Pénates: 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.
Pénates
Largest movements
- Tangible fixed assets -€122,651
down €122,651 (-41.7%), from €293,820 to €171,169
of which Land and buildings: -€121,900
- Cash +€80,123
up €80,123 (+299.3%), from €26,774 to €106,897
mainly Investment in fixed assets (net) (+€121,900) and Net result for the year (+€11,068)
- Current investments +€25,000
new in 2025: €25,000
- Receivables within one year -€6,791
down €6,791 (-3.9%), from €173,674 to €166,882
of which Trade receivables: -€8,458
- Debts after one year -€34,212
down €34,212 (-7.6%), from €447,655 to €413,443
- Profit (loss) carried forward +€11,068
up €11,068 (+12.8%), from -€86,780 to -€75,711
- Gross operating margin -€22,568
down €22,568 (-43.3%), from €52,166 to €29,598
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.
Cash bridge derived
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 | €494,267 | €469,949 | -€24,319 | -4.9% |
| Fixed assets | 21/28 | €293,820 | €171,169 | -€122,651 | -41.7% |
| Tangible fixed assets | 22/27 | €293,820 | €171,169 | -€122,651 | -41.7% |
| Land and buildings | 22 | €292,000 | €170,100 | -€121,900 | -41.7% |
| Plant, machinery and equipment | 23 | €1,820 | €1,069 | -€751 | -41.2% |
| Current assets | 29/58 | €200,447 | €298,779 | +€98,332 | +49.1% |
| Amounts receivable within one year | 40/41 | €173,674 | €166,882 | -€6,791 | -3.9% |
| Trade receivables | 40 | €159,658 | €151,200 | -€8,458 | -5.3% |
| Other amounts receivable | 41 | €14,015 | €15,682 | +€1,667 | +11.9% |
| Current investments | 50/53 | - | €25,000 | +€25,000 | |
| Cash at bank and in hand | 54/58 | €26,774 | €106,897 | +€80,123 | +299.3% |
| Total equity and liabilities | 10/49 | €494,267 | €469,949 | -€24,319 | -4.9% |
| Equity | 10/15 | €43,220 | €54,289 | +€11,068 | +25.6% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,780 | -€75,711 | +€11,068 | +12.8% |
| Amounts payable | 17/49 | €451,047 | €415,660 | -€35,387 | -7.8% |
| Amounts payable after more than one year | 17 | €447,655 | €413,443 | -€34,212 | -7.6% |
| Other amounts payable | 178/9 | €447,655 | €413,443 | -€34,212 | -7.6% |
| Amounts payable within one year | 42/48 | €3,392 | €2,217 | -€1,175 | -34.6% |
| Trade debts | 44 | €2,281 | €2,217 | -€64 | -2.8% |
| Suppliers | 440/4 | €2,281 | €2,217 | -€64 | -2.8% |
| Taxes, remuneration and social security | 45 | €1,111 | €0 | -€1,111 | -100.0% |
| Taxes | 450/3 | €1,111 | €0 | -€1,111 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €751 | €751 | = | 0.0% |
| Other operating charges | 640/8 | €889 | €665 | -€224 | -25.2% |
| Non-recurring operating charges | 66A | - | €16,900 | +€16,900 | |
| Gross operating margin | 9900 | €52,166 | €29,598 | -€22,568 | -43.3% |
| Operating profit (loss) | 9901 | €50,527 | €11,283 | -€39,244 | -77.7% |
| Financial charges | 65/66B | €184 | €214 | +€30 | +16.4% |
| Recurring financial charges | 65 | €184 | €214 | +€30 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €50,343 | €11,068 | -€39,274 | -78.0% |
| Profit (loss) for the period | 9904 | €50,343 | €11,068 | -€39,274 | -78.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,343 | €11,068 | -€39,274 | -78.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.