Pand 151: 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.
Pand 151
Largest movements
- Receivables within one year -€3,065
down €3,065 (-14.1%), from €21,796 to €18,731
of which Trade receivables: -€1,880
- Cash -€2,606
down €2,606 (-6.8%), from €38,340 to €35,734
mainly Investment in fixed assets (net) (-€7,670) and Net result for the year (-€5,333)
- Tangible fixed assets +€1,202
up €1,202 (+5.4%), from €22,357 to €23,559
of which Land and buildings: +€2,338
- Profit (loss) carried forward -€5,333
down €5,333 (-81.3%), from -€6,556 to -€11,889
- Gross operating margin -€20,054
down €20,054 (-88.0%), from €22,782 to €2,728
- Financial income -€8,402
down €8,402 (-100.0%), from €8,403 to €2
of which Non-recurring financial income: -€8,398
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 | €88,513 | €84,044 | -€4,469 | -5.0% |
| Fixed assets | 21/28 | €28,377 | €29,579 | +€1,202 | +4.2% |
| Tangible fixed assets | 22/27 | €22,357 | €23,559 | +€1,202 | +5.4% |
| Land and buildings | 22 | €6,362 | €8,699 | +€2,338 | +36.7% |
| Plant, machinery and equipment | 23 | €13,389 | €13,327 | -€62 | -0.5% |
| Furniture and vehicles | 24 | €2,607 | €1,534 | -€1,073 | -41.2% |
| Financial fixed assets | 28 | €6,019 | €6,019 | = | 0.0% |
| Current assets | 29/58 | €60,136 | €54,465 | -€5,671 | -9.4% |
| Amounts receivable within one year | 40/41 | €21,796 | €18,731 | -€3,065 | -14.1% |
| Trade receivables | 40 | €17,003 | €15,123 | -€1,880 | -11.1% |
| Other amounts receivable | 41 | €4,793 | €3,608 | -€1,185 | -24.7% |
| Cash at bank and in hand | 54/58 | €38,340 | €35,734 | -€2,606 | -6.8% |
| Total equity and liabilities | 10/49 | €88,513 | €84,044 | -€4,469 | -5.0% |
| Equity | 10/15 | €33,224 | €27,891 | -€5,333 | -16.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €21,181 | €21,181 | = | 0.0% |
| Distributable reserves | 133 | €21,181 | €21,181 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,556 | -€11,889 | -€5,333 | -81.3% |
| Amounts payable | 17/49 | €55,289 | €56,152 | +€864 | +1.6% |
| Amounts payable within one year | 42/48 | €55,289 | €56,152 | +€864 | +1.6% |
| Trade debts | 44 | €22,689 | €22,603 | -€86 | -0.4% |
| Suppliers | 440/4 | €22,689 | €22,603 | -€86 | -0.4% |
| Advances received on contracts in progress | 46 | €21,488 | €21,488 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,969 | €3,494 | +€525 | +17.7% |
| Taxes | 450/3 | €2,969 | €3,494 | +€525 | +17.7% |
| Other amounts payable | 47/48 | €8,142 | €8,567 | +€424 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,600 | €6,468 | -€132 | -2.0% |
| Other operating charges | 640/8 | €769 | €700 | -€68 | -8.9% |
| Gross operating margin | 9900 | €22,782 | €2,728 | -€20,054 | -88.0% |
| Operating profit (loss) | 9901 | €15,414 | -€4,440 | -€19,854 | |
| Financial income | 75/76B | €8,403 | €2 | -€8,402 | -100.0% |
| Recurring financial income | 75 | €5 | €2 | -€4 | -70.8% |
| Non-recurring financial income | 76B | €8,398 | - | -€8,398 | |
| Financial charges | 65/66B | €674 | €894 | +€220 | +32.7% |
| Recurring financial charges | 65 | €674 | €894 | +€220 | +32.7% |
| Profit (loss) for the period before taxes | 9903 | €23,143 | -€5,333 | -€28,476 | |
| Income taxes | 67/77 | €169 | - | -€169 | |
| Profit (loss) for the period | 9904 | €22,974 | -€5,333 | -€28,307 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,974 | -€5,333 | -€28,307 |
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 17 October 2026 via checked.be.