PANEX: 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.
PANEX
Largest movements
- Cash -€1,551
down €1,551 (-29.8%), from €5,208 to €3,657
mainly Net result for the year (-€1,551)
- Profit (loss) carried forward -€1,551
down €1,551 (-6.0%), from -€26,027 to -€27,578
- Gross operating margin +€3,233
up €3,233 (+71.2%), from -€4,539 to -€1,306
- Other operating charges +€212
new in 2021: €212
From the 2020 result to the 2021 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 2020 and 2021 balance sheets and the 2021 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,208 | €3,657 | -€1,551 | -29.8% |
| Current assets | 29/58 | €5,208 | €3,657 | -€1,551 | -29.8% |
| Cash at bank and in hand | 54/58 | €5,208 | €3,657 | -€1,551 | -29.8% |
| Total equity and liabilities | 10/49 | €5,208 | €3,657 | -€1,551 | -29.8% |
| Equity | 10/15 | €5,208 | €3,657 | -€1,551 | -29.8% |
| Contributions | 10/11 | €31,235 | €31,235 | = | 0.0% |
| Capital | 10 | - | €31,235 | +€31,235 | |
| Issued capital | 100 | - | €31,235 | +€31,235 | |
| Profit (loss) carried forward | 14 | -€26,027 | -€27,578 | -€1,551 | -6.0% |
| Other operating charges | 640/8 | - | €212 | +€212 | |
| Gross operating margin | 9900 | -€4,539 | -€1,306 | +€3,233 | +71.2% |
| Operating profit (loss) | 9901 | -€4,539 | -€1,518 | +€3,021 | +66.6% |
| Financial charges | 65/66B | - | €32 | +€32 | |
| Recurring financial charges | 65 | €33 | €32 | -€0 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,572 | -€1,551 | +€3,021 | +66.1% |
| Profit (loss) for the period | 9904 | -€4,572 | -€1,551 | +€3,021 | +66.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,572 | -€1,551 | +€3,021 | +66.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.