MY-PEN: 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.
MY-PEN
Largest movements
- Receivables within one year +€74,770
up €74,770 (+22.0%), from €339,611 to €414,381
of which Trade receivables: +€84,418
- Tangible fixed assets -€35,994
down €35,994 (-4.7%), from €764,246 to €728,253
of which Land and buildings: -€28,203
- Cash +€24,122
up €24,122 (+39.2%), from €61,588 to €85,710
mainly Trade debts (+€91,879) and Depreciation (+€49,513)
- Trade debts +€91,879
up €91,879 (+193%), from €47,558 to €139,437
- Debts after one year -€37,188
down €37,188 (-8.0%), from €464,671 to €427,483
- Reserves +€30,000
up €30,000 (+15.2%), from €196,860 to €226,860
of which Distributable reserves: +€30,000
- Tax, wage and social debts -€15,513
down €15,513 (-48.3%), from €32,127 to €16,613
of which Taxes: -€19,412
- Staff costs +€77,710
up €77,710 (+75.9%), from €102,341 to €180,050
- Gross operating margin +€61,638
up €61,638 (+23.4%), from €263,049 to €324,688
- Taxes +€18,707
up €18,707 (+101%), from €18,453 to €37,160
- Depreciation +€12,495
up €12,495 (+33.8%), from €37,018 to €49,513
- Write-downs +€5,500
new in 2025: €5,500
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 | €1,172,985 | €1,234,383 | +€61,398 | +5.2% |
| Fixed assets | 21/28 | €764,246 | €728,253 | -€35,994 | -4.7% |
| Tangible fixed assets | 22/27 | €764,246 | €728,253 | -€35,994 | -4.7% |
| Land and buildings | 22 | €714,699 | €686,497 | -€28,203 | -3.9% |
| Plant, machinery and equipment | 23 | €29,598 | €24,676 | -€4,922 | -16.6% |
| Furniture and vehicles | 24 | €19,949 | €17,081 | -€2,869 | -14.4% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €408,739 | €506,130 | +€97,392 | +23.8% |
| Amounts receivable within one year | 40/41 | €339,611 | €414,381 | +€74,770 | +22.0% |
| Trade receivables | 40 | €318,082 | €402,499 | +€84,418 | +26.5% |
| Other amounts receivable | 41 | €21,530 | €11,882 | -€9,648 | -44.8% |
| Cash at bank and in hand | 54/58 | €61,588 | €85,710 | +€24,122 | +39.2% |
| Deferred charges and accrued income | 490/1 | €7,540 | €6,039 | -€1,501 | -19.9% |
| Total equity and liabilities | 10/49 | €1,172,985 | €1,234,383 | +€61,398 | +5.2% |
| Equity | 10/15 | €349,278 | €380,899 | +€31,621 | +9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €196,860 | €226,860 | +€30,000 | +15.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €195,000 | €225,000 | +€30,000 | +15.4% |
| Profit (loss) carried forward | 14 | €133,818 | €135,439 | +€1,621 | +1.2% |
| Amounts payable | 17/49 | €823,707 | €853,484 | +€29,777 | +3.6% |
| Amounts payable after more than one year | 17 | €464,671 | €427,483 | -€37,188 | -8.0% |
| Financial debts | 170/4 | €464,671 | €427,483 | -€37,188 | -8.0% |
| Amounts payable within one year | 42/48 | €132,577 | €199,542 | +€66,965 | +50.5% |
| Current portion of amounts payable after more than one year | 42 | €36,392 | €37,188 | +€796 | +2.2% |
| Financial debts | 43 | €36 | €71 | +€35 | +96.5% |
| Credit institutions | 430/8 | €36 | €71 | +€35 | +96.5% |
| Trade debts | 44 | €47,558 | €139,437 | +€91,879 | +193% |
| Suppliers | 440/4 | €47,558 | €139,437 | +€91,879 | +193% |
| Taxes, remuneration and social security | 45 | €32,127 | €16,613 | -€15,513 | -48.3% |
| Taxes | 450/3 | €20,021 | €609 | -€19,412 | -97.0% |
| Remuneration and social security | 454/9 | €12,106 | €16,004 | +€3,898 | +32.2% |
| Other amounts payable | 47/48 | €16,464 | €6,232 | -€10,232 | -62.1% |
| Accrued charges and deferred income | 492/3 | €226,459 | €226,459 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €102,341 | €180,050 | +€77,710 | +75.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,018 | €49,513 | +€12,495 | +33.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,500 | +€5,500 | |
| Other operating charges | 640/8 | €9,624 | €7,875 | -€1,750 | -18.2% |
| Gross operating margin | 9900 | €263,049 | €324,688 | +€61,638 | +23.4% |
| Operating profit (loss) | 9901 | €114,066 | €81,750 | -€32,316 | -28.3% |
| Financial income | 75/76B | €401 | €259 | -€142 | -35.4% |
| Recurring financial income | 75 | €401 | €259 | -€142 | -35.4% |
| Financial charges | 65/66B | €13,247 | €13,228 | -€19 | -0.1% |
| Recurring financial charges | 65 | €13,247 | €13,228 | -€19 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €101,220 | €68,781 | -€32,439 | -32.0% |
| Income taxes | 67/77 | €18,453 | €37,160 | +€18,707 | +101% |
| Profit (loss) for the period | 9904 | €82,767 | €31,621 | -€51,146 | -61.8% |
| Profit (loss) for the period to be appropriated | 9905 | €82,767 | €31,621 | -€51,146 | -61.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.