PENNINCKX: what changed
What changed
PENNINCKX
NACE 47.221, Retail sale of meat and meat products, excluding game and poultry
filed annual accounts (NBB)
Net result for the year
€18,038
2024 · €18,669-€631
Equity
€182,610
2024 · €164,572+€18,038
Cash
€70,678
2024 · €48,420+€22,258
Balance sheet total
€466,132
2024 · €422,615+€43,517
Largest movements
Assets
- Stocks and contracts +€24,657
up €24,657 (+24.1%), from €102,235 to €126,892
- Cash +€22,258
up €22,258 (+46.0%), from €48,420 to €70,678
mainly Trade debts (+€42,685) and Depreciation (+€38,363)
Equity and liabilities
- Trade debts +€42,685
up €42,685 (+83.4%), from €51,211 to €93,896
- Reserves +€17,500
up €17,500 (+15.8%), from €111,054 to €128,554
- Accrued charges and deferred income -€9,928
down €9,928 (-65.6%), from €15,145 to €5,217
- Other debts -€8,220
down €8,220 (-28.9%), from €28,477 to €20,258
- Current portion of long-term debt +€7,591
up €7,591 (+19.5%), from €38,850 to €46,442
Income statement
- Staff costs +€18,385
up €18,385 (+26.1%), from €70,497 to €88,882
- Taxes -€7,957
down €7,957 (-54.9%), from €14,487 to €6,530
- Depreciation +€6,646
up €6,646 (+21.0%), from €31,718 to €38,363
- Gross operating margin +€4,548
up €4,548 (+2.6%), from €173,187 to €177,735
- Financial charges -€2,106
down €2,106 (-16.5%), from €12,803 to €10,696
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
€18,669
Gross operating margin
+€4,548
Staff costs
-€18,385
Depreciation
-€6,646
Other operating charges
+€1,598
Other operating items
+€8,000
Financial income
+€191
Financial charges
+€2,106
Taxes
+€7,957
Result 2025
€18,038
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
+€52,410
Investment
-€33,396
Financing
+€3,244
Cash 2024
€48,420
From operations (derived)
+€52,410
Net result for the year
+€18,038
Depreciation
+€38,363
Stocks and contracts
-€24,657
Receivables within one year
+€635
Deferred charges and accrued income
-€2,204
Trade debts
+€42,685
Tax, wage and social debts
-€1,952
Advances received
-€351
Other debts
-€8,220
Accrued charges and deferred income
-€9,928
Investment (derived)
-€33,396
Investment in fixed assets (net)
-€33,396
Financing
+€3,244
Debts after one year
-€4,347
Current portion of long-term debt
+€7,591
Cash 2025
€70,678
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €422,615 | €466,132 | +€43,517 | +10.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €260,398 | €255,431 | -€4,967 | -1.9% |
| Intangible fixed assets | 21 | €750 | €0 | -€750 | -100% |
| Tangible fixed assets | 22/27 | €259,297 | €255,081 | -€4,217 | -1.6% |
| Land and buildings | 22 | €134,523 | €136,616 | +€2,092 | +1.6% |
| Plant, machinery and equipment | 23 | €14,581 | €13,927 | -€653 | -4.5% |
| Furniture and vehicles | 24 | €110,194 | €104,537 | -€5,656 | -5.1% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Financial fixed assets | 28 | €351 | €351 | = | 0.0% |
| Current assets | 29/58 | €162,217 | €210,701 | +€48,484 | +29.9% |
| Stocks and contracts in progress | 3 | €102,235 | €126,892 | +€24,657 | +24.1% |
| Stocks | 30/36 | €102,235 | €126,892 | +€24,657 | +24.1% |
| Amounts receivable within one year | 40/41 | €4,576 | €3,941 | -€635 | -13.9% |
| Other amounts receivable | 41 | €4,576 | €3,941 | -€635 | -13.9% |
| Cash at bank and in hand | 54/58 | €48,420 | €70,678 | +€22,258 | +46.0% |
| Deferred charges and accrued income | 490/1 | €6,986 | €9,190 | +€2,204 | +31.6% |
| Total equity and liabilities | 10/49 | €422,615 | €466,132 | +€43,517 | +10.3% |
| Equity | 10/15 | €164,572 | €182,610 | +€18,038 | +11.0% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €111,054 | €128,554 | +€17,500 | +15.8% |
| Distributable reserves | 133 | €111,054 | €128,554 | +€17,500 | +15.8% |
| Profit (loss) carried forward | 14 | €8,519 | €9,057 | +€538 | +6.3% |
| Amounts payable | 17/49 | €258,043 | €283,522 | +€25,479 | +9.9% |
| Amounts payable after more than one year | 17 | €113,716 | €109,368 | -€4,347 | -3.8% |
| Financial debts | 170/4 | €113,716 | €109,368 | -€4,347 | -3.8% |
| Amounts payable within one year | 42/48 | €129,182 | €168,936 | +€39,754 | +30.8% |
| Current portion of amounts payable after more than one year | 42 | €38,850 | €46,442 | +€7,591 | +19.5% |
| Trade debts | 44 | €51,211 | €93,896 | +€42,685 | +83.4% |
| Suppliers | 440/4 | €51,211 | €93,896 | +€42,685 | +83.4% |
| Advances received on contracts in progress | 46 | €446 | €95 | -€351 | -78.7% |
| Taxes, remuneration and social security | 45 | €10,198 | €8,246 | -€1,952 | -19.1% |
| Remuneration and social security | 454/9 | €10,198 | €8,246 | -€1,952 | -19.1% |
| Other amounts payable | 47/48 | €28,477 | €20,258 | -€8,220 | -28.9% |
| Accrued charges and deferred income | 492/3 | €15,145 | €5,217 | -€9,928 | -65.6% |
| Non-recurring operating income | 76A | - | €4,560 | +€4,560 | |
| Remuneration, social security and pensions | 62 | €70,497 | €88,882 | +€18,385 | +26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,718 | €38,363 | +€6,646 | +21.0% |
| Other operating charges | 640/8 | €17,569 | €15,971 | -€1,598 | -9.1% |
| Non-recurring operating charges | 66A | €8,000 | - | -€8,000 | |
| Gross operating margin | 9900 | €173,187 | €177,735 | +€4,548 | +2.6% |
| Operating profit (loss) | 9901 | €45,403 | €34,519 | -€10,884 | -24.0% |
| Financial income | 75/76B | €555 | €745 | +€191 | +34.4% |
| Recurring financial income | 75 | €555 | €745 | +€191 | +34.4% |
| Financial charges | 65/66B | €12,803 | €10,696 | -€2,106 | -16.5% |
| Recurring financial charges | 65 | €12,803 | €10,696 | -€2,106 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €33,155 | €24,568 | -€8,587 | -25.9% |
| Income taxes | 67/77 | €14,487 | €6,530 | -€7,957 | -54.9% |
| Profit (loss) for the period | 9904 | €18,669 | €18,038 | -€631 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,669 | €18,038 | -€631 | -3.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.