Pertinax Capital: 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.
Pertinax Capital
Largest movements
- Current investments +€55,900
up €55,900 (+15.8%), from €354,035 to €409,935
- Cash -€16,704
down €16,704 (-29.3%), from €56,932 to €40,228
mainly Contributions, distributions and other (-€89,113) and Current investments (-€55,900)
- Other debts +€26,813
up €26,813 (+12.8%), from €209,800 to €236,613
- Tax, wage and social debts +€6,810
up €6,810 (+505%), from €1,348 to €8,158
- Financial income +€40,872
up €40,872 (+93.8%), from €43,554 to €84,426
- Financial charges -€39,490
down €39,490 (-53.8%), from €73,413 to €33,922
- Gross operating margin -€27,056
down €27,056 (-26.8%), from €100,815 to €73,759
- Taxes -€2,190
down €2,190 (-6.6%), from €33,348 to €31,158
- Other operating charges -€2,049
down €2,049 (-44.5%), from €4,601 to €2,552
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.
Derived cash bridge
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 | €416,751 | €454,878 | +€38,127 | +9.1% |
| Current assets | 29/58 | €416,751 | €454,878 | +€38,127 | +9.1% |
| Amounts receivable within one year | 40/41 | €5,464 | €3,942 | -€1,523 | -27.9% |
| Trade receivables | 40 | €5,020 | €3,731 | -€1,289 | -25.7% |
| Other amounts receivable | 41 | €444 | €210 | -€234 | -52.7% |
| Current investments | 50/53 | €354,035 | €409,935 | +€55,900 | +15.8% |
| Cash at bank and in hand | 54/58 | €56,932 | €40,228 | -€16,704 | -29.3% |
| Deferred charges and accrued income | 490/1 | €320 | €774 | +€454 | +142% |
| Total equity and liabilities | 10/49 | €416,751 | €454,878 | +€38,127 | +9.1% |
| Equity | 10/15 | €198,561 | €200,000 | +€1,439 | +0.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €179,961 | €181,400 | +€1,439 | +0.8% |
| Distributable reserves | 133 | €179,961 | €181,400 | +€1,439 | +0.8% |
| Amounts payable | 17/49 | €218,190 | €254,878 | +€36,688 | +16.8% |
| Amounts payable within one year | 42/48 | €215,086 | €250,580 | +€35,494 | +16.5% |
| Trade debts | 44 | €3,938 | €5,808 | +€1,871 | +47.5% |
| Suppliers | 440/4 | €3,938 | €5,808 | +€1,871 | +47.5% |
| Taxes, remuneration and social security | 45 | €1,348 | €8,158 | +€6,810 | +505% |
| Taxes | 450/3 | €1,348 | €8,158 | +€6,810 | +505% |
| Other amounts payable | 47/48 | €209,800 | €236,613 | +€26,813 | +12.8% |
| Accrued charges and deferred income | 492/3 | €3,104 | €4,298 | +€1,195 | +38.5% |
| Other operating charges | 640/8 | €4,601 | €2,552 | -€2,049 | -44.5% |
| Gross operating margin | 9900 | €100,815 | €73,759 | -€27,056 | -26.8% |
| Operating profit (loss) | 9901 | €96,214 | €71,207 | -€25,007 | -26.0% |
| Financial income | 75/76B | €43,554 | €84,426 | +€40,872 | +93.8% |
| Recurring financial income | 75 | €43,554 | €84,426 | +€40,872 | +93.8% |
| Financial charges | 65/66B | €73,413 | €33,922 | -€39,490 | -53.8% |
| Recurring financial charges | 65 | €73,413 | €33,922 | -€39,490 | -53.8% |
| Profit (loss) for the period before taxes | 9903 | €66,355 | €121,710 | +€55,355 | +83.4% |
| Income taxes | 67/77 | €33,348 | €31,158 | -€2,190 | -6.6% |
| Profit (loss) for the period | 9904 | €33,007 | €90,552 | +€57,545 | +174% |
| Profit (loss) for the period to be appropriated | 9905 | €33,007 | €90,552 | +€57,545 | +174% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.