Panckoucke: 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.
Panckoucke
Largest movements
- Receivables within one year +€8,513
up €8,513 (+89.3%), from €9,529 to €18,041
of which Trade receivables: +€7,985
- Cash -€2,425
down €2,425 (-15.6%), from €15,584 to €13,159
mainly Receivables within one year (-€8,513) and Trade debts (-€4,752)
- Stocks and contracts +€2,123
up €2,123 (+54.4%), from €3,902 to €6,025
- Reserves +€8,347
up €8,347 (+60.7%), from €13,757 to €22,104
- Other debts +€5,451
up €5,451 (+6,934%), from €79 to €5,530
- Trade debts -€4,752
down €4,752 (-82.6%), from €5,754 to €1,002
- Gross operating margin -€7,273
down €7,273 (-38.9%), from €18,689 to €11,415
- Taxes -€1,349
down €1,349 (-37.4%), from €3,610 to €2,260
- Financial charges -€685
down €685 (-54.4%), from €1,260 to €575
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.
Derived cash bridge
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 | €31,884 | €40,535 | +€8,651 | +27.1% |
| Fixed assets | 21/28 | €2,168 | €2,472 | +€304 | +14.0% |
| Tangible fixed assets | 22/27 | €1,918 | €2,222 | +€304 | +15.9% |
| Plant, machinery and equipment | 23 | €1,918 | €2,222 | +€304 | +15.9% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €29,716 | €38,063 | +€8,347 | +28.1% |
| Stocks and contracts in progress | 3 | €3,902 | €6,025 | +€2,123 | +54.4% |
| Stocks | 30/36 | €3,902 | €6,025 | +€2,123 | +54.4% |
| Amounts receivable within one year | 40/41 | €9,529 | €18,041 | +€8,513 | +89.3% |
| Trade receivables | 40 | €9,529 | €17,514 | +€7,985 | +83.8% |
| Other amounts receivable | 41 | - | €527 | +€527 | |
| Cash at bank and in hand | 54/58 | €15,584 | €13,159 | -€2,425 | -15.6% |
| Deferred charges and accrued income | 490/1 | €701 | €837 | +€136 | +19.4% |
| Total equity and liabilities | 10/49 | €31,884 | €40,535 | +€8,651 | +27.1% |
| Equity | 10/15 | €16,257 | €24,604 | +€8,347 | +51.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €13,757 | €22,104 | +€8,347 | +60.7% |
| Distributable reserves | 133 | €13,757 | €22,104 | +€8,347 | +60.7% |
| Amounts payable | 17/49 | €15,626 | €15,931 | +€304 | +1.9% |
| Amounts payable within one year | 42/48 | €15,626 | €15,931 | +€304 | +1.9% |
| Trade debts | 44 | €5,754 | €1,002 | -€4,752 | -82.6% |
| Suppliers | 440/4 | €5,754 | €1,002 | -€4,752 | -82.6% |
| Taxes, remuneration and social security | 45 | €9,794 | €9,399 | -€395 | -4.0% |
| Taxes | 450/3 | €9,794 | €9,399 | -€395 | -4.0% |
| Other amounts payable | 47/48 | €79 | €5,530 | +€5,451 | +6,934% |
| Remuneration, social security and pensions | 62 | - | €90 | +€90 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72 | €248 | +€176 | +243% |
| Gross operating margin | 9900 | €18,689 | €11,415 | -€7,273 | -38.9% |
| Operating profit (loss) | 9901 | €18,616 | €11,077 | -€7,539 | -40.5% |
| Financial income | 75/76B | €11 | €105 | +€94 | +857% |
| Recurring financial income | 75 | €11 | €105 | +€94 | +857% |
| Financial charges | 65/66B | €1,260 | €575 | -€685 | -54.4% |
| Recurring financial charges | 65 | €1,260 | €575 | -€685 | -54.4% |
| Profit (loss) for the period before taxes | 9903 | €17,367 | €10,607 | -€6,760 | -38.9% |
| Income taxes | 67/77 | €3,610 | €2,260 | -€1,349 | -37.4% |
| Profit (loss) for the period | 9904 | €13,757 | €8,347 | -€5,411 | -39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,757 | €8,347 | -€5,411 | -39.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.