PANDA PLUS: 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 PLUS
Largest movements
- Receivables within one year +€28,405
new in 2024: €28,405
- Tangible fixed assets +€19,517
new in 2024: €19,517
of which Plant, machinery and equipment: +€13,636
- Cash +€3,066
up €3,066 (+11.4%), from €26,795 to €29,861
mainly Trade debts (+€39,695) and Net result for the year (+€9,391)
- Trade debts +€39,695
new in 2024: €39,695
- Profit (loss) carried forward +€9,391
up €9,391, from -€8,096 to €1,295
- Tax, wage and social debts +€3,538
new in 2024: €3,538
- Other debts -€1,636
down €1,636 (-42.2%), from €3,873 to €2,237
- Staff costs -€34,354
no longer reported in 2024 (was €34,354)
- Gross operating margin -€18,316
down €18,316 (-64.0%), from €28,638 to €10,322
- Taxes -€4,579
down €4,579 (-92.7%), from €4,937 to €358
- Financial charges -€2,878
down €2,878 (-95.8%), from €3,005 to €128
of which Non-recurring financial charges: -€2,256
- Depreciation +€445
new in 2024: €445
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.
Cash bridge derived
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 | €26,795 | €77,784 | +€50,989 | +190.3% |
| Fixed assets | 21/28 | - | €19,517 | +€19,517 | |
| Tangible fixed assets | 22/27 | - | €19,517 | +€19,517 | |
| Plant, machinery and equipment | 23 | - | €13,636 | +€13,636 | |
| Furniture and vehicles | 24 | - | €5,881 | +€5,881 | |
| Current assets | 29/58 | €26,795 | €58,267 | +€31,472 | +117.5% |
| Amounts receivable within one year | 40/41 | - | €28,405 | +€28,405 | |
| Trade receivables | 40 | - | €28,405 | +€28,405 | |
| Cash at bank and in hand | 54/58 | €26,795 | €29,861 | +€3,066 | +11.4% |
| Total equity and liabilities | 10/49 | €26,795 | €77,784 | +€50,989 | +190.3% |
| Equity | 10/15 | €22,922 | €32,313 | +€9,391 | +41.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | - | -€20,000 | |
| Issued capital | 100 | €20,000 | - | -€20,000 | |
| Reserves | 13 | €11,018 | €11,018 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,018 | €11,018 | = | 0.0% |
| Legal reserve | 130 | €13 | - | -€13 | |
| Other | 1319 | €11,005 | €11,018 | +€13 | +0.1% |
| Profit (loss) carried forward | 14 | -€8,096 | €1,295 | +€9,391 | |
| Amounts payable | 17/49 | €3,873 | €45,471 | +€41,598 | +1074.0% |
| Amounts payable within one year | 42/48 | €3,873 | €45,471 | +€41,598 | +1074.0% |
| Trade debts | 44 | - | €39,695 | +€39,695 | |
| Suppliers | 440/4 | - | €39,695 | +€39,695 | |
| Taxes, remuneration and social security | 45 | - | €3,538 | +€3,538 | |
| Taxes | 450/3 | - | €3,538 | +€3,538 | |
| Other amounts payable | 47/48 | €3,873 | €2,237 | -€1,636 | -42.2% |
| Non-recurring operating income | 76A | €14,873 | - | -€14,873 | |
| Remuneration, social security and pensions | 62 | €34,354 | - | -€34,354 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €445 | +€445 | |
| Gross operating margin | 9900 | €28,638 | €10,322 | -€18,316 | -64.0% |
| Operating profit (loss) | 9901 | -€5,716 | €9,876 | +€15,593 | |
| Financial charges | 65/66B | €3,005 | €128 | -€2,878 | -95.8% |
| Recurring financial charges | 65 | €750 | €128 | -€622 | -83.0% |
| Non-recurring financial charges | 66B | €2,256 | - | -€2,256 | |
| Profit (loss) for the period before taxes | 9903 | -€8,722 | €9,749 | +€18,470 | |
| Income taxes | 67/77 | €4,937 | €358 | -€4,579 | -92.7% |
| Profit (loss) for the period | 9904 | -€13,658 | €9,391 | +€23,049 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,658 | €9,391 | +€23,049 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.