PANTHONIS: 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.
PANTHONIS
Largest movements
- Receivables within one year -€22,491
down €22,491 (-68.4%), from €32,904 to €10,413
of which Trade receivables: -€14,816
- Cash +€21,565
up €21,565 (+85.1%), from €25,352 to €46,917
mainly Receivables within one year (+€22,491) and Depreciation (+€13,857)
- Tangible fixed assets -€12,015
down €12,015 (-39.0%), from €30,776 to €18,761
of which Furniture and vehicles: -€11,082
- Tax, wage and social debts -€9,869
down €9,869 (-93.7%), from €10,534 to €666
- Gross operating margin -€15,092
down €15,092 (-54.2%), from €27,855 to €12,763
- Taxes -€3,873
down €3,873 (-76.1%), from €5,087 to €1,214
- Financial income +€2,208
up €2,208 (+302%), from €730 to €2,938
of which Financial income: +€2,213
- Depreciation -€694
down €694 (-4.8%), from €14,551 to €13,857
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 | €119,969 | €108,458 | -€11,511 | -9.6% |
| Fixed assets | 21/28 | €30,776 | €18,761 | -€12,015 | -39.0% |
| Tangible fixed assets | 22/27 | €30,776 | €18,761 | -€12,015 | -39.0% |
| Plant, machinery and equipment | 23 | €7,203 | €6,269 | -€934 | -13.0% |
| Furniture and vehicles | 24 | €23,573 | €12,491 | -€11,082 | -47.0% |
| Current assets | 29/58 | €89,193 | €89,697 | +€504 | +0.6% |
| Stocks and contracts in progress | 3 | €5,030 | €5,237 | +€207 | +4.1% |
| Stocks | 30/36 | €5,030 | €5,237 | +€207 | +4.1% |
| Amounts receivable within one year | 40/41 | €32,904 | €10,413 | -€22,491 | -68.4% |
| Trade receivables | 40 | €24,279 | €9,463 | -€14,816 | -61.0% |
| Other amounts receivable | 41 | €8,626 | €951 | -€7,675 | -89.0% |
| Current investments | 50/53 | €24,770 | €25,953 | +€1,183 | +4.8% |
| Cash at bank and in hand | 54/58 | €25,352 | €46,917 | +€21,565 | +85.1% |
| Deferred charges and accrued income | 490/1 | €1,136 | €1,177 | +€41 | +3.6% |
| Total equity and liabilities | 10/49 | €119,969 | €108,458 | -€11,511 | -9.6% |
| Equity | 10/15 | €100,523 | €99,604 | -€918 | -0.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €95,523 | €95,523 | = | 0.0% |
| Distributable reserves | 133 | €95,523 | €95,523 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€918 | -€918 | |
| Amounts payable | 17/49 | €19,446 | €8,853 | -€10,593 | -54.5% |
| Amounts payable within one year | 42/48 | €19,446 | €8,853 | -€10,593 | -54.5% |
| Trade debts | 44 | €1,724 | €1,158 | -€567 | -32.9% |
| Suppliers | 440/4 | €1,724 | €1,158 | -€567 | -32.9% |
| Taxes, remuneration and social security | 45 | €10,534 | €666 | -€9,869 | -93.7% |
| Taxes | 450/3 | €10,534 | €666 | -€9,869 | -93.7% |
| Other amounts payable | 47/48 | €7,188 | €7,030 | -€157 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,551 | €13,857 | -€694 | -4.8% |
| Other operating charges | 640/8 | €1,053 | €989 | -€64 | -6.1% |
| Gross operating margin | 9900 | €27,855 | €12,763 | -€15,092 | -54.2% |
| Operating profit (loss) | 9901 | €12,252 | -€2,082 | -€14,333 | |
| Financial income | 75/76B | €730 | €2,938 | +€2,208 | +302% |
| Recurring financial income | 75 | €725 | €2,938 | +€2,213 | +305% |
| Non-recurring financial income | 76B | €5 | - | -€5 | |
| Financial charges | 65/66B | €717 | €561 | -€156 | -21.8% |
| Recurring financial charges | 65 | €717 | €561 | -€156 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €12,265 | €296 | -€11,969 | -97.6% |
| Income taxes | 67/77 | €5,087 | €1,214 | -€3,873 | -76.1% |
| Profit (loss) for the period | 9904 | €7,178 | -€918 | -€8,096 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,178 | -€918 | -€8,096 |
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 19 October 2026 via checked.be.