PENELESI: 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.
PENELESI
Largest movements
- Cash -€24,582
down €24,582 (-45.3%), from €54,319 to €29,737
mainly Other debts (-€59,876) and Tax, wage and social debts (-€467)
- Receivables within one year -€19,387
down €19,387 (-91.4%), from €21,208 to €1,821
of which Trade receivables: -€21,175
- Other debts -€59,876
down €59,876 (-22.1%), from €271,430 to €211,554
- Reserves +€16,139
up €16,139 (+23.2%), from €69,457 to €85,596
- Gross operating margin -€6,064
down €6,064 (-17.8%), from €33,975 to €27,911
- Taxes -€3,163
down €3,163 (-27.3%), from €11,587 to €8,424
- Other operating charges +€668
up €668 (+113.1%), from €590 to €1,258
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 | €408,860 | €364,892 | -€43,969 | -10.8% |
| Fixed assets | 21/28 | €333,333 | €333,333 | = | 0.0% |
| Financial fixed assets | 28 | €333,333 | €333,333 | = | 0.0% |
| Current assets | 29/58 | €75,527 | €31,558 | -€43,969 | -58.2% |
| Amounts receivable within one year | 40/41 | €21,208 | €1,821 | -€19,387 | -91.4% |
| Trade receivables | 40 | €21,175 | - | -€21,175 | |
| Other amounts receivable | 41 | €33 | €1,821 | +€1,788 | +5470.4% |
| Cash at bank and in hand | 54/58 | €54,319 | €29,737 | -€24,582 | -45.3% |
| Total equity and liabilities | 10/49 | €408,860 | €364,892 | -€43,969 | -10.8% |
| Equity | 10/15 | €133,243 | €149,382 | +€16,139 | +12.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €69,457 | €85,596 | +€16,139 | +23.2% |
| Distributable reserves | 133 | €69,457 | €85,596 | +€16,139 | +23.2% |
| Profit (loss) carried forward | 14 | €45,186 | €45,186 | = | 0.0% |
| Amounts payable | 17/49 | €275,617 | €215,510 | -€60,107 | -21.8% |
| Amounts payable within one year | 42/48 | €275,617 | €215,510 | -€60,107 | -21.8% |
| Trade debts | 44 | - | €236 | +€236 | |
| Suppliers | 440/4 | - | €236 | +€236 | |
| Taxes, remuneration and social security | 45 | €4,186 | €3,720 | -€467 | -11.2% |
| Taxes | 450/3 | €4,186 | €3,720 | -€467 | -11.2% |
| Other amounts payable | 47/48 | €271,430 | €211,554 | -€59,876 | -22.1% |
| Remuneration, social security and pensions | 62 | €1,934 | €2,016 | +€82 | +4.2% |
| Other operating charges | 640/8 | €590 | €1,258 | +€668 | +113.1% |
| Gross operating margin | 9900 | €33,975 | €27,911 | -€6,064 | -17.8% |
| Operating profit (loss) | 9901 | €31,451 | €24,637 | -€6,814 | -21.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €74 | €75 | +€2 | +2.0% |
| Recurring financial charges | 65 | €74 | €75 | +€2 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €31,378 | €24,562 | -€6,815 | -21.7% |
| Income taxes | 67/77 | €11,587 | €8,424 | -€3,163 | -27.3% |
| Profit (loss) for the period | 9904 | €19,791 | €16,139 | -€3,652 | -18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,791 | €16,139 | -€3,652 | -18.5% |
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 11 October 2026 via checked.be.