PANDA CONSULTING: what changed
Two fiscal 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.
PANDA CONSULTING
Largest movements
- Tangible fixed assets +€20,498
up €20,498 (+1944.0%), from €1,054 to €21,553
of which Furniture and vehicles: +€11,469
- Cash +€5,562
up €5,562 (+15.6%), from €35,593 to €41,154
mainly Net result for the year (+€25,864) and Trade debts (+€5,978)
- Receivables within one year +€4,463
up €4,463 (+29.1%), from €15,322 to €19,785
of which Trade receivables: +€4,539
- Profit (loss) carried forward +€25,005
up €25,005 (+98.8%), from €25,305 to €50,310
- Trade debts +€5,978
up €5,978 (+504.0%), from €1,186 to €7,164
- Short-term financial debts -€1,254
no longer reported in 2025 (was €1,254)
- Gross operating margin +€5,465
up €5,465 (+15.4%), from €35,595 to €41,061
- Depreciation +€1,906
up €1,906 (+13051.4%), from €15 to €1,920
- Other operating charges +€1,055
up €1,055 (+6114.3%), from €17 to €1,072
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 | €52,810 | €82,640 | +€29,830 | +56.5% |
| Fixed assets | 21/28 | €1,054 | €21,553 | +€20,498 | +1944.0% |
| Tangible fixed assets | 22/27 | €1,054 | €21,553 | +€20,498 | +1944.0% |
| Furniture and vehicles | 24 | €1,054 | €12,524 | +€11,469 | +1087.7% |
| Other tangible fixed assets | 26 | - | €9,029 | +€9,029 | |
| Current assets | 29/58 | €51,755 | €61,087 | +€9,332 | +18.0% |
| Amounts receivable within one year | 40/41 | €15,322 | €19,785 | +€4,463 | +29.1% |
| Trade receivables | 40 | €15,246 | €19,785 | +€4,539 | +29.8% |
| Other amounts receivable | 41 | €76 | - | -€76 | |
| Cash at bank and in hand | 54/58 | €35,593 | €41,154 | +€5,562 | +15.6% |
| Deferred charges and accrued income | 490/1 | €840 | €147 | -€693 | -82.5% |
| Total equity and liabilities | 10/49 | €52,810 | €82,640 | +€29,830 | +56.5% |
| Equity | 10/15 | €28,305 | €53,310 | +€25,005 | +88.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,305 | €50,310 | +€25,005 | +98.8% |
| Amounts payable | 17/49 | €24,505 | €29,330 | +€4,825 | +19.7% |
| Amounts payable within one year | 42/48 | €24,255 | €29,080 | +€4,825 | +19.9% |
| Financial debts | 43 | €1,254 | - | -€1,254 | |
| Credit institutions | 430/8 | €1,254 | - | -€1,254 | |
| Trade debts | 44 | €1,186 | €7,164 | +€5,978 | +504.0% |
| Suppliers | 440/4 | €1,186 | €7,164 | +€5,978 | +504.0% |
| Taxes, remuneration and social security | 45 | €20,254 | €21,020 | +€766 | +3.8% |
| Taxes | 450/3 | €17,054 | €17,820 | +€766 | +4.5% |
| Remuneration and social security | 454/9 | €3,200 | €3,200 | = | 0.0% |
| Other amounts payable | 47/48 | €1,560 | €895 | -€665 | -42.6% |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15 | €1,920 | +€1,906 | +13051.4% |
| Other operating charges | 640/8 | €17 | €1,072 | +€1,055 | +6114.3% |
| Non-recurring operating charges | 66A | €1,034 | €3,040 | +€2,006 | +193.9% |
| Gross operating margin | 9900 | €35,595 | €41,061 | +€5,465 | +15.4% |
| Operating profit (loss) | 9901 | €34,529 | €35,028 | +€499 | +1.4% |
| Financial charges | 65/66B | €856 | €988 | +€132 | +15.4% |
| Recurring financial charges | 65 | €856 | €988 | +€132 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | €33,673 | €34,040 | +€367 | +1.1% |
| Income taxes | 67/77 | €8,302 | €8,176 | -€126 | -1.5% |
| Profit (loss) for the period | 9904 | €25,372 | €25,864 | +€493 | +1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,372 | €25,864 | +€493 | +1.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.