PANERIA: 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.
PANERIA
Largest movements
- Tangible fixed assets -€19,073
down €19,073 (-14.8%), from €128,620 to €109,548
of which Furniture and vehicles: -€14,242
- Receivables within one year -€3,196
down €3,196 (-89.4%), from €3,576 to €380
of which Other amounts receivable: -€3,184
- Cash +€1,583
up €1,583 (+10.7%), from €14,811 to €16,394
mainly Depreciation (+€21,286) and Receivables within one year (+€3,196)
- Debts after one year -€13,836
down €13,836 (-54.2%), from €25,515 to €11,680
- Reserves -€5,000
down €5,000 (-6.6%), from €75,575 to €70,575
of which Distributable reserves: -€5,000
- Tax, wage and social debts -€2,660
down €2,660 (-26.2%), from €10,165 to €7,506
of which Remuneration and social security: -€1,651
- Profit (loss) carried forward -€2,321
down €2,321, from €290 to -€2,031
- Other debts +€2,126
new in 2025: €2,126
- Staff costs -€8,443
down €8,443 (-21.7%), from €38,977 to €30,534
- Depreciation +€741
up €741 (+3.6%), from €20,545 to €21,286
- Gross operating margin -€656
down €656 (-1.3%), from €48,786 to €48,130
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 | €157,226 | €135,119 | -€22,107 | -14.1% |
| Fixed assets | 21/28 | €128,620 | €109,548 | -€19,073 | -14.8% |
| Tangible fixed assets | 22/27 | €128,620 | €109,548 | -€19,073 | -14.8% |
| Land and buildings | 22 | €63,497 | €58,247 | -€5,250 | -8.3% |
| Plant, machinery and equipment | 23 | €6,695 | €7,115 | +€419 | +6.3% |
| Furniture and vehicles | 24 | €58,428 | €44,186 | -€14,242 | -24.4% |
| Current assets | 29/58 | €28,606 | €25,571 | -€3,035 | -10.6% |
| Stocks and contracts in progress | 3 | €7,230 | €6,598 | -€632 | -8.7% |
| Stocks | 30/36 | €7,230 | €6,598 | -€632 | -8.7% |
| Amounts receivable within one year | 40/41 | €3,576 | €380 | -€3,196 | -89.4% |
| Trade receivables | 40 | €203 | €192 | -€12 | -5.7% |
| Other amounts receivable | 41 | €3,372 | €188 | -€3,184 | -94.4% |
| Cash at bank and in hand | 54/58 | €14,811 | €16,394 | +€1,583 | +10.7% |
| Deferred charges and accrued income | 490/1 | €2,988 | €2,199 | -€789 | -26.4% |
| Total equity and liabilities | 10/49 | €157,226 | €135,119 | -€22,107 | -14.1% |
| Equity | 10/15 | €94,615 | €87,294 | -€7,321 | -7.7% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €75,575 | €70,575 | -€5,000 | -6.6% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €73,700 | €68,700 | -€5,000 | -6.8% |
| Profit (loss) carried forward | 14 | €290 | -€2,031 | -€2,321 | |
| Amounts payable | 17/49 | €62,611 | €47,824 | -€14,786 | -23.6% |
| Amounts payable after more than one year | 17 | €25,515 | €11,680 | -€13,836 | -54.2% |
| Financial debts | 170/4 | €25,515 | €11,680 | -€13,836 | -54.2% |
| Amounts payable within one year | 42/48 | €37,095 | €36,145 | -€951 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €13,642 | €13,836 | +€193 | +1.4% |
| Trade debts | 44 | €13,288 | €12,677 | -€611 | -4.6% |
| Suppliers | 440/4 | €13,288 | €12,677 | -€611 | -4.6% |
| Taxes, remuneration and social security | 45 | €10,165 | €7,506 | -€2,660 | -26.2% |
| Taxes | 450/3 | €4,868 | €3,860 | -€1,008 | -20.7% |
| Remuneration and social security | 454/9 | €5,297 | €3,646 | -€1,651 | -31.2% |
| Other amounts payable | 47/48 | - | €2,126 | +€2,126 | |
| Remuneration, social security and pensions | 62 | €38,977 | €30,534 | -€8,443 | -21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,545 | €21,286 | +€741 | +3.6% |
| Other operating charges | 640/8 | €2,503 | €2,639 | +€136 | +5.4% |
| Gross operating margin | 9900 | €48,786 | €48,130 | -€656 | -1.3% |
| Operating profit (loss) | 9901 | -€13,239 | -€6,329 | +€6,911 | +52.2% |
| Financial income | 75/76B | €30 | €30 | -€0 | -0.5% |
| Recurring financial income | 75 | €30 | €30 | -€0 | -0.5% |
| Financial charges | 65/66B | €1,022 | €838 | -€184 | -18.0% |
| Recurring financial charges | 65 | €1,022 | €838 | -€184 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,232 | -€7,137 | +€7,095 | +49.9% |
| Income taxes | 67/77 | €226 | €184 | -€42 | -18.6% |
| Profit (loss) for the period | 9904 | -€14,458 | -€7,321 | +€7,137 | +49.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,458 | -€7,321 | +€7,137 | +49.4% |
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 17 October 2026 via checked.be.