Panter Pneus: 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.
Panter Pneus
Largest movements
- Receivables within one year +€72,520
up €72,520 (+50.0%), from €145,018 to €217,538
of which Trade receivables: +€61,097
- Cash -€19,850
down €19,850 (-49.9%), from €39,783 to €19,933
mainly Receivables within one year (-€72,520) and Investment in fixed assets (net) (-€23,551)
- Deferred charges and accrued income -€8,298
down €8,298 (-56.4%), from €14,723 to €6,425
- Stocks and contracts +€4,684
up €4,684 (+7.4%), from €63,501 to €68,185
- Advances received +€33,391
up €33,391 (+22.7%), from €146,882 to €180,273
- Trade debts +€16,307
up €16,307 (+91.6%), from €17,795 to €34,103
- Tax, wage and social debts +€5,466
up €5,466 (+25.6%), from €21,387 to €26,853
of which Remuneration and social security: +€9,233
- Other operating charges +€14,100
up €14,100 (+183%), from €7,705 to €21,805
- Gross operating margin +€10,642
up €10,642 (+13.4%), from €79,665 to €90,306
- Depreciation +€5,296
up €5,296 (+32.4%), from €16,350 to €21,647
- Taxes -€3,910
down €3,910 (-69.6%), from €5,615 to €1,705
- Staff costs -€1,075
down €1,075 (-2.5%), from €43,855 to €42,780
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 | €296,296 | €347,257 | +€50,960 | +17.2% |
| Fixed assets | 21/28 | €33,271 | €35,175 | +€1,904 | +5.7% |
| Tangible fixed assets | 22/27 | €29,505 | €31,409 | +€1,904 | +6.5% |
| Plant, machinery and equipment | 23 | €5,887 | €789 | -€5,098 | -86.6% |
| Furniture and vehicles | 24 | €23,618 | €30,621 | +€7,002 | +29.6% |
| Financial fixed assets | 28 | €3,766 | €3,766 | = | 0.0% |
| Current assets | 29/58 | €263,025 | €312,081 | +€49,056 | +18.7% |
| Stocks and contracts in progress | 3 | €63,501 | €68,185 | +€4,684 | +7.4% |
| Stocks | 30/36 | €63,501 | €68,185 | +€4,684 | +7.4% |
| Amounts receivable within one year | 40/41 | €145,018 | €217,538 | +€72,520 | +50.0% |
| Trade receivables | 40 | €145,000 | €206,097 | +€61,097 | +42.1% |
| Other amounts receivable | 41 | €18 | €11,441 | +€11,423 | +63,110% |
| Cash at bank and in hand | 54/58 | €39,783 | €19,933 | -€19,850 | -49.9% |
| Deferred charges and accrued income | 490/1 | €14,723 | €6,425 | -€8,298 | -56.4% |
| Total equity and liabilities | 10/49 | €296,296 | €347,257 | +€50,960 | +17.2% |
| Equity | 10/15 | -€14,563 | -€15,519 | -€956 | -6.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €70,459 | €70,459 | = | 0.0% |
| Non-distributable reserves | 130/1 | €65,794 | €65,794 | = | 0.0% |
| Reserves not available under the articles | 1311 | €65,000 | €65,000 | = | 0.0% |
| Own shares acquired | 1312 | €794 | €794 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,665 | €4,665 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€103,623 | -€104,578 | -€956 | -0.9% |
| Amounts payable | 17/49 | €310,860 | €362,776 | +€51,916 | +16.7% |
| Amounts payable after more than one year | 17 | €7,500 | €7,500 | = | 0.0% |
| Other amounts payable | 178/9 | €7,500 | €7,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €302,446 | €355,276 | +€52,829 | +17.5% |
| Financial debts | 43 | €35,000 | €35,000 | = | 0.0% |
| Credit institutions | 430/8 | €35,000 | €35,000 | = | 0.0% |
| Trade debts | 44 | €17,795 | €34,103 | +€16,307 | +91.6% |
| Suppliers | 440/4 | €17,795 | €34,103 | +€16,307 | +91.6% |
| Advances received on contracts in progress | 46 | €146,882 | €180,273 | +€33,391 | +22.7% |
| Taxes, remuneration and social security | 45 | €21,387 | €26,853 | +€5,466 | +25.6% |
| Taxes | 450/3 | €20,726 | €16,959 | -€3,767 | -18.2% |
| Remuneration and social security | 454/9 | €660 | €9,894 | +€9,233 | +1,398% |
| Other amounts payable | 47/48 | €81,383 | €79,048 | -€2,335 | -2.9% |
| Accrued charges and deferred income | 492/3 | €913 | - | -€913 | |
| Remuneration, social security and pensions | 62 | €43,855 | €42,780 | -€1,075 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,350 | €21,647 | +€5,296 | +32.4% |
| Other operating charges | 640/8 | €7,705 | €21,805 | +€14,100 | +183% |
| Gross operating margin | 9900 | €79,665 | €90,306 | +€10,642 | +13.4% |
| Operating profit (loss) | 9901 | €11,754 | €4,075 | -€7,679 | -65.3% |
| Financial income | 75/76B | €0 | €2 | +€2 | +398% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +398% |
| Financial charges | 65/66B | €2,408 | €3,328 | +€920 | +38.2% |
| Recurring financial charges | 65 | €2,408 | €3,328 | +€920 | +38.2% |
| Profit (loss) for the period before taxes | 9903 | €9,346 | €749 | -€8,597 | -92.0% |
| Income taxes | 67/77 | €5,615 | €1,705 | -€3,910 | -69.6% |
| Profit (loss) for the period | 9904 | €3,731 | -€956 | -€4,687 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,731 | -€956 | -€4,687 |
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 21 October 2026 via checked.be.