Panotti: 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.
Panotti
Largest movements
- Cash +€12,167
up €12,167 (+83.5%), from €14,577 to €26,744
mainly Net result for the year (+€14,946) and Tax, wage and social debts (+€4,536)
- Receivables within one year +€5,957
new in 2025: €5,957
of which Other amounts receivable: +€4,957
- Financial fixed assets -€2,315
down €2,315 (-66.1%), from €3,500 to €1,185
- Tangible fixed assets +€816
up €816 (+28.7%), from €2,844 to €3,661
of which Furniture and vehicles: +€1,456
- Profit (loss) carried forward +€14,946
up €14,946 (+214%), from €6,974 to €21,920
- Tax, wage and social debts +€4,536
up €4,536 (+88.3%), from €5,136 to €9,672
of which Taxes: +€4,722
- Short-term financial debts -€4,150
no longer reported in 2025 (was €4,150)
- Trade debts +€1,294
up €1,294 (+64.4%), from €2,007 to €3,301
- Turnover +€75,857
up €75,857 (+66.7%), from €113,749 to €189,606
- Purchases and services +€74,531
up €74,531 (+68.3%), from €109,128 to €183,659
- Gross operating margin +€16,113
up €16,113 (+110%), from €14,667 to €30,779
- Taxes +€3,252
up €3,252 (+175%), from €1,858 to €5,110
- Other operating charges +€3,150
up €3,150 (+50.3%), from €6,264 to €9,414
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 | €22,278 | €38,902 | +€16,625 | +74.6% |
| Fixed assets | 21/28 | €6,344 | €4,846 | -€1,499 | -23.6% |
| Tangible fixed assets | 22/27 | €2,844 | €3,661 | +€816 | +28.7% |
| Plant, machinery and equipment | 23 | €1,776 | €1,136 | -€640 | -36.0% |
| Furniture and vehicles | 24 | €1,068 | €2,525 | +€1,456 | +136% |
| Financial fixed assets | 28 | €3,500 | €1,185 | -€2,315 | -66.1% |
| Current assets | 29/58 | €15,933 | €34,057 | +€18,124 | +114% |
| Stocks and contracts in progress | 3 | €1,357 | €1,357 | = | 0.0% |
| Stocks | 30/36 | €1,357 | €1,357 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €5,957 | +€5,957 | |
| Trade receivables | 40 | - | €1,000 | +€1,000 | |
| Other amounts receivable | 41 | - | €4,957 | +€4,957 | |
| Cash at bank and in hand | 54/58 | €14,577 | €26,744 | +€12,167 | +83.5% |
| Total equity and liabilities | 10/49 | €22,278 | €38,902 | +€16,625 | +74.6% |
| Equity | 10/15 | €10,974 | €25,920 | +€14,946 | +136% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,974 | €21,920 | +€14,946 | +214% |
| Amounts payable | 17/49 | €11,303 | €12,982 | +€1,679 | +14.9% |
| Amounts payable within one year | 42/48 | €11,303 | €12,982 | +€1,679 | +14.9% |
| Financial debts | 43 | €4,150 | - | -€4,150 | |
| Credit institutions | 430/8 | €4,150 | - | -€4,150 | |
| Trade debts | 44 | €2,007 | €3,301 | +€1,294 | +64.4% |
| Suppliers | 440/4 | €2,007 | €3,301 | +€1,294 | +64.4% |
| Taxes, remuneration and social security | 45 | €5,136 | €9,672 | +€4,536 | +88.3% |
| Taxes | 450/3 | €4,950 | €9,672 | +€4,722 | +95.4% |
| Remuneration and social security | 454/9 | €186 | - | -€186 | |
| Other amounts payable | 47/48 | €10 | €10 | = | 0.0% |
| Turnover | 70 | €113,749 | €189,606 | +€75,857 | +66.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €109,128 | €183,659 | +€74,531 | +68.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €475 | €1,279 | +€804 | +169% |
| Other operating charges | 640/8 | €6,264 | €9,414 | +€3,150 | +50.3% |
| Gross operating margin | 9900 | €14,667 | €30,779 | +€16,113 | +110% |
| Operating profit (loss) | 9901 | €7,928 | €20,087 | +€12,159 | +153% |
| Financial income | 75/76B | - | €262 | +€262 | |
| Recurring financial income | 75 | - | €262 | +€262 | |
| Financial charges | 65/66B | €102 | €292 | +€191 | +188% |
| Recurring financial charges | 65 | €102 | €292 | +€191 | +188% |
| Profit (loss) for the period before taxes | 9903 | €7,827 | €20,056 | +€12,230 | +156% |
| Income taxes | 67/77 | €1,858 | €5,110 | +€3,252 | +175% |
| Profit (loss) for the period | 9904 | €5,968 | €14,946 | +€8,978 | +150% |
| Profit (loss) for the period to be appropriated | 9905 | €5,968 | €14,946 | +€8,978 | +150% |
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 18 October 2026 via checked.be.