PARNOTAR: 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.
PARNOTAR
Largest movements
- Financial fixed assets +€1.5m
up €1.5m (+201.1%), from €744,156 to €2.2m
- Current investments -€318,846
down €318,846 (-25.3%), from €1.3m to €942,548
- Receivables within one year +€254,616
up €254,616 (+70.7%), from €359,966 to €614,581
of which Other amounts receivable: +€253,249
- Cash -€171,669
down €171,669 (-84.0%), from €204,272 to €32,603
mainly Investment in fixed assets (net) (-€1.5m) and Contributions, distributions and other (-€775,372)
- Debts after one year +€1.8m
up €1.8m (+532.8%), from €336,629 to €2.1m
- Reserves -€565,079
down €565,079 (-25.1%), from €2.2m to €1.7m
- Other debts -€210,152
down €210,152 (-100.0%), from €210,152 to €0
- Current portion of long-term debt +€186,764
up €186,764 (+168.3%), from €110,939 to €297,703
- Gross operating margin -€590,572
down €590,572 (-65.5%), from €901,636 to €311,063
- Financial income -€474,241
down €474,241 (-91.0%), from €521,170 to €46,929
- Financial charges -€18,649
down €18,649 (-78.2%), from €23,856 to €5,207
- Taxes -€10,527
down €10,527 (-10.1%), from €103,833 to €93,306
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 | €2,999,788 | €4,253,532 | +€1.3m | +41.8% |
| Fixed assets | 21/28 | €1,163,517 | €2,657,476 | +€1.5m | +128.4% |
| Tangible fixed assets | 22/27 | €419,361 | €417,156 | -€2,205 | -0.5% |
| Furniture and vehicles | 24 | €91,145 | €54,265 | -€36,880 | -40.5% |
| Other tangible fixed assets | 26 | €328,216 | €362,891 | +€34,675 | +10.6% |
| Financial fixed assets | 28 | €744,156 | €2,240,320 | +€1.5m | +201.1% |
| Current assets | 29/58 | €1,836,271 | €1,596,055 | -€240,215 | -13.1% |
| Amounts receivable within one year | 40/41 | €359,966 | €614,581 | +€254,616 | +70.7% |
| Trade receivables | 40 | €35,000 | €36,367 | +€1,367 | +3.9% |
| Other amounts receivable | 41 | €324,966 | €578,215 | +€253,249 | +77.9% |
| Current investments | 50/53 | €1,261,394 | €942,548 | -€318,846 | -25.3% |
| Cash at bank and in hand | 54/58 | €204,272 | €32,603 | -€171,669 | -84.0% |
| Deferred charges and accrued income | 490/1 | €10,638 | €6,323 | -€4,316 | -40.6% |
| Total equity and liabilities | 10/49 | €2,999,788 | €4,253,532 | +€1.3m | +41.8% |
| Equity | 10/15 | €2,250,538 | €1,685,459 | -€565,079 | -25.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €2,249,538 | €1,684,459 | -€565,079 | -25.1% |
| Distributable reserves | 133 | €2,249,538 | €1,684,459 | -€565,079 | -25.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €749,250 | €2,568,073 | +€1.8m | +242.8% |
| Amounts payable after more than one year | 17 | €336,629 | €2,130,050 | +€1.8m | +532.8% |
| Financial debts | 170/4 | €336,629 | €2,130,050 | +€1.8m | +532.8% |
| Amounts payable within one year | 42/48 | €411,331 | €437,823 | +€26,492 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €110,939 | €297,703 | +€186,764 | +168.3% |
| Trade debts | 44 | €3,079 | €40,259 | +€37,179 | +1207.3% |
| Suppliers | 440/4 | €3,079 | €40,259 | +€37,179 | +1207.3% |
| Taxes, remuneration and social security | 45 | €87,160 | €99,861 | +€12,701 | +14.6% |
| Taxes | 450/3 | €78,585 | €99,861 | +€21,276 | +27.1% |
| Remuneration and social security | 454/9 | €8,575 | €0 | -€8,575 | -100.0% |
| Other amounts payable | 47/48 | €210,152 | €0 | -€210,152 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,290 | €200 | -€1,090 | -84.5% |
| Non-recurring operating income | 76A | €760,759 | €0 | -€760,759 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,232 | €46,661 | +€429 | +0.9% |
| Other operating charges | 640/8 | €6,313 | €2,526 | -€3,788 | -60.0% |
| Gross operating margin | 9900 | €901,636 | €311,063 | -€590,572 | -65.5% |
| Operating profit (loss) | 9901 | €849,090 | €261,877 | -€587,213 | -69.2% |
| Financial income | 75/76B | €521,170 | €46,929 | -€474,241 | -91.0% |
| Recurring financial income | 75 | €521,170 | €46,929 | -€474,241 | -91.0% |
| Financial charges | 65/66B | €23,856 | €5,207 | -€18,649 | -78.2% |
| Recurring financial charges | 65 | €23,856 | €5,207 | -€18,649 | -78.2% |
| Profit (loss) for the period before taxes | 9903 | €1,346,404 | €303,599 | -€1.0m | -77.5% |
| Income taxes | 67/77 | €103,833 | €93,306 | -€10,527 | -10.1% |
| Profit (loss) for the period | 9904 | €1,242,571 | €210,293 | -€1.0m | -83.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,242,571 | €210,293 | -€1.0m | -83.1% |
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 4 October 2026 via checked.be.