Panteon: 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.
Panteon
Largest movements
- Cash -€16,477
down €16,477 (-8.0%), from €206,840 to €190,364
mainly Other debts (-€25,937) and Contributions, distributions and other (-€22,215)
- Tangible fixed assets -€15,915
down €15,915 (-8.7%), from €183,574 to €167,659
of which Other tangible fixed assets: -€13,211
- Receivables within one year +€9,811
up €9,811, from €0 to €9,811
- Other debts -€25,937
down €25,937 (-91.4%), from €28,377 to €2,440
- Reserves +€23,675
up €23,675 (+18.3%), from €129,087 to €152,762
- Debts after one year -€11,130
down €11,130 (-6.6%), from €169,884 to €158,755
- Current portion of long-term debt -€4,579
down €4,579 (-29.2%), from €15,709 to €11,130
- Depreciation -€12,850
down €12,850 (-43.6%), from €29,449 to €16,599
- Gross operating margin -€4,666
down €4,666 (-3.1%), from €151,987 to €147,321
- Staff costs +€2,893
up €2,893 (+5.2%), from €56,094 to €58,987
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 | €400,324 | €378,936 | -€21,388 | -5.3% |
| Fixed assets | 21/28 | €183,904 | €167,989 | -€15,915 | -8.7% |
| Tangible fixed assets | 22/27 | €183,574 | €167,659 | -€15,915 | -8.7% |
| Plant, machinery and equipment | 23 | €10,988 | €8,657 | -€2,331 | -21.2% |
| Furniture and vehicles | 24 | €838 | €466 | -€372 | -44.4% |
| Other tangible fixed assets | 26 | €171,748 | €158,536 | -€13,211 | -7.7% |
| Financial fixed assets | 28 | €330 | €330 | = | 0.0% |
| Current assets | 29/58 | €216,420 | €210,947 | -€5,473 | -2.5% |
| Stocks and contracts in progress | 3 | €7,890 | €8,092 | +€202 | +2.6% |
| Stocks | 30/36 | €7,890 | €8,092 | +€202 | +2.6% |
| Amounts receivable within one year | 40/41 | €0 | €9,811 | +€9,811 | |
| Other amounts receivable | 41 | €0 | €9,811 | +€9,811 | |
| Cash at bank and in hand | 54/58 | €206,840 | €190,364 | -€16,477 | -8.0% |
| Deferred charges and accrued income | 490/1 | €1,690 | €2,680 | +€990 | +58.6% |
| Total equity and liabilities | 10/49 | €400,324 | €378,936 | -€21,388 | -5.3% |
| Equity | 10/15 | €135,287 | €158,962 | +€23,675 | +17.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €129,087 | €152,762 | +€23,675 | +18.3% |
| Distributable reserves | 133 | €129,087 | €152,762 | +€23,675 | +18.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €265,037 | €219,974 | -€45,063 | -17.0% |
| Amounts payable after more than one year | 17 | €169,884 | €158,755 | -€11,130 | -6.6% |
| Financial debts | 170/4 | €169,884 | €158,755 | -€11,130 | -6.6% |
| Amounts payable within one year | 42/48 | €94,768 | €60,820 | -€33,948 | -35.8% |
| Current portion of amounts payable after more than one year | 42 | €15,709 | €11,130 | -€4,579 | -29.2% |
| Trade debts | 44 | €13,339 | €10,824 | -€2,515 | -18.9% |
| Suppliers | 440/4 | €13,339 | €10,824 | -€2,515 | -18.9% |
| Taxes, remuneration and social security | 45 | €37,342 | €36,426 | -€917 | -2.5% |
| Taxes | 450/3 | €21,178 | €23,815 | +€2,637 | +12.4% |
| Remuneration and social security | 454/9 | €16,164 | €12,611 | -€3,553 | -22.0% |
| Other amounts payable | 47/48 | €28,377 | €2,440 | -€25,937 | -91.4% |
| Accrued charges and deferred income | 492/3 | €384 | €400 | +€15 | +4.0% |
| Remuneration, social security and pensions | 62 | €56,094 | €58,987 | +€2,893 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,449 | €16,599 | -€12,850 | -43.6% |
| Other operating charges | 640/8 | €2,759 | €3,456 | +€698 | +25.3% |
| Gross operating margin | 9900 | €151,987 | €147,321 | -€4,666 | -3.1% |
| Operating profit (loss) | 9901 | €63,685 | €68,279 | +€4,594 | +7.2% |
| Financial income | 75/76B | €129 | €83 | -€46 | -35.6% |
| Recurring financial income | 75 | €129 | €83 | -€46 | -35.6% |
| Financial charges | 65/66B | €5,068 | €4,894 | -€174 | -3.4% |
| Recurring financial charges | 65 | €5,068 | €4,894 | -€174 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €58,747 | €63,468 | +€4,722 | +8.0% |
| Income taxes | 67/77 | €16,236 | €17,578 | +€1,342 | +8.3% |
| Profit (loss) for the period | 9904 | €42,511 | €45,890 | +€3,379 | +7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €42,511 | €45,890 | +€3,379 | +7.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.