PANGEA TELECOM: 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.
PANGEA TELECOM
Largest movements
- Receivables within one year +€165,091
up €165,091 (+229.1%), from €72,065 to €237,157
of which Trade receivables: +€164,995
- Stocks and contracts +€68,549
up €68,549 (+253.0%), from €27,093 to €95,642
- Cash -€9,729
down €9,729 (-22.5%), from €43,145 to €33,416
mainly Receivables within one year (-€165,091) and Other debts (-€98,377)
- Profit (loss) carried forward +€207,049
up €207,049, from -€176,226 to €30,823
- Trade debts +€187,736
up €187,736 (+700.4%), from €26,806 to €214,542
- Other debts -€98,377
down €98,377 (-94.3%), from €104,377 to €6,000
- Short-term financial debts -€34,851
down €34,851 (-58.5%), from €59,611 to €24,759
- Debts after one year -€29,315
no longer reported in 2025 (was €29,315)
- Turnover +€1.8m
new in 2025: €1.8m
- Purchases and services +€1.8m
new in 2025: €1.8m
- Gross operating margin +€254,305
up €254,305, from -€32,731 to €221,574
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 | €142,754 | €366,214 | +€223,460 | +156.5% |
| Current assets | 29/58 | €142,754 | €366,214 | +€223,460 | +156.5% |
| Stocks and contracts in progress | 3 | €27,093 | €95,642 | +€68,549 | +253.0% |
| Stocks | 30/36 | €27,093 | €95,642 | +€68,549 | +253.0% |
| Amounts receivable within one year | 40/41 | €72,065 | €237,157 | +€165,091 | +229.1% |
| Trade receivables | 40 | €66,081 | €231,076 | +€164,995 | +249.7% |
| Other amounts receivable | 41 | €5,984 | €6,081 | +€97 | +1.6% |
| Cash at bank and in hand | 54/58 | €43,145 | €33,416 | -€9,729 | -22.5% |
| Deferred charges and accrued income | 490/1 | €451 | - | -€451 | |
| Total equity and liabilities | 10/49 | €142,754 | €366,214 | +€223,460 | +156.5% |
| Equity | 10/15 | -€93,014 | €114,035 | +€207,049 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €64,620 | €64,620 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €62,761 | €62,761 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€176,226 | €30,823 | +€207,049 | |
| Amounts payable | 17/49 | €235,768 | €252,179 | +€16,411 | +7.0% |
| Amounts payable after more than one year | 17 | €29,315 | - | -€29,315 | |
| Financial debts | 170/4 | €29,315 | - | -€29,315 | |
| Amounts payable within one year | 42/48 | €206,453 | €252,179 | +€45,726 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €3,875 | - | -€3,875 | |
| Financial debts | 43 | €59,611 | €24,759 | -€34,851 | -58.5% |
| Credit institutions | 430/8 | €59,611 | €24,759 | -€34,851 | -58.5% |
| Trade debts | 44 | €26,806 | €214,542 | +€187,736 | +700.4% |
| Suppliers | 440/4 | €26,806 | €214,542 | +€187,736 | +700.4% |
| Taxes, remuneration and social security | 45 | €11,785 | €6,879 | -€4,906 | -41.6% |
| Taxes | 450/3 | €11,785 | €6,879 | -€4,906 | -41.6% |
| Other amounts payable | 47/48 | €104,377 | €6,000 | -€98,377 | -94.3% |
| Turnover | 70 | - | €1,793,069 | +€1.8m | |
| Non-recurring operating income | 76A | - | €176,226 | +€176,226 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €1,755,582 | +€1.8m | |
| Other operating charges | 640/8 | €147 | €4,357 | +€4,209 | +2861.7% |
| Gross operating margin | 9900 | -€32,731 | €221,574 | +€254,305 | |
| Operating profit (loss) | 9901 | -€32,878 | €217,217 | +€250,095 | |
| Financial charges | 65/66B | €8,165 | €4,902 | -€3,263 | -40.0% |
| Recurring financial charges | 65 | €8,165 | €4,902 | -€3,263 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | -€41,043 | €212,315 | +€253,359 | |
| Income taxes | 67/77 | - | €5,266 | +€5,266 | |
| Profit (loss) for the period | 9904 | -€41,043 | €207,049 | +€248,092 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,043 | €207,049 | +€248,092 |
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 3 October 2026 via checked.be.