PANG: 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.
PANG
Largest movements
- Receivables within one year +€49,123
up €49,123 (+77.9%), from €63,042 to €112,165
of which Trade receivables: +€47,707
- Cash +€1,612
up €1,612 (+37.4%), from €4,314 to €5,926
mainly Trade debts (+€46,512) and Tax, wage and social debts (+€2,616)
- Tangible fixed assets -€1,358
down €1,358 (-26.5%), from €5,121 to €3,763
of which Furniture and vehicles: -€1,055
- Trade debts +€46,512
up €46,512 (+468.3%), from €9,932 to €56,443
- Tax, wage and social debts +€2,616
up €2,616 (+33.9%), from €7,720 to €10,336
- Gross operating margin +€5,884
up €5,884, from -€821 to €5,063
- Taxes +€1,696
up €1,696 (+639.9%), from €265 to €1,961
- Other operating charges -€1,338
down €1,338 (-56.1%), from €2,385 to €1,047
- Depreciation -€976
down €976 (-41.8%), from €2,334 to €1,358
- Financial charges -€254
down €254 (-9.2%), from €2,744 to €2,490
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,558 | €122,405 | +€48,847 | +66.4% |
| Fixed assets | 21/28 | €6,203 | €3,763 | -€2,440 | -39.3% |
| Tangible fixed assets | 22/27 | €5,121 | €3,763 | -€1,358 | -26.5% |
| Land and buildings | 22 | €2,426 | €2,123 | -€303 | -12.5% |
| Furniture and vehicles | 24 | €2,695 | €1,640 | -€1,055 | -39.1% |
| Financial fixed assets | 28 | €1,082 | €0 | -€1,082 | -100.0% |
| Current assets | 29/58 | €67,356 | €118,642 | +€51,287 | +76.1% |
| Amounts receivable within one year | 40/41 | €63,042 | €112,165 | +€49,123 | +77.9% |
| Trade receivables | 40 | €44,880 | €92,586 | +€47,707 | +106.3% |
| Other amounts receivable | 41 | €18,162 | €19,579 | +€1,417 | +7.8% |
| Cash at bank and in hand | 54/58 | €4,314 | €5,926 | +€1,612 | +37.4% |
| Deferred charges and accrued income | 490/1 | - | €551 | +€551 | |
| Total equity and liabilities | 10/49 | €73,558 | €122,405 | +€48,847 | +66.4% |
| Equity | 10/15 | €55,326 | €54,626 | -€700 | -1.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,726 | €36,026 | -€700 | -1.9% |
| Distributable reserves | 133 | €36,726 | €36,026 | -€700 | -1.9% |
| Amounts payable | 17/49 | €18,232 | €67,779 | +€49,547 | +271.8% |
| Amounts payable within one year | 42/48 | €17,651 | €66,779 | +€49,128 | +278.3% |
| Trade debts | 44 | €9,932 | €56,443 | +€46,512 | +468.3% |
| Suppliers | 440/4 | €9,932 | €56,443 | +€46,512 | +468.3% |
| Taxes, remuneration and social security | 45 | €7,720 | €10,336 | +€2,616 | +33.9% |
| Taxes | 450/3 | €7,720 | €10,336 | +€2,616 | +33.9% |
| Accrued charges and deferred income | 492/3 | €581 | €1,000 | +€419 | +72.1% |
| Non-recurring operating income | 76A | €320 | €0 | -€320 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,334 | €1,358 | -€976 | -41.8% |
| Other operating charges | 640/8 | €2,385 | €1,047 | -€1,338 | -56.1% |
| Gross operating margin | 9900 | -€821 | €5,063 | +€5,884 | |
| Operating profit (loss) | 9901 | -€5,540 | €2,658 | +€8,198 | |
| Financial income | 75/76B | €1,080 | €1,093 | +€13 | +1.2% |
| Recurring financial income | 75 | €1,080 | €1,093 | +€13 | +1.2% |
| Financial charges | 65/66B | €2,744 | €2,490 | -€254 | -9.2% |
| Recurring financial charges | 65 | €2,744 | €2,490 | -€254 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | -€7,204 | €1,260 | +€8,464 | |
| Income taxes | 67/77 | €265 | €1,961 | +€1,696 | +639.9% |
| Profit (loss) for the period | 9904 | -€7,469 | -€700 | +€6,768 | +90.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,469 | -€700 | +€6,768 | +90.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.