PALROW: 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.
PALROW
Largest movements
- Current investments +€68,016
new in 2025: €68,016
- Receivables after one year +€40,627
up €40,627 (+271%), from €15,000 to €55,627
- Cash -€13,270
down €13,270 (-34.3%), from €38,660 to €25,390
mainly Current investments (-€68,016) and Receivables after one year (-€40,627)
- Tangible fixed assets -€7,568
down €7,568 (-17.6%), from €42,979 to €35,411
- Receivables within one year +€4,558
up €4,558 (+32.1%), from €14,218 to €18,776
of which Other amounts receivable: +€2,441
- Reserves +€85,759
up €85,759 (+118%), from €72,667 to €158,425
- Tax, wage and social debts +€8,404
up €8,404 (+31.9%), from €26,334 to €34,738
- Gross operating margin +€12,630
up €12,630 (+11.2%), from €112,932 to €125,562
- Taxes +€7,319
up €7,319 (+36.5%), from €20,026 to €27,345
- Depreciation -€6,171
down €6,171 (-34.9%), from €17,662 to €11,491
- Financial income +€2,663
new in 2025: €2,663
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 | €112,816 | €204,759 | +€91,943 | +81.5% |
| Fixed assets | 21/28 | €42,979 | €35,411 | -€7,568 | -17.6% |
| Tangible fixed assets | 22/27 | €42,979 | €35,411 | -€7,568 | -17.6% |
| Furniture and vehicles | 24 | €42,979 | €35,411 | -€7,568 | -17.6% |
| Current assets | 29/58 | €69,837 | €169,348 | +€99,512 | +142% |
| Amounts receivable after more than one year | 29 | €15,000 | €55,627 | +€40,627 | +271% |
| Other amounts receivable | 291 | €15,000 | €55,627 | +€40,627 | +271% |
| Amounts receivable within one year | 40/41 | €14,218 | €18,776 | +€4,558 | +32.1% |
| Trade receivables | 40 | €14,218 | €16,335 | +€2,118 | +14.9% |
| Other amounts receivable | 41 | - | €2,441 | +€2,441 | |
| Current investments | 50/53 | - | €68,016 | +€68,016 | |
| Cash at bank and in hand | 54/58 | €38,660 | €25,390 | -€13,270 | -34.3% |
| Deferred charges and accrued income | 490/1 | €1,959 | €1,540 | -€420 | -21.4% |
| Total equity and liabilities | 10/49 | €112,816 | €204,759 | +€91,943 | +81.5% |
| Equity | 10/15 | €82,667 | €168,425 | +€85,759 | +104% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €72,667 | €158,425 | +€85,759 | +118% |
| Distributable reserves | 133 | €72,667 | €158,425 | +€85,759 | +118% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €30,149 | €36,334 | +€6,184 | +20.5% |
| Amounts payable within one year | 42/48 | €30,149 | €36,220 | +€6,071 | +20.1% |
| Trade debts | 44 | €1,281 | €623 | -€658 | -51.3% |
| Suppliers | 440/4 | €1,281 | €623 | -€658 | -51.3% |
| Taxes, remuneration and social security | 45 | €26,334 | €34,738 | +€8,404 | +31.9% |
| Taxes | 450/3 | €26,334 | €34,738 | +€8,404 | +31.9% |
| Other amounts payable | 47/48 | €2,534 | €859 | -€1,675 | -66.1% |
| Accrued charges and deferred income | 492/3 | - | €113 | +€113 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,662 | €11,491 | -€6,171 | -34.9% |
| Other operating charges | 640/8 | €1,148 | €858 | -€290 | -25.2% |
| Gross operating margin | 9900 | €112,932 | €125,562 | +€12,630 | +11.2% |
| Operating profit (loss) | 9901 | €94,122 | €113,212 | +€19,091 | +20.3% |
| Financial income | 75/76B | - | €2,663 | +€2,663 | |
| Recurring financial income | 75 | - | €2,663 | +€2,663 | |
| Financial charges | 65/66B | €1,429 | €1,912 | +€484 | +33.8% |
| Recurring financial charges | 65 | €1,429 | €1,912 | +€484 | +33.8% |
| Profit (loss) for the period before taxes | 9903 | €92,693 | €113,963 | +€21,270 | +22.9% |
| Income taxes | 67/77 | €20,026 | €27,345 | +€7,319 | +36.5% |
| Profit (loss) for the period | 9904 | €72,667 | €86,618 | +€13,951 | +19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €72,667 | €86,618 | +€13,951 | +19.2% |
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 18 October 2026 via checked.be.