PENNAH: 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.
PENNAH
Largest movements
- Receivables within one year +€15,666
up €15,666 (+2702.2%), from €580 to €16,245
of which Trade receivables: +€10,561
- Cash -€9,993
down €9,993 (-81.0%), from €12,332 to €2,339
mainly Other debts (-€18,063) and Receivables within one year (-€15,666)
- Deferred charges and accrued income -€8,569
down €8,569 (-96.2%), from €8,912 to €343
- Tangible fixed assets -€8,459
down €8,459 (-41.5%), from €20,380 to €11,921
of which Furniture and vehicles: -€9,406
- Other debts -€18,063
no longer reported in 2025 (was €18,063)
- Advances received -€10,083
no longer reported in 2025 (was €10,083)
- Profit (loss) carried forward +€9,842
up €9,842 (+119.4%), from €8,243 to €18,085
- Current portion of long-term debt +€6,339
new in 2025: €6,339
- Tax, wage and social debts +€1,286
new in 2025: €1,286
- Gross operating margin +€4,961
up €4,961 (+24.6%), from €20,143 to €25,104
- Depreciation +€1,572
up €1,572 (+20.1%), from €7,839 to €9,410
- Taxes +€884
up €884 (+22.7%), from €3,902 to €4,786
- Financial charges +€724
up €724 (+1132.5%), from €64 to €788
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 | €42,204 | €30,848 | -€11,355 | -26.9% |
| Fixed assets | 21/28 | €20,380 | €11,921 | -€8,459 | -41.5% |
| Tangible fixed assets | 22/27 | €20,380 | €11,921 | -€8,459 | -41.5% |
| Plant, machinery and equipment | 23 | - | €947 | +€947 | |
| Furniture and vehicles | 24 | €20,380 | €10,974 | -€9,406 | -46.2% |
| Current assets | 29/58 | €21,823 | €18,927 | -€2,896 | -13.3% |
| Amounts receivable within one year | 40/41 | €580 | €16,245 | +€15,666 | +2702.2% |
| Trade receivables | 40 | - | €10,561 | +€10,561 | |
| Other amounts receivable | 41 | €580 | €5,684 | +€5,105 | +880.5% |
| Cash at bank and in hand | 54/58 | €12,332 | €2,339 | -€9,993 | -81.0% |
| Deferred charges and accrued income | 490/1 | €8,912 | €343 | -€8,569 | -96.2% |
| Total equity and liabilities | 10/49 | €42,204 | €30,848 | -€11,355 | -26.9% |
| Equity | 10/15 | €13,243 | €23,085 | +€9,842 | +74.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,243 | €18,085 | +€9,842 | +119.4% |
| Amounts payable | 17/49 | €28,961 | €7,763 | -€21,198 | -73.2% |
| Amounts payable within one year | 42/48 | €28,961 | €7,763 | -€21,198 | -73.2% |
| Current portion of amounts payable after more than one year | 42 | - | €6,339 | +€6,339 | |
| Trade debts | 44 | €815 | €138 | -€677 | -83.1% |
| Suppliers | 440/4 | €815 | €138 | -€677 | -83.1% |
| Advances received on contracts in progress | 46 | €10,083 | - | -€10,083 | |
| Taxes, remuneration and social security | 45 | - | €1,286 | +€1,286 | |
| Taxes | 450/3 | - | €1,286 | +€1,286 | |
| Other amounts payable | 47/48 | €18,063 | - | -€18,063 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,839 | €9,410 | +€1,572 | +20.1% |
| Other operating charges | 640/8 | €95 | €277 | +€182 | +191.6% |
| Gross operating margin | 9900 | €20,143 | €25,104 | +€4,961 | +24.6% |
| Operating profit (loss) | 9901 | €12,209 | €15,417 | +€3,207 | +26.3% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €64 | €788 | +€724 | +1132.5% |
| Recurring financial charges | 65 | €64 | €788 | +€724 | +1132.5% |
| Profit (loss) for the period before taxes | 9903 | €12,145 | €14,629 | +€2,484 | +20.5% |
| Income taxes | 67/77 | €3,902 | €4,786 | +€884 | +22.7% |
| Profit (loss) for the period | 9904 | €8,243 | €9,842 | +€1,600 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,243 | €9,842 | +€1,600 | +19.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.