PANDAFISH: 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.
PANDAFISH
Largest movements
- Receivables within one year +€47,414
up €47,414 (+51.3%), from €92,485 to €139,899
of which Trade receivables: +€44,046
- Cash -€10,185
down €10,185 (-50.2%), from €20,304 to €10,119
mainly Receivables within one year (-€47,414) and Deferred charges and accrued income (-€3,014)
- Deferred charges and accrued income +€3,014
up €3,014 (+64.3%), from €4,687 to €7,701
- Trade debts +€31,402
up €31,402 (+19.9%), from €157,484 to €188,886
- Reserves +€10,462
up €10,462 (+34.4%), from €30,399 to €40,861
of which Distributable reserves: +€10,462
- Gross operating margin -€1,635
down €1,635 (-1.7%), from €94,185 to €92,550
- Other operating charges -€1,586
down €1,586 (-75.8%), from €2,094 to €507
- Staff costs +€1,515
up €1,515 (+2.2%), from €69,157 to €70,672
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 | €219,135 | €257,557 | +€38,422 | +17.5% |
| Fixed assets | 21/28 | €101,659 | €99,838 | -€1,821 | -1.8% |
| Tangible fixed assets | 22/27 | €3,659 | €1,838 | -€1,821 | -49.8% |
| Furniture and vehicles | 24 | €3,659 | €1,838 | -€1,821 | -49.8% |
| Financial fixed assets | 28 | €98,000 | €98,000 | = | 0.0% |
| Current assets | 29/58 | €117,476 | €157,719 | +€40,242 | +34.3% |
| Amounts receivable within one year | 40/41 | €92,485 | €139,899 | +€47,414 | +51.3% |
| Trade receivables | 40 | €92,426 | €136,472 | +€44,046 | +47.7% |
| Other amounts receivable | 41 | €59 | €3,427 | +€3,368 | +5,686% |
| Cash at bank and in hand | 54/58 | €20,304 | €10,119 | -€10,185 | -50.2% |
| Deferred charges and accrued income | 490/1 | €4,687 | €7,701 | +€3,014 | +64.3% |
| Total equity and liabilities | 10/49 | €219,135 | €257,557 | +€38,422 | +17.5% |
| Equity | 10/15 | €36,599 | €47,061 | +€10,462 | +28.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €30,399 | €40,861 | +€10,462 | +34.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €30,399 | €40,861 | +€10,462 | +34.4% |
| Amounts payable | 17/49 | €182,537 | €210,496 | +€27,959 | +15.3% |
| Amounts payable within one year | 42/48 | €170,037 | €200,496 | +€30,459 | +17.9% |
| Financial debts | 43 | €456 | €483 | +€28 | +6.1% |
| Credit institutions | 430/8 | €456 | €483 | +€28 | +6.1% |
| Trade debts | 44 | €157,484 | €188,886 | +€31,402 | +19.9% |
| Suppliers | 440/4 | €157,484 | €188,886 | +€31,402 | +19.9% |
| Taxes, remuneration and social security | 45 | €12,097 | €11,127 | -€970 | -8.0% |
| Taxes | 450/3 | €715 | €0 | -€715 | -100% |
| Remuneration and social security | 454/9 | €11,382 | €11,127 | -€255 | -2.2% |
| Accrued charges and deferred income | 492/3 | €12,500 | €10,000 | -€2,500 | -20.0% |
| Remuneration, social security and pensions | 62 | €69,157 | €70,672 | +€1,515 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,255 | €1,821 | -€434 | -19.2% |
| Other operating charges | 640/8 | €2,094 | €507 | -€1,586 | -75.8% |
| Gross operating margin | 9900 | €94,185 | €92,550 | -€1,635 | -1.7% |
| Operating profit (loss) | 9901 | €20,679 | €19,550 | -€1,129 | -5.5% |
| Financial income | 75/76B | €235 | €5 | -€229 | -97.7% |
| Recurring financial income | 75 | €235 | €5 | -€229 | -97.7% |
| Financial charges | 65/66B | €2,381 | €2,884 | +€504 | +21.2% |
| Recurring financial charges | 65 | €2,381 | €2,884 | +€504 | +21.2% |
| Profit (loss) for the period before taxes | 9903 | €18,533 | €16,671 | -€1,862 | -10.0% |
| Income taxes | 67/77 | €6,359 | €6,209 | -€150 | -2.4% |
| Profit (loss) for the period | 9904 | €12,175 | €10,462 | -€1,713 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,175 | €10,462 | -€1,713 | -14.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.