RedPanda: 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.
RedPanda
Largest movements
- Receivables within one year +€58,271
up €58,271 (+327.0%), from €17,820 to €76,092
of which Other amounts receivable: +€60,446
- Cash +€42,454
up €42,454 (+78.0%), from €54,450 to €96,904
mainly Net result for the year (+€97,743) and Tax, wage and social debts (+€12,408)
- Tangible fixed assets +€10,039
up €10,039 (+414.5%), from €2,422 to €12,461
of which Plant, machinery and equipment: +€7,023
- Reserves +€145,057
new in 2025: €145,057
- Profit (loss) carried forward -€47,313
no longer reported in 2025 (was €47,313)
- Tax, wage and social debts +€12,408
up €12,408 (+54.2%), from €22,912 to €35,320
- Trade debts +€2,616
up €2,616, from €0 to €2,616
- Other debts -€2,150
no longer reported in 2025 (was €2,150)
- Gross operating margin +€71,276
up €71,276 (+119.1%), from €59,868 to €131,144
- Taxes +€14,843
up €14,843 (+122.3%), from €12,138 to €26,982
- Financial charges +€4,664
up €4,664 (+1514.0%), from €308 to €4,972
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 | €74,875 | €185,492 | +€110,618 | +147.7% |
| Fixed assets | 21/28 | €2,422 | €12,461 | +€10,039 | +414.5% |
| Tangible fixed assets | 22/27 | €2,422 | €12,461 | +€10,039 | +414.5% |
| Plant, machinery and equipment | 23 | €816 | €7,839 | +€7,023 | +860.9% |
| Furniture and vehicles | 24 | €1,606 | €4,622 | +€3,016 | +187.7% |
| Current assets | 29/58 | €72,453 | €173,031 | +€100,579 | +138.8% |
| Amounts receivable within one year | 40/41 | €17,820 | €76,092 | +€58,271 | +327.0% |
| Trade receivables | 40 | €17,820 | €15,645 | -€2,175 | -12.2% |
| Other amounts receivable | 41 | - | €60,446 | +€60,446 | |
| Cash at bank and in hand | 54/58 | €54,450 | €96,904 | +€42,454 | +78.0% |
| Deferred charges and accrued income | 490/1 | €183 | €36 | -€147 | -80.3% |
| Total equity and liabilities | 10/49 | €74,875 | €185,492 | +€110,618 | +147.7% |
| Equity | 10/15 | €49,813 | €147,557 | +€97,743 | +196.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €145,057 | +€145,057 | |
| Distributable reserves | 133 | - | €145,057 | +€145,057 | |
| Profit (loss) carried forward | 14 | €47,313 | - | -€47,313 | |
| Amounts payable | 17/49 | €25,061 | €37,936 | +€12,874 | +51.4% |
| Amounts payable within one year | 42/48 | €25,061 | €37,936 | +€12,874 | +51.4% |
| Trade debts | 44 | €0 | €2,616 | +€2,616 | |
| Suppliers | 440/4 | €0 | €2,616 | +€2,616 | |
| Taxes, remuneration and social security | 45 | €22,912 | €35,320 | +€12,408 | +54.2% |
| Taxes | 450/3 | €22,912 | €35,320 | +€12,408 | +54.2% |
| Other amounts payable | 47/48 | €2,150 | - | -€2,150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108 | €1,118 | +€1,009 | +932.6% |
| Other operating charges | 640/8 | - | €333 | +€333 | |
| Gross operating margin | 9900 | €59,868 | €131,144 | +€71,276 | +119.1% |
| Operating profit (loss) | 9901 | €59,760 | €129,693 | +€69,934 | +117.0% |
| Financial income | 75/76B | €0 | €3 | +€3 | +3255.6% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +3255.6% |
| Financial charges | 65/66B | €308 | €4,972 | +€4,664 | +1514.0% |
| Recurring financial charges | 65 | €308 | €4,972 | +€4,664 | +1514.0% |
| Profit (loss) for the period before taxes | 9903 | €59,452 | €124,725 | +€65,273 | +109.8% |
| Income taxes | 67/77 | €12,138 | €26,982 | +€14,843 | +122.3% |
| Profit (loss) for the period | 9904 | €47,313 | €97,743 | +€50,430 | +106.6% |
| Profit (loss) for the period to be appropriated | 9905 | €47,313 | €97,743 | +€50,430 | +106.6% |
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 10 October 2026 via checked.be.