PERMENTIER: 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.
PERMENTIER
Largest movements
- Receivables within one year +€36,759
up €36,759 (+94.7%), from €38,803 to €75,562
of which Trade receivables: +€32,676
- Cash -€24,090
down €24,090 (-43.3%), from €55,684 to €31,594
mainly Receivables within one year (-€36,759) and Investment in fixed assets (net) (-€27,403)
- Tangible fixed assets +€9,841
up €9,841 (+14.9%), from €65,986 to €75,827
of which Land and buildings: +€27,204
- Trade debts +€29,179
up €29,179 (+21126.0%), from €138 to €29,317
- Tax, wage and social debts -€9,746
down €9,746 (-83.0%), from €11,738 to €1,992
of which Taxes: -€9,862
- Reserves +€6,573
up €6,573 (+4.5%), from €147,411 to €153,984
- Other debts -€3,137
no longer reported in 2026 (was €3,137)
- Gross operating margin -€32,986
down €32,986 (-52.1%), from €63,296 to €30,310
- Taxes -€11,648
down €11,648 (-74.7%), from €15,590 to €3,942
- Depreciation +€1,888
up €1,888 (+12.0%), from €15,674 to €17,562
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €161,667 | €184,097 | +€22,430 | +13.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €65,986 | €75,827 | +€9,841 | +14.9% |
| Tangible fixed assets | 22/27 | €65,986 | €75,827 | +€9,841 | +14.9% |
| Land and buildings | 22 | €0 | €27,204 | +€27,204 | |
| Plant, machinery and equipment | 23 | €3,440 | €2,644 | -€796 | -23.1% |
| Furniture and vehicles | 24 | €35,643 | €23,408 | -€12,235 | -34.3% |
| Other tangible fixed assets | 26 | €26,903 | €22,570 | -€4,333 | -16.1% |
| Current assets | 29/58 | €95,681 | €108,270 | +€12,589 | +13.2% |
| Amounts receivable within one year | 40/41 | €38,803 | €75,562 | +€36,759 | +94.7% |
| Trade receivables | 40 | €38,803 | €71,479 | +€32,676 | +84.2% |
| Other amounts receivable | 41 | €0 | €4,083 | +€4,083 | |
| Current investments | 50/53 | €750 | - | -€750 | |
| Cash at bank and in hand | 54/58 | €55,684 | €31,594 | -€24,090 | -43.3% |
| Deferred charges and accrued income | 490/1 | €444 | €1,114 | +€670 | +150.7% |
| Total equity and liabilities | 10/49 | €161,667 | €184,097 | +€22,430 | +13.9% |
| Equity | 10/15 | €146,214 | €152,787 | +€6,573 | +4.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €147,411 | €153,984 | +€6,573 | +4.5% |
| Distributable reserves | 133 | €147,411 | €153,984 | +€6,573 | +4.5% |
| Profit (loss) carried forward | 14 | -€2,197 | -€2,197 | = | 0.0% |
| Amounts payable | 17/49 | €15,453 | €31,309 | +€15,857 | +102.6% |
| Amounts payable within one year | 42/48 | €15,453 | €31,309 | +€15,857 | +102.6% |
| Current portion of amounts payable after more than one year | 42 | €439 | - | -€439 | |
| Trade debts | 44 | €138 | €29,317 | +€29,179 | +21126.0% |
| Suppliers | 440/4 | €138 | €29,317 | +€29,179 | +21126.0% |
| Taxes, remuneration and social security | 45 | €11,738 | €1,992 | -€9,746 | -83.0% |
| Taxes | 450/3 | €10,112 | €249 | -€9,862 | -97.5% |
| Remuneration and social security | 454/9 | €1,627 | €1,743 | +€116 | +7.1% |
| Other amounts payable | 47/48 | €3,137 | - | -€3,137 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,674 | €17,562 | +€1,888 | +12.0% |
| Other operating charges | 640/8 | €1,894 | €1,580 | -€314 | -16.6% |
| Non-recurring operating charges | 66A | €1,182 | €372 | -€810 | -68.5% |
| Gross operating margin | 9900 | €63,296 | €30,310 | -€32,986 | -52.1% |
| Operating profit (loss) | 9901 | €44,545 | €10,795 | -€33,750 | -75.8% |
| Financial income | 75/76B | €73 | €10 | -€64 | -86.8% |
| Recurring financial income | 75 | €73 | €10 | -€64 | -86.8% |
| Financial charges | 65/66B | €312 | €290 | -€22 | -7.1% |
| Recurring financial charges | 65 | €312 | €290 | -€22 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €44,307 | €10,515 | -€33,792 | -76.3% |
| Income taxes | 67/77 | €15,590 | €3,942 | -€11,648 | -74.7% |
| Profit (loss) for the period | 9904 | €28,717 | €6,573 | -€22,144 | -77.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,717 | €6,573 | -€22,144 | -77.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.