DW PENSAERT: 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.
DW PENSAERT
Largest movements
- Current assets +€36,970
up €36,970 (+52.0%), from €71,106 to €108,076
of which Receivables within one year: +€53,481
- Tangible fixed assets -€8,795
down €8,795 (-50.3%), from €17,485 to €8,690
- Debts +€15,015
up €15,015 (+18.5%), from €81,279 to €96,294
of which Debts within one year: +€25,708
- Profit (loss) carried forward +€13,160
up €13,160 (+79.6%), from -€16,525 to -€3,365
- Gross operating margin +€4,363
up €4,363 (+14.3%), from €30,607 to €34,970
- Taxes -€3,110
down €3,110 (-34.1%), from €9,111 to €6,001
- Depreciation -€365
down €365 (-4.7%), from €7,798 to €7,433
From the 2011 result to the 2012 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2011 | 2012 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €88,591 | €116,766 | +€28,175 | +31.8% |
| Fixed assets | 21/28 | €17,485 | €8,690 | -€8,795 | -50.3% |
| Tangible fixed assets | 22/27 | €17,485 | €8,690 | -€8,795 | -50.3% |
| Current assets | 29/58 | €71,106 | €108,076 | +€36,970 | +52.0% |
| Amounts receivable within one year | 40/41 | €29,336 | €82,817 | +€53,481 | +182% |
| Cash at bank and in hand | 54/58 | €35,074 | €20,934 | -€14,140 | -40.3% |
| Total equity and liabilities | 10/49 | €88,591 | €116,766 | +€28,175 | +31.8% |
| Equity | 10/15 | €7,312 | €20,472 | +€13,160 | +180% |
| Contributions | 10/11 | €18,100 | €18,100 | = | 0.0% |
| Reserves | 13 | €5,737 | €5,737 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,525 | -€3,365 | +€13,160 | +79.6% |
| Amounts payable | 17/49 | €81,279 | €96,294 | +€15,015 | +18.5% |
| Amounts payable after more than one year | 17 | €18,959 | €10,309 | -€8,650 | -45.6% |
| Amounts payable within one year | 42/48 | €58,626 | €84,334 | +€25,708 | +43.9% |
| Trade debts | 44 | €15,924 | €48,624 | +€32,700 | +205% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,798 | €7,433 | -€365 | -4.7% |
| Gross operating margin | 9900 | €30,607 | €34,970 | +€4,363 | +14.3% |
| Operating profit (loss) | 9901 | €20,966 | €25,853 | +€4,887 | +23.3% |
| Recurring financial income | 75 | €45 | €1,594 | +€1,549 | +3,442% |
| Recurring financial charges | 65 | €3,173 | €3,286 | +€113 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €17,838 | €24,161 | +€6,323 | +35.4% |
| Income taxes | 67/77 | €9,111 | €6,001 | -€3,110 | -34.1% |
| Profit (loss) for the period | 9904 | €8,727 | €18,160 | +€9,433 | +108% |
| Profit (loss) for the period to be appropriated | 9905 | €8,727 | €18,160 | +€9,433 | +108% |
Source: filed annual accounts (NBB), financial years ended 30 June 2011 and 30 June 2012. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.