PANTEK: 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.
PANTEK
Largest movements
- Cash +€365,102
up €365,102 (+30.2%), from €1.2m to €1.6m
mainly Other debts (+€213,908) and Current investments (+€192,914)
- Current investments -€192,914
down €192,914 (-51.5%), from €374,611 to €181,697
- Tangible fixed assets -€51,462
down €51,462 (-10.4%), from €496,539 to €445,078
of which Land and buildings: -€28,178
- Receivables within one year -€34,857
down €34,857 (-11.8%), from €296,347 to €261,491
of which Trade receivables: -€35,376
- Other debts +€213,908
up €213,908 (+35.0%), from €610,614 to €824,522
- Reserves -€65,658
down €65,658 (-3.8%), from €1.7m to €1.7m
- Debts after one year -€50,000
down €50,000 (-40.4%), from €123,692 to €73,692
- Gross operating margin -€110,233
down €110,233 (-22.5%), from €490,940 to €380,707
- Taxes -€33,501
down €33,501 (-46.6%), from €71,966 to €38,465
- Depreciation -€8,483
down €8,483 (-14.2%), from €59,945 to €51,462
- Write-downs +€6,038
up €6,038 (+698.8%), from €864 to €6,902
- Financial income +€5,036
up €5,036 (+21.7%), from €23,204 to €28,240
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.
Cash bridge derived
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 | €2,557,458 | €2,636,499 | +€79,041 | +3.1% |
| Fixed assets | 21/28 | €496,539 | €445,078 | -€51,462 | -10.4% |
| Tangible fixed assets | 22/27 | €496,539 | €445,078 | -€51,462 | -10.4% |
| Land and buildings | 22 | €445,815 | €417,637 | -€28,178 | -6.3% |
| Plant, machinery and equipment | 23 | €5,493 | €4,103 | -€1,391 | -25.3% |
| Furniture and vehicles | 24 | €35,669 | €14,976 | -€20,693 | -58.0% |
| Other tangible fixed assets | 26 | €9,562 | €8,362 | -€1,200 | -12.6% |
| Current assets | 29/58 | €2,060,918 | €2,191,421 | +€130,503 | +6.3% |
| Stocks and contracts in progress | 3 | €174,523 | €168,543 | -€5,980 | -3.4% |
| Stocks | 30/36 | €174,523 | €168,543 | -€5,980 | -3.4% |
| Amounts receivable within one year | 40/41 | €296,347 | €261,491 | -€34,857 | -11.8% |
| Trade receivables | 40 | €248,844 | €213,468 | -€35,376 | -14.2% |
| Other amounts receivable | 41 | €47,503 | €48,023 | +€519 | +1.1% |
| Current investments | 50/53 | €374,611 | €181,697 | -€192,914 | -51.5% |
| Cash at bank and in hand | 54/58 | €1,209,316 | €1,574,418 | +€365,102 | +30.2% |
| Deferred charges and accrued income | 490/1 | €6,121 | €5,272 | -€849 | -13.9% |
| Total equity and liabilities | 10/49 | €2,557,458 | €2,636,499 | +€79,041 | +3.1% |
| Equity | 10/15 | €1,765,981 | €1,700,323 | -€65,658 | -3.7% |
| Contributions | 10/11 | €27,500 | €27,500 | = | 0.0% |
| Reserves | 13 | €1,738,481 | €1,672,823 | -€65,658 | -3.8% |
| Distributable reserves | 133 | €1,738,481 | €1,672,823 | -€65,658 | -3.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €791,476 | €936,176 | +€144,700 | +18.3% |
| Amounts payable after more than one year | 17 | €123,692 | €73,692 | -€50,000 | -40.4% |
| Financial debts | 170/4 | €123,692 | €73,692 | -€50,000 | -40.4% |
| Amounts payable within one year | 42/48 | €667,316 | €861,996 | +€194,680 | +29.2% |
| Trade debts | 44 | €21,228 | €10,659 | -€10,569 | -49.8% |
| Suppliers | 440/4 | €21,228 | €10,659 | -€10,569 | -49.8% |
| Taxes, remuneration and social security | 45 | €35,474 | €26,815 | -€8,659 | -24.4% |
| Taxes | 450/3 | €17,045 | €9,982 | -€7,064 | -41.4% |
| Remuneration and social security | 454/9 | €18,429 | €16,833 | -€1,596 | -8.7% |
| Other amounts payable | 47/48 | €610,614 | €824,522 | +€213,908 | +35.0% |
| Accrued charges and deferred income | 492/3 | €468 | €488 | +€20 | +4.3% |
| Non-recurring operating income | 76A | €129 | €0 | -€129 | -100.0% |
| Remuneration, social security and pensions | 62 | €165,018 | €164,038 | -€980 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,945 | €51,462 | -€8,483 | -14.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €864 | €6,902 | +€6,038 | +698.8% |
| Other operating charges | 640/8 | €7,077 | €7,305 | +€228 | +3.2% |
| Gross operating margin | 9900 | €490,940 | €380,707 | -€110,233 | -22.5% |
| Operating profit (loss) | 9901 | €258,035 | €151,000 | -€107,035 | -41.5% |
| Financial income | 75/76B | €23,204 | €28,240 | +€5,036 | +21.7% |
| Recurring financial income | 75 | €23,204 | €28,240 | +€5,036 | +21.7% |
| Financial charges | 65/66B | €44,880 | €46,882 | +€2,002 | +4.5% |
| Recurring financial charges | 65 | €44,880 | €46,882 | +€2,002 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €236,360 | €132,359 | -€104,001 | -44.0% |
| Income taxes | 67/77 | €71,966 | €38,465 | -€33,501 | -46.6% |
| Profit (loss) for the period | 9904 | €164,394 | €93,894 | -€70,500 | -42.9% |
| Profit (loss) for the period to be appropriated | 9905 | €164,394 | €93,894 | -€70,500 | -42.9% |
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 10 October 2026 via checked.be.