PANIMMO: 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.
PANIMMO
Largest movements
- Tangible fixed assets -€59,078
down €59,078 (-5.3%), from €1.1m to €1.0m
- Deferred charges and accrued income +€32,341
new in 2025: €32,341
- Debts after one year -€70,833
down €70,833 (-12.6%), from €560,752 to €489,919
- Trade debts +€23,846
new in 2025: €23,846
- Other debts +€13,607
up €13,607 (+6.3%), from €216,362 to €229,969
- Gross operating margin -€7,485
down €7,485 (-6.4%), from €117,730 to €110,244
- Taxes -€2,890
down €2,890 (-51.2%), from €5,650 to €2,760
- Financial income -€2,579
down €2,579 (-100.0%), from €2,579 to €0
- Other operating charges +€2,174
up €2,174 (+12.2%), from €17,849 to €20,023
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 | €1,115,952 | €1,091,037 | -€24,915 | -2.2% |
| Fixed assets | 21/28 | €1,108,203 | €1,049,125 | -€59,078 | -5.3% |
| Tangible fixed assets | 22/27 | €1,108,203 | €1,049,125 | -€59,078 | -5.3% |
| Land and buildings | 22 | €1,108,203 | €1,049,125 | -€59,078 | -5.3% |
| Current assets | 29/58 | €7,749 | €41,912 | +€34,163 | +440.9% |
| Amounts receivable within one year | 40/41 | - | €6,000 | +€6,000 | |
| Other amounts receivable | 41 | - | €6,000 | +€6,000 | |
| Cash at bank and in hand | 54/58 | €7,749 | €3,571 | -€4,178 | -53.9% |
| Deferred charges and accrued income | 490/1 | - | €32,341 | +€32,341 | |
| Total equity and liabilities | 10/49 | €1,115,952 | €1,091,037 | -€24,915 | -2.2% |
| Equity | 10/15 | €262,943 | €270,104 | +€7,162 | +2.7% |
| Contributions | 10/11 | €165,292 | €165,292 | = | 0.0% |
| Capital | 10 | €165,292 | €165,292 | = | 0.0% |
| Issued capital | 100 | €165,292 | €165,292 | = | 0.0% |
| Reserves | 13 | €25,034 | €25,034 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,956 | €5,956 | = | 0.0% |
| Legal reserve | 130 | €5,956 | €5,956 | = | 0.0% |
| Distributable reserves | 133 | €19,077 | €19,077 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,617 | €79,778 | +€7,162 | +9.9% |
| Amounts payable | 17/49 | €853,009 | €820,933 | -€32,077 | -3.8% |
| Amounts payable after more than one year | 17 | €560,752 | €489,919 | -€70,833 | -12.6% |
| Financial debts | 170/4 | €560,752 | €489,919 | -€70,833 | -12.6% |
| Amounts payable within one year | 42/48 | €292,257 | €331,014 | +€38,757 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €70,833 | €70,833 | -€0 | 0.0% |
| Trade debts | 44 | - | €23,846 | +€23,846 | |
| Suppliers | 440/4 | - | €23,846 | +€23,846 | |
| Taxes, remuneration and social security | 45 | €5,062 | €6,365 | +€1,303 | +25.7% |
| Taxes | 450/3 | €5,062 | €6,365 | +€1,303 | +25.7% |
| Other amounts payable | 47/48 | €216,362 | €229,969 | +€13,607 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,078 | €59,078 | = | 0.0% |
| Other operating charges | 640/8 | €17,849 | €20,023 | +€2,174 | +12.2% |
| Gross operating margin | 9900 | €117,730 | €110,244 | -€7,485 | -6.4% |
| Operating profit (loss) | 9901 | €40,803 | €31,143 | -€9,659 | -23.7% |
| Financial income | 75/76B | €2,579 | €0 | -€2,579 | -100.0% |
| Recurring financial income | 75 | €2,579 | €0 | -€2,579 | -100.0% |
| Financial charges | 65/66B | €21,141 | €21,222 | +€81 | +0.4% |
| Recurring financial charges | 65 | €21,141 | €21,222 | +€81 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €22,240 | €9,921 | -€12,319 | -55.4% |
| Income taxes | 67/77 | €5,650 | €2,760 | -€2,890 | -51.2% |
| Profit (loss) for the period | 9904 | €16,590 | €7,162 | -€9,428 | -56.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,590 | €7,162 | -€9,428 | -56.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.