PENSEZ TMCVA: 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.
PENSEZ TMCVA
Largest movements
- Tangible fixed assets +€26,485
new in 2025: €26,485
- Receivables within one year -€18,717
down €18,717 (-94.6%), from €19,775 to €1,058
- Cash +€12,169
up €12,169 (+111%), from €11,006 to €23,175
mainly Receivables within one year (+€18,717) and Net result for the year (+€13,751)
- Intangible fixed assets -€1,875
down €1,875 (-100%), from €1,875 to €0
- Deferred charges and accrued income -€586
down €586 (-80.1%), from €732 to €146
- Reserves +€13,751
up €13,751 (+62.5%), from €22,017 to €35,768
of which Distributable reserves: +€13,751
- Tax, wage and social debts +€6,208
up €6,208 (+401%), from €1,549 to €7,757
- Current portion of long-term debt -€2,413
down €2,413 (-100%), from €2,413 to €0
- Taxes +€6,708
up €6,708 (+640%), from €1,049 to €7,757
- Gross operating margin +€4,901
up €4,901 (+24.0%), from €20,426 to €25,326
- Depreciation -€3,983
down €3,983 (-53.1%), from €7,500 to €3,517
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.
Derived cash bridge
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 | €33,388 | €50,864 | +€17,476 | +52.3% |
| Fixed assets | 21/28 | €1,875 | €26,485 | +€24,610 | +1,313% |
| Intangible fixed assets | 21 | €1,875 | €0 | -€1,875 | -100% |
| Tangible fixed assets | 22/27 | - | €26,485 | +€26,485 | |
| Land and buildings | 22 | - | €26,485 | +€26,485 | |
| Current assets | 29/58 | €31,513 | €24,379 | -€7,134 | -22.6% |
| Amounts receivable within one year | 40/41 | €19,775 | €1,058 | -€18,717 | -94.6% |
| Other amounts receivable | 41 | €19,775 | €1,058 | -€18,717 | -94.6% |
| Cash at bank and in hand | 54/58 | €11,006 | €23,175 | +€12,169 | +111% |
| Deferred charges and accrued income | 490/1 | €732 | €146 | -€586 | -80.1% |
| Total equity and liabilities | 10/49 | €33,388 | €50,864 | +€17,476 | +52.3% |
| Equity | 10/15 | €29,078 | €42,829 | +€13,751 | +47.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €22,017 | €35,768 | +€13,751 | +62.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €20,157 | €33,908 | +€13,751 | +68.2% |
| Profit (loss) carried forward | 14 | €861 | €861 | = | 0.0% |
| Amounts payable | 17/49 | €4,310 | €8,035 | +€3,725 | +86.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €4,310 | €8,035 | +€3,725 | +86.4% |
| Current portion of amounts payable after more than one year | 42 | €2,413 | €0 | -€2,413 | -100% |
| Trade debts | 44 | €349 | €278 | -€70 | -20.2% |
| Suppliers | 440/4 | €349 | €278 | -€70 | -20.2% |
| Taxes, remuneration and social security | 45 | €1,549 | €7,757 | +€6,208 | +401% |
| Taxes | 450/3 | €1,549 | €7,757 | +€6,208 | +401% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,500 | €3,517 | -€3,983 | -53.1% |
| Other operating charges | 640/8 | €672 | €748 | +€75 | +11.2% |
| Gross operating margin | 9900 | €20,426 | €25,326 | +€4,901 | +24.0% |
| Operating profit (loss) | 9901 | €12,253 | €21,062 | +€8,809 | +71.9% |
| Financial income | 75/76B | €527 | €564 | +€37 | +7.1% |
| Recurring financial income | 75 | €527 | €564 | +€37 | +7.1% |
| Financial charges | 65/66B | €207 | €118 | -€89 | -43.0% |
| Recurring financial charges | 65 | €207 | €118 | -€89 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | €12,573 | €21,508 | +€8,935 | +71.1% |
| Income taxes | 67/77 | €1,049 | €7,757 | +€6,708 | +640% |
| Profit (loss) for the period | 9904 | €11,524 | €13,751 | +€2,227 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,524 | €13,751 | +€2,227 | +19.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.