €6,195 | €40,791 | +€34,596 | +558% |
| Taxes, remuneration and social security | 45 | €9,438 | €9,972 | +€534 | +5.7% |
| Taxes | 450/3 | €9,438 | €532 | -€8,906 | -94.4% |
| Remuneration and social security | 454/9 | - | €9,440 | +€9,440 | |
| Remuneration, social security and pensions | 62 | - | €41,351 | +€41,351 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €423 | €2,219 | +€1,796 | +424% |
| Other operating charges | 640/8 | €4,980 | €2,161 | -€2,820 | -56.6% |
| Gross operating margin | 9900 | €34,911 | -€8,568 | -€43,478 | |
| Operating profit (loss) | 9901 | €29,507 | -€54,299 | -€83,806 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €152 | €154 | +€1 | +0.7% |
| Recurring financial charges | 65 | €152 | €154 | +€1 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €29,354 | -€54,451 | -€83,806 | |
| Income taxes | 67/77 | €9,236 | €174 | -€9,061 | -98.1% |
| Profit (loss) for the period | 9904 | €20,119 | -€54,626 | -€74,744 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,119 | -€54,626 | -€74,744 |
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 29 October 2026 via checked.be.