PENDA: 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.
What changed
PENDA
NACE 74.111, Design of textile patterns, clothing, jewellery, furniture and decorative items
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€17,955
2024 · -€6,632-€11,324
Equity
-€39,441
2024 · -€21,485-€17,955
Cash
€3,017
2024 · €144+€2,873
Balance sheet total
€69,823
2024 · €85,370-€15,547
Largest movements
Assets
- Stocks and contracts -€18,167
down €18,167 (-21.7%), from €83,642 to €65,475
of which Stocks: -€18,167
- Cash +€2,873
up €2,873 (+1,996%), from €144 to €3,017
mainly Stocks and contracts (+€18,167) and Other debts (+€4,662)
Equity and liabilities
- Profit (loss) carried forward -€17,955
down €17,955 (-25.1%), from -€71,485 to -€89,441
- Other debts +€4,662
up €4,662 (+4.5%), from €104,583 to €109,245
- Trade debts -€2,167
down €2,167 (-99.1%), from €2,186 to €19
of which Suppliers: -€2,167
Income statement
- Write-downs +€17,835
new in 2025: €17,835
- Gross operating margin +€5,481
up €5,481, from -€5,317 to €164
- Purchases and services -€3,002
down €3,002 (-56.5%), from €5,317 to €2,316
- Turnover +€2,479
new in 2025: €2,479
- Other operating charges -€860
down €860 (-100%), from €860 to €0
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.
Result 2024
-€6,632
Gross operating margin
+€5,481
Depreciation
+€109
Write-downs
-€17,835
Other operating charges
+€860
Financial charges
+€62
Result 2025
-€17,955
raises the resultlowers the result
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.
From operations
+€2,872
Investment
+€0
Financing
€0
Cash 2024
€144
From operations (derived)
+€2,872
Net result for the year
-€17,955
Depreciation
+€276
Stocks and contracts
+€18,167
Deferred charges and accrued income
-€25
Trade debts
-€2,167
Tax, wage and social debts
-€87
Other debts
+€4,662
Investment (derived)
+€0
Investment in fixed assets (net)
+€0
Cash 2025
€3,017
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €85,370 | €69,823 | -€15,547 | -18.2% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €1,336 | €1,060 | -€277 | -20.7% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €1,336 | €1,060 | -€277 | -20.7% |
| Land and buildings | 22 | - | €0 | = | |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | - | €0 | = | |
| Leasing and similar rights | 25 | - | €0 | = | |
| Other tangible fixed assets | 26 | €1,336 | €1,060 | -€277 | -20.7% |
| Assets under construction and advance payments | 27 | - | €0 | = | |
| Financial fixed assets | 28 | - | €0 | = | |
| Current assets | 29/58 | €84,033 | €68,764 | -€15,270 | -18.2% |
| Amounts receivable after more than one year | 29 | - | €0 | = | |
| Trade receivables | 290 | - | €0 | = | |
| Other amounts receivable | 291 | - | €0 | = | |
| Stocks and contracts in progress | 3 | €83,642 | €65,475 | -€18,167 | -21.7% |
| Stocks | 30/36 | €83,642 | €65,475 | -€18,167 | -21.7% |
| Contracts in progress | 37 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | - | €0 | = | |
| Trade receivables | 40 | - | €0 | = | |
| Other amounts receivable | 41 | - | €0 | = | |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €144 | €3,017 | +€2,873 | +1,996% |
| Deferred charges and accrued income | 490/1 | €247 | €272 | +€25 | +10.0% |
| Total equity and liabilities | 10/49 | €85,370 | €69,823 | -€15,547 | -18.2% |
| Equity | 10/15 | -€21,485 | -€39,441 | -€17,955 | -83.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €0 | = | |
| Reserves | 13 | - | €0 | = | |
| Non-distributable reserves | 130/1 | - | €0 | = | |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Own shares acquired | 1312 | - | €0 | = | |
| Financial assistance | 1313 | - | €0 | = | |
| Other | 1319 | - | €0 | = | |
| Tax-exempt reserves | 132 | - | €0 | = | |
| Distributable reserves | 133 | - | €0 | = | |
| Profit (loss) carried forward | 14 | -€71,485 | -€89,441 | -€17,955 | -25.1% |
| Investment grants | 15 | - | €0 | = | |
| Advance to shareholders on the distribution of net assets | 19 | - | €0 | = | |
| Provisions and deferred taxes | 16 | - | €0 | = | |
| Provisions for liabilities and charges | 160/5 | - | €0 | = | |
| Pensions and similar obligations | 160 | - | €0 | = | |
| Taxes | 161 | - | €0 | = | |
| Major repairs and maintenance | 162 | - | €0 | = | |
| Environmental obligations | 163 | - | €0 | = | |
| Other liabilities and charges | 164/5 | - | €0 | = | |
| Deferred taxes | 168 | - | €0 | = | |
| Amounts payable | 17/49 | €106,855 | €109,264 | +€2,409 | +2.3% |
| Amounts payable after more than one year | 17 | - | €0 | = | |
| Financial debts | 170/4 | - | €0 | = | |
| Trade debts | 175 | - | €0 | = | |
| Advances received on contracts in progress | 176 | - | €0 | = | |
| Other amounts payable | 178/9 | - | €0 | = | |
| Amounts payable within one year | 42/48 | €106,855 | €109,264 | +€2,409 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | - | €0 | = | |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Other loans | 439 | - | €0 | = | |
| Trade debts | 44 | €2,186 | €19 | -€2,167 | -99.1% |
| Suppliers | 440/4 | €2,186 | €19 | -€2,167 | -99.1% |
| Bills of exchange payable | 441 | - | €0 | = | |
| Advances received on contracts in progress | 46 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €87 | €0 | -€87 | -100% |
| Taxes | 450/3 | €87 | €0 | -€87 | -100% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €104,583 | €109,245 | +€4,662 | +4.5% |
| Accrued charges and deferred income | 492/3 | - | €0 | = | |
| Turnover | 70 | - | €2,479 | +€2,479 | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €5,317 | €2,316 | -€3,002 | -56.5% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €385 | €276 | -€109 | -28.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €17,835 | +€17,835 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €0 | = | |
| Other operating charges | 640/8 | €860 | €0 | -€860 | -100% |
| Operating charges capitalised as restructuring costs | 649 | - | €0 | = | |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | -€5,317 | €164 | +€5,481 | |
| Operating profit (loss) | 9901 | -€6,562 | -€17,948 | -€11,386 | -174% |
| Financial income | 75/76B | - | €0 | = | |
| Recurring financial income | 75 | - | €0 | = | |
| Non-recurring financial income | 76B | - | €0 | = | |
| Financial charges | 65/66B | €70 | €8 | -€62 | -89.2% |
| Recurring financial charges | 65 | €70 | €8 | -€62 | -89.2% |
| Non-recurring financial charges | 66B | - | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | -€6,632 | -€17,955 | -€11,324 | -171% |
| Transfer from deferred taxes | 780 | - | €0 | = | |
| Transfer to deferred taxes | 680 | - | €0 | = | |
| Income taxes | 67/77 | - | €0 | = | |
| Profit (loss) for the period | 9904 | -€6,632 | -€17,955 | -€11,324 | -171% |
| Transfer from tax-exempt reserves | 789 | - | €0 | = | |
| Transfer to tax-exempt reserves | 689 | - | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,632 | -€17,955 | -€11,324 | -171% |
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 21 October 2026 via checked.be.