PANTHEON - VASTGOED: what changed
What changed
PANTHEON - VASTGOED
NACE 68.310, Real estate agency activities
filed annual accounts (NBB)
Net result for the year
€57,538
2024 · €24,033+€33,505
Equity
€74,449
2024 · €16,911+€57,538
Cash
€58,502
2024 · €3,230+€55,272
Balance sheet total
€169,626
2024 · €119,771+€49,855
Largest movements
Assets
- Cash +€55,272
up €55,272 (+1,711%), from €3,230 to €58,502
mainly Debts after one year (+€62,000) and Net result for the year (+€57,538)
- Tangible fixed assets -€11,432
down €11,432 (-10.2%), from €112,409 to €100,977
of which Land and buildings: -€6,466
- Deferred charges and accrued income +€4,000
new in 2025: €4,000
- Receivables within one year +€2,015
up €2,015 (+51.1%), from €3,947 to €5,962
of which Trade receivables: +€1,913
Equity and liabilities
- Other debts -€83,761
no longer reported in 2025 (was €83,761)
- Debts after one year +€62,000
new in 2025: €62,000
- Profit (loss) carried forward +€57,538
up €57,538 (+733%), from €7,847 to €65,385
- Trade debts +€14,354
up €14,354 (+197%), from €7,278 to €21,632
Income statement
- Turnover +€46,049
up €46,049 (+26.0%), from €177,116 to €223,165
- Gross operating margin +€42,105
up €42,105 (+51.2%), from €82,316 to €124,421
- Staff costs +€8,829
up €8,829 (+20.2%), from €43,697 to €52,526
- Purchases and services +€3,944
up €3,944 (+4.2%), from €94,800 to €98,744
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€24,033
Gross operating margin
+€42,105
Staff costs
-€8,829
Depreciation
+€784
Other operating charges
-€138
Financial income
-€291
Financial charges
-€126
Result 2025
€57,538
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€5,953
Investment
-€775
Financing
+€62,000
Cash 2024
€3,230
From operations (derived)
-€5,953
Net result for the year
+€57,538
Depreciation
+€12,207
Receivables within one year
-€2,015
Deferred charges and accrued income
-€4,000
Trade debts
+€14,354
Tax, wage and social debts
-€276
Other debts
-€83,761
Investment (derived)
-€775
Investment in fixed assets (net)
-€775
Financing
+€62,000
Debts after one year
+€62,000
Cash 2025
€58,502
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €119,771 | €169,626 | +€49,855 | +41.6% |
| Fixed assets | 21/28 | €112,594 | €101,162 | -€11,432 | -10.2% |
| Tangible fixed assets | 22/27 | €112,409 | €100,977 | -€11,432 | -10.2% |
| Land and buildings | 22 | €89,400 | €82,934 | -€6,466 | -7.2% |
| Plant, machinery and equipment | 23 | €7,808 | €6,674 | -€1,134 | -14.5% |
| Furniture and vehicles | 24 | €15,201 | €11,369 | -€3,832 | -25.2% |
| Financial fixed assets | 28 | €185 | €185 | = | 0.0% |
| Current assets | 29/58 | €7,177 | €68,464 | +€61,287 | +854% |
| Amounts receivable within one year | 40/41 | €3,947 | €5,962 | +€2,015 | +51.1% |
| Trade receivables | 40 | €995 | €2,908 | +€1,913 | +192% |
| Other amounts receivable | 41 | €2,952 | €3,054 | +€102 | +3.5% |
| Cash at bank and in hand | 54/58 | €3,230 | €58,502 | +€55,272 | +1,711% |
| Deferred charges and accrued income | 490/1 | - | €4,000 | +€4,000 | |
| Total equity and liabilities | 10/49 | €119,771 | €169,626 | +€49,855 | +41.6% |
| Equity | 10/15 | €16,911 | €74,449 | +€57,538 | +340% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,864 | €2,864 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,864 | €2,864 | = | 0.0% |
| Legal reserve | 130 | €2,864 | €2,864 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,847 | €65,385 | +€57,538 | +733% |
| Amounts payable | 17/49 | €102,860 | €95,177 | -€7,683 | -7.5% |
| Amounts payable after more than one year | 17 | - | €62,000 | +€62,000 | |
| Advances received on contracts in progress | 176 | - | €62,000 | +€62,000 | |
| Amounts payable within one year | 42/48 | €102,860 | €33,177 | -€69,683 | -67.7% |
| Trade debts | 44 | €7,278 | €21,632 | +€14,354 | +197% |
| Suppliers | 440/4 | €7,278 | €21,632 | +€14,354 | +197% |
| Taxes, remuneration and social security | 45 | €11,821 | €11,545 | -€276 | -2.3% |
| Remuneration and social security | 454/9 | €11,821 | €11,545 | -€276 | -2.3% |
| Other amounts payable | 47/48 | €83,761 | - | -€83,761 | |
| Turnover | 70 | €177,116 | €223,165 | +€46,049 | +26.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €94,800 | €98,744 | +€3,944 | +4.2% |
| Remuneration, social security and pensions | 62 | €43,697 | €52,526 | +€8,829 | +20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,991 | €12,207 | -€784 | -6.0% |
| Other operating charges | 640/8 | €1,866 | €2,004 | +€138 | +7.4% |
| Gross operating margin | 9900 | €82,316 | €124,421 | +€42,105 | +51.2% |
| Operating profit (loss) | 9901 | €23,762 | €57,684 | +€33,922 | +143% |
| Financial income | 75/76B | €426 | €135 | -€291 | -68.3% |
| Recurring financial income | 75 | €426 | €135 | -€291 | -68.3% |
| Non-recurring financial income | 76B | €426 | €135 | -€291 | -68.3% |
| Financial charges | 65/66B | €155 | €281 | +€126 | +81.3% |
| Recurring financial charges | 65 | €155 | €281 | +€126 | +81.3% |
| Profit (loss) for the period before taxes | 9903 | €24,033 | €57,538 | +€33,505 | +139% |
| Profit (loss) for the period | 9904 | €24,033 | €57,538 | +€33,505 | +139% |
| Profit (loss) for the period to be appropriated | 9905 | €24,033 | €57,538 | +€33,505 | +139% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.