PANTA RHEI: what changed
PANTA RHEI
Largest movements
- Current investments -€1.0m
down €1.0m (-100%), from €1.0m to €0
- Cash +€837,740
up €837,740 (+343%), from €244,387 to €1.1m
mainly Current investments (+€1.0m) and Depreciation (+€152,062)
- Tangible fixed assets -€89,340
down €89,340 (-2.5%), from €3.6m to €3.5m
of which Land and buildings: -€77,396
- Receivables within one year +€69,871
up €69,871 (+36.4%), from €192,029 to €261,900
of which Trade receivables: +€72,765
- Profit (loss) carried forward -€1.9m
down €1.9m (-88.0%), from €2.2m to €262,128
- Reserves +€1.9m
up €1.9m (+332%), from €578,820 to €2.5m
- Debts after one year -€100,000
down €100,000 (-5.9%), from €1.7m to €1.6m
of which Financial debts: -€100,000
- Gross operating margin +€101,291
up €101,291 (+29.3%), from €345,908 to €447,199
- Staff costs +€47,551
up €47,551 (+27.3%), from €174,002 to €221,553
- Financial income -€11,386
down €11,386 (-47.4%), from €24,026 to €12,640
of which Financial income: -€11,386
- Financial charges +€6,679
up €6,679 (+8.0%), from €83,897 to €90,575
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,052,211 | €4,863,202 | -€189,009 | -3.7% |
| Fixed assets | 21/28 | €3,606,037 | €3,516,697 | -€89,340 | -2.5% |
| Tangible fixed assets | 22/27 | €3,606,037 | €3,516,697 | -€89,340 | -2.5% |
| Land and buildings | 22 | €3,414,360 | €3,336,964 | -€77,396 | -2.3% |
| Plant, machinery and equipment | 23 | €19,535 | €9,375 | -€10,160 | -52.0% |
| Furniture and vehicles | 24 | €172,141 | €170,357 | -€1,784 | -1.0% |
| Current assets | 29/58 | €1,446,174 | €1,346,506 | -€99,669 | -6.9% |
| Amounts receivable within one year | 40/41 | €192,029 | €261,900 | +€69,871 | +36.4% |
| Trade receivables | 40 | €184,720 | €257,485 | +€72,765 | +39.4% |
| Other amounts receivable | 41 | €7,309 | €4,415 | -€2,894 | -39.6% |
| Current investments | 50/53 | €1,000,000 | €0 | -€1.0m | -100% |
| Cash at bank and in hand | 54/58 | €244,387 | €1,082,127 | +€837,740 | +343% |
| Deferred charges and accrued income | 490/1 | €9,758 | €2,479 | -€7,279 | -74.6% |
| Total equity and liabilities | 10/49 | €5,052,211 | €4,863,202 | -€189,009 | -3.7% |
| Equity | 10/15 | €2,970,438 | €2,962,128 | -€8,309 | -0.3% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €578,820 | €2,500,000 | +€1.9m | +332% |
| Distributable reserves | 133 | €578,820 | €2,500,000 | +€1.9m | +332% |
| Profit (loss) carried forward | 14 | €2,191,618 | €262,128 | -€1.9m | -88.0% |
| Amounts payable | 17/49 | €2,081,773 | €1,901,074 | -€180,699 | -8.7% |
| Amounts payable after more than one year | 17 | €1,700,000 | €1,600,000 | -€100,000 | -5.9% |
| Financial debts | 170/4 | €600,000 | €500,000 | -€100,000 | -16.7% |
| Other amounts payable | 178/9 | €1,100,000 | €1,100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €250,344 | €217,363 | -€32,981 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €101,232 | €77,726 | -€23,507 | -23.2% |
| Suppliers | 440/4 | €101,232 | €77,726 | -€23,507 | -23.2% |
| Taxes, remuneration and social security | 45 | €40,290 | €30,691 | -€9,598 | -23.8% |
| Taxes | 450/3 | €11,656 | €7,082 | -€4,573 | -39.2% |
| Remuneration and social security | 454/9 | €28,634 | €23,609 | -€5,025 | -17.5% |
| Other amounts payable | 47/48 | €8,822 | €8,946 | +€124 | +1.4% |
| Accrued charges and deferred income | 492/3 | €131,430 | €83,711 | -€47,718 | -36.3% |
| Remuneration, social security and pensions | 62 | €174,002 | €221,553 | +€47,551 | +27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €150,537 | €152,062 | +€1,525 | +1.0% |
| Other operating charges | 640/8 | €3,370 | €3,958 | +€588 | +17.4% |
| Gross operating margin | 9900 | €345,908 | €447,199 | +€101,291 | +29.3% |
| Operating profit (loss) | 9901 | €17,999 | €69,626 | +€51,627 | +287% |
| Financial income | 75/76B | €24,026 | €12,640 | -€11,386 | -47.4% |
| Recurring financial income | 75 | €24,026 | €12,640 | -€11,386 | -47.4% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €83,897 | €90,575 | +€6,679 | +8.0% |
| Recurring financial charges | 65 | €83,897 | €90,575 | +€6,679 | +8.0% |
| Profit (loss) for the period before taxes | 9903 | -€41,871 | -€8,309 | +€33,562 | +80.2% |
| Profit (loss) for the period | 9904 | -€41,871 | -€8,309 | +€33,562 | +80.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,871 | -€8,309 | +€33,562 | +80.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.