PAN GROUP: 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.
PAN GROUP
Largest movements
- Receivables within one year -€43,170
down €43,170 (-21.5%), from €200,695 to €157,526
of which Trade receivables: -€76,396
- Tangible fixed assets -€23,585
down €23,585 (-19.4%), from €121,501 to €97,916
of which Furniture and vehicles: -€16,811
- Cash -€14,231
down €14,231 (-89.0%), from €15,983 to €1,751
mainly Other debts (-€79,764) and Net result for the year (-€6,291)
- Other debts -€79,764
no longer reported in 2024 (was €79,764)
- Trade debts +€8,967
up €8,967 (+14.4%), from €62,299 to €71,266
- Profit (loss) carried forward -€6,291
down €6,291 (-5.4%), from €116,358 to €110,067
- Debts after one year -€5,908
down €5,908 (-14.5%), from €40,838 to €34,930
- Gross operating margin -€19,232
down €19,232 (-40.7%), from €47,295 to €28,063
- Taxes -€3,717
no longer reported in 2024 (was €3,717)
- Financial charges +€1,683
up €1,683 (+124.3%), from €1,354 to €3,038
- Depreciation +€1,216
up €1,216 (+4.7%), from €25,814 to €27,030
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €340,107 | €257,193 | -€82,915 | -24.4% |
| Fixed assets | 21/28 | €121,501 | €97,916 | -€23,585 | -19.4% |
| Tangible fixed assets | 22/27 | €121,501 | €97,916 | -€23,585 | -19.4% |
| Land and buildings | 22 | €79,799 | €75,244 | -€4,555 | -5.7% |
| Plant, machinery and equipment | 23 | €3,653 | €1,434 | -€2,219 | -60.7% |
| Furniture and vehicles | 24 | €38,049 | €21,238 | -€16,811 | -44.2% |
| Current assets | 29/58 | €218,606 | €159,277 | -€59,329 | -27.1% |
| Amounts receivable within one year | 40/41 | €200,695 | €157,526 | -€43,170 | -21.5% |
| Trade receivables | 40 | €179,134 | €102,738 | -€76,396 | -42.6% |
| Other amounts receivable | 41 | €21,561 | €54,788 | +€33,226 | +154.1% |
| Cash at bank and in hand | 54/58 | €15,983 | €1,751 | -€14,231 | -89.0% |
| Deferred charges and accrued income | 490/1 | €1,928 | - | -€1,928 | |
| Total equity and liabilities | 10/49 | €340,107 | €257,193 | -€82,915 | -24.4% |
| Equity | 10/15 | €122,558 | €116,267 | -€6,291 | -5.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €116,358 | €110,067 | -€6,291 | -5.4% |
| Amounts payable | 17/49 | €217,549 | €140,925 | -€76,624 | -35.2% |
| Amounts payable after more than one year | 17 | €40,838 | €34,930 | -€5,908 | -14.5% |
| Financial debts | 170/4 | €40,838 | €34,930 | -€5,908 | -14.5% |
| Amounts payable within one year | 42/48 | €176,711 | €105,995 | -€70,716 | -40.0% |
| Current portion of amounts payable after more than one year | 42 | €6,317 | €6,397 | +€81 | +1.3% |
| Trade debts | 44 | €62,299 | €71,266 | +€8,967 | +14.4% |
| Suppliers | 440/4 | €62,299 | €71,266 | +€8,967 | +14.4% |
| Taxes, remuneration and social security | 45 | €28,332 | €28,332 | = | 0.0% |
| Taxes | 450/3 | €28,332 | €28,332 | = | 0.0% |
| Other amounts payable | 47/48 | €79,764 | - | -€79,764 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,814 | €27,030 | +€1,216 | +4.7% |
| Other operating charges | 640/8 | €4,682 | €4,287 | -€395 | -8.4% |
| Gross operating margin | 9900 | €47,295 | €28,063 | -€19,232 | -40.7% |
| Operating profit (loss) | 9901 | €16,800 | -€3,253 | -€20,053 | |
| Financial charges | 65/66B | €1,354 | €3,038 | +€1,683 | +124.3% |
| Recurring financial charges | 65 | €1,354 | €3,038 | +€1,683 | +124.3% |
| Profit (loss) for the period before taxes | 9903 | €15,445 | -€6,291 | -€21,736 | |
| Income taxes | 67/77 | €3,717 | - | -€3,717 | |
| Profit (loss) for the period | 9904 | €11,728 | -€6,291 | -€18,019 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,728 | -€6,291 | -€18,019 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.