PANADUC: 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.
PANADUC
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Profit (loss) carried forward -€8,376
down €8,376, from €7,282 to -€1,094
- Other debts +€8,351
up €8,351 (+97.0%), from €8,613 to €16,964
- Other operating charges +€968
up €968 (+49.8%), from €1,945 to €2,913
- Gross operating margin +€391
up €391 (+7.1%), from -€5,533 to -€5,142
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €96,336 | €96,311 | -€25 | 0.0% |
| Fixed assets | 21/28 | €84,485 | €84,164 | -€321 | -0.4% |
| Tangible fixed assets | 22/27 | €84,464 | €84,143 | -€321 | -0.4% |
| Land and buildings | 22 | €84,143 | €83,822 | -€321 | -0.4% |
| Furniture and vehicles | 24 | €321 | €321 | = | 0.0% |
| Financial fixed assets | 28 | €21 | €21 | = | 0.0% |
| Current assets | 29/58 | €11,852 | €12,148 | +€296 | +2.5% |
| Amounts receivable within one year | 40/41 | €9,874 | €9,874 | = | 0.0% |
| Other amounts receivable | 41 | €9,874 | €9,874 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €1,978 | €2,274 | +€296 | +15.0% |
| Total equity and liabilities | 10/49 | €96,336 | €96,311 | -€25 | 0.0% |
| Equity | 10/15 | €87,723 | €79,347 | -€8,376 | -9.5% |
| Contributions | 10/11 | €73,129 | €73,129 | = | 0.0% |
| Capital | 10 | €73,129 | €73,129 | = | 0.0% |
| Issued capital | 100 | €73,129 | €73,129 | = | 0.0% |
| Reserves | 13 | €7,313 | €7,313 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,313 | €7,313 | = | 0.0% |
| Legal reserve | 130 | €7,313 | €7,313 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,282 | -€1,094 | -€8,376 | |
| Amounts payable | 17/49 | €8,613 | €16,964 | +€8,351 | +97.0% |
| Amounts payable within one year | 42/48 | €8,613 | €16,964 | +€8,351 | +97.0% |
| Other amounts payable | 47/48 | €8,613 | €16,964 | +€8,351 | +97.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €318 | €321 | +€4 | +1.1% |
| Other operating charges | 640/8 | €1,945 | €2,913 | +€968 | +49.8% |
| Gross operating margin | 9900 | -€5,533 | -€5,142 | +€391 | +7.1% |
| Operating profit (loss) | 9901 | -€7,796 | -€8,376 | -€580 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,796 | -€8,376 | -€580 | -7.4% |
| Profit (loss) for the period | 9904 | -€7,796 | -€8,376 | -€580 | -7.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,796 | -€8,376 | -€580 | -7.4% |
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 29 September 2026 via checked.be.