Panin: 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.
Panin
Largest movements
- Tangible fixed assets +€79,322
up €79,322 (+72.0%), from €110,094 to €189,416
of which Furniture and vehicles: +€41,236
- Receivables within one year +€57,970
up €57,970 (+231.7%), from €25,017 to €82,987
of which Trade receivables: +€45,450
- Cash +€21,799
up €21,799 (+27.0%), from €80,675 to €102,474
mainly Other debts (+€82,366) and Net result for the year (+€63,719)
- Other debts +€82,366
up €82,366 (+1936.5%), from €4,253 to €86,620
- Reserves +€63,719
up €63,719 (+54.7%), from €116,424 to €180,142
- Tax, wage and social debts +€9,379
up €9,379 (+43.3%), from €21,654 to €31,033
- Gross operating margin -€62,029
down €62,029 (-37.7%), from €164,633 to €102,604
- Taxes -€16,587
down €16,587 (-41.1%), from €40,381 to €23,793
- Depreciation -€3,497
down €3,497 (-24.2%), from €14,465 to €10,968
- Financial charges +€2,984
up €2,984 (+152.1%), from €1,962 to €4,945
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €216,801 | €376,214 | +€159,412 | +73.5% |
| Fixed assets | 21/28 | €110,094 | €189,416 | +€79,322 | +72.0% |
| Tangible fixed assets | 22/27 | €110,094 | €189,416 | +€79,322 | +72.0% |
| Land and buildings | 22 | €99,849 | €137,935 | +€38,086 | +38.1% |
| Furniture and vehicles | 24 | €10,245 | €51,481 | +€41,236 | +402.5% |
| Current assets | 29/58 | €106,708 | €186,798 | +€80,090 | +75.1% |
| Amounts receivable within one year | 40/41 | €25,017 | €82,987 | +€57,970 | +231.7% |
| Trade receivables | 40 | €19,300 | €64,750 | +€45,450 | +235.5% |
| Other amounts receivable | 41 | €5,717 | €18,237 | +€12,520 | +219.0% |
| Cash at bank and in hand | 54/58 | €80,675 | €102,474 | +€21,799 | +27.0% |
| Deferred charges and accrued income | 490/1 | €1,015 | €1,337 | +€322 | +31.7% |
| Total equity and liabilities | 10/49 | €216,801 | €376,214 | +€159,412 | +73.5% |
| Equity | 10/15 | €131,424 | €195,142 | +€63,719 | +48.5% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €116,424 | €180,142 | +€63,719 | +54.7% |
| Distributable reserves | 133 | €116,424 | €180,142 | +€63,719 | +54.7% |
| Amounts payable | 17/49 | €85,378 | €181,071 | +€95,694 | +112.1% |
| Amounts payable after more than one year | 17 | €15,000 | €15,000 | = | 0.0% |
| Financial debts | 170/4 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €69,039 | €161,224 | +€92,186 | +133.5% |
| Trade debts | 44 | €43,132 | €43,572 | +€440 | +1.0% |
| Suppliers | 440/4 | €43,132 | €43,572 | +€440 | +1.0% |
| Taxes, remuneration and social security | 45 | €21,654 | €31,033 | +€9,379 | +43.3% |
| Taxes | 450/3 | €21,654 | €31,033 | +€9,379 | +43.3% |
| Other amounts payable | 47/48 | €4,253 | €86,620 | +€82,366 | +1936.5% |
| Accrued charges and deferred income | 492/3 | €1,339 | €4,847 | +€3,508 | +262.0% |
| Non-recurring operating income | 76A | - | €448 | +€448 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,465 | €10,968 | -€3,497 | -24.2% |
| Other operating charges | 640/8 | €132 | €1,056 | +€924 | +701.7% |
| Gross operating margin | 9900 | €164,633 | €102,604 | -€62,029 | -37.7% |
| Operating profit (loss) | 9901 | €150,036 | €90,580 | -€59,456 | -39.6% |
| Financial income | 75/76B | €240 | €1,877 | +€1,637 | +682.0% |
| Recurring financial income | 75 | €240 | €1,877 | +€1,637 | +682.0% |
| Financial charges | 65/66B | €1,962 | €4,945 | +€2,984 | +152.1% |
| Recurring financial charges | 65 | €1,962 | €4,945 | +€2,984 | +152.1% |
| Profit (loss) for the period before taxes | 9903 | €148,315 | €87,512 | -€60,803 | -41.0% |
| Income taxes | 67/77 | €40,381 | €23,793 | -€16,587 | -41.1% |
| Profit (loss) for the period | 9904 | €107,934 | €63,719 | -€44,215 | -41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €107,934 | €63,719 | -€44,215 | -41.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.