PENGIN: what changed
Two fiscal 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.
PENGIN
Largest movements
- Cash +€29,491
up €29,491 (+181.2%), from €16,274 to €45,765
mainly Net result for the year (+€48,137) and Receivables within one year (+€11,475)
- Receivables within one year -€11,475
down €11,475 (-32.8%), from €34,944 to €23,470
of which Trade receivables: -€11,638
- Tangible fixed assets +€1,596
up €1,596 (+298.5%), from €535 to €2,131
- Profit (loss) carried forward +€47,304
up €47,304 (+453.3%), from €10,435 to €57,739
- Other debts -€25,596
down €25,596 (-96.8%), from €26,429 to €833
- Trade debts -€3,966
down €3,966 (-87.4%), from €4,537 to €571
- Tax, wage and social debts +€2,005
up €2,005 (+16.9%), from €11,892 to €13,897
- Gross operating margin +€22,968
up €22,968 (+56.6%), from €40,585 to €63,554
- Taxes +€4,875
up €4,875 (+56.8%), from €8,579 to €13,454
- Financial charges +€1,552
up €1,552 (+1693.1%), from €92 to €1,644
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 | €53,792 | €73,540 | +€19,747 | +36.7% |
| Fixed assets | 21/28 | €535 | €2,131 | +€1,596 | +298.5% |
| Tangible fixed assets | 22/27 | €535 | €2,131 | +€1,596 | +298.5% |
| Furniture and vehicles | 24 | €535 | €2,131 | +€1,596 | +298.5% |
| Current assets | 29/58 | €53,258 | €71,409 | +€18,151 | +34.1% |
| Amounts receivable within one year | 40/41 | €34,944 | €23,470 | -€11,475 | -32.8% |
| Trade receivables | 40 | €34,934 | €23,296 | -€11,638 | -33.3% |
| Other amounts receivable | 41 | €10 | €174 | +€164 | +1650.9% |
| Cash at bank and in hand | 54/58 | €16,274 | €45,765 | +€29,491 | +181.2% |
| Deferred charges and accrued income | 490/1 | €2,040 | €2,174 | +€135 | +6.6% |
| Total equity and liabilities | 10/49 | €53,792 | €73,540 | +€19,747 | +36.7% |
| Equity | 10/15 | €10,935 | €58,239 | +€47,304 | +432.6% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,435 | €57,739 | +€47,304 | +453.3% |
| Amounts payable | 17/49 | €42,858 | €15,301 | -€27,557 | -64.3% |
| Amounts payable within one year | 42/48 | €42,858 | €15,301 | -€27,557 | -64.3% |
| Trade debts | 44 | €4,537 | €571 | -€3,966 | -87.4% |
| Suppliers | 440/4 | €4,537 | €571 | -€3,966 | -87.4% |
| Taxes, remuneration and social security | 45 | €11,892 | €13,897 | +€2,005 | +16.9% |
| Taxes | 450/3 | €11,892 | €13,897 | +€2,005 | +16.9% |
| Other amounts payable | 47/48 | €26,429 | €833 | -€25,596 | -96.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28 | €332 | +€304 | +1081.1% |
| Other operating charges | 640/8 | €23 | - | -€23 | |
| Gross operating margin | 9900 | €40,585 | €63,554 | +€22,968 | +56.6% |
| Operating profit (loss) | 9901 | €40,534 | €63,221 | +€22,687 | +56.0% |
| Financial income | 75/76B | - | €13 | +€13 | |
| Recurring financial income | 75 | - | €13 | +€13 | |
| Financial charges | 65/66B | €92 | €1,644 | +€1,552 | +1693.1% |
| Recurring financial charges | 65 | €92 | €1,644 | +€1,552 | +1693.1% |
| Profit (loss) for the period before taxes | 9903 | €40,442 | €61,591 | +€21,148 | +52.3% |
| Income taxes | 67/77 | €8,579 | €13,454 | +€4,875 | +56.8% |
| Profit (loss) for the period | 9904 | €31,863 | €48,137 | +€16,274 | +51.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,863 | €48,137 | +€16,274 | +51.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.