Pannadiam: 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.
Pannadiam
Largest movements
- Stocks and contracts -€105,433
down €105,433 (-17.8%), from €592,323 to €486,889
- Receivables within one year -€22,359
down €22,359 (-58.2%), from €38,401 to €16,043
of which Trade receivables: -€21,687
- Profit (loss) carried forward -€163,630
new in 2025: -€163,630
- Tax, wage and social debts +€46,129
up €46,129 (+76.1%), from €60,602 to €106,731
of which Remuneration and social security: +€45,483
- Trade debts -€8,254
down €8,254 (-10.9%), from €75,769 to €67,514
- Gross operating margin -€335,559
down €335,559, from €203,519 to -€132,040
- Financial income +€22,965
up €22,965 (+74.1%), from €30,971 to €53,936
- Staff costs -€18,009
down €18,009 (-35.1%), from €51,321 to €33,311
- Financial charges +€14,176
up €14,176 (+38.1%), from €37,227 to €51,403
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 | €634,695 | €507,031 | -€127,663 | -20.1% |
| Fixed assets | 21/28 | €1,500 | €1,500 | = | 0.0% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €633,195 | €505,531 | -€127,663 | -20.2% |
| Stocks and contracts in progress | 3 | €592,323 | €486,889 | -€105,433 | -17.8% |
| Stocks | 30/36 | €592,323 | €486,889 | -€105,433 | -17.8% |
| Amounts receivable within one year | 40/41 | €38,401 | €16,043 | -€22,359 | -58.2% |
| Trade receivables | 40 | €36,711 | €15,024 | -€21,687 | -59.1% |
| Other amounts receivable | 41 | €1,690 | €1,018 | -€672 | -39.7% |
| Cash at bank and in hand | 54/58 | €2,471 | €1,849 | -€621 | -25.1% |
| Deferred charges and accrued income | 490/1 | - | €750 | +€750 | |
| Total equity and liabilities | 10/49 | €634,695 | €507,031 | -€127,663 | -20.1% |
| Equity | 10/15 | €495,153 | €331,523 | -€163,630 | -33.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €476,553 | €476,553 | = | 0.0% |
| Distributable reserves | 133 | €476,553 | €476,553 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€163,630 | -€163,630 | |
| Amounts payable | 17/49 | €139,542 | €175,508 | +€35,967 | +25.8% |
| Amounts payable within one year | 42/48 | €139,542 | €175,508 | +€35,967 | +25.8% |
| Trade debts | 44 | €75,769 | €67,514 | -€8,254 | -10.9% |
| Suppliers | 440/4 | €75,769 | €67,514 | -€8,254 | -10.9% |
| Taxes, remuneration and social security | 45 | €60,602 | €106,731 | +€46,129 | +76.1% |
| Taxes | 450/3 | - | €646 | +€646 | |
| Remuneration and social security | 454/9 | €60,602 | €106,085 | +€45,483 | +75.1% |
| Other amounts payable | 47/48 | €3,171 | €1,263 | -€1,908 | -60.2% |
| Remuneration, social security and pensions | 62 | €51,321 | €33,311 | -€18,009 | -35.1% |
| Other operating charges | 640/8 | €580 | €195 | -€385 | -66.4% |
| Gross operating margin | 9900 | €203,519 | -€132,040 | -€335,559 | |
| Operating profit (loss) | 9901 | €151,618 | -€165,547 | -€317,165 | |
| Financial income | 75/76B | €30,971 | €53,936 | +€22,965 | +74.1% |
| Recurring financial income | 75 | €30,971 | €53,936 | +€22,965 | +74.1% |
| Financial charges | 65/66B | €37,227 | €51,403 | +€14,176 | +38.1% |
| Recurring financial charges | 65 | €37,227 | €51,403 | +€14,176 | +38.1% |
| Profit (loss) for the period before taxes | 9903 | €145,362 | -€163,014 | -€308,376 | |
| Income taxes | 67/77 | €706 | €616 | -€91 | -12.9% |
| Profit (loss) for the period | 9904 | €144,655 | -€163,630 | -€308,285 | |
| Profit (loss) for the period to be appropriated | 9905 | €144,655 | -€163,630 | -€308,285 |
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 27 October 2026 via checked.be.