PENNEKE DOP: what changed
PENNEKE DOP
Largest movements
- Cash +€26,942
up €26,942 (+132%), from €20,454 to €47,396
- Tangible fixed assets -€12,885
down €12,885 (-72.4%), from €17,794 to €4,909
of which Furniture and vehicles: -€7,552
- Deferred charges and accrued income +€10,568
up €10,568 (+360%), from €2,938 to €13,506
- Stocks and contracts +€1,866
up €1,866 (+27.4%), from €6,809 to €8,675
- Receivables within one year +€793
up €793 (+26.7%), from €2,972 to €3,765
of which Other amounts receivable: +€3,765
- Debts after one year -€27,000
no longer reported in 2025 (was €27,000)
- Short-term financial debts +€27,000
new in 2025: €27,000
- Profit (loss) carried forward +€15,763
up €15,763 (+46.7%), from -€33,731 to -€17,969
- Other debts +€8,270
up €8,270 (+32.2%), from €25,719 to €33,989
- Trade debts +€6,538
new in 2025: €6,538
- Gross operating margin -€4,989
down €4,989 (-28.9%), from €17,260 to €12,271
- Financial charges +€1,460
up €1,460 (+482%), from €303 to €1,763
- Depreciation +€1,107
up €1,107 (+24.0%), from €4,603 to €5,710
- Taxes +€235
new in 2025: €235
Change in the result, 2023 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.
Derived cash bridge
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €50,967 | €78,252 | +€27,285 | +53.5% |
| Fixed assets | 21/28 | €17,794 | €4,909 | -€12,885 | -72.4% |
| Tangible fixed assets | 22/27 | €17,794 | €4,909 | -€12,885 | -72.4% |
| Land and buildings | 22 | €1,220 | €421 | -€799 | -65.5% |
| Plant, machinery and equipment | 23 | €6,775 | €2,241 | -€4,534 | -66.9% |
| Furniture and vehicles | 24 | €9,799 | €2,247 | -€7,552 | -77.1% |
| Current assets | 29/58 | €33,173 | €73,343 | +€40,170 | +121% |
| Stocks and contracts in progress | 3 | €6,809 | €8,675 | +€1,866 | +27.4% |
| Stocks | 30/36 | €6,809 | €8,675 | +€1,866 | +27.4% |
| Amounts receivable within one year | 40/41 | €2,972 | €3,765 | +€793 | +26.7% |
| Trade receivables | 40 | €2,972 | - | -€2,972 | |
| Other amounts receivable | 41 | - | €3,765 | +€3,765 | |
| Cash at bank and in hand | 54/58 | €20,454 | €47,396 | +€26,942 | +132% |
| Deferred charges and accrued income | 490/1 | €2,938 | €13,506 | +€10,568 | +360% |
| Total equity and liabilities | 10/49 | €50,967 | €78,252 | +€27,285 | +53.5% |
| Equity | 10/15 | -€10,715 | €5,047 | +€15,763 | |
| Contributions | 10/11 | €18,200 | €18,200 | = | 0.0% |
| Reserves | 13 | €4,816 | €4,816 | = | 0.0% |
| Distributable reserves | 133 | €4,816 | €4,816 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,731 | -€17,969 | +€15,763 | +46.7% |
| Amounts payable | 17/49 | €61,682 | €73,204 | +€11,522 | +18.7% |
| Amounts payable after more than one year | 17 | €27,000 | - | -€27,000 | |
| Financial debts | 170/4 | €27,000 | - | -€27,000 | |
| Amounts payable within one year | 42/48 | €34,682 | €73,097 | +€38,415 | +111% |
| Financial debts | 43 | - | €27,000 | +€27,000 | |
| Other loans | 439 | - | €27,000 | +€27,000 | |
| Trade debts | 44 | - | €6,538 | +€6,538 | |
| Suppliers | 440/4 | - | €6,538 | +€6,538 | |
| Taxes, remuneration and social security | 45 | €8,963 | €5,570 | -€3,393 | -37.9% |
| Taxes | 450/3 | €6,301 | €5,570 | -€731 | -11.6% |
| Remuneration and social security | 454/9 | €2,662 | - | -€2,662 | |
| Other amounts payable | 47/48 | €25,719 | €33,989 | +€8,270 | +32.2% |
| Accrued charges and deferred income | 492/3 | - | €107 | +€107 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,603 | €5,710 | +€1,107 | +24.0% |
| Other operating charges | 640/8 | €636 | €670 | +€34 | +5.4% |
| Gross operating margin | 9900 | €17,260 | €12,271 | -€4,989 | -28.9% |
| Operating profit (loss) | 9901 | €12,021 | €5,891 | -€6,130 | -51.0% |
| Financial income | 75/76B | €0 | €14 | +€14 | +8,071% |
| Recurring financial income | 75 | €0 | €14 | +€14 | +8,071% |
| Financial charges | 65/66B | €303 | €1,763 | +€1,460 | +482% |
| Recurring financial charges | 65 | €303 | €1,763 | +€1,460 | +482% |
| Profit (loss) for the period before taxes | 9903 | €11,719 | €4,142 | -€7,577 | -64.7% |
| Income taxes | 67/77 | - | €235 | +€235 | |
| Profit (loss) for the period | 9904 | €11,719 | €3,907 | -€7,812 | -66.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,719 | €3,907 | -€7,812 | -66.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.