Pantarein: 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.
Pantarein
Largest movements
- Cash +€2.0m
up €2.0m (+17,658%), from €11,305 to €2.0m
mainly Net result for the year (+€1.6m) and Investment in fixed assets (net) (+€399,970)
- Financial fixed assets -€399,970
down €399,970 (-100%), from €399,970 to €0
- Profit (loss) carried forward +€1.6m
up €1.6m, from -€10,497 to €1.6m
- Financial income +€1.6m
up €1.6m (+5,333,433,233%), from €0 to €1.6m
- Gross operating margin +€3,171
up €3,171 (+171%), from €1,853 to €5,024
- Depreciation +€1,105
up €1,105 (+100%), from €1,105 to €2,209
- Financial charges +€423
up €423 (+26.4%), from €1,606 to €2,030
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 | €454,360 | €2,048,447 | +€1.6m | +351% |
| Fixed assets | 21/28 | €443,055 | €40,876 | -€402,179 | -90.8% |
| Tangible fixed assets | 22/27 | €43,085 | €40,876 | -€2,209 | -5.1% |
| Plant, machinery and equipment | 23 | €43,085 | €40,876 | -€2,209 | -5.1% |
| Financial fixed assets | 28 | €399,970 | €0 | -€399,970 | -100% |
| Current assets | 29/58 | €11,305 | €2,007,571 | +€2.0m | +17,658% |
| Cash at bank and in hand | 54/58 | €11,305 | €2,007,571 | +€2.0m | +17,658% |
| Total equity and liabilities | 10/49 | €454,360 | €2,048,447 | +€1.6m | +351% |
| Equity | 10/15 | €389,503 | €1,989,768 | +€1.6m | +411% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €0 | - | = | |
| Issued capital | 100 | €0 | - | = | |
| Contributions outside capital | 11 | €400,000 | €400,000 | = | 0.0% |
| Other | 1109/19 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,497 | €1,589,768 | +€1.6m | |
| Amounts payable | 17/49 | €64,858 | €58,679 | -€6,179 | -9.5% |
| Amounts payable after more than one year | 17 | €34,881 | €28,954 | -€5,927 | -17.0% |
| Financial debts | 170/4 | €34,881 | €28,954 | -€5,927 | -17.0% |
| Amounts payable within one year | 42/48 | €29,976 | €29,725 | -€252 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €5,670 | €5,927 | +€258 | +4.5% |
| Trade debts | 44 | €780 | €0 | -€780 | -100% |
| Suppliers | 440/4 | €780 | €0 | -€780 | -100% |
| Taxes, remuneration and social security | 45 | €148 | €418 | +€271 | +184% |
| Taxes | 450/3 | €148 | €418 | +€271 | +184% |
| Other amounts payable | 47/48 | €23,379 | €23,379 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,105 | €2,209 | +€1,105 | +100% |
| Other operating charges | 640/8 | €535 | €550 | +€14 | +2.7% |
| Gross operating margin | 9900 | €1,853 | €5,024 | +€3,171 | +171% |
| Operating profit (loss) | 9901 | €213 | €2,265 | +€2,052 | +964% |
| Financial income | 75/76B | €0 | €1,600,030 | +€1.6m | +5,333,433,233% |
| Recurring financial income | 75 | €0 | €1,600,030 | +€1.6m | +5,333,433,233% |
| Financial charges | 65/66B | €1,606 | €2,030 | +€423 | +26.4% |
| Recurring financial charges | 65 | €1,606 | €2,030 | +€423 | +26.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,393 | €1,600,265 | +€1.6m | |
| Profit (loss) for the period | 9904 | -€1,393 | €1,600,265 | +€1.6m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,393 | €1,600,265 | +€1.6m |
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 30 October 2026 via checked.be.