Penta Projects: 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.
Penta Projects
Largest movements
- Receivables within one year +€24,003
up €24,003 (+22.1%), from €108,452 to €132,454
of which Trade receivables: +€28,876
- Cash +€18,082
up €18,082 (+17.5%), from €103,404 to €121,487
mainly Net result for the year (+€86,235) and Depreciation (+€24,160)
- Debts after one year -€55,985
down €55,985 (-15.0%), from €372,252 to €316,268
- Reserves +€54,253
up €54,253 (+16.0%), from €339,774 to €394,027
- Trade debts +€19,319
up €19,319 (+63.0%), from €30,682 to €50,001
- Tax, wage and social debts +€11,389
up €11,389 (+21.2%), from €53,726 to €65,114
of which Taxes: +€10,064
- Gross operating margin +€28,667
up €28,667 (+17.5%), from €163,809 to €192,476
- Depreciation -€19,868
down €19,868 (-45.1%), from €44,028 to €24,160
- Taxes +€14,949
up €14,949 (+56.0%), from €26,696 to €41,645
- Other operating charges +€3,864
up €3,864 (+71.3%), from €5,420 to €9,284
- Financial charges -€2,511
down €2,511 (-11.7%), from €21,445 to €18,934
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 | €943,235 | €977,111 | +€33,876 | +3.6% |
| Fixed assets | 21/28 | €646,980 | €646,982 | +€2 | 0.0% |
| Intangible fixed assets | 21 | €112 | €0 | -€112 | -100.0% |
| Tangible fixed assets | 22/27 | €646,667 | €646,782 | +€114 | 0.0% |
| Land and buildings | 22 | €621,697 | €611,477 | -€10,220 | -1.6% |
| Plant, machinery and equipment | 23 | €16,337 | €12,031 | -€4,306 | -26.4% |
| Furniture and vehicles | 24 | €8,633 | €23,275 | +€14,641 | +169.6% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €296,256 | €330,130 | +€33,874 | +11.4% |
| Stocks and contracts in progress | 3 | €83,417 | €75,247 | -€8,170 | -9.8% |
| Stocks | 30/36 | €83,417 | €75,247 | -€8,170 | -9.8% |
| Amounts receivable within one year | 40/41 | €108,452 | €132,454 | +€24,003 | +22.1% |
| Trade receivables | 40 | €100,101 | €128,977 | +€28,876 | +28.8% |
| Other amounts receivable | 41 | €8,351 | €3,478 | -€4,873 | -58.4% |
| Cash at bank and in hand | 54/58 | €103,404 | €121,487 | +€18,082 | +17.5% |
| Deferred charges and accrued income | 490/1 | €983 | €942 | -€41 | -4.2% |
| Total equity and liabilities | 10/49 | €943,235 | €977,111 | +€33,876 | +3.6% |
| Equity | 10/15 | €352,174 | €406,427 | +€54,253 | +15.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €339,774 | €394,027 | +€54,253 | +16.0% |
| Distributable reserves | 133 | €339,774 | €394,027 | +€54,253 | +16.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €591,061 | €570,684 | -€20,377 | -3.4% |
| Amounts payable after more than one year | 17 | €372,252 | €316,268 | -€55,985 | -15.0% |
| Financial debts | 170/4 | €372,252 | €316,268 | -€55,985 | -15.0% |
| Amounts payable within one year | 42/48 | €214,160 | €251,356 | +€37,196 | +17.4% |
| Current portion of amounts payable after more than one year | 42 | €54,346 | €55,985 | +€1,639 | +3.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €30,682 | €50,001 | +€19,319 | +63.0% |
| Suppliers | 440/4 | €30,682 | €50,001 | +€19,319 | +63.0% |
| Taxes, remuneration and social security | 45 | €53,726 | €65,114 | +€11,389 | +21.2% |
| Taxes | 450/3 | €52,410 | €62,474 | +€10,064 | +19.2% |
| Remuneration and social security | 454/9 | €1,315 | €2,640 | +€1,325 | +100.7% |
| Other amounts payable | 47/48 | €75,407 | €80,256 | +€4,849 | +6.4% |
| Accrued charges and deferred income | 492/3 | €4,649 | €3,060 | -€1,589 | -34.2% |
| Non-recurring operating income | 76A | - | €7 | +€7 | |
| Remuneration, social security and pensions | 62 | €17,919 | €17,066 | -€853 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,028 | €24,160 | -€19,868 | -45.1% |
| Other operating charges | 640/8 | €5,420 | €9,284 | +€3,864 | +71.3% |
| Non-recurring operating charges | 66A | - | €50 | +€50 | |
| Gross operating margin | 9900 | €163,809 | €192,476 | +€28,667 | +17.5% |
| Operating profit (loss) | 9901 | €96,442 | €141,916 | +€45,474 | +47.2% |
| Financial income | 75/76B | €5,151 | €4,898 | -€253 | -4.9% |
| Recurring financial income | 75 | €5,151 | €4,898 | -€253 | -4.9% |
| Financial charges | 65/66B | €21,445 | €18,934 | -€2,511 | -11.7% |
| Recurring financial charges | 65 | €21,445 | €18,934 | -€2,511 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €80,148 | €127,880 | +€47,732 | +59.6% |
| Income taxes | 67/77 | €26,696 | €41,645 | +€14,949 | +56.0% |
| Profit (loss) for the period | 9904 | €53,452 | €86,235 | +€32,783 | +61.3% |
| Profit (loss) for the period to be appropriated | 9905 | €53,452 | €86,235 | +€32,783 | +61.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.