PENELOPE-ANTWERPEN: what changed
What changed
PENELOPE-ANTWERPEN
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
€280,077
2024 · €14,236+€265,841
Equity
€273,624
2024 · -€6,453+€280,077
Cash
€153,868
2024 · €8,861+€145,007
Balance sheet total
€1.3m
2024 · €2.0m-€737,713
Largest movements
Assets
- Stocks and contracts -€626,142
down €626,142 (-40.3%), from €1.6m to €925,868
- Receivables within one year -€251,244
down €251,244 (-87.9%), from €285,923 to €34,679
of which Other amounts receivable: -€267,464
- Cash +€145,007
up €145,007 (+1,636%), from €8,861 to €153,868
mainly Stocks and contracts (+€626,142) and Net result for the year (+€280,077)
Equity and liabilities
- Other debts -€1.0m
down €1.0m (-61.0%), from €1.7m to €671,339
- Profit (loss) carried forward +€280,077
up €280,077, from -€14,520 to €265,557
- Tax, wage and social debts +€279,241
new in 2025: €279,241
- Accrued charges and deferred income -€153,139
no longer reported in 2025 (was €153,139)
- Trade debts -€77,365
down €77,365 (-70.8%), from €109,224 to €31,859
Income statement
- Gross operating margin +€346,822
up €346,822 (+1,127%), from €30,761 to €377,583
- Taxes +€77,406
new in 2025: €77,406
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€14,236
Gross operating margin
+€346,822
Depreciation
-€238
Other operating charges
-€2,586
Financial income
-€1,576
Financial charges
+€825
Taxes
-€77,406
Result 2025
€280,077
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€162,275
Investment
-€238
Financing
-€17,030
Cash 2024
€8,861
From operations (derived)
+€162,275
Net result for the year
+€280,077
Depreciation
+€9,914
Stocks and contracts
+€626,142
Receivables within one year
+€251,244
Deferred charges and accrued income
-€4,342
Trade debts
-€77,365
Tax, wage and social debts
+€279,241
Other debts
-€1.0m
Accrued charges and deferred income
-€153,139
Investment (derived)
-€238
Investment in fixed assets (net)
-€238
Financing
-€17,030
Debts after one year
-€17,845
Current portion of long-term debt
+€815
Cash 2025
€153,868
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,016,214 | €1,278,501 | -€737,713 | -36.6% |
| Fixed assets | 21/28 | €169,420 | €159,744 | -€9,676 | -5.7% |
| Tangible fixed assets | 22/27 | €165,801 | €156,125 | -€9,676 | -5.8% |
| Land and buildings | 22 | €165,801 | €156,125 | -€9,676 | -5.8% |
| Financial fixed assets | 28 | €3,619 | €3,619 | = | 0.0% |
| Current assets | 29/58 | €1,846,794 | €1,118,757 | -€728,037 | -39.4% |
| Stocks and contracts in progress | 3 | €1,552,010 | €925,868 | -€626,142 | -40.3% |
| Stocks | 30/36 | €1,552,010 | €925,868 | -€626,142 | -40.3% |
| Amounts receivable within one year | 40/41 | €285,923 | €34,679 | -€251,244 | -87.9% |
| Trade receivables | 40 | €15,000 | €31,220 | +€16,220 | +108% |
| Other amounts receivable | 41 | €270,923 | €3,459 | -€267,464 | -98.7% |
| Cash at bank and in hand | 54/58 | €8,861 | €153,868 | +€145,007 | +1,636% |
| Deferred charges and accrued income | 490/1 | - | €4,342 | +€4,342 | |
| Total equity and liabilities | 10/49 | €2,016,214 | €1,278,501 | -€737,713 | -36.6% |
| Equity | 10/15 | -€6,453 | €273,624 | +€280,077 | |
| Contributions | 10/11 | €6,208 | €6,208 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,520 | €265,557 | +€280,077 | |
| Amounts payable | 17/49 | €2,022,667 | €1,004,877 | -€1.0m | -50.3% |
| Amounts payable after more than one year | 17 | €22,438 | €4,593 | -€17,845 | -79.5% |
| Other amounts payable | 178/9 | €22,438 | €4,593 | -€17,845 | -79.5% |
| Amounts payable within one year | 42/48 | €1,847,090 | €1,000,284 | -€846,806 | -45.8% |
| Current portion of amounts payable after more than one year | 42 | €17,030 | €17,845 | +€815 | +4.8% |
| Trade debts | 44 | €109,224 | €31,859 | -€77,365 | -70.8% |
| Suppliers | 440/4 | €109,224 | €31,859 | -€77,365 | -70.8% |
| Taxes, remuneration and social security | 45 | - | €279,241 | +€279,241 | |
| Taxes | 450/3 | - | €279,241 | +€279,241 | |
| Other amounts payable | 47/48 | €1,720,836 | €671,339 | -€1.0m | -61.0% |
| Accrued charges and deferred income | 492/3 | €153,139 | - | -€153,139 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,676 | €9,914 | +€238 | +2.5% |
| Other operating charges | 640/8 | €6,115 | €8,701 | +€2,586 | +42.3% |
| Gross operating margin | 9900 | €30,761 | €377,583 | +€346,822 | +1,127% |
| Operating profit (loss) | 9901 | €14,970 | €358,968 | +€343,998 | +2,298% |
| Financial income | 75/76B | €1,576 | - | -€1,576 | |
| Recurring financial income | 75 | €1,576 | - | -€1,576 | |
| Non-recurring financial income | 76B | €1,576 | - | -€1,576 | |
| Financial charges | 65/66B | €2,310 | €1,485 | -€825 | -35.7% |
| Recurring financial charges | 65 | €2,310 | €1,485 | -€825 | -35.7% |
| Profit (loss) for the period before taxes | 9903 | €14,236 | €357,483 | +€343,247 | +2,411% |
| Income taxes | 67/77 | - | €77,406 | +€77,406 | |
| Profit (loss) for the period | 9904 | €14,236 | €280,077 | +€265,841 | +1,867% |
| Profit (loss) for the period to be appropriated | 9905 | €14,236 | €280,077 | +€265,841 | +1,867% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.