PANITAL: 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.
PANITAL
Largest movements
- Receivables within one year +€335,974
new in 2025: €335,974
of which Trade receivables: +€335,000
- Cash -€50,554
down €50,554 (-95.9%), from €52,713 to €2,159
mainly Receivables within one year (-€335,974) and Tax, wage and social debts (-€38,503)
- Debts after one year +€235,750
up €235,750 (+7.7%), from €3.0m to €3.3m
- Trade debts +€88,464
up €88,464 (+3368.8%), from €2,626 to €91,090
- Services and other goods +€355,575
up €355,575 (+125.3%), from €283,754 to €639,329
- Turnover +€335,000
up €335,000 (+109.5%), from €306,000 to €641,000
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 | €3,797,575 | €4,083,069 | +€285,494 | +7.5% |
| Fixed assets | 21/28 | €3,742,092 | €3,742,092 | = | 0.0% |
| Financial fixed assets | 28 | €3,742,092 | €3,742,092 | = | 0.0% |
| Affiliated companies | 280/1 | €3,742,092 | €3,742,092 | = | 0.0% |
| Participating interests | 280 | €3,742,092 | €3,742,092 | = | 0.0% |
| Current assets | 29/58 | €55,483 | €340,977 | +€285,494 | +514.6% |
| Amounts receivable within one year | 40/41 | - | €335,974 | +€335,974 | |
| Trade receivables | 40 | - | €335,000 | +€335,000 | |
| Other amounts receivable | 41 | - | €974 | +€974 | |
| Cash at bank and in hand | 54/58 | €52,713 | €2,159 | -€50,554 | -95.9% |
| Deferred charges and accrued income | 490/1 | €2,770 | €2,844 | +€74 | +2.7% |
| Total equity and liabilities | 10/49 | €3,797,575 | €4,083,069 | +€285,494 | +7.5% |
| Equity | 10/15 | €684,948 | €684,731 | -€217 | 0.0% |
| Contributions | 10/11 | €107,608 | €107,608 | = | 0.0% |
| Reserves | 13 | €577,340 | €577,123 | -€217 | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €575,340 | €575,123 | -€217 | 0.0% |
| Amounts payable | 17/49 | €3,112,627 | €3,398,338 | +€285,711 | +9.2% |
| Amounts payable after more than one year | 17 | €3,047,500 | €3,283,250 | +€235,750 | +7.7% |
| Other amounts payable | 178/9 | €3,047,500 | €3,283,250 | +€235,750 | +7.7% |
| Amounts payable within one year | 42/48 | €65,127 | €115,088 | +€49,961 | +76.7% |
| Trade debts | 44 | €2,626 | €91,090 | +€88,464 | +3368.8% |
| Suppliers | 440/4 | €2,626 | €91,090 | +€88,464 | +3368.8% |
| Taxes, remuneration and social security | 45 | €62,501 | €23,998 | -€38,503 | -61.6% |
| Taxes | 450/3 | €62,501 | €23,998 | -€38,503 | -61.6% |
| Operating income | 70/76A | €306,000 | €641,000 | +€335,000 | +109.5% |
| Turnover | 70 | €306,000 | €641,000 | +€335,000 | +109.5% |
| Operating charges | 60/66A | €284,862 | €640,472 | +€355,610 | +124.8% |
| Services and other goods | 61 | €283,754 | €639,329 | +€355,575 | +125.3% |
| Other operating charges | 640/8 | €1,108 | €1,143 | +€35 | +3.2% |
| Operating profit (loss) | 9901 | €21,138 | €528 | -€20,610 | -97.5% |
| Financial charges | 65/66B | €191 | €364 | +€173 | +90.6% |
| Recurring financial charges | 65 | €191 | €364 | +€173 | +90.6% |
| Other financial charges | 652/9 | €191 | €364 | +€173 | +90.6% |
| Profit (loss) for the period before taxes | 9903 | €20,947 | €164 | -€20,783 | -99.2% |
| Income taxes | 67/77 | €5,708 | €381 | -€5,327 | -93.3% |
| Taxes | 670/3 | €5,708 | €381 | -€5,327 | -93.3% |
| Profit (loss) for the period | 9904 | €15,239 | -€217 | -€15,456 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,239 | -€217 | -€15,456 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.