PANTOPICON: 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.
PANTOPICON
Largest movements
- Receivables within one year +€23,318
up €23,318 (+37.6%), from €62,047 to €85,365
of which Trade receivables: +€11,832
- Tangible fixed assets -€19,448
down €19,448 (-39.1%), from €49,789 to €30,341
of which Furniture and vehicles: -€16,908
- Current investments -€11,600
no longer reported in 2025 (was €11,600)
- Cash -€6,486
down €6,486 (-13.6%), from €47,740 to €41,254
mainly Trade debts (-€26,168) and Receivables within one year (-€23,318)
- Deferred charges and accrued income -€4,490
no longer reported in 2025 (was €4,490)
- Trade debts -€26,168
down €26,168 (-76.6%), from €34,182 to €8,014
- Tax, wage and social debts +€11,983
up €11,983 (+96.9%), from €12,369 to €24,352
of which Taxes: +€10,787
- Profit (loss) carried forward +€11,600
up €11,600, from -€10,320 to €1,280
- Contributions -€11,600
down €11,600 (-58.0%), from €20,000 to €8,400
- Reserves -€5,829
down €5,829 (-4.9%), from €119,494 to €113,665
of which Non-distributable reserves: -€13,600
- Gross operating margin +€17,471
up €17,471 (+29.3%), from €59,646 to €77,117
- Taxes +€6,436
up €6,436 (+846%), from €761 to €7,197
- Financial charges -€902
down €902 (-72.2%), from €1,250 to €348
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 | €192,366 | €173,661 | -€18,705 | -9.7% |
| Fixed assets | 21/28 | €66,489 | €47,041 | -€19,448 | -29.2% |
| Tangible fixed assets | 22/27 | €49,789 | €30,341 | -€19,448 | -39.1% |
| Plant, machinery and equipment | 23 | €4,774 | €2,234 | -€2,540 | -53.2% |
| Furniture and vehicles | 24 | €45,015 | €28,107 | -€16,908 | -37.6% |
| Financial fixed assets | 28 | €16,700 | €16,700 | = | 0.0% |
| Current assets | 29/58 | €125,877 | €126,620 | +€743 | +0.6% |
| Amounts receivable within one year | 40/41 | €62,047 | €85,365 | +€23,318 | +37.6% |
| Trade receivables | 40 | €52,568 | €64,400 | +€11,832 | +22.5% |
| Other amounts receivable | 41 | €9,479 | €20,965 | +€11,486 | +121% |
| Current investments | 50/53 | €11,600 | - | -€11,600 | |
| Cash at bank and in hand | 54/58 | €47,740 | €41,254 | -€6,486 | -13.6% |
| Deferred charges and accrued income | 490/1 | €4,490 | - | -€4,490 | |
| Total equity and liabilities | 10/49 | €192,366 | €173,661 | -€18,705 | -9.7% |
| Equity | 10/15 | €129,174 | €123,345 | -€5,829 | -4.5% |
| Contributions | 10/11 | €20,000 | €8,400 | -€11,600 | -58.0% |
| Reserves | 13 | €119,494 | €113,665 | -€5,829 | -4.9% |
| Non-distributable reserves | 130/1 | €13,600 | - | -€13,600 | |
| Reserves not available under the articles | 1311 | €2,000 | - | -€2,000 | |
| Own shares acquired | 1312 | €11,600 | - | -€11,600 | |
| Distributable reserves | 133 | €105,894 | €113,665 | +€7,771 | +7.3% |
| Profit (loss) carried forward | 14 | -€10,320 | €1,280 | +€11,600 | |
| Amounts payable | 17/49 | €63,192 | €50,316 | -€12,876 | -20.4% |
| Amounts payable within one year | 42/48 | €63,192 | €50,316 | -€12,876 | -20.4% |
| Trade debts | 44 | €34,182 | €8,014 | -€26,168 | -76.6% |
| Suppliers | 440/4 | €34,182 | €8,014 | -€26,168 | -76.6% |
| Taxes, remuneration and social security | 45 | €12,369 | €24,352 | +€11,983 | +96.9% |
| Taxes | 450/3 | €5,889 | €16,676 | +€10,787 | +183% |
| Remuneration and social security | 454/9 | €6,480 | €7,676 | +€1,196 | +18.5% |
| Other amounts payable | 47/48 | €16,641 | €17,950 | +€1,309 | +7.9% |
| Remuneration, social security and pensions | 62 | €42,820 | €43,055 | +€235 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,952 | €19,448 | -€504 | -2.5% |
| Other operating charges | 640/8 | €1,687 | €1,303 | -€385 | -22.8% |
| Gross operating margin | 9900 | €59,646 | €77,117 | +€17,471 | +29.3% |
| Operating profit (loss) | 9901 | -€4,813 | €13,312 | +€18,125 | |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €1,250 | €348 | -€902 | -72.2% |
| Recurring financial charges | 65 | €1,250 | €348 | -€902 | -72.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,063 | €12,967 | +€19,030 | |
| Income taxes | 67/77 | €761 | €7,197 | +€6,436 | +846% |
| Profit (loss) for the period | 9904 | -€6,824 | €5,770 | +€12,594 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,824 | €5,770 | +€12,594 |
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 23 October 2026 via checked.be.