PARDINI-AGIRMAN: what changed
Two fiscal 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.
PARDINI-AGIRMAN
Largest movements
- Cash -€69,720
down €69,720 (-70.1%), from €99,523 to €29,804
mainly Contributions, distributions and other (-€46,000) and Tax, wage and social debts (-€29,018)
- Tangible fixed assets -€21,719
down €21,719 (-41.8%), from €52,016 to €30,296
- Receivables within one year +€21,184
up €21,184 (+136.7%), from €15,501 to €36,685
of which Other amounts receivable: +€22,034
- Tax, wage and social debts -€29,018
down €29,018 (-57.5%), from €50,454 to €21,436
of which Taxes: -€29,018
- Other debts -€20,400
down €20,400 (-34.3%), from €59,500 to €39,100
- Profit (loss) carried forward -€15,674
down €15,674 (-42.3%), from €37,039 to €21,365
- Debts after one year -€6,682
down €6,682 (-48.8%), from €13,684 to €7,002
- Gross operating margin -€12,507
down €12,507 (-15.5%), from €80,511 to €68,004
- Depreciation +€4,504
up €4,504 (+26.2%), from €17,216 to €21,719
- Taxes -€1,281
down €1,281 (-8.8%), from €14,535 to €13,254
- Financial charges +€995
up €995 (+75.5%), from €1,318 to €2,313
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.
Cash bridge derived
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 | €169,804 | €99,473 | -€70,331 | -41.4% |
| Fixed assets | 21/28 | €52,016 | €30,296 | -€21,719 | -41.8% |
| Tangible fixed assets | 22/27 | €52,016 | €30,296 | -€21,719 | -41.8% |
| Furniture and vehicles | 24 | €52,016 | €30,296 | -€21,719 | -41.8% |
| Current assets | 29/58 | €117,788 | €69,177 | -€48,612 | -41.3% |
| Amounts receivable within one year | 40/41 | €15,501 | €36,685 | +€21,184 | +136.7% |
| Trade receivables | 40 | €14,450 | €13,600 | -€850 | -5.9% |
| Other amounts receivable | 41 | €1,051 | €23,085 | +€22,034 | +2096.0% |
| Cash at bank and in hand | 54/58 | €99,523 | €29,804 | -€69,720 | -70.1% |
| Deferred charges and accrued income | 490/1 | €2,763 | €2,688 | -€76 | -2.7% |
| Total equity and liabilities | 10/49 | €169,804 | €99,473 | -€70,331 | -41.4% |
| Equity | 10/15 | €39,039 | €23,365 | -€15,674 | -40.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,039 | €21,365 | -€15,674 | -42.3% |
| Amounts payable | 17/49 | €130,765 | €76,108 | -€54,657 | -41.8% |
| Amounts payable after more than one year | 17 | €13,684 | €7,002 | -€6,682 | -48.8% |
| Financial debts | 170/4 | €13,684 | €7,002 | -€6,682 | -48.8% |
| Amounts payable within one year | 42/48 | €117,081 | €69,106 | -€47,975 | -41.0% |
| Current portion of amounts payable after more than one year | 42 | €6,377 | €6,682 | +€305 | +4.8% |
| Trade debts | 44 | €750 | €1,888 | +€1,138 | +151.8% |
| Suppliers | 440/4 | €750 | €1,888 | +€1,138 | +151.8% |
| Taxes, remuneration and social security | 45 | €50,454 | €21,436 | -€29,018 | -57.5% |
| Taxes | 450/3 | €50,454 | €21,436 | -€29,018 | -57.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €59,500 | €39,100 | -€20,400 | -34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,216 | €21,719 | +€4,504 | +26.2% |
| Other operating charges | 640/8 | €554 | €1,015 | +€460 | +83.0% |
| Gross operating margin | 9900 | €80,511 | €68,004 | -€12,507 | -15.5% |
| Operating profit (loss) | 9901 | €62,741 | €45,270 | -€17,471 | -27.8% |
| Financial income | 75/76B | €13 | €623 | +€610 | +4539.6% |
| Recurring financial income | 75 | €13 | €623 | +€610 | +4539.6% |
| Financial charges | 65/66B | €1,318 | €2,313 | +€995 | +75.5% |
| Recurring financial charges | 65 | €1,318 | €2,313 | +€995 | +75.5% |
| Profit (loss) for the period before taxes | 9903 | €61,436 | €43,579 | -€17,857 | -29.1% |
| Income taxes | 67/77 | €14,535 | €13,254 | -€1,281 | -8.8% |
| Profit (loss) for the period | 9904 | €46,901 | €30,326 | -€16,576 | -35.3% |
| Profit (loss) for the period to be appropriated | 9905 | €46,901 | €30,326 | -€16,576 | -35.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.