PENIM: 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.
PENIM
Largest movements
- Receivables within one year +€33,546
up €33,546 (+38.6%), from €86,845 to €120,391
- Cash -€11,408
down €11,408 (-26.5%), from €43,082 to €31,674
mainly Receivables within one year (-€33,546) and Trade debts (-€7,339)
- Tangible fixed assets -€6,634
down €6,634 (-38.9%), from €17,049 to €10,415
- Profit (loss) carried forward +€20,859
up €20,859, from -€17,210 to €3,649
- Trade debts -€7,339
down €7,339 (-50.7%), from €14,483 to €7,144
- Advances received +€2,000
new in 2025: €2,000
- Current portion of long-term debt -€1,975
no longer reported in 2025 (was €1,975)
- Tax, wage and social debts +€1,720
up €1,720 (+37.0%), from €4,647 to €6,367
of which Taxes: +€4,651
- Gross operating margin +€46,497
up €46,497, from -€22,923 to €23,574
- Financial income +€2,303
up €2,303 (+57.9%), from €3,977 to €6,280
- Taxes +€1,090
up €1,090 (+246.0%), from €443 to €1,533
- Financial charges +€276
up €276 (+249.3%), from €111 to €387
- Depreciation -€253
down €253 (-3.7%), from €6,888 to €6,634
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 | €147,495 | €163,136 | +€15,641 | +10.6% |
| Fixed assets | 21/28 | €17,049 | €10,415 | -€6,634 | -38.9% |
| Tangible fixed assets | 22/27 | €17,049 | €10,415 | -€6,634 | -38.9% |
| Furniture and vehicles | 24 | €17,049 | €10,415 | -€6,634 | -38.9% |
| Current assets | 29/58 | €130,445 | €152,721 | +€22,275 | +17.1% |
| Amounts receivable within one year | 40/41 | €86,845 | €120,391 | +€33,546 | +38.6% |
| Other amounts receivable | 41 | €86,845 | €120,391 | +€33,546 | +38.6% |
| Cash at bank and in hand | 54/58 | €43,082 | €31,674 | -€11,408 | -26.5% |
| Deferred charges and accrued income | 490/1 | €518 | €656 | +€137 | +26.5% |
| Total equity and liabilities | 10/49 | €147,495 | €163,136 | +€15,641 | +10.6% |
| Equity | 10/15 | €126,390 | €147,249 | +€20,859 | +16.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €125,000 | €125,000 | = | 0.0% |
| Distributable reserves | 133 | €125,000 | €125,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,210 | €3,649 | +€20,859 | |
| Amounts payable | 17/49 | €21,104 | €15,886 | -€5,218 | -24.7% |
| Amounts payable within one year | 42/48 | €21,104 | €15,511 | -€5,593 | -26.5% |
| Current portion of amounts payable after more than one year | 42 | €1,975 | - | -€1,975 | |
| Trade debts | 44 | €14,483 | €7,144 | -€7,339 | -50.7% |
| Suppliers | 440/4 | €14,483 | €7,144 | -€7,339 | -50.7% |
| Advances received on contracts in progress | 46 | - | €2,000 | +€2,000 | |
| Taxes, remuneration and social security | 45 | €4,647 | €6,367 | +€1,720 | +37.0% |
| Taxes | 450/3 | €1,716 | €6,367 | +€4,651 | +271.0% |
| Remuneration and social security | 454/9 | €2,931 | - | -€2,931 | |
| Accrued charges and deferred income | 492/3 | - | €375 | +€375 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,888 | €6,634 | -€253 | -3.7% |
| Other operating charges | 640/8 | €499 | €440 | -€59 | -11.8% |
| Gross operating margin | 9900 | -€22,923 | €23,574 | +€46,497 | |
| Operating profit (loss) | 9901 | -€30,310 | €16,499 | +€46,809 | |
| Financial income | 75/76B | €3,977 | €6,280 | +€2,303 | +57.9% |
| Recurring financial income | 75 | €3,977 | €6,280 | +€2,303 | +57.9% |
| Financial charges | 65/66B | €111 | €387 | +€276 | +249.3% |
| Recurring financial charges | 65 | €111 | €387 | +€276 | +249.3% |
| Profit (loss) for the period before taxes | 9903 | -€26,444 | €22,392 | +€48,836 | |
| Income taxes | 67/77 | €443 | €1,533 | +€1,090 | +246.0% |
| Profit (loss) for the period | 9904 | -€26,887 | €20,859 | +€47,746 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,887 | €20,859 | +€47,746 |
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 11 October 2026 via checked.be.