PANORAMA: 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.
PANORAMA
Largest movements
- Tangible fixed assets -€41,650
down €41,650 (-24.9%), from €167,081 to €125,432
- Receivables within one year +€5,922
up €5,922 (+40.4%), from €14,655 to €20,578
of which Other amounts receivable: +€4,660
- Cash +€5,520
up €5,520 (+172.4%), from €3,203 to €8,723
mainly Other debts (+€50,231) and Depreciation (+€41,650)
- Profit (loss) carried forward -€57,819
down €57,819 (-32.1%), from -€180,022 to -€237,842
- Other debts +€50,231
up €50,231 (+79.2%), from €63,388 to €113,619
- Debts after one year -€45,637
down €45,637 (-64.2%), from €71,041 to €25,404
- Trade debts +€20,090
up €20,090 (+50.4%), from €39,833 to €59,923
- Tax, wage and social debts +€5,288
up €5,288 (+19.5%), from €27,162 to €32,450
of which Taxes: +€15,567
- Staff costs -€82,916
down €82,916 (-47.6%), from €174,048 to €91,132
- Depreciation -€24,085
down €24,085 (-36.6%), from €65,734 to €41,650
- Financial charges -€9,062
down €9,062 (-51.8%), from €17,483 to €8,421
- Gross operating margin -€3,352
down €3,352 (-3.8%), from €87,398 to €84,047
- Other operating charges -€875
down €875 (-56.9%), from €1,539 to €664
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €188,790 | €158,582 | -€30,207 | -16.0% |
| Fixed assets | 21/28 | €170,931 | €129,282 | -€41,650 | -24.4% |
| Tangible fixed assets | 22/27 | €167,081 | €125,432 | -€41,650 | -24.9% |
| Plant, machinery and equipment | 23 | €167,081 | €125,432 | -€41,650 | -24.9% |
| Financial fixed assets | 28 | €3,850 | €3,850 | = | 0.0% |
| Current assets | 29/58 | €17,858 | €29,300 | +€11,442 | +64.1% |
| Amounts receivable within one year | 40/41 | €14,655 | €20,578 | +€5,922 | +40.4% |
| Trade receivables | 40 | €2,563 | €3,825 | +€1,262 | +49.2% |
| Other amounts receivable | 41 | €12,093 | €16,753 | +€4,660 | +38.5% |
| Cash at bank and in hand | 54/58 | €3,203 | €8,723 | +€5,520 | +172.4% |
| Total equity and liabilities | 10/49 | €188,790 | €158,582 | -€30,207 | -16.0% |
| Equity | 10/15 | -€97,265 | -€155,084 | -€57,819 | -59.4% |
| Contributions | 10/11 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Reserves | 13 | €62,298 | €64,158 | +€1,860 | +3.0% |
| Distributable reserves | 133 | €62,298 | €64,158 | +€1,860 | +3.0% |
| Profit (loss) carried forward | 14 | -€180,022 | -€237,842 | -€57,819 | -32.1% |
| Amounts payable | 17/49 | €286,054 | €313,666 | +€27,612 | +9.7% |
| Amounts payable after more than one year | 17 | €71,041 | €25,404 | -€45,637 | -64.2% |
| Financial debts | 170/4 | €71,041 | €25,404 | -€45,637 | -64.2% |
| Amounts payable within one year | 42/48 | €215,014 | €288,262 | +€73,249 | +34.1% |
| Current portion of amounts payable after more than one year | 42 | €50,587 | €49,046 | -€1,541 | -3.0% |
| Financial debts | 43 | €34,043 | €33,224 | -€819 | -2.4% |
| Credit institutions | 430/8 | €34,043 | €33,224 | -€819 | -2.4% |
| Trade debts | 44 | €39,833 | €59,923 | +€20,090 | +50.4% |
| Suppliers | 440/4 | €39,833 | €59,923 | +€20,090 | +50.4% |
| Taxes, remuneration and social security | 45 | €27,162 | €32,450 | +€5,288 | +19.5% |
| Taxes | 450/3 | €13,292 | €28,859 | +€15,567 | +117.1% |
| Remuneration and social security | 454/9 | €13,870 | €3,591 | -€10,279 | -74.1% |
| Other amounts payable | 47/48 | €63,388 | €113,619 | +€50,231 | +79.2% |
| Remuneration, social security and pensions | 62 | €174,048 | €91,132 | -€82,916 | -47.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,734 | €41,650 | -€24,085 | -36.6% |
| Other operating charges | 640/8 | €1,539 | €664 | -€875 | -56.9% |
| Gross operating margin | 9900 | €87,398 | €84,047 | -€3,352 | -3.8% |
| Operating profit (loss) | 9901 | -€153,923 | -€49,399 | +€104,524 | +67.9% |
| Financial charges | 65/66B | €17,483 | €8,421 | -€9,062 | -51.8% |
| Recurring financial charges | 65 | €17,483 | €8,421 | -€9,062 | -51.8% |
| Profit (loss) for the period before taxes | 9903 | -€171,406 | -€57,819 | +€113,586 | +66.3% |
| Profit (loss) for the period | 9904 | -€171,406 | -€57,819 | +€113,586 | +66.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€171,406 | -€57,819 | +€113,586 | +66.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.