Palmet: what changed
Two fiscal 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.
Palmet
Largest movements
- Tangible fixed assets +€228,624
up €228,624 (+591.4%), from €38,660 to €267,283
of which Land and buildings: +€238,396
- Cash -€41,081
down €41,081 (-30.4%), from €135,273 to €94,192
mainly Investment in fixed assets (net) (-€269,424) and Receivables within one year (-€23,264)
- Receivables within one year +€23,264
up €23,264 (+66.1%), from €35,199 to €58,464
of which Trade receivables: +€19,131
- Reserves +€79,447
up €79,447 (+54.6%), from €145,404 to €224,852
- Debts after one year +€64,792
up €64,792 (+192.8%), from €33,612 to €98,404
- Trade debts +€31,736
up €31,736 (+3606.2%), from €880 to €32,617
- Current portion of long-term debt +€18,072
up €18,072 (+177.2%), from €10,201 to €28,273
- Other debts +€14,062
up €14,062 (+123.5%), from €11,386 to €25,448
- Gross operating margin -€77,202
down €77,202 (-34.3%), from €225,104 to €147,902
- Taxes -€42,015
down €42,015 (-66.8%), from €62,881 to €20,867
- Depreciation +€27,671
up €27,671 (+210.8%), from €13,130 to €40,801
- Financial charges +€3,469
up €3,469 (+125.7%), from €2,759 to €6,228
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.
Cash bridge derived
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 | €213,538 | €423,638 | +€210,100 | +98.4% |
| Fixed assets | 21/28 | €38,660 | €267,283 | +€228,624 | +591.4% |
| Tangible fixed assets | 22/27 | €38,660 | €267,283 | +€228,624 | +591.4% |
| Land and buildings | 22 | - | €238,396 | +€238,396 | |
| Furniture and vehicles | 24 | €38,660 | €28,888 | -€9,772 | -25.3% |
| Current assets | 29/58 | €174,878 | €156,355 | -€18,524 | -10.6% |
| Amounts receivable within one year | 40/41 | €35,199 | €58,464 | +€23,264 | +66.1% |
| Trade receivables | 40 | €30,081 | €49,212 | +€19,131 | +63.6% |
| Other amounts receivable | 41 | €5,119 | €9,252 | +€4,133 | +80.8% |
| Cash at bank and in hand | 54/58 | €135,273 | €94,192 | -€41,081 | -30.4% |
| Deferred charges and accrued income | 490/1 | €4,406 | €3,699 | -€707 | -16.1% |
| Total equity and liabilities | 10/49 | €213,538 | €423,638 | +€210,100 | +98.4% |
| Equity | 10/15 | €150,404 | €229,852 | +€79,447 | +52.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €145,404 | €224,852 | +€79,447 | +54.6% |
| Distributable reserves | 133 | €145,404 | €224,852 | +€79,447 | +54.6% |
| Amounts payable | 17/49 | €63,134 | €193,786 | +€130,653 | +206.9% |
| Amounts payable after more than one year | 17 | €33,612 | €98,404 | +€64,792 | +192.8% |
| Financial debts | 170/4 | €33,612 | €98,404 | +€64,792 | +192.8% |
| Amounts payable within one year | 42/48 | €28,520 | €92,363 | +€63,844 | +223.9% |
| Current portion of amounts payable after more than one year | 42 | €10,201 | €28,273 | +€18,072 | +177.2% |
| Trade debts | 44 | €880 | €32,617 | +€31,736 | +3606.2% |
| Suppliers | 440/4 | €880 | €32,617 | +€31,736 | +3606.2% |
| Taxes, remuneration and social security | 45 | €6,053 | €6,026 | -€27 | -0.4% |
| Taxes | 450/3 | €4,728 | €4,701 | -€27 | -0.6% |
| Remuneration and social security | 454/9 | €1,325 | €1,325 | = | 0.0% |
| Other amounts payable | 47/48 | €11,386 | €25,448 | +€14,062 | +123.5% |
| Accrued charges and deferred income | 492/3 | €1,002 | €3,019 | +€2,017 | +201.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,130 | €40,801 | +€27,671 | +210.8% |
| Other operating charges | 640/8 | €118 | €561 | +€443 | +375.7% |
| Gross operating margin | 9900 | €225,104 | €147,902 | -€77,202 | -34.3% |
| Operating profit (loss) | 9901 | €211,857 | €106,540 | -€105,316 | -49.7% |
| Financial income | 75/76B | €47 | €2 | -€45 | -95.7% |
| Recurring financial income | 75 | €47 | €2 | -€45 | -95.7% |
| Financial charges | 65/66B | €2,759 | €6,228 | +€3,469 | +125.7% |
| Recurring financial charges | 65 | €2,759 | €6,228 | +€3,469 | +125.7% |
| Profit (loss) for the period before taxes | 9903 | €209,145 | €100,314 | -€108,831 | -52.0% |
| Income taxes | 67/77 | €62,881 | €20,867 | -€42,015 | -66.8% |
| Profit (loss) for the period | 9904 | €146,263 | €79,447 | -€66,816 | -45.7% |
| Profit (loss) for the period to be appropriated | 9905 | €146,263 | €79,447 | -€66,816 | -45.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.