PAND 19: 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 19
Largest movements
- Cash -€23,841
down €23,841 (-61.2%), from €38,926 to €15,084
mainly Contributions, distributions and other (-€29,548) and Debts after one year (-€25,358)
- Tangible fixed assets -€23,407
down €23,407 (-13.8%), from €169,019 to €145,612
of which Land and buildings: -€18,248
- Receivables within one year -€7,074
down €7,074 (-12.3%), from €57,470 to €50,396
of which Trade receivables: -€17,088
- Contributions -€29,000
down €29,000 (-96.7%), from €30,000 to €1,000
- Debts after one year -€25,358
down €25,358 (-32.0%), from €79,280 to €53,922
- Tax, wage and social debts -€7,499
down €7,499 (-24.1%), from €31,116 to €23,618
- Reserves +€6,214
up €6,214 (+6.3%), from €98,611 to €104,825
- Gross operating margin -€157,714
down €157,714 (-73.0%), from €216,146 to €58,432
- Staff costs -€81,947
down €81,947 (-95.4%), from €85,909 to €3,962
- Taxes -€20,918
down €20,918 (-86.5%), from €24,196 to €3,278
- Depreciation -€2,648
down €2,648 (-6.8%), from €38,811 to €36,162
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €265,590 | €211,806 | -€53,784 | -20.3% |
| Fixed assets | 21/28 | €169,194 | €145,787 | -€23,407 | -13.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €169,019 | €145,612 | -€23,407 | -13.8% |
| Land and buildings | 22 | €151,748 | €133,500 | -€18,248 | -12.0% |
| Plant, machinery and equipment | 23 | €1,208 | €6,473 | +€5,265 | +436% |
| Furniture and vehicles | 24 | €16,063 | €5,639 | -€10,424 | -64.9% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €96,396 | €66,019 | -€30,377 | -31.5% |
| Amounts receivable within one year | 40/41 | €57,470 | €50,396 | -€7,074 | -12.3% |
| Trade receivables | 40 | €39,974 | €22,885 | -€17,088 | -42.7% |
| Other amounts receivable | 41 | €17,497 | €27,511 | +€10,014 | +57.2% |
| Cash at bank and in hand | 54/58 | €38,926 | €15,084 | -€23,841 | -61.2% |
| Deferred charges and accrued income | 490/1 | - | €539 | +€539 | |
| Total equity and liabilities | 10/49 | €265,590 | €211,806 | -€53,784 | -20.3% |
| Equity | 10/15 | €128,611 | €105,825 | -€22,786 | -17.7% |
| Contributions | 10/11 | €30,000 | €1,000 | -€29,000 | -96.7% |
| Reserves | 13 | €98,611 | €104,825 | +€6,214 | +6.3% |
| Distributable reserves | 133 | €98,611 | €104,825 | +€6,214 | +6.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €136,979 | €105,981 | -€30,998 | -22.6% |
| Amounts payable after more than one year | 17 | €79,280 | €53,922 | -€25,358 | -32.0% |
| Financial debts | 170/4 | €79,280 | €53,922 | -€25,358 | -32.0% |
| Amounts payable within one year | 42/48 | €57,698 | €52,058 | -€5,640 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €24,050 | €25,358 | +€1,308 | +5.4% |
| Trade debts | 44 | €2,533 | €3,083 | +€550 | +21.7% |
| Suppliers | 440/4 | €2,533 | €3,083 | +€550 | +21.7% |
| Taxes, remuneration and social security | 45 | €31,116 | €23,618 | -€7,499 | -24.1% |
| Taxes | 450/3 | €31,116 | €23,618 | -€7,499 | -24.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €85,909 | €3,962 | -€81,947 | -95.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,811 | €36,162 | -€2,648 | -6.8% |
| Other operating charges | 640/8 | €3,444 | €3,917 | +€473 | +13.7% |
| Gross operating margin | 9900 | €216,146 | €58,432 | -€157,714 | -73.0% |
| Operating profit (loss) | 9901 | €87,982 | €14,391 | -€73,592 | -83.6% |
| Financial income | 75/76B | €0 | €1,759 | +€1,758 | +390,753% |
| Recurring financial income | 75 | €0 | €1,759 | +€1,758 | +390,753% |
| Financial charges | 65/66B | €7,811 | €6,109 | -€1,702 | -21.8% |
| Recurring financial charges | 65 | €7,811 | €6,109 | -€1,702 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €80,172 | €10,040 | -€70,131 | -87.5% |
| Income taxes | 67/77 | €24,196 | €3,278 | -€20,918 | -86.5% |
| Profit (loss) for the period | 9904 | €55,976 | €6,762 | -€49,213 | -87.9% |
| Profit (loss) for the period to be appropriated | 9905 | €55,976 | €6,762 | -€49,213 | -87.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.