pand b: 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 b
Largest movements
- Tangible fixed assets -€18,832
down €18,832 (-36.1%), from €52,117 to €33,285
of which Furniture and vehicles: -€18,229
- Cash +€14,030
up €14,030 (+881.6%), from €1,592 to €15,621
mainly Depreciation (+€18,832) and Receivables within one year (+€10,787)
- Receivables within one year -€10,787
down €10,787 (-63.2%), from €17,055 to €6,269
of which Other amounts receivable: -€13,227
- Deferred charges and accrued income +€6,263
up €6,263 (+352.8%), from €1,775 to €8,039
- Debts after one year -€14,159
down €14,159 (-43.6%), from €32,484 to €18,326
- Trade debts +€5,682
up €5,682 (+124.6%), from €4,560 to €10,243
- Profit (loss) carried forward -€4,977
down €4,977 (-59.9%), from €8,314 to €3,337
- Current portion of long-term debt +€3,654
up €3,654 (+26.7%), from €13,704 to €17,358
- Tax, wage and social debts +€1,808
up €1,808 (+22.7%), from €7,950 to €9,758
- Depreciation +€15,056
up €15,056 (+398.7%), from €3,776 to €18,832
- Taxes -€2,074
down €2,074 (-74.8%), from €2,771 to €697
- Financial charges +€1,980
up €1,980 (+9389.0%), from €21 to €2,001
- Gross operating margin +€1,524
up €1,524 (+9.4%), from €16,222 to €17,746
- Other operating charges +€436
up €436 (+85.9%), from €507 to €943
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
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 | €72,540 | €63,214 | -€9,325 | -12.9% |
| Fixed assets | 21/28 | €52,117 | €33,285 | -€18,832 | -36.1% |
| Tangible fixed assets | 22/27 | €52,117 | €33,285 | -€18,832 | -36.1% |
| Plant, machinery and equipment | 23 | €1,204 | €601 | -€603 | -50.1% |
| Furniture and vehicles | 24 | €50,914 | €32,684 | -€18,229 | -35.8% |
| Current assets | 29/58 | €20,422 | €29,929 | +€9,507 | +46.6% |
| Amounts receivable within one year | 40/41 | €17,055 | €6,269 | -€10,787 | -63.2% |
| Trade receivables | 40 | €3,025 | €5,466 | +€2,441 | +80.7% |
| Other amounts receivable | 41 | €14,030 | €803 | -€13,227 | -94.3% |
| Cash at bank and in hand | 54/58 | €1,592 | €15,621 | +€14,030 | +881.6% |
| Deferred charges and accrued income | 490/1 | €1,775 | €8,039 | +€6,263 | +352.8% |
| Total equity and liabilities | 10/49 | €72,540 | €63,214 | -€9,325 | -12.9% |
| Equity | 10/15 | €10,814 | €5,837 | -€4,977 | -46.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,314 | €3,337 | -€4,977 | -59.9% |
| Amounts payable | 17/49 | €61,726 | €57,377 | -€4,348 | -7.0% |
| Amounts payable after more than one year | 17 | €32,484 | €18,326 | -€14,159 | -43.6% |
| Financial debts | 170/4 | €32,484 | €18,326 | -€14,159 | -43.6% |
| Amounts payable within one year | 42/48 | €29,241 | €39,052 | +€9,810 | +33.5% |
| Current portion of amounts payable after more than one year | 42 | €13,704 | €17,358 | +€3,654 | +26.7% |
| Trade debts | 44 | €4,560 | €10,243 | +€5,682 | +124.6% |
| Suppliers | 440/4 | €4,560 | €10,243 | +€5,682 | +124.6% |
| Taxes, remuneration and social security | 45 | €7,950 | €9,758 | +€1,808 | +22.7% |
| Taxes | 450/3 | €7,950 | €9,758 | +€1,808 | +22.7% |
| Other amounts payable | 47/48 | €3,027 | €1,693 | -€1,334 | -44.1% |
| Remuneration, social security and pensions | 62 | - | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,776 | €18,832 | +€15,056 | +398.7% |
| Other operating charges | 640/8 | €507 | €943 | +€436 | +85.9% |
| Gross operating margin | 9900 | €16,222 | €17,746 | +€1,524 | +9.4% |
| Operating profit (loss) | 9901 | €11,939 | -€2,279 | -€14,218 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €21 | €2,001 | +€1,980 | +9389.0% |
| Recurring financial charges | 65 | €21 | €2,001 | +€1,980 | +9389.0% |
| Profit (loss) for the period before taxes | 9903 | €11,918 | -€4,280 | -€16,198 | |
| Income taxes | 67/77 | €2,771 | €697 | -€2,074 | -74.8% |
| Profit (loss) for the period | 9904 | €9,147 | -€4,977 | -€14,124 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,147 | -€4,977 | -€14,124 |
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 10 October 2026 via checked.be.