PENTALEX: 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.
PENTALEX
Largest movements
- Deferred charges and accrued income +€31,672
up €31,672 (+1066.5%), from €2,970 to €34,642
- Cash -€15,905
down €15,905 (-30.0%), from €52,957 to €37,053
mainly Deferred charges and accrued income (-€31,672) and Net result for the year (-€2,820)
- Tangible fixed assets -€15,771
down €15,771 (-2.4%), from €649,605 to €633,834
No liability line moved by more than 1% of the balance sheet total.
- Taxes -€83,595
down €83,595 (-98.5%), from €84,872 to €1,276
- Gross operating margin -€15,378
down €15,378 (-47.4%), from €32,414 to €17,035
- Depreciation -€3,046
down €3,046 (-16.2%), from €18,817 to €15,771
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 | €710,822 | €705,528 | -€5,294 | -0.7% |
| Fixed assets | 21/28 | €649,605 | €633,834 | -€15,771 | -2.4% |
| Tangible fixed assets | 22/27 | €649,605 | €633,834 | -€15,771 | -2.4% |
| Land and buildings | 22 | €649,605 | €633,834 | -€15,771 | -2.4% |
| Current assets | 29/58 | €61,217 | €71,694 | +€10,477 | +17.1% |
| Amounts receivable within one year | 40/41 | €5,290 | €0 | -€5,290 | -100.0% |
| Trade receivables | 40 | €5,290 | €0 | -€5,290 | -100.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €52,957 | €37,053 | -€15,905 | -30.0% |
| Deferred charges and accrued income | 490/1 | €2,970 | €34,642 | +€31,672 | +1066.5% |
| Total equity and liabilities | 10/49 | €710,822 | €705,528 | -€5,294 | -0.7% |
| Equity | 10/15 | €593,169 | €590,349 | -€2,820 | -0.5% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €343,169 | €340,349 | -€2,820 | -0.8% |
| Tax-exempt reserves | 132 | €102,661 | €96,334 | -€6,326 | -6.2% |
| Distributable reserves | 133 | €240,509 | €244,015 | +€3,506 | +1.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €34,220 | €32,111 | -€2,109 | -6.2% |
| Deferred taxes | 168 | €34,220 | €32,111 | -€2,109 | -6.2% |
| Amounts payable | 17/49 | €83,433 | €83,067 | -€365 | -0.4% |
| Amounts payable within one year | 42/48 | €82,313 | €83,067 | +€755 | +0.9% |
| Trade debts | 44 | €1,140 | €1,837 | +€697 | +61.2% |
| Suppliers | 440/4 | €1,140 | €1,837 | +€697 | +61.2% |
| Taxes, remuneration and social security | 45 | €36,070 | €36,148 | +€77 | +0.2% |
| Taxes | 450/3 | €36,070 | €36,148 | +€77 | +0.2% |
| Other amounts payable | 47/48 | €45,102 | €45,082 | -€20 | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,120 | €0 | -€1,120 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,817 | €15,771 | -€3,046 | -16.2% |
| Other operating charges | 640/8 | €4,468 | €4,546 | +€78 | +1.7% |
| Gross operating margin | 9900 | €32,414 | €17,035 | -€15,378 | -47.4% |
| Operating profit (loss) | 9901 | €9,129 | -€3,281 | -€12,410 | |
| Financial charges | 65/66B | €389 | €372 | -€17 | -4.4% |
| Recurring financial charges | 65 | €389 | €372 | -€17 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | €8,740 | -€3,653 | -€12,393 | |
| Transfer from deferred taxes | 780 | €70,210 | €2,109 | -€68,102 | -97.0% |
| Income taxes | 67/77 | €84,872 | €1,276 | -€83,595 | -98.5% |
| Profit (loss) for the period | 9904 | -€5,921 | -€2,820 | +€3,101 | +52.4% |
| Transfer from tax-exempt reserves | 789 | €210,631 | €6,326 | -€204,305 | -97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €204,710 | €3,506 | -€201,204 | -98.3% |
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 3 October 2026 via checked.be.