PANNENSLAG GRO: 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.
What changed
PANNENSLAG GRO
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€2,336
2024 · €6,424-€8,760
Equity
€408,309
2024 · €410,645-€2,336
Cash
€11,179
2024 · €31,334-€20,155
Balance sheet total
€1.4m
2024 · €1.4m+€32,179
Largest movements
Assets
- Stocks and contracts +€54,336
up €54,336 (+4.0%), from €1.4m to €1.4m
- Cash -€20,155
down €20,155 (-64.3%), from €31,334 to €11,179
mainly Stocks and contracts (-€54,336) and Tax, wage and social debts (-€2,406)
Equity and liabilities
- Debts after one year +€22,700
up €22,700 (+2.4%), from €965,300 to €988,000
of which Financial debts: +€24,500
Income statement
No income-statement line moved by more than 1% of the activity.
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.
Result 2024
€6,424
Write-downs
-€9,939
Other operating charges
-€587
Other operating items
+€69
Financial charges
-€710
Taxes
+€2,406
Result 2025
-€2,336
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€42,855
Investment
€0
Financing
+€22,700
Cash 2024
€31,334
From operations (derived)
-€42,855
Net result for the year
-€2,336
Stocks and contracts
-€54,336
Receivables within one year
+€201
Deferred charges and accrued income
+€1,800
Trade debts
+€4,803
Tax, wage and social debts
-€2,406
Accrued charges and deferred income
+€9,419
Financing
+€22,700
Debts after one year
+€22,700
Cash 2025
€11,179
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,396,393 | €1,428,572 | +€32,179 | +2.3% |
| Current assets | 29/58 | €1,396,393 | €1,428,572 | +€32,179 | +2.3% |
| Stocks and contracts in progress | 3 | €1,363,057 | €1,417,393 | +€54,336 | +4.0% |
| Stocks | 30/36 | €1,363,057 | €1,417,393 | +€54,336 | +4.0% |
| Property held for sale | 35 | €1,363,057 | €1,417,393 | +€54,336 | +4.0% |
| Amounts receivable within one year | 40/41 | €201 | €0 | -€201 | -100% |
| Trade receivables | 40 | €201 | €0 | -€201 | -100% |
| Cash at bank and in hand | 54/58 | €31,334 | €11,179 | -€20,155 | -64.3% |
| Deferred charges and accrued income | 490/1 | €1,800 | €0 | -€1,800 | -100% |
| Total equity and liabilities | 10/49 | €1,396,393 | €1,428,572 | +€32,179 | +2.3% |
| Equity | 10/15 | €410,645 | €408,309 | -€2,336 | -0.6% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €532 | €532 | = | 0.0% |
| Non-distributable reserves | 130/1 | €532 | €532 | = | 0.0% |
| Legal reserve | 130 | €532 | €532 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,113 | €7,777 | -€2,336 | -23.1% |
| Amounts payable | 17/49 | €985,747 | €1,020,263 | +€34,516 | +3.5% |
| Amounts payable after more than one year | 17 | €965,300 | €988,000 | +€22,700 | +2.4% |
| Financial debts | 170/4 | €963,500 | €988,000 | +€24,500 | +2.5% |
| Credit institutions | 173 | €838,500 | €838,000 | -€500 | -0.1% |
| Other loans | 174 | €125,000 | €150,000 | +€25,000 | +20.0% |
| Other amounts payable | 178/9 | €1,800 | €0 | -€1,800 | -100% |
| Amounts payable within one year | 42/48 | €5,035 | €7,432 | +€2,396 | +47.6% |
| Trade debts | 44 | €2,629 | €7,432 | +€4,803 | +183% |
| Suppliers | 440/4 | €2,629 | €7,432 | +€4,803 | +183% |
| Taxes, remuneration and social security | 45 | €2,406 | €0 | -€2,406 | -100% |
| Taxes | 450/3 | €2,406 | €0 | -€2,406 | -100% |
| Accrued charges and deferred income | 492/3 | €15,412 | €24,831 | +€9,419 | +61.1% |
| Operating income | 70/76A | €29,118 | €31,121 | +€2,003 | +6.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €12,113 | €10,382 | -€1,731 | -14.3% |
| Other operating income | 74 | €17,005 | €20,740 | +€3,735 | +22.0% |
| Operating charges | 60/66A | €19,167 | €31,626 | +€12,460 | +65.0% |
| Goods for resale, raw materials and consumables | 60 | €12,113 | €9,682 | -€2,431 | -20.1% |
| Purchases | 600/8 | €12,113 | €9,682 | -€2,431 | -20.1% |
| Services and other goods | 61 | €4,132 | €8,497 | +€4,366 | +106% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,939 | +€9,939 | |
| Other operating charges | 640/8 | €2,922 | €3,509 | +€587 | +20.1% |
| Operating profit (loss) | 9901 | €9,951 | -€505 | -€10,456 | |
| Financial charges | 65/66B | €1,121 | €1,831 | +€710 | +63.3% |
| Recurring financial charges | 65 | €1,121 | €1,831 | +€710 | +63.3% |
| Debt charges | 650 | €57 | €703 | +€646 | +1,132% |
| Other financial charges | 652/9 | €1,064 | €1,128 | +€63 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | €8,830 | -€2,336 | -€11,166 | |
| Income taxes | 67/77 | €2,406 | €0 | -€2,406 | -100% |
| Taxes | 670/3 | €2,406 | €0 | -€2,406 | -100% |
| Profit (loss) for the period | 9904 | €6,424 | -€2,336 | -€8,760 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,424 | -€2,336 | -€8,760 |
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 31 October 2026 via checked.be.