PAN STUDIO: 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 STUDIO
Largest movements
- Cash +€23,500
up €23,500 (+172.5%), from €13,623 to €37,123
mainly Receivables within one year (+€11,460) and Depreciation (+€7,198)
- Receivables within one year -€11,460
down €11,460 (-58.1%), from €19,734 to €8,274
of which Trade receivables: -€12,090
- Tangible fixed assets -€6,758
down €6,758 (-55.5%), from €12,175 to €5,417
of which Plant, machinery and equipment: -€6,436
- Tax, wage and social debts +€3,822
up €3,822 (+194.7%), from €1,963 to €5,786
of which Taxes: +€3,833
- Trade debts +€3,218
up €3,218 (+54.0%), from €5,963 to €9,180
- Profit (loss) carried forward -€3,102
down €3,102 (-663.0%), from -€468 to -€3,570
- Other debts +€734
up €734 (+2.9%), from €25,283 to €26,017
- Gross operating margin +€2,162
up €2,162 (+86.0%), from €2,514 to €4,676
- Depreciation +€259
up €259 (+3.7%), from €6,939 to €7,198
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 | €47,741 | €52,413 | +€4,672 | +9.8% |
| Formation expenses | 20 | €829 | €389 | -€440 | -53.1% |
| Fixed assets | 21/28 | €13,250 | €6,492 | -€6,758 | -51.0% |
| Tangible fixed assets | 22/27 | €12,175 | €5,417 | -€6,758 | -55.5% |
| Plant, machinery and equipment | 23 | €11,562 | €5,125 | -€6,436 | -55.7% |
| Furniture and vehicles | 24 | €613 | €292 | -€321 | -52.4% |
| Financial fixed assets | 28 | €1,075 | €1,075 | = | 0.0% |
| Current assets | 29/58 | €33,662 | €45,532 | +€11,870 | +35.3% |
| Amounts receivable within one year | 40/41 | €19,734 | €8,274 | -€11,460 | -58.1% |
| Trade receivables | 40 | €19,734 | €7,644 | -€12,090 | -61.3% |
| Other amounts receivable | 41 | - | €630 | +€630 | |
| Cash at bank and in hand | 54/58 | €13,623 | €37,123 | +€23,500 | +172.5% |
| Deferred charges and accrued income | 490/1 | €306 | €135 | -€171 | -55.9% |
| Total equity and liabilities | 10/49 | €47,741 | €52,413 | +€4,672 | +9.8% |
| Equity | 10/15 | €14,532 | €11,430 | -€3,102 | -21.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€468 | -€3,570 | -€3,102 | -663.0% |
| Amounts payable | 17/49 | €33,209 | €40,983 | +€7,774 | +23.4% |
| Amounts payable within one year | 42/48 | €33,209 | €40,983 | +€7,774 | +23.4% |
| Trade debts | 44 | €5,963 | €9,180 | +€3,218 | +54.0% |
| Suppliers | 440/4 | €5,963 | €9,180 | +€3,218 | +54.0% |
| Taxes, remuneration and social security | 45 | €1,963 | €5,786 | +€3,822 | +194.7% |
| Taxes | 450/3 | €1,952 | €5,786 | +€3,833 | +196.4% |
| Remuneration and social security | 454/9 | €11 | - | -€11 | |
| Other amounts payable | 47/48 | €25,283 | €26,017 | +€734 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,939 | €7,198 | +€259 | +3.7% |
| Other operating charges | 640/8 | €448 | €462 | +€13 | +3.0% |
| Gross operating margin | 9900 | €2,514 | €4,676 | +€2,162 | +86.0% |
| Operating profit (loss) | 9901 | -€4,873 | -€2,983 | +€1,890 | +38.8% |
| Financial income | 75/76B | €0 | €13 | +€13 | +134700.0% |
| Recurring financial income | 75 | €0 | €13 | +€13 | +134700.0% |
| Financial charges | 65/66B | €124 | €132 | +€8 | +6.8% |
| Recurring financial charges | 65 | €124 | €132 | +€8 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,997 | -€3,102 | +€1,895 | +37.9% |
| Profit (loss) for the period | 9904 | -€4,997 | -€3,102 | +€1,895 | +37.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,997 | -€3,102 | +€1,895 | +37.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.