PANTERA: what changed
Two fiscal 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.
PANTERA
Largest movements
- Tangible fixed assets -€11,820
down €11,820 (-25.7%), from €45,981 to €34,162
of which Furniture and vehicles: -€11,428
- Cash -€8,260
down €8,260 (-35.1%), from €23,537 to €15,277
mainly Contributions, distributions and other (-€62,280) and Trade debts (-€22,134)
- Trade debts -€22,134
down €22,134 (-98.4%), from €22,500 to €366
- Gross operating margin +€8,334
up €8,334 (+9.5%), from €87,448 to €95,782
- Taxes +€2,746
up €2,746 (+14.6%), from €18,755 to €21,502
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 | €519,036 | €505,129 | -€13,907 | -2.7% |
| Fixed assets | 21/28 | €474,547 | €462,728 | -€11,820 | -2.5% |
| Tangible fixed assets | 22/27 | €45,981 | €34,162 | -€11,820 | -25.7% |
| Plant, machinery and equipment | 23 | €1,565 | €1,173 | -€392 | -25.0% |
| Furniture and vehicles | 24 | €44,416 | €32,989 | -€11,428 | -25.7% |
| Financial fixed assets | 28 | €428,566 | €428,566 | = | 0.0% |
| Current assets | 29/58 | €44,489 | €42,401 | -€2,088 | -4.7% |
| Amounts receivable within one year | 40/41 | €19,685 | €24,514 | +€4,830 | +24.5% |
| Trade receivables | 40 | €14,920 | €14,776 | -€144 | -1.0% |
| Other amounts receivable | 41 | €4,764 | €9,738 | +€4,974 | +104.4% |
| Current investments | 50/53 | - | €61 | +€61 | |
| Cash at bank and in hand | 54/58 | €23,537 | €15,277 | -€8,260 | -35.1% |
| Deferred charges and accrued income | 490/1 | €1,267 | €2,549 | +€1,282 | +101.2% |
| Total equity and liabilities | 10/49 | €519,036 | €505,129 | -€13,907 | -2.7% |
| Equity | 10/15 | €109,844 | €109,844 | = | 0.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €84,844 | €84,844 | = | 0.0% |
| Distributable reserves | 133 | €84,844 | €84,844 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €409,192 | €395,284 | -€13,907 | -3.4% |
| Amounts payable within one year | 42/48 | €409,192 | €395,284 | -€13,907 | -3.4% |
| Financial debts | 43 | €72 | €998 | +€927 | +1294.2% |
| Credit institutions | 430/8 | €72 | €998 | +€927 | +1294.2% |
| Trade debts | 44 | €22,500 | €366 | -€22,134 | -98.4% |
| Suppliers | 440/4 | €22,500 | €366 | -€22,134 | -98.4% |
| Taxes, remuneration and social security | 45 | €1,023 | €5,889 | +€4,867 | +476.0% |
| Taxes | 450/3 | €1,023 | €5,889 | +€4,867 | +476.0% |
| Other amounts payable | 47/48 | €385,598 | €388,031 | +€2,434 | +0.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,531 | €11,820 | -€711 | -5.7% |
| Other operating charges | 640/8 | €239 | €85 | -€154 | -64.3% |
| Gross operating margin | 9900 | €87,448 | €95,782 | +€8,334 | +9.5% |
| Operating profit (loss) | 9901 | €74,678 | €83,876 | +€9,199 | +12.3% |
| Financial income | 75/76B | €65 | €0 | -€65 | -99.6% |
| Recurring financial income | 75 | €65 | €0 | -€65 | -99.6% |
| Financial charges | 65/66B | €102 | €95 | -€8 | -7.6% |
| Recurring financial charges | 65 | €102 | €95 | -€8 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €74,640 | €83,782 | +€9,142 | +12.2% |
| Income taxes | 67/77 | €18,755 | €21,502 | +€2,746 | +14.6% |
| Profit (loss) for the period | 9904 | €55,885 | €62,280 | +€6,395 | +11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,885 | €62,280 | +€6,395 | +11.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.