PANIWO: 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.
PANIWO
Largest movements
- Tangible fixed assets -€8,495
down €8,495 (-77.3%), from €10,996 to €2,501
of which Furniture and vehicles: -€8,200
- Receivables within one year +€1,780
up €1,780 (+7.3%), from €24,324 to €26,104
of which Other amounts receivable: +€987
- Cash +€531
up €531 (+5.1%), from €10,414 to €10,945
mainly Depreciation (+€8,495) and Net result for the year (+€1,180)
- Current portion of long-term debt -€3,494
no longer reported in 2025 (was €3,494)
- Tax, wage and social debts -€1,973
down €1,973 (-20.3%), from €9,732 to €7,759
of which Remuneration and social security: -€2,500
- Trade debts -€1,878
down €1,878 (-20.2%), from €9,285 to €7,408
- Profit (loss) carried forward +€1,180
up €1,180 (+72.2%), from -€1,633 to -€453
- Gross operating margin +€5,699
up €5,699 (+119%), from €4,794 to €10,493
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.
Derived cash bridge
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 | €46,337 | €40,172 | -€6,165 | -13.3% |
| Fixed assets | 21/28 | €10,996 | €2,501 | -€8,495 | -77.3% |
| Tangible fixed assets | 22/27 | €10,996 | €2,501 | -€8,495 | -77.3% |
| Plant, machinery and equipment | 23 | €482 | €187 | -€295 | -61.1% |
| Furniture and vehicles | 24 | €10,514 | €2,314 | -€8,200 | -78.0% |
| Current assets | 29/58 | €35,340 | €37,671 | +€2,330 | +6.6% |
| Amounts receivable within one year | 40/41 | €24,324 | €26,104 | +€1,780 | +7.3% |
| Trade receivables | 40 | €24,311 | €25,104 | +€793 | +3.3% |
| Other amounts receivable | 41 | €13 | €1,000 | +€987 | +7,592% |
| Cash at bank and in hand | 54/58 | €10,414 | €10,945 | +€531 | +5.1% |
| Deferred charges and accrued income | 490/1 | €602 | €621 | +€19 | +3.1% |
| Total equity and liabilities | 10/49 | €46,337 | €40,172 | -€6,165 | -13.3% |
| Equity | 10/15 | €4,930 | €6,110 | +€1,180 | +23.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €363 | €363 | = | 0.0% |
| Non-distributable reserves | 130/1 | €363 | €363 | = | 0.0% |
| Reserves not available under the articles | 1311 | €363 | €363 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,633 | -€453 | +€1,180 | +72.2% |
| Amounts payable | 17/49 | €41,407 | €34,062 | -€7,344 | -17.7% |
| Amounts payable within one year | 42/48 | €41,407 | €34,062 | -€7,344 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €3,494 | - | -€3,494 | |
| Trade debts | 44 | €9,285 | €7,408 | -€1,878 | -20.2% |
| Suppliers | 440/4 | €9,285 | €7,408 | -€1,878 | -20.2% |
| Advances received on contracts in progress | 46 | €13,552 | €13,552 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €9,732 | €7,759 | -€1,973 | -20.3% |
| Taxes | 450/3 | €4,732 | €5,259 | +€527 | +11.1% |
| Remuneration and social security | 454/9 | €5,000 | €2,500 | -€2,500 | -50.0% |
| Other amounts payable | 47/48 | €5,343 | €5,343 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,495 | €8,495 | = | 0.0% |
| Other operating charges | 640/8 | €233 | €227 | -€7 | -2.8% |
| Gross operating margin | 9900 | €4,794 | €10,493 | +€5,699 | +119% |
| Operating profit (loss) | 9901 | -€3,934 | €1,772 | +€5,705 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €263 | €214 | -€49 | -18.6% |
| Recurring financial charges | 65 | €263 | €214 | -€49 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,196 | €1,558 | +€5,754 | |
| Income taxes | 67/77 | €393 | €378 | -€15 | -3.9% |
| Profit (loss) for the period | 9904 | -€4,590 | €1,180 | +€5,770 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,590 | €1,180 | +€5,770 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.