PANYSOL: 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.
PANYSOL
Largest movements
- Cash -€23,050
down €23,050 (-40.8%), from €56,517 to €33,467
mainly Debts after one year (-€23,586) and Tax, wage and social debts (-€9,465)
- Tangible fixed assets -€8,883
down €8,883 (-5.7%), from €156,556 to €147,673
of which Land and buildings: -€10,851
- Receivables within one year +€4,814
up €4,814 (+42.5%), from €11,326 to €16,139
of which Other amounts receivable: +€4,814
- Debts after one year -€23,586
down €23,586 (-32.2%), from €73,265 to €49,679
- Tax, wage and social debts -€9,465
down €9,465 (-86.9%), from €10,897 to €1,432
- Reserves +€6,835
up €6,835 (+10.5%), from €64,842 to €71,677
- Other debts -€3,840
down €3,840 (-35.5%), from €10,806 to €6,966
- Gross operating margin -€20,279
down €20,279 (-36.1%), from €56,207 to €35,928
- Taxes -€5,750
down €5,750 (-64.3%), from €8,940 to €3,190
- Other operating charges -€2,150
down €2,150 (-48.5%), from €4,432 to €2,282
- Financial charges -€574
down €574 (-9.1%), from €6,296 to €5,723
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 | €225,329 | €197,450 | -€27,880 | -12.4% |
| Fixed assets | 21/28 | €156,556 | €147,673 | -€8,883 | -5.7% |
| Tangible fixed assets | 22/27 | €156,556 | €147,673 | -€8,883 | -5.7% |
| Land and buildings | 22 | €156,354 | €145,504 | -€10,851 | -6.9% |
| Plant, machinery and equipment | 23 | €202 | €2,170 | +€1,968 | +974% |
| Current assets | 29/58 | €68,773 | €49,776 | -€18,997 | -27.6% |
| Amounts receivable within one year | 40/41 | €11,326 | €16,139 | +€4,814 | +42.5% |
| Trade receivables | 40 | €10,890 | €10,890 | = | 0.0% |
| Other amounts receivable | 41 | €436 | €5,249 | +€4,814 | +1,105% |
| Cash at bank and in hand | 54/58 | €56,517 | €33,467 | -€23,050 | -40.8% |
| Deferred charges and accrued income | 490/1 | €931 | €170 | -€760 | -81.7% |
| Total equity and liabilities | 10/49 | €225,329 | €197,450 | -€27,880 | -12.4% |
| Equity | 10/15 | €107,240 | €114,075 | +€6,835 | +6.4% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €64,842 | €71,677 | +€6,835 | +10.5% |
| Distributable reserves | 133 | €64,842 | €71,677 | +€6,835 | +10.5% |
| Profit (loss) carried forward | 14 | €2,398 | €2,398 | = | 0.0% |
| Amounts payable | 17/49 | €118,090 | €83,375 | -€34,715 | -29.4% |
| Amounts payable after more than one year | 17 | €73,265 | €49,679 | -€23,586 | -32.2% |
| Financial debts | 170/4 | €73,265 | €49,679 | -€23,586 | -32.2% |
| Amounts payable within one year | 42/48 | €44,825 | €33,424 | -€11,401 | -25.4% |
| Current portion of amounts payable after more than one year | 42 | €22,269 | €23,586 | +€1,317 | +5.9% |
| Trade debts | 44 | €853 | €1,441 | +€587 | +68.9% |
| Suppliers | 440/4 | €853 | €1,441 | +€587 | +68.9% |
| Taxes, remuneration and social security | 45 | €10,897 | €1,432 | -€9,465 | -86.9% |
| Taxes | 450/3 | €10,897 | €1,432 | -€9,465 | -86.9% |
| Other amounts payable | 47/48 | €10,806 | €6,966 | -€3,840 | -35.5% |
| Accrued charges and deferred income | 492/3 | - | €272 | +€272 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,620 | €18,076 | +€456 | +2.6% |
| Other operating charges | 640/8 | €4,432 | €2,282 | -€2,150 | -48.5% |
| Gross operating margin | 9900 | €56,207 | €35,928 | -€20,279 | -36.1% |
| Operating profit (loss) | 9901 | €34,156 | €15,571 | -€18,585 | -54.4% |
| Financial income | 75/76B | €159 | €177 | +€19 | +11.6% |
| Recurring financial income | 75 | €159 | €177 | +€19 | +11.6% |
| Financial charges | 65/66B | €6,296 | €5,723 | -€574 | -9.1% |
| Recurring financial charges | 65 | €6,296 | €5,723 | -€574 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €28,018 | €10,025 | -€17,993 | -64.2% |
| Income taxes | 67/77 | €8,940 | €3,190 | -€5,750 | -64.3% |
| Profit (loss) for the period | 9904 | €19,078 | €6,835 | -€12,243 | -64.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,078 | €6,835 | -€12,243 | -64.2% |
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.