PANACEA: 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.
PANACEA
Largest movements
- Cash -€6
down €6 (-7.9%), from €72 to €66
mainly Net result for the year (-€534)
- Profit (loss) carried forward -€534
down €534 (-3.7%), from -€14,623 to -€15,157
- Other debts +€528
up €528 (+22.5%), from €2,350 to €2,878
- Financial charges +€21
up €21 (+43.2%), from €48 to €69
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 | €264 | €258 | -€6 | -2.2% |
| Current assets | 29/58 | €264 | €258 | -€6 | -2.2% |
| Amounts receivable within one year | 40/41 | €192 | €192 | = | 0.0% |
| Other amounts receivable | 41 | €192 | €192 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €72 | €66 | -€6 | -7.9% |
| Total equity and liabilities | 10/49 | €264 | €258 | -€6 | -2.2% |
| Equity | 10/15 | -€2,086 | -€2,620 | -€534 | -25.6% |
| Contributions | 10/11 | €12,538 | €12,538 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,623 | -€15,157 | -€534 | -3.7% |
| Amounts payable | 17/49 | €2,350 | €2,878 | +€528 | +22.5% |
| Amounts payable within one year | 42/48 | €2,350 | €2,878 | +€528 | +22.5% |
| Other amounts payable | 47/48 | €2,350 | €2,878 | +€528 | +22.5% |
| Gross operating margin | 9900 | -€463 | -€465 | -€2 | -0.4% |
| Operating profit (loss) | 9901 | -€463 | -€465 | -€2 | -0.4% |
| Financial charges | 65/66B | €48 | €69 | +€21 | +43.2% |
| Recurring financial charges | 65 | €48 | €69 | +€21 | +43.2% |
| Profit (loss) for the period before taxes | 9903 | -€511 | -€534 | -€23 | -4.4% |
| Profit (loss) for the period | 9904 | -€511 | -€534 | -€23 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€511 | -€534 | -€23 | -4.4% |
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 1 October 2026 via checked.be.