PANACHAI: 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.
PANACHAI
Largest movements
- Cash +€8,584
up €8,584 (+319.0%), from €2,691 to €11,275
mainly Net result for the year (+€11,670) and Depreciation (+€5,336)
- Receivables within one year -€4,137
down €4,137 (-11.5%), from €36,037 to €31,901
of which Trade receivables: -€3,444
- Stocks and contracts +€1,838
up €1,838 (+322.8%), from €569 to €2,407
- Tangible fixed assets -€1,336
down €1,336 (-6.2%), from €21,437 to €20,102
of which Other tangible fixed assets: -€1,541
- Profit (loss) carried forward +€11,670
up €11,670 (+44.4%), from -€26,310 to -€14,639
- Trade debts -€4,029
down €4,029 (-21.6%), from €18,679 to €14,650
- Tax, wage and social debts -€2,534
down €2,534 (-38.0%), from €6,669 to €4,135
of which Remuneration and social security: -€1,700
- Gross operating margin +€5,971
up €5,971 (+49.4%), from €12,085 to €18,055
- Depreciation -€2,282
down €2,282 (-30.0%), from €7,617 to €5,336
- Financial income -€854
no longer reported in 2025 (was €854)
- Financial charges -€319
down €319 (-49.8%), from €641 to €322
- Other operating charges -€277
down €277 (-27.6%), from €1,004 to €727
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 | €61,030 | €65,775 | +€4,745 | +7.8% |
| Fixed assets | 21/28 | €21,527 | €20,192 | -€1,336 | -6.2% |
| Tangible fixed assets | 22/27 | €21,437 | €20,102 | -€1,336 | -6.2% |
| Plant, machinery and equipment | 23 | €8,990 | €9,528 | +€538 | +6.0% |
| Furniture and vehicles | 24 | €427 | €93 | -€333 | -78.1% |
| Other tangible fixed assets | 26 | €12,021 | €10,481 | -€1,541 | -12.8% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €39,503 | €45,583 | +€6,080 | +15.4% |
| Stocks and contracts in progress | 3 | €569 | €2,407 | +€1,838 | +322.8% |
| Stocks | 30/36 | €569 | €2,407 | +€1,838 | +322.8% |
| Amounts receivable within one year | 40/41 | €36,037 | €31,901 | -€4,137 | -11.5% |
| Trade receivables | 40 | €8,468 | €5,024 | -€3,444 | -40.7% |
| Other amounts receivable | 41 | €27,570 | €26,876 | -€693 | -2.5% |
| Cash at bank and in hand | 54/58 | €2,691 | €11,275 | +€8,584 | +319.0% |
| Deferred charges and accrued income | 490/1 | €206 | - | -€206 | |
| Total equity and liabilities | 10/49 | €61,030 | €65,775 | +€4,745 | +7.8% |
| Equity | 10/15 | €25,290 | €36,961 | +€11,670 | +46.1% |
| Contributions | 10/11 | €51,600 | €51,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,310 | -€14,639 | +€11,670 | +44.4% |
| Amounts payable | 17/49 | €35,740 | €28,814 | -€6,926 | -19.4% |
| Amounts payable within one year | 42/48 | €33,140 | €26,214 | -€6,926 | -20.9% |
| Trade debts | 44 | €18,679 | €14,650 | -€4,029 | -21.6% |
| Suppliers | 440/4 | €18,679 | €14,650 | -€4,029 | -21.6% |
| Taxes, remuneration and social security | 45 | €6,669 | €4,135 | -€2,534 | -38.0% |
| Taxes | 450/3 | €4,969 | €4,135 | -€834 | -16.8% |
| Remuneration and social security | 454/9 | €1,700 | - | -€1,700 | |
| Other amounts payable | 47/48 | €7,793 | €7,429 | -€363 | -4.7% |
| Accrued charges and deferred income | 492/3 | €2,600 | €2,600 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,617 | €5,336 | -€2,282 | -30.0% |
| Other operating charges | 640/8 | €1,004 | €727 | -€277 | -27.6% |
| Gross operating margin | 9900 | €12,085 | €18,055 | +€5,971 | +49.4% |
| Operating profit (loss) | 9901 | €3,464 | €11,993 | +€8,529 | +246.2% |
| Financial income | 75/76B | €854 | - | -€854 | |
| Recurring financial income | 75 | €854 | - | -€854 | |
| Financial charges | 65/66B | €641 | €322 | -€319 | -49.8% |
| Recurring financial charges | 65 | €641 | €322 | -€319 | -49.8% |
| Profit (loss) for the period before taxes | 9903 | €3,677 | €11,670 | +€7,994 | +217.4% |
| Profit (loss) for the period | 9904 | €3,677 | €11,670 | +€7,994 | +217.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,677 | €11,670 | +€7,994 | +217.4% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.