PANINI: 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.
PANINI
Largest movements
- Receivables within one year +€11,394
up €11,394 (+13.3%), from €85,524 to €96,918
of which Other amounts receivable: +€10,935
- Cash -€6,275
down €6,275 (-53.8%), from €11,659 to €5,384
mainly Receivables within one year (-€11,394) and Debts after one year (-€4,150)
- Tangible fixed assets +€1,075
new in 2022: €1,075
- Reserves +€7,179
up €7,179 (+33.5%), from €21,432 to €28,611
of which Distributable reserves: +€7,179
- Debts after one year -€4,150
down €4,150 (-39.3%), from €10,563 to €6,413
- Tax, wage and social debts +€2,833
up €2,833 (+16.7%), from €16,997 to €19,830
of which Remuneration and social security: +€4,582
- Other debts +€2,000
new in 2022: €2,000
- Accrued charges and deferred income -€1,643
down €1,643 (-30.8%), from €5,331 to €3,688
- Gross operating margin +€13,346
up €13,346 (+64.0%), from €20,862 to €34,208
- Staff costs +€12,717
up €12,717 (+423.8%), from €3,001 to €15,718
- Other operating charges -€1,490
down €1,490 (-50.8%), from €2,936 to €1,446
- Financial charges -€771
down €771 (-26.2%), from €2,940 to €2,168
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €97,834 | €104,654 | +€6,820 | +7.0% |
| Fixed assets | 21/28 | - | €1,075 | +€1,075 | |
| Tangible fixed assets | 22/27 | - | €1,075 | +€1,075 | |
| Other tangible fixed assets | 26 | - | €1,075 | +€1,075 | |
| Current assets | 29/58 | €97,834 | €103,579 | +€5,745 | +5.9% |
| Stocks and contracts in progress | 3 | €650 | €500 | -€150 | -23.1% |
| Stocks | 30/36 | €650 | €500 | -€150 | -23.1% |
| Amounts receivable within one year | 40/41 | €85,524 | €96,918 | +€11,394 | +13.3% |
| Trade receivables | 40 | - | €459 | +€459 | |
| Other amounts receivable | 41 | €85,524 | €96,460 | +€10,935 | +12.8% |
| Cash at bank and in hand | 54/58 | €11,659 | €5,384 | -€6,275 | -53.8% |
| Deferred charges and accrued income | 490/1 | - | €777 | +€777 | |
| Total equity and liabilities | 10/49 | €97,834 | €104,654 | +€6,820 | +7.0% |
| Equity | 10/15 | €48,413 | €55,593 | +€7,179 | +14.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €21,432 | €28,611 | +€7,179 | +33.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €19,572 | €26,751 | +€7,179 | +36.7% |
| Profit (loss) carried forward | 14 | €8,381 | €8,381 | = | 0.0% |
| Amounts payable | 17/49 | €49,420 | €49,061 | -€359 | -0.7% |
| Amounts payable after more than one year | 17 | €10,563 | €6,413 | -€4,150 | -39.3% |
| Financial debts | 170/4 | €10,563 | €6,413 | -€4,150 | -39.3% |
| Amounts payable within one year | 42/48 | €33,526 | €38,960 | +€5,434 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | €3,862 | €4,150 | +€288 | +7.4% |
| Financial debts | 43 | €2,472 | €2,500 | +€28 | +1.1% |
| Credit institutions | 430/8 | €2,472 | €2,500 | +€28 | +1.1% |
| Trade debts | 44 | €10,195 | €10,480 | +€285 | +2.8% |
| Suppliers | 440/4 | €10,195 | €10,480 | +€285 | +2.8% |
| Taxes, remuneration and social security | 45 | €16,997 | €19,830 | +€2,833 | +16.7% |
| Taxes | 450/3 | €15,994 | €14,245 | -€1,749 | -10.9% |
| Remuneration and social security | 454/9 | €1,003 | €5,586 | +€4,582 | +456.8% |
| Other amounts payable | 47/48 | - | €2,000 | +€2,000 | |
| Accrued charges and deferred income | 492/3 | €5,331 | €3,688 | -€1,643 | -30.8% |
| Remuneration, social security and pensions | 62 | €3,001 | €15,718 | +€12,717 | +423.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €102 | +€102 | |
| Other operating charges | 640/8 | €2,936 | €1,446 | -€1,490 | -50.8% |
| Gross operating margin | 9900 | €20,862 | €34,208 | +€13,346 | +64.0% |
| Operating profit (loss) | 9901 | €14,925 | €16,942 | +€2,017 | +13.5% |
| Financial income | 75/76B | €0 | €149 | +€148 | +30918.8% |
| Recurring financial income | 75 | €0 | €149 | +€148 | +30918.8% |
| Financial charges | 65/66B | €2,940 | €2,168 | -€771 | -26.2% |
| Recurring financial charges | 65 | €2,940 | €2,168 | -€771 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €11,986 | €14,922 | +€2,936 | +24.5% |
| Income taxes | 67/77 | €6,051 | €5,743 | -€308 | -5.1% |
| Profit (loss) for the period | 9904 | €5,935 | €9,179 | +€3,244 | +54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,935 | €9,179 | +€3,244 | +54.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.