Panorama-sur-Semois: 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-sur-Semois
Largest movements
- Receivables within one year -€65,823
down €65,823 (-20.9%), from €314,576 to €248,753
of which Other amounts receivable: -€89,544
- Cash +€48,307
up €48,307 (+66.8%), from €72,314 to €120,621
mainly Other debts (+€134,910) and Depreciation (+€127,698)
- Other debts +€134,910
up €134,910 (+20.1%), from €670,000 to €804,910
- Profit (loss) carried forward -€111,757
down €111,757 (-165%), from -€67,627 to -€179,385
- Tax, wage and social debts -€37,686
down €37,686 (-26.4%), from €142,709 to €105,023
of which Remuneration and social security: -€22,984
- Debts after one year -€35,727
down €35,727 (-6.8%), from €529,236 to €493,509
of which Financial debts: -€29,824
- Gross operating margin -€157,252
down €157,252 (-18.4%), from €852,986 to €695,735
- Staff costs -€114,594
down €114,594 (-15.1%), from €758,320 to €643,726
- Depreciation -€10,261
down €10,261 (-7.4%), from €137,958 to €127,698
- Financial income -€9,177
down €9,177 (-33.4%), from €27,506 to €18,329
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 | €2,116,968 | €2,074,579 | -€42,389 | -2.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,688,950 | €1,677,232 | -€11,718 | -0.7% |
| Intangible fixed assets | 21 | €149,713 | €132,433 | -€17,280 | -11.5% |
| Tangible fixed assets | 22/27 | €1,538,955 | €1,544,517 | +€5,562 | +0.4% |
| Land and buildings | 22 | €1,165,725 | €1,126,666 | -€39,059 | -3.4% |
| Plant, machinery and equipment | 23 | €174,488 | €219,827 | +€45,339 | +26.0% |
| Furniture and vehicles | 24 | €198,743 | €198,024 | -€718 | -0.4% |
| Financial fixed assets | 28 | €282 | €282 | = | 0.0% |
| Current assets | 29/58 | €428,018 | €397,347 | -€30,671 | -7.2% |
| Stocks and contracts in progress | 3 | €41,128 | €27,973 | -€13,156 | -32.0% |
| Stocks | 30/36 | €41,128 | €27,973 | -€13,156 | -32.0% |
| Amounts receivable within one year | 40/41 | €314,576 | €248,753 | -€65,823 | -20.9% |
| Trade receivables | 40 | €23,635 | €47,356 | +€23,721 | +100% |
| Other amounts receivable | 41 | €290,941 | €201,397 | -€89,544 | -30.8% |
| Cash at bank and in hand | 54/58 | €72,314 | €120,621 | +€48,307 | +66.8% |
| Total equity and liabilities | 10/49 | €2,116,968 | €2,074,579 | -€42,389 | -2.0% |
| Equity | 10/15 | €666,648 | €536,573 | -€130,075 | -19.5% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,627 | -€179,385 | -€111,757 | -165% |
| Investment grants | 15 | €234,275 | €215,957 | -€18,317 | -7.8% |
| Provisions and deferred taxes | 16 | €19,019 | €17,532 | -€1,487 | -7.8% |
| Deferred taxes | 168 | €19,019 | €17,532 | -€1,487 | -7.8% |
| Amounts payable | 17/49 | €1,431,301 | €1,520,474 | +€89,173 | +6.2% |
| Amounts payable after more than one year | 17 | €529,236 | €493,509 | -€35,727 | -6.8% |
| Financial debts | 170/4 | €523,333 | €493,509 | -€29,824 | -5.7% |
| Trade debts | 175 | €5,903 | - | -€5,903 | |
| Amounts payable within one year | 42/48 | €902,065 | €1,026,964 | +€124,899 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €44,167 | €53,228 | +€9,062 | +20.5% |
| Trade debts | 44 | €37,515 | €55,247 | +€17,731 | +47.3% |
| Suppliers | 440/4 | €37,515 | €55,247 | +€17,731 | +47.3% |
| Advances received on contracts in progress | 46 | €7,674 | €8,557 | +€883 | +11.5% |
| Taxes, remuneration and social security | 45 | €142,709 | €105,023 | -€37,686 | -26.4% |
| Taxes | 450/3 | €25,686 | €10,983 | -€14,703 | -57.2% |
| Remuneration and social security | 454/9 | €117,023 | €94,039 | -€22,984 | -19.6% |
| Other amounts payable | 47/48 | €670,000 | €804,910 | +€134,910 | +20.1% |
| Remuneration, social security and pensions | 62 | €758,320 | €643,726 | -€114,594 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,958 | €127,698 | -€10,261 | -7.4% |
| Other operating charges | 640/8 | €15,770 | €20,106 | +€4,335 | +27.5% |
| Gross operating margin | 9900 | €852,986 | €695,735 | -€157,252 | -18.4% |
| Operating profit (loss) | 9901 | -€59,063 | -€95,794 | -€36,732 | -62.2% |
| Financial income | 75/76B | €27,506 | €18,329 | -€9,177 | -33.4% |
| Recurring financial income | 75 | €27,506 | €18,329 | -€9,177 | -33.4% |
| Financial charges | 65/66B | €38,301 | €35,779 | -€2,522 | -6.6% |
| Recurring financial charges | 65 | €38,301 | €35,779 | -€2,522 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | -€69,858 | -€113,245 | -€43,387 | -62.1% |
| Transfer from deferred taxes | 780 | €2,231 | €1,487 | -€744 | -33.3% |
| Profit (loss) for the period | 9904 | -€67,627 | -€111,757 | -€44,130 | -65.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€67,627 | -€111,757 | -€44,130 | -65.3% |
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 25 October 2026 via checked.be.