PenA Invest: 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.
PenA Invest
Largest movements
- Tangible fixed assets -€32,739
down €32,739 (-2.0%), from €1.6m to €1.6m
- Receivables within one year -€24,000
down €24,000 (-50.0%), from €48,000 to €24,000
- Debts after one year -€51,787
down €51,787 (-5.8%), from €886,448 to €834,661
- Depreciation -€5,032
down €5,032 (-11.6%), from €43,278 to €38,246
- Financial charges -€3,336
down €3,336 (-9.4%), from €35,406 to €32,070
- Gross operating margin +€2,924
up €2,924 (+3.8%), from €76,312 to €79,236
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 | €1,683,533 | €1,626,359 | -€57,175 | -3.4% |
| Fixed assets | 21/28 | €1,631,285 | €1,598,546 | -€32,739 | -2.0% |
| Tangible fixed assets | 22/27 | €1,631,285 | €1,598,546 | -€32,739 | -2.0% |
| Land and buildings | 22 | €1,631,285 | €1,598,546 | -€32,739 | -2.0% |
| Current assets | 29/58 | €52,248 | €27,813 | -€24,435 | -46.8% |
| Amounts receivable within one year | 40/41 | €48,000 | €24,000 | -€24,000 | -50.0% |
| Trade receivables | 40 | €48,000 | €24,000 | -€24,000 | -50.0% |
| Cash at bank and in hand | 54/58 | €3,202 | €3,346 | +€144 | +4.5% |
| Deferred charges and accrued income | 490/1 | €1,046 | €467 | -€579 | -55.4% |
| Total equity and liabilities | 10/49 | €1,683,533 | €1,626,359 | -€57,175 | -3.4% |
| Equity | 10/15 | €18,654 | €22,499 | +€3,846 | +20.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,346 | -€2,501 | +€3,846 | +60.6% |
| Amounts payable | 17/49 | €1,664,880 | €1,603,859 | -€61,021 | -3.7% |
| Amounts payable after more than one year | 17 | €886,448 | €834,661 | -€51,787 | -5.8% |
| Financial debts | 170/4 | €886,448 | €834,661 | -€51,787 | -5.8% |
| Amounts payable within one year | 42/48 | €777,562 | €768,328 | -€9,234 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €49,995 | €51,787 | +€1,792 | +3.6% |
| Trade debts | 44 | €1,631 | €2,787 | +€1,156 | +70.9% |
| Suppliers | 440/4 | €1,631 | €2,787 | +€1,156 | +70.9% |
| Taxes, remuneration and social security | 45 | €1,708 | €1,886 | +€177 | +10.4% |
| Taxes | 450/3 | €1,708 | €1,886 | +€177 | +10.4% |
| Other amounts payable | 47/48 | €724,228 | €711,869 | -€12,359 | -1.7% |
| Accrued charges and deferred income | 492/3 | €870 | €870 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,278 | €38,246 | -€5,032 | -11.6% |
| Other operating charges | 640/8 | €4,401 | €5,080 | +€679 | +15.4% |
| Gross operating margin | 9900 | €76,312 | €79,236 | +€2,924 | +3.8% |
| Operating profit (loss) | 9901 | €28,633 | €35,910 | +€7,278 | +25.4% |
| Financial income | 75/76B | €427 | €6 | -€421 | -98.7% |
| Recurring financial income | 75 | €427 | €6 | -€421 | -98.7% |
| Financial charges | 65/66B | €35,406 | €32,070 | -€3,336 | -9.4% |
| Recurring financial charges | 65 | €35,406 | €32,070 | -€3,336 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,346 | €3,846 | +€10,192 | |
| Profit (loss) for the period | 9904 | -€6,346 | €3,846 | +€10,192 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,346 | €3,846 | +€10,192 |
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 18 October 2026 via checked.be.