PANYMAS: 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.
PANYMAS
Largest movements
- Cash -€7,540
down €7,540 (-53.9%), from €13,986 to €6,447
mainly Other debts (-€4,350) and Trade debts (-€2,938)
- Other debts -€4,350
no longer reported in 2025 (was €4,350)
- Trade debts -€2,938
down €2,938 (-80.8%), from €3,638 to €700
- Tax, wage and social debts -€333
down €333 (-6.5%), from €5,116 to €4,784
of which Remuneration and social security: -€884
- Gross operating margin -€12,966
down €12,966 (-26.5%), from €48,924 to €35,958
- Staff costs +€1,034
up €1,034 (+3.4%), from €30,394 to €31,428
- Other operating charges -€657
down €657 (-13.8%), from €4,765 to €4,108
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 | €21,244 | €13,656 | -€7,588 | -35.7% |
| Current assets | 29/58 | €21,244 | €13,656 | -€7,588 | -35.7% |
| Stocks and contracts in progress | 3 | €7,201 | €7,043 | -€157 | -2.2% |
| Stocks | 30/36 | €7,201 | €7,043 | -€157 | -2.2% |
| Amounts receivable within one year | 40/41 | €57 | €166 | +€109 | +192% |
| Other amounts receivable | 41 | €57 | €166 | +€109 | +192% |
| Cash at bank and in hand | 54/58 | €13,986 | €6,447 | -€7,540 | -53.9% |
| Total equity and liabilities | 10/49 | €21,244 | €13,656 | -€7,588 | -35.7% |
| Equity | 10/15 | €8,140 | €8,172 | +€33 | +0.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,460 | -€10,428 | +€33 | +0.3% |
| Amounts payable | 17/49 | €13,104 | €5,484 | -€7,621 | -58.2% |
| Amounts payable within one year | 42/48 | €13,104 | €5,484 | -€7,621 | -58.2% |
| Trade debts | 44 | €3,638 | €700 | -€2,938 | -80.8% |
| Suppliers | 440/4 | €3,638 | €700 | -€2,938 | -80.8% |
| Taxes, remuneration and social security | 45 | €5,116 | €4,784 | -€333 | -6.5% |
| Taxes | 450/3 | - | €551 | +€551 | |
| Remuneration and social security | 454/9 | €5,116 | €4,232 | -€884 | -17.3% |
| Other amounts payable | 47/48 | €4,350 | - | -€4,350 | |
| Remuneration, social security and pensions | 62 | €30,394 | €31,428 | +€1,034 | +3.4% |
| Other operating charges | 640/8 | €4,765 | €4,108 | -€657 | -13.8% |
| Gross operating margin | 9900 | €48,924 | €35,958 | -€12,966 | -26.5% |
| Operating profit (loss) | 9901 | €13,765 | €422 | -€13,343 | -96.9% |
| Financial income | 75/76B | - | €16 | +€16 | |
| Recurring financial income | 75 | - | €16 | +€16 | |
| Financial charges | 65/66B | €164 | €61 | -€103 | -62.8% |
| Recurring financial charges | 65 | €164 | €61 | -€103 | -62.8% |
| Profit (loss) for the period before taxes | 9903 | €13,602 | €376 | -€13,225 | -97.2% |
| Income taxes | 67/77 | - | €344 | +€344 | |
| Profit (loss) for the period | 9904 | €13,602 | €33 | -€13,569 | -99.8% |
| Profit (loss) for the period to be appropriated | 9905 | €13,602 | €33 | -€13,569 | -99.8% |
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 18 October 2026 via checked.be.