PANDA DEINZE: 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.
PANDA DEINZE
Largest movements
- Cash +€33,274
up €33,274 (+36.4%), from €91,338 to €124,611
mainly Net result for the year (+€30,055) and Depreciation (+€9,597)
- Deferred charges and accrued income +€3,472
up €3,472 (+663%), from €524 to €3,996
- Reserves +€30,000
up €30,000 (+42.9%), from €70,000 to €100,000
- Tax, wage and social debts +€3,332
up €3,332 (+28.1%), from €11,853 to €15,184
of which Taxes: +€4,813
- Trade debts +€2,530
up €2,530 (+257%), from €983 to €3,513
- Gross operating margin +€37,889
up €37,889 (+81.4%), from €46,528 to €84,417
- Staff costs +€21,992
up €21,992 (+165%), from €13,344 to €35,336
- Taxes +€3,394
up €3,394 (+77.7%), from €4,370 to €7,763
- Depreciation -€1,080
down €1,080 (-10.1%), from €10,678 to €9,597
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 | €124,678 | €161,578 | +€36,900 | +29.6% |
| Formation expenses | 20 | €81 | €0 | -€81 | -100% |
| Fixed assets | 21/28 | €29,041 | €28,961 | -€80 | -0.3% |
| Intangible fixed assets | 21 | €1,925 | €1,575 | -€350 | -18.2% |
| Tangible fixed assets | 22/27 | €15,910 | €16,092 | +€182 | +1.1% |
| Plant, machinery and equipment | 23 | €12,283 | €14,693 | +€2,410 | +19.6% |
| Furniture and vehicles | 24 | €3,627 | €1,399 | -€2,228 | -61.4% |
| Financial fixed assets | 28 | €11,206 | €11,294 | +€88 | +0.8% |
| Current assets | 29/58 | €95,556 | €132,617 | +€37,060 | +38.8% |
| Stocks and contracts in progress | 3 | €3,500 | €3,500 | = | 0.0% |
| Stocks | 30/36 | €3,500 | €3,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €195 | €509 | +€315 | +162% |
| Other amounts receivable | 41 | €195 | €509 | +€315 | +162% |
| Cash at bank and in hand | 54/58 | €91,338 | €124,611 | +€33,274 | +36.4% |
| Deferred charges and accrued income | 490/1 | €524 | €3,996 | +€3,472 | +663% |
| Total equity and liabilities | 10/49 | €124,678 | €161,578 | +€36,900 | +29.6% |
| Equity | 10/15 | €101,914 | €131,968 | +€30,055 | +29.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €70,000 | €100,000 | +€30,000 | +42.9% |
| Distributable reserves | 133 | €70,000 | €100,000 | +€30,000 | +42.9% |
| Profit (loss) carried forward | 14 | €1,914 | €1,968 | +€55 | +2.8% |
| Amounts payable | 17/49 | €22,764 | €29,610 | +€6,846 | +30.1% |
| Amounts payable within one year | 42/48 | €21,273 | €27,517 | +€6,244 | +29.4% |
| Trade debts | 44 | €983 | €3,513 | +€2,530 | +257% |
| Suppliers | 440/4 | €983 | €3,513 | +€2,530 | +257% |
| Taxes, remuneration and social security | 45 | €11,853 | €15,184 | +€3,332 | +28.1% |
| Taxes | 450/3 | €7,945 | €12,758 | +€4,813 | +60.6% |
| Remuneration and social security | 454/9 | €3,907 | €2,426 | -€1,481 | -37.9% |
| Other amounts payable | 47/48 | €8,437 | €8,819 | +€383 | +4.5% |
| Accrued charges and deferred income | 492/3 | €1,491 | €2,093 | +€601 | +40.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €13,344 | €35,336 | +€21,992 | +165% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,678 | €9,597 | -€1,080 | -10.1% |
| Other operating charges | 640/8 | €794 | €912 | +€118 | +14.9% |
| Gross operating margin | 9900 | €46,528 | €84,417 | +€37,889 | +81.4% |
| Operating profit (loss) | 9901 | €21,712 | €38,571 | +€16,859 | +77.7% |
| Financial charges | 65/66B | €929 | €753 | -€176 | -18.9% |
| Recurring financial charges | 65 | €929 | €753 | -€176 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €20,783 | €37,818 | +€17,035 | +82.0% |
| Income taxes | 67/77 | €4,370 | €7,763 | +€3,394 | +77.7% |
| Profit (loss) for the period | 9904 | €16,413 | €30,055 | +€13,642 | +83.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,413 | €30,055 | +€13,642 | +83.1% |
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 23 October 2026 via checked.be.