PAN' BENELUX: 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.
PAN' BENELUX
Largest movements
- Cash -€11,834
down €11,834 (-20.1%), from €58,835 to €47,001
mainly Trade debts (-€23,201) and Receivables within one year (-€2,349)
- Receivables within one year +€2,349
up €2,349 (+17.6%), from €13,318 to €15,667
of which Trade receivables: +€7,104
- Deferred charges and accrued income -€1,787
down €1,787 (-90.7%), from €1,971 to €184
- Trade debts -€23,201
down €23,201 (-81.3%), from €28,537 to €5,336
- Profit (loss) carried forward +€10,895
up €10,895 (+40.4%), from €26,987 to €37,882
- Tax, wage and social debts +€1,034
up €1,034, from €0 to €1,034
- Purchases and services +€15,117
up €15,117 (+27.2%), from €55,652 to €70,769
- Gross operating margin +€2,574
up €2,574 (+21.5%), from €11,961 to €14,535
- Financial income -€595
down €595 (-93.8%), from €634 to €39
of which Non-recurring financial income: -€628
- Taxes +€481
up €481 (+15.0%), from €3,199 to €3,679
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 | €74,124 | €62,852 | -€11,272 | -15.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €74,124 | €62,852 | -€11,272 | -15.2% |
| Amounts receivable within one year | 40/41 | €13,318 | €15,667 | +€2,349 | +17.6% |
| Trade receivables | 40 | €8,564 | €15,667 | +€7,104 | +82.9% |
| Other amounts receivable | 41 | €4,755 | €0 | -€4,755 | -100% |
| Cash at bank and in hand | 54/58 | €58,835 | €47,001 | -€11,834 | -20.1% |
| Deferred charges and accrued income | 490/1 | €1,971 | €184 | -€1,787 | -90.7% |
| Total equity and liabilities | 10/49 | €74,124 | €62,852 | -€11,272 | -15.2% |
| Equity | 10/15 | €45,587 | €56,482 | +€10,895 | +23.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,987 | €37,882 | +€10,895 | +40.4% |
| Amounts payable | 17/49 | €28,537 | €6,370 | -€22,167 | -77.7% |
| Amounts payable within one year | 42/48 | €28,537 | €6,370 | -€22,167 | -77.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €28,537 | €5,336 | -€23,201 | -81.3% |
| Suppliers | 440/4 | €28,537 | €5,336 | -€23,201 | -81.3% |
| Taxes, remuneration and social security | 45 | €0 | €1,034 | +€1,034 | |
| Taxes | 450/3 | €0 | €1,034 | +€1,034 | |
| Goods, raw materials, services and sundry goods | 60/61 | €55,652 | €70,769 | +€15,117 | +27.2% |
| Gross operating margin | 9900 | €11,961 | €14,535 | +€2,574 | +21.5% |
| Operating profit (loss) | 9901 | €11,961 | €14,535 | +€2,574 | +21.5% |
| Financial income | 75/76B | €634 | €39 | -€595 | -93.8% |
| Recurring financial income | 75 | €6 | €39 | +€33 | +547% |
| Non-recurring financial income | 76B | €628 | - | -€628 | |
| Financial charges | 65/66B | €142 | €0 | -€142 | -99.9% |
| Recurring financial charges | 65 | €142 | €0 | -€142 | -99.9% |
| Profit (loss) for the period before taxes | 9903 | €12,452 | €14,574 | +€2,121 | +17.0% |
| Income taxes | 67/77 | €3,199 | €3,679 | +€481 | +15.0% |
| Profit (loss) for the period | 9904 | €9,254 | €10,895 | +€1,641 | +17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,254 | €10,895 | +€1,641 | +17.7% |
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 27 October 2026 via checked.be.