Panhuis: 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.
Panhuis
Largest movements
- Cash +€12,067
up €12,067 (+31.7%), from €38,102 to €50,169
mainly Net result for the year (+€22,124) and Trade debts (+€3,947)
- Receivables within one year +€9,862
up €9,862 (+98.4%), from €10,027 to €19,889
of which Trade receivables: +€8,192
- Deferred charges and accrued income +€1,476
new in 2025: €1,476
- Profit (loss) carried forward +€22,124
up €22,124 (+138.7%), from €15,950 to €38,073
- Trade debts +€3,947
up €3,947 (+30061.4%), from €13 to €3,960
- Tax, wage and social debts -€1,669
down €1,669 (-57.1%), from €2,924 to €1,255
- Other debts -€1,429
down €1,429 (-8.5%), from €16,756 to €15,327
- Gross operating margin +€8,993
up €8,993 (+70.4%), from €12,775 to €21,768
- Taxes +€1,968
up €1,968 (+57.0%), from €3,454 to €5,422
- Financial income -€1,014
down €1,014 (-12.2%), from €8,321 to €7,307
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 | €51,700 | €74,673 | +€22,972 | +44.4% |
| Fixed assets | 21/28 | €3,571 | €3,138 | -€433 | -12.1% |
| Tangible fixed assets | 22/27 | €1,471 | €1,038 | -€433 | -29.4% |
| Furniture and vehicles | 24 | €1,471 | €1,038 | -€433 | -29.4% |
| Financial fixed assets | 28 | €2,100 | €2,100 | = | 0.0% |
| Current assets | 29/58 | €48,129 | €71,535 | +€23,405 | +48.6% |
| Amounts receivable within one year | 40/41 | €10,027 | €19,889 | +€9,862 | +98.4% |
| Trade receivables | 40 | - | €8,192 | +€8,192 | |
| Other amounts receivable | 41 | €10,027 | €11,697 | +€1,670 | +16.7% |
| Cash at bank and in hand | 54/58 | €38,102 | €50,169 | +€12,067 | +31.7% |
| Deferred charges and accrued income | 490/1 | - | €1,476 | +€1,476 | |
| Total equity and liabilities | 10/49 | €51,700 | €74,673 | +€22,972 | +44.4% |
| Equity | 10/15 | €32,007 | €54,130 | +€22,124 | +69.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €15,057 | €15,057 | = | 0.0% |
| Distributable reserves | 133 | €15,057 | €15,057 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,950 | €38,073 | +€22,124 | +138.7% |
| Amounts payable | 17/49 | €19,694 | €20,542 | +€849 | +4.3% |
| Amounts payable within one year | 42/48 | €19,694 | €20,542 | +€849 | +4.3% |
| Trade debts | 44 | €13 | €3,960 | +€3,947 | +30061.4% |
| Suppliers | 440/4 | €13 | €3,960 | +€3,947 | +30061.4% |
| Taxes, remuneration and social security | 45 | €2,924 | €1,255 | -€1,669 | -57.1% |
| Taxes | 450/3 | €2,924 | €1,255 | -€1,669 | -57.1% |
| Other amounts payable | 47/48 | €16,756 | €15,327 | -€1,429 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €582 | €433 | -€149 | -25.6% |
| Other operating charges | 640/8 | €912 | €815 | -€97 | -10.6% |
| Gross operating margin | 9900 | €12,775 | €21,768 | +€8,993 | +70.4% |
| Operating profit (loss) | 9901 | €11,282 | €20,520 | +€9,239 | +81.9% |
| Financial income | 75/76B | €8,321 | €7,307 | -€1,014 | -12.2% |
| Recurring financial income | 75 | €8,321 | €7,307 | -€1,014 | -12.2% |
| Financial charges | 65/66B | €199 | €281 | +€83 | +41.5% |
| Recurring financial charges | 65 | €199 | €281 | +€83 | +41.5% |
| Profit (loss) for the period before taxes | 9903 | €19,404 | €27,546 | +€8,142 | +42.0% |
| Income taxes | 67/77 | €3,454 | €5,422 | +€1,968 | +57.0% |
| Profit (loss) for the period | 9904 | €15,950 | €22,124 | +€6,174 | +38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,950 | €22,124 | +€6,174 | +38.7% |
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 11 October 2026 via checked.be.