PANgurus: 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.
PANgurus
Largest movements
- Receivables within one year +€26,802
up €26,802 (+328.2%), from €8,167 to €34,968
of which Trade receivables: +€26,802
- Tangible fixed assets -€20,246
down €20,246 (-48.2%), from €41,998 to €21,752
of which Furniture and vehicles: -€13,362
- Cash +€6,219
up €6,219 (+11.7%), from €53,096 to €59,314
mainly Other debts (+€92,997) and Net result for the year (+€84,783)
- Other debts +€92,997
up €92,997 (+1006.3%), from €9,241 to €102,239
- Reserves -€57,230
down €57,230 (-100.0%), from €57,230 to €0
- Current portion of long-term debt -€11,648
down €11,648 (-65.3%), from €17,839 to €6,191
- Debts after one year -€6,191
down €6,191 (-84.3%), from €7,346 to €1,154
- Trade debts -€5,211
down €5,211 (-96.0%), from €5,431 to €219
- Gross operating margin +€89,042
up €89,042 (+187.5%), from €47,494 to €136,536
- Taxes +€21,273
up €21,273 (+392.9%), from €5,415 to €26,687
- Depreciation -€5,469
down €5,469 (-19.9%), from €27,443 to €21,974
- Financial charges -€2,008
down €2,008 (-54.5%), from €3,684 to €1,676
- Other operating charges -€1,943
down €1,943 (-53.8%), from €3,614 to €1,671
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 | €105,045 | €118,024 | +€12,979 | +12.4% |
| Fixed assets | 21/28 | €41,998 | €21,752 | -€20,246 | -48.2% |
| Tangible fixed assets | 22/27 | €41,998 | €21,752 | -€20,246 | -48.2% |
| Plant, machinery and equipment | 23 | €4,285 | €3,520 | -€765 | -17.9% |
| Furniture and vehicles | 24 | €23,790 | €10,428 | -€13,362 | -56.2% |
| Leasing and similar rights | 25 | €4,713 | €0 | -€4,713 | -100.0% |
| Other tangible fixed assets | 26 | €9,210 | €7,804 | -€1,406 | -15.3% |
| Current assets | 29/58 | €63,048 | €96,273 | +€33,225 | +52.7% |
| Amounts receivable within one year | 40/41 | €8,167 | €34,968 | +€26,802 | +328.2% |
| Trade receivables | 40 | €4,081 | €30,883 | +€26,802 | +656.7% |
| Other amounts receivable | 41 | €4,085 | €4,085 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €53,096 | €59,314 | +€6,219 | +11.7% |
| Deferred charges and accrued income | 490/1 | €1,785 | €1,990 | +€205 | +11.5% |
| Total equity and liabilities | 10/49 | €105,045 | €118,024 | +€12,979 | +12.4% |
| Equity | 10/15 | €58,230 | €1,000 | -€57,230 | -98.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €57,230 | €0 | -€57,230 | -100.0% |
| Distributable reserves | 133 | €57,230 | €0 | -€57,230 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €46,815 | €117,024 | +€70,209 | +150.0% |
| Amounts payable after more than one year | 17 | €7,346 | €1,154 | -€6,191 | -84.3% |
| Financial debts | 170/4 | €7,346 | €1,154 | -€6,191 | -84.3% |
| Amounts payable within one year | 42/48 | €39,469 | €115,870 | +€76,401 | +193.6% |
| Current portion of amounts payable after more than one year | 42 | €17,839 | €6,191 | -€11,648 | -65.3% |
| Trade debts | 44 | €5,431 | €219 | -€5,211 | -96.0% |
| Suppliers | 440/4 | €5,431 | €219 | -€5,211 | -96.0% |
| Taxes, remuneration and social security | 45 | €6,958 | €7,220 | +€263 | +3.8% |
| Taxes | 450/3 | €6,958 | €7,220 | +€263 | +3.8% |
| Other amounts payable | 47/48 | €9,241 | €102,239 | +€92,997 | +1006.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €1,521 | +€1,521 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,443 | €21,974 | -€5,469 | -19.9% |
| Other operating charges | 640/8 | €3,614 | €1,671 | -€1,943 | -53.8% |
| Gross operating margin | 9900 | €47,494 | €136,536 | +€89,042 | +187.5% |
| Operating profit (loss) | 9901 | €16,438 | €112,892 | +€96,453 | +586.8% |
| Financial income | 75/76B | €117 | €254 | +€137 | +116.6% |
| Recurring financial income | 75 | €117 | €254 | +€137 | +116.6% |
| Financial charges | 65/66B | €3,684 | €1,676 | -€2,008 | -54.5% |
| Recurring financial charges | 65 | €3,684 | €1,676 | -€2,008 | -54.5% |
| Profit (loss) for the period before taxes | 9903 | €12,871 | €111,470 | +€98,598 | +766.0% |
| Income taxes | 67/77 | €5,415 | €26,687 | +€21,273 | +392.9% |
| Profit (loss) for the period | 9904 | €7,457 | €84,783 | +€77,326 | +1037.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,457 | €84,783 | +€77,326 | +1037.0% |
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 7 October 2026 via checked.be.