PAND 42: 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 42
Largest movements
- Tangible fixed assets -€9,830
down €9,830 (-7.4%), from €132,132 to €122,302
of which Plant, machinery and equipment: -€6,593
- Receivables within one year -€2,749
down €2,749 (-2.7%), from €101,784 to €99,036
of which Other amounts receivable: -€5,166
- Tax, wage and social debts +€11,766
up €11,766 (+49.9%), from €23,565 to €35,331
of which Remuneration and social security: +€23,142
- Current portion of long-term debt -€10,290
no longer reported in 2024 (was €10,290)
- Debts after one year -€7,332
down €7,332 (-7.6%), from €95,928 to €88,596
- Profit (loss) carried forward -€6,621
new in 2024: -€6,621
- Trade debts -€5,225
down €5,225 (-39.1%), from €13,365 to €8,139
- Staff costs +€22,938
up €22,938 (+39.5%), from €58,105 to €81,043
- Gross operating margin -€20,772
down €20,772 (-16.9%), from €123,207 to €102,435
- Depreciation +€6,052
up €6,052 (+52.1%), from €11,605 to €17,656
- Taxes -€5,943
down €5,943 (-96.5%), from €6,161 to €218
- Financial charges +€3,176
up €3,176 (+90.2%), from €3,520 to €6,696
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 | €273,667 | €261,788 | -€11,879 | -4.3% |
| Fixed assets | 21/28 | €132,132 | €122,302 | -€9,830 | -7.4% |
| Tangible fixed assets | 22/27 | €132,132 | €122,302 | -€9,830 | -7.4% |
| Land and buildings | 22 | €83,904 | €84,974 | +€1,070 | +1.3% |
| Plant, machinery and equipment | 23 | €31,135 | €24,542 | -€6,593 | -21.2% |
| Furniture and vehicles | 24 | €17,093 | €12,786 | -€4,307 | -25.2% |
| Current assets | 29/58 | €141,535 | €139,486 | -€2,049 | -1.4% |
| Stocks and contracts in progress | 3 | €4,279 | €4,186 | -€93 | -2.2% |
| Stocks | 30/36 | €4,279 | €4,186 | -€93 | -2.2% |
| Amounts receivable within one year | 40/41 | €101,784 | €99,036 | -€2,749 | -2.7% |
| Trade receivables | 40 | €303 | €2,720 | +€2,417 | +798% |
| Other amounts receivable | 41 | €101,481 | €96,316 | -€5,166 | -5.1% |
| Cash at bank and in hand | 54/58 | €34,465 | €35,457 | +€992 | +2.9% |
| Deferred charges and accrued income | 490/1 | €1,007 | €807 | -€200 | -19.9% |
| Total equity and liabilities | 10/49 | €273,667 | €261,788 | -€11,879 | -4.3% |
| Equity | 10/15 | €109,525 | €102,904 | -€6,621 | -6.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €79,525 | €79,525 | = | 0.0% |
| Distributable reserves | 133 | €79,525 | €79,525 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€6,621 | -€6,621 | |
| Provisions and deferred taxes | 16 | €2,000 | €2,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €2,000 | €2,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €2,000 | €2,000 | = | 0.0% |
| Amounts payable | 17/49 | €162,143 | €156,884 | -€5,259 | -3.2% |
| Amounts payable after more than one year | 17 | €95,928 | €88,596 | -€7,332 | -7.6% |
| Financial debts | 170/4 | €95,928 | €88,596 | -€7,332 | -7.6% |
| Amounts payable within one year | 42/48 | €66,191 | €63,766 | -€2,425 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €10,290 | - | -€10,290 | |
| Financial debts | 43 | €1,687 | €846 | -€841 | -49.8% |
| Credit institutions | 430/8 | €1,687 | €846 | -€841 | -49.8% |
| Trade debts | 44 | €13,365 | €8,139 | -€5,225 | -39.1% |
| Suppliers | 440/4 | €13,365 | €8,139 | -€5,225 | -39.1% |
| Taxes, remuneration and social security | 45 | €23,565 | €35,331 | +€11,766 | +49.9% |
| Taxes | 450/3 | €12,905 | €1,529 | -€11,376 | -88.2% |
| Remuneration and social security | 454/9 | €10,660 | €33,802 | +€23,142 | +217% |
| Other amounts payable | 47/48 | €17,284 | €19,449 | +€2,166 | +12.5% |
| Accrued charges and deferred income | 492/3 | €24 | €4,522 | +€4,499 | +19,079% |
| Non-recurring operating income | 76A | €33,000 | - | -€33,000 | |
| Remuneration, social security and pensions | 62 | €58,105 | €81,043 | +€22,938 | +39.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,605 | €17,656 | +€6,052 | +52.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €2,000 | - | -€2,000 | |
| Other operating charges | 640/8 | €2,518 | €3,450 | +€932 | +37.0% |
| Gross operating margin | 9900 | €123,207 | €102,435 | -€20,772 | -16.9% |
| Operating profit (loss) | 9901 | €48,980 | €286 | -€48,694 | -99.4% |
| Financial income | 75/76B | €102 | €7 | -€95 | -93.0% |
| Recurring financial income | 75 | €102 | €7 | -€95 | -93.0% |
| Financial charges | 65/66B | €3,520 | €6,696 | +€3,176 | +90.2% |
| Recurring financial charges | 65 | €3,520 | €6,696 | +€3,176 | +90.2% |
| Profit (loss) for the period before taxes | 9903 | €45,562 | -€6,403 | -€51,964 | |
| Income taxes | 67/77 | €6,161 | €218 | -€5,943 | -96.5% |
| Profit (loss) for the period | 9904 | €39,401 | -€6,621 | -€46,021 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,401 | -€6,621 | -€46,021 |
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 25 October 2026 via checked.be.