Penthai: 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.
Penthai
Largest movements
- Cash -€21,916
down €21,916 (-34.2%), from €64,025 to €42,109
mainly Debts after one year (-€32,762) and Current portion of long-term debt (-€29,595)
- Profit (loss) carried forward +€128,240
up €128,240 (+8896.3%), from €1,442 to €129,682
- Reserves -€120,658
down €120,658 (-98.5%), from €122,518 to €1,860
of which Distributable reserves: -€120,658
- Debts after one year -€32,762
down €32,762 (-7.8%), from €422,104 to €389,342
of which Financial debts: -€32,762
- Current portion of long-term debt -€29,595
down €29,595 (-44.0%), from €67,306 to €37,711
- Other debts +€26,746
new in 2025: €26,746
- Gross operating margin +€9,338
up €9,338 (+48.1%), from €19,411 to €28,749
- Financial charges +€2,712
up €2,712 (+45.9%), from €5,903 to €8,615
- Taxes +€1,325
up €1,325 (+79.9%), from €1,659 to €2,984
- Depreciation +€1,078
up €1,078 (+25.3%), from €4,259 to €5,337
- Other operating charges +€769
up €769 (+21.1%), from €3,640 to €4,409
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 | €637,425 | €617,590 | -€19,835 | -3.1% |
| Fixed assets | 21/28 | €566,104 | €567,410 | +€1,306 | +0.2% |
| Tangible fixed assets | 22/27 | €241,104 | €242,410 | +€1,306 | +0.5% |
| Land and buildings | 22 | €236,389 | €233,056 | -€3,333 | -1.4% |
| Plant, machinery and equipment | 23 | €4,715 | €6,164 | +€1,449 | +30.7% |
| Furniture and vehicles | 24 | - | €3,190 | +€3,190 | |
| Financial fixed assets | 28 | €325,000 | €325,000 | = | 0.0% |
| Current assets | 29/58 | €71,320 | €50,180 | -€21,140 | -29.6% |
| Stocks and contracts in progress | 3 | €1,197 | €3,015 | +€1,818 | +151.8% |
| Stocks | 30/36 | €1,197 | €3,015 | +€1,818 | +151.8% |
| Amounts receivable within one year | 40/41 | €4,081 | €1,789 | -€2,292 | -56.2% |
| Trade receivables | 40 | - | €1,789 | +€1,789 | |
| Other amounts receivable | 41 | €4,081 | - | -€4,081 | |
| Cash at bank and in hand | 54/58 | €64,025 | €42,109 | -€21,916 | -34.2% |
| Deferred charges and accrued income | 490/1 | €2,017 | €3,267 | +€1,250 | +62.0% |
| Total equity and liabilities | 10/49 | €637,425 | €617,590 | -€19,835 | -3.1% |
| Equity | 10/15 | €142,560 | €150,142 | +€7,582 | +5.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €122,518 | €1,860 | -€120,658 | -98.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €120,658 | - | -€120,658 | |
| Profit (loss) carried forward | 14 | €1,442 | €129,682 | +€128,240 | +8896.3% |
| Amounts payable | 17/49 | €494,865 | €467,448 | -€27,417 | -5.5% |
| Amounts payable after more than one year | 17 | €422,104 | €389,342 | -€32,762 | -7.8% |
| Financial debts | 170/4 | €417,604 | €384,842 | -€32,762 | -7.8% |
| Other amounts payable | 178/9 | €4,500 | €4,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €72,761 | €76,235 | +€3,474 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | €67,306 | €37,711 | -€29,595 | -44.0% |
| Trade debts | 44 | €3,972 | €3,972 | +€0 | 0.0% |
| Suppliers | 440/4 | €3,972 | €3,972 | +€0 | 0.0% |
| Taxes, remuneration and social security | 45 | €1,484 | €7,806 | +€6,322 | +426.0% |
| Taxes | 450/3 | €1,484 | €5,291 | +€3,807 | +256.6% |
| Remuneration and social security | 454/9 | - | €2,515 | +€2,515 | |
| Other amounts payable | 47/48 | - | €26,746 | +€26,746 | |
| Accrued charges and deferred income | 492/3 | - | €1,871 | +€1,871 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,259 | €5,337 | +€1,078 | +25.3% |
| Other operating charges | 640/8 | €3,640 | €4,409 | +€769 | +21.1% |
| Gross operating margin | 9900 | €19,411 | €28,749 | +€9,338 | +48.1% |
| Operating profit (loss) | 9901 | €11,512 | €19,003 | +€7,491 | +65.1% |
| Financial income | 75/76B | €708 | €178 | -€530 | -74.9% |
| Recurring financial income | 75 | €708 | €178 | -€530 | -74.9% |
| Financial charges | 65/66B | €5,903 | €8,615 | +€2,712 | +45.9% |
| Recurring financial charges | 65 | €5,903 | €8,615 | +€2,712 | +45.9% |
| Profit (loss) for the period before taxes | 9903 | €6,317 | €10,566 | +€4,249 | +67.3% |
| Income taxes | 67/77 | €1,659 | €2,984 | +€1,325 | +79.9% |
| Profit (loss) for the period | 9904 | €4,658 | €7,582 | +€2,924 | +62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,658 | €7,582 | +€2,924 | +62.8% |
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 9 October 2026 via checked.be.