PANDERS VASTGOED: 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.
PANDERS VASTGOED
Largest movements
- Cash +€32,069
up €32,069 (+217%), from €14,809 to €46,878
mainly Receivables within one year (+€24,552) and Net result for the year (+€4,156)
- Receivables within one year -€24,552
down €24,552 (-80.4%), from €30,524 to €5,972
of which Trade receivables: -€27,518
- Tangible fixed assets -€2,458
down €2,458 (-24.0%), from €10,224 to €7,765
- Deferred charges and accrued income -€858
down €858 (-25.3%), from €3,393 to €2,535
- Reserves +€4,156
up €4,156 (+45.3%), from €9,170 to €13,327
- Trade debts +€3,278
up €3,278 (+94.6%), from €3,463 to €6,740
- Other debts -€3,165
down €3,165 (-52.4%), from €6,042 to €2,877
- Tax, wage and social debts -€897
down €897 (-6.8%), from €13,099 to €12,202
of which Taxes: -€1,023
- Gross operating margin +€11,525
up €11,525 (+25.7%), from €44,903 to €56,428
- Staff costs +€8,099
up €8,099 (+24.2%), from €33,468 to €41,566
- Other operating charges +€4,127
up €4,127 (+473%), from €872 to €4,998
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 | €62,374 | €65,747 | +€3,373 | +5.4% |
| Formation expenses | 20 | €932 | €707 | -€225 | -24.2% |
| Fixed assets | 21/28 | €12,716 | €9,655 | -€3,061 | -24.1% |
| Intangible fixed assets | 21 | €2,492 | €1,890 | -€603 | -24.2% |
| Tangible fixed assets | 22/27 | €10,224 | €7,765 | -€2,458 | -24.0% |
| Plant, machinery and equipment | 23 | €4,333 | €3,296 | -€1,036 | -23.9% |
| Furniture and vehicles | 24 | €2,937 | €2,229 | -€707 | -24.1% |
| Other tangible fixed assets | 26 | €2,954 | €2,240 | -€715 | -24.2% |
| Current assets | 29/58 | €48,726 | €55,385 | +€6,659 | +13.7% |
| Amounts receivable within one year | 40/41 | €30,524 | €5,972 | -€24,552 | -80.4% |
| Trade receivables | 40 | €29,569 | €2,051 | -€27,518 | -93.1% |
| Other amounts receivable | 41 | €955 | €3,921 | +€2,966 | +311% |
| Cash at bank and in hand | 54/58 | €14,809 | €46,878 | +€32,069 | +217% |
| Deferred charges and accrued income | 490/1 | €3,393 | €2,535 | -€858 | -25.3% |
| Total equity and liabilities | 10/49 | €62,374 | €65,747 | +€3,373 | +5.4% |
| Equity | 10/15 | €27,770 | €31,927 | +€4,156 | +15.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,170 | €13,327 | +€4,156 | +45.3% |
| Distributable reserves | 133 | €9,170 | €13,327 | +€4,156 | +45.3% |
| Amounts payable | 17/49 | €34,604 | €33,820 | -€784 | -2.3% |
| Amounts payable after more than one year | 17 | €12,000 | €12,000 | = | 0.0% |
| Financial debts | 170/4 | €12,000 | €12,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €22,604 | €21,820 | -€784 | -3.5% |
| Trade debts | 44 | €3,463 | €6,740 | +€3,278 | +94.6% |
| Suppliers | 440/4 | €3,463 | €6,740 | +€3,278 | +94.6% |
| Taxes, remuneration and social security | 45 | €13,099 | €12,202 | -€897 | -6.8% |
| Taxes | 450/3 | €6,542 | €5,519 | -€1,023 | -15.6% |
| Remuneration and social security | 454/9 | €6,556 | €6,683 | +€126 | +1.9% |
| Other amounts payable | 47/48 | €6,042 | €2,877 | -€3,165 | -52.4% |
| Remuneration, social security and pensions | 62 | €33,468 | €41,566 | +€8,099 | +24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,344 | €3,286 | -€58 | -1.7% |
| Other operating charges | 640/8 | €872 | €4,998 | +€4,127 | +473% |
| Gross operating margin | 9900 | €44,903 | €56,428 | +€11,525 | +25.7% |
| Operating profit (loss) | 9901 | €7,220 | €6,577 | -€643 | -8.9% |
| Financial income | 75/76B | €0 | €34 | +€34 | +112,000% |
| Recurring financial income | 75 | €0 | €34 | +€34 | +112,000% |
| Financial charges | 65/66B | €454 | €420 | -€34 | -7.4% |
| Recurring financial charges | 65 | €454 | €420 | -€34 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €6,766 | €6,191 | -€575 | -8.5% |
| Income taxes | 67/77 | €2,045 | €2,034 | -€11 | -0.5% |
| Profit (loss) for the period | 9904 | €4,721 | €4,156 | -€564 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,721 | €4,156 | -€564 | -12.0% |
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 14 October 2026 via checked.be.