PANOFOODS: 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.
PANOFOODS
Largest movements
- Tangible fixed assets -€91,837
down €91,837 (-19.9%), from €462,639 to €370,803
of which Plant, machinery and equipment: -€54,294
- Cash +€7,478
up €7,478 (+25.2%), from €29,634 to €37,111
mainly Depreciation (+€93,756) and Trade debts (+€34,532)
- Deferred charges and accrued income +€6,735
up €6,735 (+42.3%), from €15,906 to €22,641
- Other debts -€51,852
down €51,852 (-27.9%), from €186,035 to €134,183
- Debts after one year -€39,676
down €39,676 (-17.3%), from €229,405 to €189,729
- Trade debts +€34,532
up €34,532 (+469.8%), from €7,350 to €41,882
- Profit (loss) carried forward -€16,455
new in 2025: -€16,455
- Tax, wage and social debts +€11,719
up €11,719 (+117.5%), from €9,972 to €21,691
of which Remuneration and social security: +€6,678
- Gross operating margin -€75,290
down €75,290 (-37.7%), from €199,713 to €124,423
- Staff costs +€35,090
up €35,090 (+281.3%), from €12,475 to €47,564
- Taxes -€13,726
down €13,726 (-97.4%), from €14,093 to €367
- Depreciation -€3,022
down €3,022 (-3.1%), from €96,778 to €93,756
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 | €652,208 | €579,979 | -€72,230 | -11.1% |
| Fixed assets | 21/28 | €462,639 | €370,803 | -€91,837 | -19.9% |
| Tangible fixed assets | 22/27 | €462,639 | €370,803 | -€91,837 | -19.9% |
| Plant, machinery and equipment | 23 | €246,769 | €192,475 | -€54,294 | -22.0% |
| Furniture and vehicles | 24 | €25,988 | €15,175 | -€10,813 | -41.6% |
| Other tangible fixed assets | 26 | €189,883 | €163,153 | -€26,729 | -14.1% |
| Current assets | 29/58 | €189,569 | €209,176 | +€19,607 | +10.3% |
| Stocks and contracts in progress | 3 | €30,902 | €37,416 | +€6,514 | +21.1% |
| Stocks | 30/36 | €30,902 | €37,416 | +€6,514 | +21.1% |
| Amounts receivable within one year | 40/41 | €113,128 | €112,009 | -€1,119 | -1.0% |
| Trade receivables | 40 | €109,104 | €98,872 | -€10,231 | -9.4% |
| Other amounts receivable | 41 | €4,024 | €13,136 | +€9,112 | +226.4% |
| Cash at bank and in hand | 54/58 | €29,634 | €37,111 | +€7,478 | +25.2% |
| Deferred charges and accrued income | 490/1 | €15,906 | €22,641 | +€6,735 | +42.3% |
| Total equity and liabilities | 10/49 | €652,208 | €579,979 | -€72,230 | -11.1% |
| Equity | 10/15 | €180,897 | €152,818 | -€28,079 | -15.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Other | 1109/19 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €175,897 | €164,272 | -€11,624 | -6.6% |
| Distributable reserves | 133 | €175,897 | €164,272 | -€11,624 | -6.6% |
| Profit (loss) carried forward | 14 | - | -€16,455 | -€16,455 | |
| Amounts payable | 17/49 | €471,312 | €427,161 | -€44,151 | -9.4% |
| Amounts payable after more than one year | 17 | €229,405 | €189,729 | -€39,676 | -17.3% |
| Financial debts | 170/4 | €229,405 | €189,729 | -€39,676 | -17.3% |
| Amounts payable within one year | 42/48 | €241,907 | €237,432 | -€4,475 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €38,550 | €39,676 | +€1,126 | +2.9% |
| Trade debts | 44 | €7,350 | €41,882 | +€34,532 | +469.8% |
| Suppliers | 440/4 | €7,350 | €41,882 | +€34,532 | +469.8% |
| Taxes, remuneration and social security | 45 | €9,972 | €21,691 | +€11,719 | +117.5% |
| Taxes | 450/3 | €9,093 | €14,134 | +€5,041 | +55.4% |
| Remuneration and social security | 454/9 | €879 | €7,557 | +€6,678 | +760.2% |
| Other amounts payable | 47/48 | €186,035 | €134,183 | -€51,852 | -27.9% |
| Remuneration, social security and pensions | 62 | €12,475 | €47,564 | +€35,090 | +281.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,778 | €93,756 | -€3,022 | -3.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €417 | +€417 | |
| Other operating charges | 640/8 | €2,085 | €3,630 | +€1,545 | +74.1% |
| Gross operating margin | 9900 | €199,713 | €124,423 | -€75,290 | -37.7% |
| Operating profit (loss) | 9901 | €88,374 | -€20,945 | -€109,319 | |
| Financial income | 75/76B | €1,068 | - | -€1,068 | |
| Recurring financial income | 75 | €1,068 | - | -€1,068 | |
| Financial charges | 65/66B | €7,821 | €6,767 | -€1,054 | -13.5% |
| Recurring financial charges | 65 | €7,821 | €6,767 | -€1,054 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €81,622 | -€27,712 | -€109,333 | |
| Income taxes | 67/77 | €14,093 | €367 | -€13,726 | -97.4% |
| Profit (loss) for the period | 9904 | €67,528 | -€28,079 | -€95,607 | |
| Profit (loss) for the period to be appropriated | 9905 | €67,528 | -€28,079 | -€95,607 |
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.