PANIQUE: 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.
PANIQUE
Largest movements
- Intangible fixed assets -€436,780
down €436,780 (-19.4%), from €2.3m to €1.8m
- Receivables within one year -€128,873
down €128,873 (-6.2%), from €2.1m to €1.9m
of which Other amounts receivable: -€115,361
- Investment grants -€651,707
down €651,707 (-23.4%), from €2.8m to €2.1m
- Trade debts +€462,483
up €462,483 (+447%), from €103,350 to €565,833
- Short-term financial debts -€226,696
down €226,696 (-19.0%), from €1.2m to €968,687
- Profit (loss) carried forward -€172,858
down €172,858 (-76.6%), from €225,526 to €52,668
- Depreciation +€2.9m
up €2.9m (+759%), from €375,838 to €3.2m
- Gross operating margin +€2.4m
up €2.4m (+225%), from €1.1m to €3.5m
- Staff costs -€155,335
down €155,335 (-27.3%), from €568,592 to €413,256
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.
Derived cash bridge
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 | €4,407,178 | €3,804,451 | -€602,727 | -13.7% |
| Fixed assets | 21/28 | €2,255,976 | €1,818,325 | -€437,651 | -19.4% |
| Intangible fixed assets | 21 | €2,254,086 | €1,817,306 | -€436,780 | -19.4% |
| Tangible fixed assets | 22/27 | €1,890 | €1,019 | -€871 | -46.1% |
| Furniture and vehicles | 24 | €1,890 | €1,019 | -€871 | -46.1% |
| Current assets | 29/58 | €2,151,202 | €1,986,126 | -€165,076 | -7.7% |
| Amounts receivable within one year | 40/41 | €2,063,019 | €1,934,146 | -€128,873 | -6.2% |
| Trade receivables | 40 | €51,973 | €38,462 | -€13,512 | -26.0% |
| Other amounts receivable | 41 | €2,011,046 | €1,895,685 | -€115,361 | -5.7% |
| Cash at bank and in hand | 54/58 | €88,183 | €47,256 | -€40,927 | -46.4% |
| Deferred charges and accrued income | 490/1 | - | €4,724 | +€4,724 | |
| Total equity and liabilities | 10/49 | €4,407,178 | €3,804,451 | -€602,727 | -13.7% |
| Equity | 10/15 | €3,084,620 | €2,260,056 | -€824,564 | -26.7% |
| Contributions | 10/11 | €66,537 | €66,537 | = | 0.0% |
| Reserves | 13 | €7,904 | €7,904 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,904 | €7,904 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,904 | €7,904 | = | 0.0% |
| Profit (loss) carried forward | 14 | €225,526 | €52,668 | -€172,858 | -76.6% |
| Investment grants | 15 | €2,784,654 | €2,132,947 | -€651,707 | -23.4% |
| Amounts payable | 17/49 | €1,322,557 | €1,544,395 | +€221,838 | +16.8% |
| Amounts payable within one year | 42/48 | €1,322,557 | €1,544,395 | +€221,838 | +16.8% |
| Financial debts | 43 | €1,195,383 | €968,687 | -€226,696 | -19.0% |
| Credit institutions | 430/8 | €1,195,383 | €968,687 | -€226,696 | -19.0% |
| Trade debts | 44 | €103,350 | €565,833 | +€462,483 | +447% |
| Suppliers | 440/4 | €103,350 | €565,833 | +€462,483 | +447% |
| Taxes, remuneration and social security | 45 | €23,209 | €8,987 | -€14,222 | -61.3% |
| Taxes | 450/3 | €5,621 | €17 | -€5,605 | -99.7% |
| Remuneration and social security | 454/9 | €17,587 | €8,970 | -€8,617 | -49.0% |
| Other amounts payable | 47/48 | €615 | €888 | +€273 | +44.3% |
| Non-recurring operating income | 76A | €72,500 | - | -€72,500 | |
| Remuneration, social security and pensions | 62 | €568,592 | €413,256 | -€155,335 | -27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €375,838 | €3,228,936 | +€2.9m | +759% |
| Other operating charges | 640/8 | €5,200 | €19,755 | +€14,556 | +280% |
| Non-recurring operating charges | 66A | €13,554 | €374 | -€13,180 | -97.2% |
| Gross operating margin | 9900 | €1,073,682 | €3,493,905 | +€2.4m | +225% |
| Operating profit (loss) | 9901 | €110,499 | -€168,417 | -€278,916 | |
| Financial income | 75/76B | €23 | €389 | +€366 | +1,576% |
| Recurring financial income | 75 | €23 | €389 | +€366 | +1,576% |
| Financial charges | 65/66B | €1,228 | €4,830 | +€3,602 | +293% |
| Recurring financial charges | 65 | €1,228 | €4,830 | +€3,602 | +293% |
| Profit (loss) for the period before taxes | 9903 | €109,294 | -€172,858 | -€282,152 | |
| Profit (loss) for the period | 9904 | €109,294 | -€172,858 | -€282,152 | |
| Profit (loss) for the period to be appropriated | 9905 | €109,294 | -€172,858 | -€282,152 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.