PENEN DRILLING SYSTEM: 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.
PENEN DRILLING SYSTEM
Largest movements
- Cash +€316,744
up €316,744 (+131%), from €241,673 to €558,418
mainly Trade debts (+€365,115) and Stocks and contracts (+€101,887)
- Receivables within one year +€168,763
up €168,763 (+36.0%), from €468,594 to €637,357
of which Trade receivables: +€160,263
- Stocks and contracts -€101,887
down €101,887 (-10.9%), from €933,714 to €831,827
- Trade debts +€365,115
up €365,115 (+76.4%), from €477,975 to €843,090
- Profit (loss) carried forward +€43,994
up €43,994 (+5.6%), from €789,991 to €833,984
- Other debts -€29,512
no longer reported in 2025 (was €29,512)
- Goods and materials -€261,540
down €261,540 (-11.6%), from €2.2m to €2.0m
of which Purchases: -€537,171
- Services and other goods +€174,625
up €174,625 (+28.4%), from €614,843 to €789,468
- Turnover -€67,910
down €67,910 (-2.3%), from €3.0m to €2.9m
- Write-downs +€62,000
new in 2025: €62,000
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,645,646 | €2,041,592 | +€395,946 | +24.1% |
| Current assets | 29/58 | €1,645,646 | €2,041,592 | +€395,946 | +24.1% |
| Stocks and contracts in progress | 3 | €933,714 | €831,827 | -€101,887 | -10.9% |
| Stocks | 30/36 | €933,714 | €831,827 | -€101,887 | -10.9% |
| Raw materials and consumables | 30/31 | €58,942 | €51,917 | -€7,025 | -11.9% |
| Goods purchased for resale | 34 | €874,772 | €779,910 | -€94,862 | -10.8% |
| Amounts receivable within one year | 40/41 | €468,594 | €637,357 | +€168,763 | +36.0% |
| Trade receivables | 40 | €462,094 | €622,357 | +€160,263 | +34.7% |
| Other amounts receivable | 41 | €6,500 | €15,000 | +€8,500 | +131% |
| Cash at bank and in hand | 54/58 | €241,673 | €558,418 | +€316,744 | +131% |
| Deferred charges and accrued income | 490/1 | €1,665 | €13,990 | +€12,326 | +740% |
| Total equity and liabilities | 10/49 | €1,645,646 | €2,041,592 | +€395,946 | +24.1% |
| Equity | 10/15 | €1,119,991 | €1,163,984 | +€43,994 | +3.9% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €789,991 | €833,984 | +€43,994 | +5.6% |
| Amounts payable | 17/49 | €525,655 | €877,607 | +€351,952 | +67.0% |
| Amounts payable within one year | 42/48 | €525,425 | €877,377 | +€351,952 | +67.0% |
| Trade debts | 44 | €477,975 | €843,090 | +€365,115 | +76.4% |
| Suppliers | 440/4 | €477,975 | €843,090 | +€365,115 | +76.4% |
| Taxes, remuneration and social security | 45 | €17,938 | €34,288 | +€16,349 | +91.1% |
| Taxes | 450/3 | €17,938 | €34,288 | +€16,349 | +91.1% |
| Other amounts payable | 47/48 | €29,512 | - | -€29,512 | |
| Accrued charges and deferred income | 492/3 | €230 | €230 | = | 0.0% |
| Operating income | 70/76A | €2,965,752 | €2,896,394 | -€69,359 | -2.3% |
| Turnover | 70 | €2,962,752 | €2,894,842 | -€67,910 | -2.3% |
| Other operating income | 74 | - | €1,551 | +€1,551 | |
| Non-recurring operating income | 76A | €3,000 | - | -€3,000 | |
| Operating charges | 60/66A | €2,865,391 | €2,840,526 | -€24,865 | -0.9% |
| Goods for resale, raw materials and consumables | 60 | €2,249,321 | €1,987,781 | -€261,540 | -11.6% |
| Purchases | 600/8 | €2,423,065 | €1,885,894 | -€537,171 | -22.2% |
| Change in stocks: decrease (increase) | 609 | -€173,744 | €101,887 | +€275,631 | |
| Services and other goods | 61 | €614,843 | €789,468 | +€174,625 | +28.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €62,000 | +€62,000 | |
| Other operating charges | 640/8 | €1,227 | €1,278 | +€51 | +4.1% |
| Operating profit (loss) | 9901 | €100,361 | €55,867 | -€44,494 | -44.3% |
| Financial income | 75/76B | €1,009 | €29,898 | +€28,889 | +2,862% |
| Recurring financial income | 75 | €1,009 | €29,898 | +€28,889 | +2,862% |
| Other financial income | 752/9 | €1,009 | €29,898 | +€28,889 | +2,862% |
| Financial charges | 65/66B | €9,015 | €27,183 | +€18,167 | +202% |
| Recurring financial charges | 65 | €9,015 | €27,183 | +€18,167 | +202% |
| Debt charges | 650 | €54 | - | -€54 | |
| Other financial charges | 652/9 | €8,961 | €27,183 | +€18,222 | +203% |
| Profit (loss) for the period before taxes | 9903 | €92,355 | €58,583 | -€33,773 | -36.6% |
| Income taxes | 67/77 | €23,434 | €14,589 | -€8,846 | -37.7% |
| Taxes | 670/3 | €23,500 | €15,000 | -€8,500 | -36.2% |
| Tax adjustments and reversals of tax provisions | 77 | €66 | €411 | +€346 | +527% |
| Profit (loss) for the period | 9904 | €68,921 | €43,994 | -€24,927 | -36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €68,921 | €43,994 | -€24,927 | -36.2% |
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 30 October 2026 via checked.be.