PENMAN CONSULTING: what changed
What changed
PENMAN CONSULTING
NACE 73.300, Public relations and communication consultancy
filed annual accounts (NBB)
Net result for the year
€68,378
2024 · €103,803-€35,425
Equity
€1.2m
2024 · €1.1m+€68,378
Cash
€671,692
2024 · €1.2m-€555,238
Balance sheet total
€2.1m
2024 · €3.5m-€1.4m
Largest movements
Assets
- Receivables within one year -€885,424
down €885,424 (-39.4%), from €2.2m to €1.4m
of which Trade receivables: -€899,155
- Cash -€555,238
down €555,238 (-45.3%), from €1.2m to €671,692
mainly Trade debts (-€1.2m) and Tax, wage and social debts (-€341,672)
Equity and liabilities
- Trade debts -€1.2m
down €1.2m (-69.8%), from €1.7m to €513,811
- Tax, wage and social debts -€341,672
down €341,672 (-70.2%), from €486,627 to €144,955
of which Taxes: -€273,956
- Profit (loss) carried forward +€68,378
up €68,378 (+6.2%), from €1.1m to €1.2m
- Other debts +€36,009
new in 2025: €36,009
Income statement
- Gross operating margin -€532,029
down €532,029 (-34.5%), from €1.5m to €1.0m
- Staff costs -€439,417
down €439,417 (-38.9%), from €1.1m to €690,053
- Write-downs +€200,000
new in 2025: €200,000
- Taxes -€117,386
down €117,386 (-76.1%), from €154,184 to €36,798
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
€103,803
Gross operating margin
-€532,029
Staff costs
+€439,417
Depreciation
+€1,384
Write-downs
-€200,000
Other operating charges
+€4,645
Other operating items
+€130,586
Financial income
-€3,342
Financial charges
+€6,528
Taxes
+€117,386
Result 2025
€68,378
raises the resultlowers the resultnot broken down further in the accounts
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
-€555,238
Investment
€0
Financing
€0
Cash 2024
€1.2m
From operations (derived)
-€555,238
Net result for the year
+€68,378
Receivables within one year
+€885,424
Deferred charges and accrued income
-€12,613
Trade debts
-€1.2m
Tax, wage and social debts
-€341,672
Other debts
+€36,009
Accrued charges and deferred income
-€5,980
Cash 2025
€671,692
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,480,823 | €2,052,775 | -€1.4m | -41.0% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €3,480,823 | €2,052,775 | -€1.4m | -41.0% |
| Amounts receivable within one year | 40/41 | €2,248,357 | €1,362,934 | -€885,424 | -39.4% |
| Trade receivables | 40 | €2,208,439 | €1,309,283 | -€899,155 | -40.7% |
| Other amounts receivable | 41 | €39,919 | €53,650 | +€13,732 | +34.4% |
| Cash at bank and in hand | 54/58 | €1,226,930 | €671,692 | -€555,238 | -45.3% |
| Deferred charges and accrued income | 490/1 | €5,536 | €18,150 | +€12,613 | +228% |
| Total equity and liabilities | 10/49 | €3,480,823 | €2,052,775 | -€1.4m | -41.0% |
| Equity | 10/15 | €1,110,026 | €1,178,404 | +€68,378 | +6.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,095,771 | €1,164,149 | +€68,378 | +6.2% |
| Amounts payable | 17/49 | €2,370,797 | €874,371 | -€1.5m | -63.1% |
| Amounts payable within one year | 42/48 | €2,185,220 | €694,775 | -€1.5m | -68.2% |
| Trade debts | 44 | €1,698,593 | €513,811 | -€1.2m | -69.8% |
| Suppliers | 440/4 | €1,698,593 | €513,811 | -€1.2m | -69.8% |
| Taxes, remuneration and social security | 45 | €486,627 | €144,955 | -€341,672 | -70.2% |
| Taxes | 450/3 | €349,422 | €75,465 | -€273,956 | -78.4% |
| Remuneration and social security | 454/9 | €137,205 | €69,489 | -€67,716 | -49.4% |
| Other amounts payable | 47/48 | - | €36,009 | +€36,009 | |
| Accrued charges and deferred income | 492/3 | €185,577 | €179,597 | -€5,980 | -3.2% |
| Remuneration, social security and pensions | 62 | €1,129,470 | €690,053 | -€439,417 | -38.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,384 | €0 | -€1,384 | -100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €200,000 | +€200,000 | |
| Other operating charges | 640/8 | €11,329 | €6,684 | -€4,645 | -41.0% |
| Non-recurring operating charges | 66A | €130,586 | €0 | -€130,586 | -100% |
| Gross operating margin | 9900 | €1,541,965 | €1,009,937 | -€532,029 | -34.5% |
| Operating profit (loss) | 9901 | €269,197 | €113,200 | -€155,997 | -57.9% |
| Financial income | 75/76B | €5,416 | €2,074 | -€3,342 | -61.7% |
| Recurring financial income | 75 | €5,416 | €2,074 | -€3,342 | -61.7% |
| Financial charges | 65/66B | €16,626 | €10,098 | -€6,528 | -39.3% |
| Recurring financial charges | 65 | €16,626 | €10,098 | -€6,528 | -39.3% |
| Profit (loss) for the period before taxes | 9903 | €257,987 | €105,176 | -€152,811 | -59.2% |
| Income taxes | 67/77 | €154,184 | €36,798 | -€117,386 | -76.1% |
| Profit (loss) for the period | 9904 | €103,803 | €68,378 | -€35,425 | -34.1% |
| Profit (loss) for the period to be appropriated | 9905 | €103,803 | €68,378 | -€35,425 | -34.1% |
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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.