PANQUIN CONSTRUCT: what changed
What changed
PANQUIN CONSTRUCT
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
-€3.3m
2024 · -€3.8m+€464,879
Equity
-€6.4m
2024 · -€3.1m-€3.3m
Cash
€335,332
2024 · €9.5m-€9.1m
Balance sheet total
€8.1m
2024 · €14.7m-€6.7m
Largest movements
Assets
- Cash -€9.1m
down €9.1m (-96.5%), from €9.5m to €335,332
mainly Advances received (-€4.1m) and Net result for the year (-€3.3m)
- Receivables within one year +€1.3m
up €1.3m (+35.8%), from €3.6m to €4.9m
of which Other amounts receivable: +€1.7m
- Deferred charges and accrued income +€1.2m
up €1.2m (+72.5%), from €1.6m to €2.8m
Equity and liabilities
- Advances received -€4.1m
down €4.1m (-44.9%), from €9.1m to €5.0m
- Profit (loss) carried forward -€3.3m
down €3.3m (-87.8%), from -€3.8m to -€7.1m
- Trade debts +€681,125
up €681,125 (+14.1%), from €4.8m to €5.5m
- Accrued charges and deferred income +€196,612
up €196,612 (+42.4%), from €463,592 to €660,204
Income statement
- Goods and materials +€9.6m
up €9.6m (+70.6%), from €13.6m to €23.3m
- Financial income +€399,612
up €399,612 (+190%), from €210,358 to €609,970
- Services and other goods -€227,713
down €227,713 (-59.6%), from €382,113 to €154,400
- Other operating income -€227,417
down €227,417 (-60.8%), from €374,042 to €146,625
- Financial charges -€175,607
down €175,607 (-4.4%), from €4.0m to €3.8m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€3.8m
Other operating charges
-€33
Other operating items
-€2,740
Financial income
+€399,612
Financial charges
+€175,607
Taxes
-€107,567
Result 2025
-€3.3m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€9.1m
Investment
€0
Financing
-€7,368
Cash 2024
€9.5m
From operations (derived)
-€9.1m
Net result for the year
-€3.3m
Receivables within one year
-€1.3m
Deferred charges and accrued income
-€1.2m
Trade debts
+€681,125
Tax, wage and social debts
-€125,129
Advances received
-€4.1m
Accrued charges and deferred income
+€196,612
Financing
-€7,368
Current portion of long-term debt
-€4,823
Short-term financial debts
-€2,545
Cash 2025
€335,332
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,722,600 | €8,061,065 | -€6.7m | -45.2% |
| Current assets | 29/58 | €14,722,600 | €8,061,065 | -€6.7m | -45.2% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €3,601,066 | €4,891,901 | +€1.3m | +35.8% |
| Trade receivables | 40 | €3,598,867 | €3,155,395 | -€443,472 | -12.3% |
| Other amounts receivable | 41 | €2,199 | €1,736,506 | +€1.7m | +78,870% |
| Cash at bank and in hand | 54/58 | €9,478,449 | €335,332 | -€9.1m | -96.5% |
| Deferred charges and accrued income | 490/1 | €1,643,085 | €2,833,832 | +€1.2m | +72.5% |
| Total equity and liabilities | 10/49 | €14,722,600 | €8,061,065 | -€6.7m | -45.2% |
| Equity | 10/15 | -€3,081,700 | -€6,420,043 | -€3.3m | -108% |
| Contributions | 10/11 | €720,000 | €720,000 | = | 0.0% |
| Capital | 10 | €720,000 | €720,000 | = | 0.0% |
| Issued capital | 100 | €720,000 | €720,000 | = | 0.0% |
| Reserves | 13 | €88 | €88 | = | 0.0% |
| Non-distributable reserves | 130/1 | €88 | €88 | = | 0.0% |
| Legal reserve | 130 | €88 | €88 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,801,789 | -€7,140,131 | -€3.3m | -87.8% |
| Amounts payable | 17/49 | €17,804,300 | €14,481,108 | -€3.3m | -18.7% |
| Amounts payable within one year | 42/48 | €17,340,709 | €13,820,904 | -€3.5m | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €3,025,172 | €3,020,349 | -€4,823 | -0.2% |
| Financial debts | 43 | €2,545 | €0 | -€2,545 | -100% |
| Credit institutions | 430/8 | €2,545 | €0 | -€2,545 | -100% |
| Trade debts | 44 | €4,837,546 | €5,518,671 | +€681,125 | +14.1% |
| Suppliers | 440/4 | €4,837,546 | €5,518,671 | +€681,125 | +14.1% |
| Advances received on contracts in progress | 46 | €9,066,901 | €4,998,468 | -€4.1m | -44.9% |
| Taxes, remuneration and social security | 45 | €408,545 | €283,416 | -€125,129 | -30.6% |
| Taxes | 450/3 | €408,545 | €283,416 | -€125,129 | -30.6% |
| Accrued charges and deferred income | 492/3 | €463,592 | €660,204 | +€196,612 | +42.4% |
| Operating income | 70/76A | €14,026,664 | €23,437,270 | +€9.4m | +67.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €13,652,622 | €23,290,645 | +€9.6m | +70.6% |
| Other operating income | 74 | €374,042 | €146,625 | -€227,417 | -60.8% |
| Operating charges | 60/66A | €14,032,262 | €23,445,642 | +€9.4m | +67.1% |
| Goods for resale, raw materials and consumables | 60 | €13,649,056 | €23,290,115 | +€9.6m | +70.6% |
| Purchases | 600/8 | €13,649,056 | €23,290,115 | +€9.6m | +70.6% |
| Services and other goods | 61 | €382,113 | €154,400 | -€227,713 | -59.6% |
| Other operating charges | 640/8 | €1,094 | €1,126 | +€33 | +3.0% |
| Operating profit (loss) | 9901 | -€5,598 | -€8,371 | -€2,773 | -49.5% |
| Financial income | 75/76B | €210,358 | €609,970 | +€399,612 | +190% |
| Recurring financial income | 75 | €210,358 | €609,970 | +€399,612 | +190% |
| Income from current assets | 751 | €210,358 | €608,160 | +€397,803 | +189% |
| Other financial income | 752/9 | €0 | €1,810 | +€1,810 | |
| Financial charges | 65/66B | €3,956,698 | €3,781,091 | -€175,607 | -4.4% |
| Recurring financial charges | 65 | €3,956,698 | €3,781,091 | -€175,607 | -4.4% |
| Debt charges | 650 | €10 | €0 | -€10 | -100% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €3,956,175 | €3,780,589 | -€175,586 | -4.4% |
| Other financial charges | 652/9 | €514 | €502 | -€12 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | -€3,751,939 | -€3,179,493 | +€572,446 | +15.3% |
| Income taxes | 67/77 | €51,283 | €158,850 | +€107,567 | +210% |
| Taxes | 670/3 | €51,283 | €158,850 | +€107,567 | +210% |
| Profit (loss) for the period | 9904 | -€3,803,222 | -€3,338,342 | +€464,879 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,803,222 | -€3,338,342 | +€464,879 | +12.2% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.