PENALTY: what changed
Two fiscal 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.
PENALTY
Largest movements
- Receivables within one year -€20,328
down €20,328 (-2.7%), from €765,616 to €745,288
of which Other amounts receivable: -€19,377
- Other debts +€59,294
up €59,294 (+9.9%), from €600,000 to €659,294
- Tax, wage and social debts -€51,553
down €51,553 (-30.8%), from €167,152 to €115,598
of which Taxes: -€36,288
- Profit (loss) carried forward -€20,577
down €20,577 (-4.8%), from €429,265 to €408,688
- Contributions +€18,600
new in 2024: €18,600
- Debts after one year -€18,600
no longer reported in 2024 (was €18,600)
- Staff costs -€36,808
down €36,808 (-13.4%), from €274,021 to €237,214
- Gross operating margin -€34,108
down €34,108 (-8.2%), from €414,187 to €380,079
- Taxes -€22,735
down €22,735 (-36.5%), from €62,231 to €39,496
- Other operating charges -€6,784
down €6,784 (-5.4%), from €126,321 to €119,538
- Financial income -€4,438
down €4,438 (-96.6%), from €4,595 to €157
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,231,860 | €1,204,394 | -€27,466 | -2.2% |
| Fixed assets | 21/28 | €5,555 | €5,655 | +€100 | +1.8% |
| Financial fixed assets | 28 | €5,555 | €5,655 | +€100 | +1.8% |
| Current assets | 29/58 | €1,226,305 | €1,198,739 | -€27,566 | -2.2% |
| Amounts receivable within one year | 40/41 | €765,616 | €745,288 | -€20,328 | -2.7% |
| Trade receivables | 40 | €951 | - | -€951 | |
| Other amounts receivable | 41 | €764,665 | €745,288 | -€19,377 | -2.5% |
| Cash at bank and in hand | 54/58 | €460,689 | €449,600 | -€11,089 | -2.4% |
| Deferred charges and accrued income | 490/1 | - | €3,851 | +€3,851 | |
| Total equity and liabilities | 10/49 | €1,231,860 | €1,204,394 | -€27,466 | -2.2% |
| Equity | 10/15 | €431,125 | €429,148 | -€1,977 | -0.5% |
| Contributions | 10/11 | - | €18,600 | +€18,600 | |
| Outside capital | 11 | - | €18,600 | +€18,600 | |
| Other | 1109/19 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €429,265 | €408,688 | -€20,577 | -4.8% |
| Amounts payable | 17/49 | €800,735 | €775,247 | -€25,489 | -3.2% |
| Amounts payable after more than one year | 17 | €18,600 | - | -€18,600 | |
| Financial debts | 170/4 | €18,600 | - | -€18,600 | |
| Amounts payable within one year | 42/48 | €782,135 | €775,247 | -€6,889 | -0.9% |
| Trade debts | 44 | €14,984 | €355 | -€14,629 | -97.6% |
| Suppliers | 440/4 | €14,984 | €355 | -€14,629 | -97.6% |
| Taxes, remuneration and social security | 45 | €167,152 | €115,598 | -€51,553 | -30.8% |
| Taxes | 450/3 | €82,435 | €46,148 | -€36,288 | -44.0% |
| Remuneration and social security | 454/9 | €84,717 | €69,451 | -€15,266 | -18.0% |
| Other amounts payable | 47/48 | €600,000 | €659,294 | +€59,294 | +9.9% |
| Remuneration, social security and pensions | 62 | €274,021 | €237,214 | -€36,808 | -13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,633 | - | -€1,633 | |
| Other operating charges | 640/8 | €126,321 | €119,538 | -€6,784 | -5.4% |
| Gross operating margin | 9900 | €414,187 | €380,079 | -€34,108 | -8.2% |
| Operating profit (loss) | 9901 | €12,211 | €23,327 | +€11,116 | +91.0% |
| Financial income | 75/76B | €4,595 | €157 | -€4,438 | -96.6% |
| Recurring financial income | 75 | €4,595 | €157 | -€4,438 | -96.6% |
| Financial charges | 65/66B | €284 | €4,565 | +€4,281 | +1504.7% |
| Recurring financial charges | 65 | €284 | €4,565 | +€4,281 | +1504.7% |
| Profit (loss) for the period before taxes | 9903 | €16,522 | €18,919 | +€2,397 | +14.5% |
| Income taxes | 67/77 | €62,231 | €39,496 | -€22,735 | -36.5% |
| Profit (loss) for the period | 9904 | -€45,709 | -€20,577 | +€25,132 | +55.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,709 | -€20,577 | +€25,132 | +55.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.