PENEZ: 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.
PENEZ
Largest movements
- Cash -€42,110
down €42,110 (-45.1%), from €93,306 to €51,196
mainly Stocks and contracts (-€28,557) and Other debts (-€19,165)
- Stocks and contracts +€28,557
up €28,557 (+69.0%), from €41,393 to €69,950
of which Contracts in progress: +€27,678
- Receivables within one year +€15,029
up €15,029 (+88.6%), from €16,954 to €31,983
of which Trade receivables: +€11,415
- Tangible fixed assets -€13,103
down €13,103 (-6.0%), from €216,995 to €203,892
of which Furniture and vehicles: -€13,358
- Reserves +€20,679
up €20,679 (+18.1%), from €114,114 to €134,793
- Other debts -€19,165
down €19,165 (-30.0%), from €63,894 to €44,729
- Debts after one year -€5,455
down €5,455 (-3.8%), from €144,763 to €139,308
- Trade debts -€4,059
down €4,059 (-11.8%), from €34,254 to €30,195
- Gross operating margin +€16,591
up €16,591 (+36.1%), from €45,974 to €62,566
- Taxes +€5,809
up €5,809 (+140%), from €4,143 to €9,952
- Depreciation -€4,486
down €4,486 (-13.9%), from €32,332 to €27,847
- Financial charges -€1,660
down €1,660 (-36.4%), from €4,563 to €2,903
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 | €370,890 | €359,480 | -€11,410 | -3.1% |
| Fixed assets | 21/28 | €216,995 | €203,892 | -€13,103 | -6.0% |
| Tangible fixed assets | 22/27 | €216,995 | €203,892 | -€13,103 | -6.0% |
| Land and buildings | 22 | €185,550 | €188,727 | +€3,177 | +1.7% |
| Plant, machinery and equipment | 23 | €10,630 | €7,708 | -€2,923 | -27.5% |
| Furniture and vehicles | 24 | €20,816 | €7,458 | -€13,358 | -64.2% |
| Current assets | 29/58 | €153,894 | €155,588 | +€1,693 | +1.1% |
| Stocks and contracts in progress | 3 | €41,393 | €69,950 | +€28,557 | +69.0% |
| Stocks | 30/36 | €35,342 | €36,221 | +€879 | +2.5% |
| Contracts in progress | 37 | €6,051 | €33,729 | +€27,678 | +457% |
| Amounts receivable within one year | 40/41 | €16,954 | €31,983 | +€15,029 | +88.6% |
| Trade receivables | 40 | €8,584 | €19,999 | +€11,415 | +133% |
| Other amounts receivable | 41 | €8,370 | €11,983 | +€3,613 | +43.2% |
| Cash at bank and in hand | 54/58 | €93,306 | €51,196 | -€42,110 | -45.1% |
| Deferred charges and accrued income | 490/1 | €2,241 | €2,459 | +€218 | +9.7% |
| Total equity and liabilities | 10/49 | €370,890 | €359,480 | -€11,410 | -3.1% |
| Equity | 10/15 | €119,114 | €139,793 | +€20,679 | +17.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €114,114 | €134,793 | +€20,679 | +18.1% |
| Distributable reserves | 133 | €114,114 | €134,793 | +€20,679 | +18.1% |
| Amounts payable | 17/49 | €251,776 | €219,687 | -€32,089 | -12.7% |
| Amounts payable after more than one year | 17 | €144,763 | €139,308 | -€5,455 | -3.8% |
| Financial debts | 170/4 | €144,763 | €139,308 | -€5,455 | -3.8% |
| Amounts payable within one year | 42/48 | €107,013 | €80,379 | -€26,633 | -24.9% |
| Current portion of amounts payable after more than one year | 42 | €5,336 | €5,455 | +€120 | +2.2% |
| Trade debts | 44 | €34,254 | €30,195 | -€4,059 | -11.8% |
| Suppliers | 440/4 | €34,254 | €30,195 | -€4,059 | -11.8% |
| Taxes, remuneration and social security | 45 | €3,529 | €0 | -€3,529 | -100% |
| Taxes | 450/3 | €3,529 | €0 | -€3,529 | -100% |
| Other amounts payable | 47/48 | €63,894 | €44,729 | -€19,165 | -30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,332 | €27,847 | -€4,486 | -13.9% |
| Other operating charges | 640/8 | €1,598 | €1,436 | -€162 | -10.1% |
| Gross operating margin | 9900 | €45,974 | €62,566 | +€16,591 | +36.1% |
| Operating profit (loss) | 9901 | €12,044 | €33,283 | +€21,239 | +176% |
| Financial income | 75/76B | €185 | €252 | +€67 | +36.0% |
| Recurring financial income | 75 | €185 | €252 | +€67 | +36.0% |
| Financial charges | 65/66B | €4,563 | €2,903 | -€1,660 | -36.4% |
| Recurring financial charges | 65 | €4,563 | €2,903 | -€1,660 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | €7,667 | €30,632 | +€22,965 | +300% |
| Income taxes | 67/77 | €4,143 | €9,952 | +€5,809 | +140% |
| Profit (loss) for the period | 9904 | €3,523 | €20,679 | +€17,156 | +487% |
| Profit (loss) for the period to be appropriated | 9905 | €3,523 | €20,679 | +€17,156 | +487% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.