PANNA: 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.
PANNA
Largest movements
- Receivables within one year -€20,045
down €20,045 (-61.2%), from €32,754 to €12,709
of which Trade receivables: -€20,941
- Tangible fixed assets +€9,484
new in 2025: €9,484
of which Furniture and vehicles: +€8,128
- Tax, wage and social debts -€19,862
down €19,862 (-97.5%), from €20,367 to €505
- Reserves +€6,363
up €6,363 (+6.2%), from €101,930 to €108,293
of which Distributable reserves: +€6,363
- Gross operating margin -€58,737
down €58,737 (-85.1%), from €69,054 to €10,317
- Taxes -€21,834
down €21,834, from €20,367 to -€1,467
- Depreciation +€1,886
new in 2025: €1,886
- Financial charges +€1,389
up €1,389 (+69.0%), from €2,013 to €3,402
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 | €245,511 | €234,659 | -€10,853 | -4.4% |
| Fixed assets | 21/28 | - | €9,484 | +€9,484 | |
| Tangible fixed assets | 22/27 | - | €9,484 | +€9,484 | |
| Plant, machinery and equipment | 23 | - | €1,357 | +€1,357 | |
| Furniture and vehicles | 24 | - | €8,128 | +€8,128 | |
| Current assets | 29/58 | €245,511 | €225,174 | -€20,337 | -8.3% |
| Amounts receivable within one year | 40/41 | €32,754 | €12,709 | -€20,045 | -61.2% |
| Trade receivables | 40 | €28,759 | €7,818 | -€20,941 | -72.8% |
| Other amounts receivable | 41 | €3,995 | €4,891 | +€896 | +22.4% |
| Cash at bank and in hand | 54/58 | €212,757 | €212,465 | -€292 | -0.1% |
| Total equity and liabilities | 10/49 | €245,511 | €234,659 | -€10,853 | -4.4% |
| Equity | 10/15 | €108,130 | €114,493 | +€6,363 | +5.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €101,930 | €108,293 | +€6,363 | +6.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €100,070 | €106,433 | +€6,363 | +6.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €137,381 | €120,166 | -€17,215 | -12.5% |
| Amounts payable within one year | 42/48 | €137,381 | €120,166 | -€17,215 | -12.5% |
| Trade debts | 44 | €3,100 | €4,456 | +€1,356 | +43.8% |
| Suppliers | 440/4 | €3,100 | €4,456 | +€1,356 | +43.8% |
| Taxes, remuneration and social security | 45 | €20,367 | €505 | -€19,862 | -97.5% |
| Taxes | 450/3 | €20,367 | €505 | -€19,862 | -97.5% |
| Other amounts payable | 47/48 | €113,914 | €115,204 | +€1,290 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,886 | +€1,886 | |
| Other operating charges | 640/8 | - | €133 | +€133 | |
| Gross operating margin | 9900 | €69,054 | €10,317 | -€58,737 | -85.1% |
| Operating profit (loss) | 9901 | €69,054 | €8,298 | -€60,756 | -88.0% |
| Financial income | 75/76B | €0 | €0 | +€0 | +400% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +400% |
| Financial charges | 65/66B | €2,013 | €3,402 | +€1,389 | +69.0% |
| Recurring financial charges | 65 | €2,013 | €3,402 | +€1,389 | +69.0% |
| Profit (loss) for the period before taxes | 9903 | €67,041 | €4,896 | -€62,145 | -92.7% |
| Income taxes | 67/77 | €20,367 | -€1,467 | -€21,834 | |
| Profit (loss) for the period | 9904 | €46,674 | €6,363 | -€40,311 | -86.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,674 | €6,363 | -€40,311 | -86.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.