PENTAGON: 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.
PENTAGON
Largest movements
- Current investments +€25,000
new in 2025: €25,000
- Cash -€24,598
down €24,598 (-35.5%), from €69,194 to €44,596
mainly Current investments (-€25,000) and Debts after one year (-€12,409)
- Tangible fixed assets -€7,725
down €7,725 (-3.6%), from €213,338 to €205,613
of which Land and buildings: -€7,725
- Receivables within one year +€6,050
new in 2025: €6,050
- Debts after one year -€12,409
down €12,409 (-11.2%), from €110,550 to €98,141
- Tax, wage and social debts +€12,166
up €12,166 (+191.2%), from €6,363 to €18,528
- Reserves +€11,504
up €11,504 (+24.7%), from €46,650 to €58,154
of which Distributable reserves: +€11,504
- Current portion of long-term debt -€8,785
down €8,785 (-35.8%), from €24,512 to €15,726
- Other debts -€3,054
down €3,054 (-4.1%), from €74,824 to €71,769
- Gross operating margin +€29,058
up €29,058 (+143.8%), from €20,210 to €49,267
- Taxes +€10,191
up €10,191 (+378.1%), from €2,695 to €12,886
- Other operating charges +€876
up €876 (+71.1%), from €1,232 to €2,108
- Financial charges -€747
down €747 (-19.0%), from €3,926 to €3,179
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 | €283,459 | €282,456 | -€1,003 | -0.4% |
| Fixed assets | 21/28 | €213,338 | €205,613 | -€7,725 | -3.6% |
| Tangible fixed assets | 22/27 | €213,338 | €205,613 | -€7,725 | -3.6% |
| Land and buildings | 22 | €191,913 | €184,189 | -€7,725 | -4.0% |
| Furniture and vehicles | 24 | €12,392 | €12,392 | = | 0.0% |
| Assets under construction and advance payments | 27 | €9,033 | €9,033 | = | 0.0% |
| Current assets | 29/58 | €70,121 | €76,843 | +€6,722 | +9.6% |
| Amounts receivable within one year | 40/41 | - | €6,050 | +€6,050 | |
| Trade receivables | 40 | - | €6,050 | +€6,050 | |
| Current investments | 50/53 | - | €25,000 | +€25,000 | |
| Cash at bank and in hand | 54/58 | €69,194 | €44,596 | -€24,598 | -35.5% |
| Deferred charges and accrued income | 490/1 | €928 | €1,197 | +€270 | +29.1% |
| Total equity and liabilities | 10/49 | €283,459 | €282,456 | -€1,003 | -0.4% |
| Equity | 10/15 | €65,339 | €76,843 | +€11,504 | +17.6% |
| Contributions | 10/11 | €600 | €600 | = | 0.0% |
| Reserves | 13 | €46,650 | €58,154 | +€11,504 | +24.7% |
| Non-distributable reserves | 130/1 | €60 | €60 | = | 0.0% |
| Reserves not available under the articles | 1311 | €60 | €60 | = | 0.0% |
| Distributable reserves | 133 | €46,590 | €58,094 | +€11,504 | +24.7% |
| Profit (loss) carried forward | 14 | €18,089 | €18,089 | = | 0.0% |
| Amounts payable | 17/49 | €218,120 | €205,614 | -€12,507 | -5.7% |
| Amounts payable after more than one year | 17 | €110,550 | €98,141 | -€12,409 | -11.2% |
| Financial debts | 170/4 | €110,550 | €98,141 | -€12,409 | -11.2% |
| Amounts payable within one year | 42/48 | €107,571 | €106,789 | -€781 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €24,512 | €15,726 | -€8,785 | -35.8% |
| Trade debts | 44 | €1,873 | €765 | -€1,107 | -59.1% |
| Suppliers | 440/4 | €1,873 | €765 | -€1,107 | -59.1% |
| Taxes, remuneration and social security | 45 | €6,363 | €18,528 | +€12,166 | +191.2% |
| Taxes | 450/3 | €6,363 | €18,528 | +€12,166 | +191.2% |
| Other amounts payable | 47/48 | €74,824 | €71,769 | -€3,054 | -4.1% |
| Accrued charges and deferred income | 492/3 | - | €683 | +€683 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,745 | €7,725 | -€20 | -0.3% |
| Other operating charges | 640/8 | €1,232 | €2,108 | +€876 | +71.1% |
| Gross operating margin | 9900 | €20,210 | €49,267 | +€29,058 | +143.8% |
| Operating profit (loss) | 9901 | €11,233 | €39,435 | +€28,202 | +251.1% |
| Financial income | 75/76B | €155 | €134 | -€20 | -13.1% |
| Recurring financial income | 75 | €155 | €134 | -€20 | -13.1% |
| Financial charges | 65/66B | €3,926 | €3,179 | -€747 | -19.0% |
| Recurring financial charges | 65 | €3,926 | €3,179 | -€747 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €7,461 | €36,390 | +€28,929 | +387.7% |
| Income taxes | 67/77 | €2,695 | €12,886 | +€10,191 | +378.1% |
| Profit (loss) for the period | 9904 | €4,766 | €23,504 | +€18,738 | +393.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,766 | €23,504 | +€18,738 | +393.2% |
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 11 October 2026 via checked.be.