PANNU: 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.
PANNU
Largest movements
- Cash -€6,240
down €6,240 (-63.7%), from €9,795 to €3,555
mainly Stocks and contracts (-€6,101) and Investment in fixed assets (net) (-€3,996)
- Stocks and contracts +€6,101
up €6,101 (+8.7%), from €70,082 to €76,184
- Receivables within one year +€2,140
new in 2025: €2,140
- Trade debts +€4,915
up €4,915 (+153.9%), from €3,195 to €8,110
- Debts after one year -€2,927
down €2,927 (-23.9%), from €12,234 to €9,307
- Tax, wage and social debts -€2,908
down €2,908 (-31.6%), from €9,217 to €6,309
- Profit (loss) carried forward +€1,878
up €1,878 (+3.7%), from €51,237 to €53,115
- Other debts +€1,684
up €1,684 (+10.3%), from €16,360 to €18,044
- Turnover -€52,375
down €52,375 (-17.2%), from €304,834 to €252,459
- Purchases and services -€31,091
down €31,091 (-10.5%), from €296,329 to €265,238
- Staff costs -€6,359
no longer reported in 2025 (was €6,359)
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 | €96,055 | €98,912 | +€2,858 | +3.0% |
| Fixed assets | 21/28 | €16,178 | €17,004 | +€826 | +5.1% |
| Tangible fixed assets | 22/27 | €16,178 | €17,004 | +€826 | +5.1% |
| Furniture and vehicles | 24 | €3,408 | €4,754 | +€1,346 | +39.5% |
| Other tangible fixed assets | 26 | €12,769 | €12,250 | -€520 | -4.1% |
| Current assets | 29/58 | €79,877 | €81,909 | +€2,031 | +2.5% |
| Stocks and contracts in progress | 3 | €70,082 | €76,184 | +€6,101 | +8.7% |
| Stocks | 30/36 | €70,082 | €76,184 | +€6,101 | +8.7% |
| Amounts receivable within one year | 40/41 | - | €2,140 | +€2,140 | |
| Other amounts receivable | 41 | - | €2,140 | +€2,140 | |
| Cash at bank and in hand | 54/58 | €9,795 | €3,555 | -€6,240 | -63.7% |
| Deferred charges and accrued income | 490/1 | - | €30 | +€30 | |
| Total equity and liabilities | 10/49 | €96,055 | €98,912 | +€2,858 | +3.0% |
| Equity | 10/15 | €52,337 | €54,215 | +€1,878 | +3.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,237 | €53,115 | +€1,878 | +3.7% |
| Amounts payable | 17/49 | €43,718 | €44,697 | +€979 | +2.2% |
| Amounts payable after more than one year | 17 | €12,234 | €9,307 | -€2,927 | -23.9% |
| Financial debts | 170/4 | €12,234 | €9,307 | -€2,927 | -23.9% |
| Amounts payable within one year | 42/48 | €31,483 | €35,390 | +€3,907 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €2,712 | €2,927 | +€216 | +7.9% |
| Trade debts | 44 | €3,195 | €8,110 | +€4,915 | +153.9% |
| Suppliers | 440/4 | €3,195 | €8,110 | +€4,915 | +153.9% |
| Taxes, remuneration and social security | 45 | €9,217 | €6,309 | -€2,908 | -31.6% |
| Taxes | 450/3 | €9,217 | €6,309 | -€2,908 | -31.6% |
| Other amounts payable | 47/48 | €16,360 | €18,044 | +€1,684 | +10.3% |
| Turnover | 70 | €304,834 | €252,459 | -€52,375 | -17.2% |
| Non-recurring operating income | 76A | - | €11,072 | +€11,072 | |
| Goods, raw materials, services and sundry goods | 60/61 | €296,329 | €265,238 | -€31,091 | -10.5% |
| Remuneration, social security and pensions | 62 | €6,359 | - | -€6,359 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €291 | €3,170 | +€2,879 | +990.0% |
| Other operating charges | 640/8 | €4,159 | €2,735 | -€1,424 | -34.2% |
| Non-recurring operating charges | 66A | - | €99 | +€99 | |
| Gross operating margin | 9900 | €13,584 | €14,468 | +€884 | +6.5% |
| Operating profit (loss) | 9901 | €2,775 | €8,464 | +€5,689 | +205.0% |
| Financial income | 75/76B | €247 | €1 | -€246 | -99.7% |
| Recurring financial income | 75 | €247 | €1 | -€246 | -99.7% |
| Financial charges | 65/66B | €2,343 | €2,905 | +€562 | +24.0% |
| Recurring financial charges | 65 | €2,343 | €2,905 | +€562 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | €680 | €5,560 | +€4,880 | +718.1% |
| Income taxes | 67/77 | €4,951 | €3,682 | -€1,269 | -25.6% |
| Profit (loss) for the period | 9904 | -€4,271 | €1,878 | +€6,149 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,271 | €1,878 | +€6,149 |
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 11 October 2026 via checked.be.