PANELITE: 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.
What changed
PANELITE
NACE 56.220, Contract catering and other food service activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€12.6m
2024 · €11.6m+€944,183
Equity
€341.3m
2024 · €328.8m+€12.6m
Cash
€701,613
2024 · €155,262+€546,351
Balance sheet total
€374.3m
2024 · €358.9m+€15.4m
Largest movements
Assets
- Current investments +€6.0m
up €6.0m (+31.0%), from €19.3m to €25.2m
- Tangible fixed assets +€5.9m
up €5.9m (+24.0%), from €24.6m to €30.5m
of which Land and buildings: +€5.7m
Equity and liabilities
- Reserves +€12.6m
up €12.6m (+21.9%), from €57.4m to €69.9m
of which Distributable reserves: +€11.0m
Income statement
- Financial income +€1.3m
up €1.3m (+11.2%), from €11.6m to €12.9m
- Turnover +€844,805
up €844,805 (+18.6%), from €4.6m to €5.4m
- Goods and materials +€737,186
up €737,186 (+156.5%), from €471,113 to €1.2m
of which Change in stocks: decrease (increase): +€765,151
- Services and other goods +€394,019
up €394,019 (+20.9%), from €1.9m to €2.3m
- Staff costs +€160,728
up €160,728 (+12.8%), from €1.3m to €1.4m
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.
Result 2024
€11.6m
Turnover
+€844,805
Other operating income
-€34,624
Goods and materials
-€737,186
Services and other goods
-€394,019
Staff costs
-€160,728
Depreciation
-€63,145
Other operating charges
-€31,499
Other operating items
+€184,489
Financial income
+€1.3m
Financial charges
-€1,301
Taxes
+€33,557
Result 2025
€12.6m
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.
From operations
+€15.3m
Investment
-€14.7m
Financing
-€36,000
Cash 2024
€155,262
From operations (derived)
+€15.3m
Net result for the year
+€12.6m
Depreciation
+€1.6m
Smaller working-capital items
-€1,285
Stocks and contracts
+€439,626
Receivables within one year
-€2.2m
Trade debts
-€394,490
Tax, wage and social debts
+€68,713
Other debts
+€3.2m
Investment (derived)
-€14.7m
Investment in fixed assets (net)
-€8.7m
Current investments
-€6.0m
Financing
-€36,000
Debts after one year
-€36,000
Cash 2025
€701,613
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €358,917,234 | €374,335,322 | +€15.4m | +4.3% |
| Fixed assets | 21/28 | €313,436,395 | €320,571,196 | +€7.1m | +2.3% |
| Tangible fixed assets | 22/27 | €24,640,361 | €30,544,379 | +€5.9m | +24.0% |
| Land and buildings | 22 | €22,515,804 | €28,218,238 | +€5.7m | +25.3% |
| Plant, machinery and equipment | 23 | €2,001,602 | €2,252,390 | +€250,788 | +12.5% |
| Furniture and vehicles | 24 | €104,543 | €55,908 | -€48,635 | -46.5% |
| Other tangible fixed assets | 26 | €18,412 | €17,843 | -€569 | -3.1% |
| Financial fixed assets | 28 | €288,796,034 | €290,026,817 | +€1.2m | +0.4% |
| Affiliated companies | 280/1 | €288,796,034 | €290,026,817 | +€1.2m | +0.4% |
| Participating interests | 280 | €288,796,034 | €290,026,817 | +€1.2m | +0.4% |
| Current assets | 29/58 | €45,480,839 | €53,764,126 | +€8.3m | +18.2% |
| Amounts receivable after more than one year | 29 | €8,983,620 | €8,971,900 | -€11,721 | -0.1% |
| Trade receivables | 290 | €8,983,620 | €8,971,900 | -€11,721 | -0.1% |
| Stocks and contracts in progress | 3 | €3,805,082 | €3,365,456 | -€439,626 | -11.6% |
| Stocks | 30/36 | €3,805,082 | €3,365,456 | -€439,626 | -11.6% |
| Goods purchased for resale | 34 | €3,805,082 | €3,365,456 | -€439,626 | -11.6% |
| Amounts receivable within one year | 40/41 | €12,682,695 | €14,901,637 | +€2.2m | +17.5% |
| Trade receivables | 40 | €355,722 | €2,608,063 | +€2.3m | +633.2% |
| Other amounts receivable | 41 | €12,326,973 | €12,293,573 | -€33,400 | -0.3% |
| Current investments | 50/53 | €19,252,540 | €25,227,295 | +€6.0m | +31.0% |
| Other investments | 51/53 | €19,252,540 | €25,227,295 | +€6.0m | +31.0% |
| Cash at bank and in hand | 54/58 | €155,262 | €701,613 | +€546,351 | +351.9% |
| Deferred charges and accrued income | 490/1 | €601,640 | €596,225 | -€5,415 | -0.9% |
| Total equity and liabilities | 10/49 | €358,917,234 | €374,335,322 | +€15.4m | +4.3% |
| Equity | 10/15 | €328,760,061 | €341,318,325 | +€12.6m | +3.8% |
| Contributions | 10/11 | €271,409,492 | €271,409,492 | = | 0.0% |
| Capital | 10 | €271,409,492 | €271,409,492 | = | 0.0% |
| Issued capital | 100 | €271,409,492 | €271,409,492 | = | 0.0% |
| Reserves | 13 | €57,350,569 | €69,908,833 | +€12.6m | +21.9% |
| Non-distributable reserves | 130/1 | €3,434,672 | €4,012,867 | +€578,195 | +16.8% |
| Legal reserve | 130 | €3,434,672 | €4,012,867 | +€578,195 | +16.8% |
| Tax-exempt reserves | 132 | €581,245 | €1,575,607 | +€994,361 | +171.1% |
| Distributable reserves | 133 | €53,334,651 | €64,320,360 | +€11.0m | +20.6% |
| Provisions and deferred taxes | 16 | €19,315 | €18,179 | -€1,136 | -5.9% |
| Deferred taxes | 168 | €19,315 | €18,179 | -€1,136 | -5.9% |
| Amounts payable | 17/49 | €30,137,859 | €32,998,817 | +€2.9m | +9.5% |
| Amounts payable after more than one year | 17 | €84,000 | €48,000 | -€36,000 | -42.9% |
| Financial debts | 170/4 | €84,000 | €48,000 | -€36,000 | -42.9% |
| Subordinated loans | 170 | €84,000 | €48,000 | -€36,000 | -42.9% |
| Amounts payable within one year | 42/48 | €29,959,960 | €32,874,204 | +€2.9m | +9.7% |
| Trade debts | 44 | €812,350 | €417,859 | -€394,490 | -48.6% |
| Suppliers | 440/4 | €812,350 | €417,859 | -€394,490 | -48.6% |
| Taxes, remuneration and social security | 45 | €67,666 | €136,379 | +€68,713 | +101.5% |
| Taxes | 450/3 | €32,257 | €50,326 | +€18,070 | +56.0% |
| Remuneration and social security | 454/9 | €35,409 | €86,052 | +€50,643 | +143.0% |
| Other amounts payable | 47/48 | €29,079,945 | €32,319,966 | +€3.2m | +11.1% |
| Accrued charges and deferred income | 492/3 | €93,898 | €76,613 | -€17,285 | -18.4% |
| Operating income | 70/76A | €5,515,659 | €6,510,427 | +€994,769 | +18.0% |
| Turnover | 70 | €4,551,456 | €5,396,260 | +€844,805 | +18.6% |
| Other operating income | 74 | €949,158 | €914,535 | -€34,624 | -3.6% |
| Non-recurring operating income | 76A | €15,045 | €199,632 | +€184,588 | +1226.9% |
| Operating charges | 60/66A | €5,263,523 | €6,650,200 | +€1.4m | +26.3% |
| Goods for resale, raw materials and consumables | 60 | €471,113 | €1,208,299 | +€737,186 | +156.5% |
| Purchases | 600/8 | €886,638 | €858,674 | -€27,965 | -3.2% |
| Change in stocks: decrease (increase) | 609 | -€415,525 | €349,626 | +€765,151 | |
| Services and other goods | 61 | €1,886,242 | €2,280,262 | +€394,019 | +20.9% |
| Remuneration, social security and pensions | 62 | €1,252,051 | €1,412,778 | +€160,728 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,514,473 | €1,577,618 | +€63,145 | +4.2% |
| Other operating charges | 640/8 | €139,643 | €171,143 | +€31,499 | +22.6% |
| Non-recurring operating charges | 66A | - | €99 | +€99 | |
| Operating profit (loss) | 9901 | €252,135 | -€139,773 | -€391,908 | |
| Financial income | 75/76B | €11,635,261 | €12,939,096 | +€1.3m | +11.2% |
| Recurring financial income | 75 | €11,635,261 | €12,939,096 | +€1.3m | +11.2% |
| Income from financial fixed assets | 750 | €10,700,000 | €11,505,000 | +€805,000 | +7.5% |
| Income from current assets | 751 | €356,145 | €658,851 | +€302,706 | +85.0% |
| Other financial income | 752/9 | €579,116 | €775,245 | +€196,129 | +33.9% |
| Financial charges | 65/66B | €3,226 | €4,526 | +€1,301 | +40.3% |
| Recurring financial charges | 65 | €3,226 | €4,526 | +€1,301 | +40.3% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €0 | - | = | |
| Other financial charges | 652/9 | €3,226 | €4,526 | +€1,301 | +40.3% |
| Profit (loss) for the period before taxes | 9903 | €11,884,171 | €12,794,797 | +€910,626 | +7.7% |
| Transfer from deferred taxes | 780 | €1,136 | €1,136 | +€0 | 0.0% |
| Income taxes | 67/77 | €271,226 | €237,668 | -€33,557 | -12.4% |
| Taxes | 670/3 | €271,226 | €237,668 | -€33,557 | -12.4% |
| Profit (loss) for the period | 9904 | €11,614,082 | €12,558,265 | +€944,183 | +8.1% |
| Transfer from tax-exempt reserves | 789 | €3,409 | €3,409 | +€0 | 0.0% |
| Transfer to tax-exempt reserves | 689 | €522,040 | €997,770 | +€475,730 | +91.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,095,450 | €11,563,903 | +€468,453 | +4.2% |
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 5 October 2026 via checked.be.