Panterland: 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.
Panterland
Largest movements
- Stocks and contracts +€57,499
up €57,499 (+147%), from €39,070 to €96,569
- Cash +€16,464
up €16,464 (+83.4%), from €19,732 to €36,196
mainly Other debts (+€24,951) and Net result for the year (+€23,294)
- Receivables within one year -€14,352
down €14,352 (-86.1%), from €16,670 to €2,318
- Tangible fixed assets -€2,795
down €2,795 (-24.3%), from €11,479 to €8,684
- Other debts +€24,951
up €24,951 (+54.7%), from €45,651 to €70,602
- Profit (loss) carried forward +€23,294
up €23,294 (+281%), from €8,286 to €31,580
- Tax, wage and social debts +€3,196
up €3,196 (+29.3%), from €10,908 to €14,104
- Trade debts +€2,768
up €2,768 (+19.0%), from €14,561 to €17,330
- Accrued charges and deferred income +€2,617
up €2,617 (+44.9%), from €5,829 to €8,446
- Gross operating margin +€11,860
up €11,860 (+53.1%), from €22,333 to €34,192
- Taxes +€3,628
up €3,628 (+213%), from €1,706 to €5,334
- Financial charges -€3,319
down €3,319 (-76.5%), from €4,338 to €1,019
- Other operating charges -€2,231
down €2,231 (-54.1%), from €4,126 to €1,895
- Depreciation -€1,495
down €1,495 (-34.9%), from €4,290 to €2,795
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 | €87,235 | €144,062 | +€56,826 | +65.1% |
| Fixed assets | 21/28 | €11,479 | €8,684 | -€2,795 | -24.3% |
| Tangible fixed assets | 22/27 | €11,479 | €8,684 | -€2,795 | -24.3% |
| Plant, machinery and equipment | 23 | €2,724 | €1,962 | -€762 | -28.0% |
| Furniture and vehicles | 24 | €4,168 | €2,772 | -€1,396 | -33.5% |
| Other tangible fixed assets | 26 | €4,587 | €3,950 | -€637 | -13.9% |
| Current assets | 29/58 | €75,757 | €135,378 | +€59,621 | +78.7% |
| Stocks and contracts in progress | 3 | €39,070 | €96,569 | +€57,499 | +147% |
| Stocks | 30/36 | €39,070 | €96,569 | +€57,499 | +147% |
| Amounts receivable within one year | 40/41 | €16,670 | €2,318 | -€14,352 | -86.1% |
| Trade receivables | 40 | €16,670 | €2,318 | -€14,352 | -86.1% |
| Cash at bank and in hand | 54/58 | €19,732 | €36,196 | +€16,464 | +83.4% |
| Deferred charges and accrued income | 490/1 | €285 | €295 | +€10 | +3.6% |
| Total equity and liabilities | 10/49 | €87,235 | €144,062 | +€56,826 | +65.1% |
| Equity | 10/15 | €10,286 | €33,580 | +€23,294 | +226% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,286 | €31,580 | +€23,294 | +281% |
| Amounts payable | 17/49 | €76,949 | €110,481 | +€33,532 | +43.6% |
| Amounts payable within one year | 42/48 | €71,120 | €102,036 | +€30,915 | +43.5% |
| Trade debts | 44 | €14,561 | €17,330 | +€2,768 | +19.0% |
| Suppliers | 440/4 | €14,561 | €17,330 | +€2,768 | +19.0% |
| Taxes, remuneration and social security | 45 | €10,908 | €14,104 | +€3,196 | +29.3% |
| Taxes | 450/3 | €10,908 | €14,104 | +€3,196 | +29.3% |
| Other amounts payable | 47/48 | €45,651 | €70,602 | +€24,951 | +54.7% |
| Accrued charges and deferred income | 492/3 | €5,829 | €8,446 | +€2,617 | +44.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,290 | €2,795 | -€1,495 | -34.9% |
| Other operating charges | 640/8 | €4,126 | €1,895 | -€2,231 | -54.1% |
| Gross operating margin | 9900 | €22,333 | €34,192 | +€11,860 | +53.1% |
| Operating profit (loss) | 9901 | €13,917 | €29,503 | +€15,586 | +112% |
| Financial income | 75/76B | €413 | €144 | -€269 | -65.2% |
| Recurring financial income | 75 | €413 | €144 | -€269 | -65.2% |
| Financial charges | 65/66B | €4,338 | €1,019 | -€3,319 | -76.5% |
| Recurring financial charges | 65 | €4,338 | €1,019 | -€3,319 | -76.5% |
| Profit (loss) for the period before taxes | 9903 | €9,992 | €28,628 | +€18,636 | +187% |
| Income taxes | 67/77 | €1,706 | €5,334 | +€3,628 | +213% |
| Profit (loss) for the period | 9904 | €8,286 | €23,294 | +€15,008 | +181% |
| Profit (loss) for the period to be appropriated | 9905 | €8,286 | €23,294 | +€15,008 | +181% |
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 17 October 2026 via checked.be.