Project Partly Palm Tree: 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.
Project Partly Palm Tree
Largest movements
- Cash +€46,530
up €46,530 (+112%), from €41,546 to €88,076
mainly Net result for the year (+€42,963) and Depreciation (+€10,482)
- Tangible fixed assets -€8,090
down €8,090 (-24.2%), from €33,495 to €25,406
of which Furniture and vehicles: -€8,059
- Receivables within one year +€2,792
up €2,792 (+37.7%), from €7,400 to €10,192
of which Trade receivables: +€2,782
- Reserves +€42,963
up €42,963 (+124%), from €34,545 to €77,508
- Debts after one year -€9,633
down €9,633 (-62.3%), from €15,473 to €5,840
- Tax, wage and social debts +€8,401
up €8,401 (+66.0%), from €12,732 to €21,134
- Current portion of long-term debt -€4,028
down €4,028 (-29.5%), from €13,661 to €9,633
- Other debts +€2,519
up €2,519 (+122%), from €2,068 to €4,587
- Gross operating margin +€37,866
up €37,866 (+132%), from €28,739 to €66,605
- Taxes +€7,414
up €7,414 (+197%), from €3,762 to €11,176
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 | €83,479 | €123,701 | +€40,222 | +48.2% |
| Fixed assets | 21/28 | €33,495 | €25,406 | -€8,090 | -24.2% |
| Tangible fixed assets | 22/27 | €33,495 | €25,406 | -€8,090 | -24.2% |
| Plant, machinery and equipment | 23 | €1,556 | €1,525 | -€31 | -2.0% |
| Furniture and vehicles | 24 | €31,939 | €23,880 | -€8,059 | -25.2% |
| Current assets | 29/58 | €49,983 | €98,295 | +€48,312 | +96.7% |
| Amounts receivable within one year | 40/41 | €7,400 | €10,192 | +€2,792 | +37.7% |
| Trade receivables | 40 | €7,400 | €10,183 | +€2,782 | +37.6% |
| Other amounts receivable | 41 | - | €9 | +€9 | |
| Cash at bank and in hand | 54/58 | €41,546 | €88,076 | +€46,530 | +112% |
| Deferred charges and accrued income | 490/1 | €1,037 | €27 | -€1,010 | -97.4% |
| Total equity and liabilities | 10/49 | €83,479 | €123,701 | +€40,222 | +48.2% |
| Equity | 10/15 | €39,545 | €82,508 | +€42,963 | +109% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €34,545 | €77,508 | +€42,963 | +124% |
| Distributable reserves | 133 | €34,545 | €77,508 | +€42,963 | +124% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €43,934 | €41,193 | -€2,741 | -6.2% |
| Amounts payable after more than one year | 17 | €15,473 | €5,840 | -€9,633 | -62.3% |
| Financial debts | 170/4 | €15,473 | €5,840 | -€9,633 | -62.3% |
| Amounts payable within one year | 42/48 | €28,461 | €35,353 | +€6,892 | +24.2% |
| Current portion of amounts payable after more than one year | 42 | €13,661 | €9,633 | -€4,028 | -29.5% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €12,732 | €21,134 | +€8,401 | +66.0% |
| Taxes | 450/3 | €12,732 | €21,134 | +€8,401 | +66.0% |
| Other amounts payable | 47/48 | €2,068 | €4,587 | +€2,519 | +122% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,128 | €10,482 | +€354 | +3.5% |
| Other operating charges | 640/8 | €62 | €709 | +€647 | +1,043% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €28,739 | €66,605 | +€37,866 | +132% |
| Operating profit (loss) | 9901 | €18,549 | €55,414 | +€36,866 | +199% |
| Financial charges | 65/66B | €1,907 | €1,275 | -€632 | -33.1% |
| Recurring financial charges | 65 | €1,907 | €1,275 | -€632 | -33.1% |
| Profit (loss) for the period before taxes | 9903 | €16,641 | €54,139 | +€37,498 | +225% |
| Income taxes | 67/77 | €3,762 | €11,176 | +€7,414 | +197% |
| Profit (loss) for the period | 9904 | €12,879 | €42,963 | +€30,084 | +234% |
| Profit (loss) for the period to be appropriated | 9905 | €12,879 | €42,963 | +€30,084 | +234% |
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 26 October 2026 via checked.be.