PNEU EXPRESS: 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.
What changed
PNEU EXPRESS
NACE 47.820, Retail sale of motor vehicle parts and accessories
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€419,598
2024 · €432,353-€12,755
Equity
€691,761
2024 · €676,085+€15,676
Cash
€534,122
2024 · €432,596+€101,526
Balance sheet total
€2.5m
2024 · €2.5m+€17,344
Largest movements
Assets
- Cash +€101,526
up €101,526 (+23.5%), from €432,596 to €534,122
mainly Net result for the year (+€419,598) and Other debts (+€176,158)
- Receivables within one year -€69,936
down €69,936 (-11.6%), from €604,798 to €534,862
of which Trade receivables: -€74,847
- Stocks and contracts -€33,784
down €33,784 (-19.1%), from €177,114 to €143,329
Equity and liabilities
- Other debts +€176,158
up €176,158 (+25.4%), from €692,881 to €869,039
- Debts after one year -€103,783
down €103,783 (-21.6%), from €481,009 to €377,226
- Current portion of long-term debt -€36,466
down €36,466 (-26.0%), from €140,249 to €103,783
Income statement
- Gross operating margin +€51,157
up €51,157 (+4.5%), from €1.1m to €1.2m
- Staff costs +€35,465
up €35,465 (+8.3%), from €429,240 to €464,706
- Depreciation +€21,192
up €21,192 (+20.1%), from €105,336 to €126,528
- Financial charges +€13,582
up €13,582 (+52.5%), from €25,869 to €39,451
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.
Result 2024
€432,353
Gross operating margin
+€51,157
Staff costs
-€35,465
Depreciation
-€21,192
Other operating charges
+€926
Financial income
+€488
Financial charges
-€13,582
Taxes
+€4,913
Result 2025
€419,598
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.
From operations
+€788,491
Investment
-€142,794
Financing
-€544,171
Cash 2024
€432,596
From operations (derived)
+€788,491
Net result for the year
+€419,598
Depreciation
+€126,528
Stocks and contracts
+€33,784
Receivables within one year
+€69,936
Deferred charges and accrued income
-€3,272
Provisions
-€2,019
Trade debts
-€19,857
Tax, wage and social debts
-€12,364
Other debts
+€176,158
Investment (derived)
-€142,794
Investment in fixed assets (net)
-€142,794
Financing
-€544,171
Debts after one year
-€103,783
Current portion of long-term debt
-€36,466
Contributions, distributions and other
-€403,922
Cash 2025
€534,122
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,527,731 | €2,545,075 | +€17,344 | +0.7% |
| Fixed assets | 21/28 | €1,214,016 | €1,230,282 | +€16,266 | +1.3% |
| Tangible fixed assets | 22/27 | €1,210,016 | €1,226,282 | +€16,266 | +1.3% |
| Land and buildings | 22 | €924,397 | €874,240 | -€50,158 | -5.4% |
| Plant, machinery and equipment | 23 | €250,883 | €282,246 | +€31,363 | +12.5% |
| Furniture and vehicles | 24 | €34,735 | €69,797 | +€35,061 | +100.9% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €1,313,715 | €1,314,793 | +€1,078 | +0.1% |
| Stocks and contracts in progress | 3 | €177,114 | €143,329 | -€33,784 | -19.1% |
| Stocks | 30/36 | €177,114 | €143,329 | -€33,784 | -19.1% |
| Amounts receivable within one year | 40/41 | €604,798 | €534,862 | -€69,936 | -11.6% |
| Trade receivables | 40 | €554,908 | €480,060 | -€74,847 | -13.5% |
| Other amounts receivable | 41 | €49,890 | €54,801 | +€4,911 | +9.8% |
| Current investments | 50/53 | €96,000 | €96,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €432,596 | €534,122 | +€101,526 | +23.5% |
| Deferred charges and accrued income | 490/1 | €3,207 | €6,479 | +€3,272 | +102.0% |
| Total equity and liabilities | 10/49 | €2,527,731 | €2,545,075 | +€17,344 | +0.7% |
| Equity | 10/15 | €676,085 | €691,761 | +€15,676 | +2.3% |
| Contributions | 10/11 | €105,000 | €105,000 | = | 0.0% |
| Capital | 10 | €105,000 | €105,000 | = | 0.0% |
| Issued capital | 100 | €105,000 | €105,000 | = | 0.0% |
| Reserves | 13 | €108,642 | €108,642 | = | 0.0% |
| Non-distributable reserves | 130/1 | €106,500 | €106,500 | = | 0.0% |
| Legal reserve | 130 | €10,500 | €10,500 | = | 0.0% |
| Own shares acquired | 1312 | €96,000 | €96,000 | = | 0.0% |
| Distributable reserves | 133 | €2,142 | €2,142 | = | 0.0% |
| Profit (loss) carried forward | 14 | €401,655 | €421,253 | +€19,598 | +4.9% |
| Investment grants | 15 | €60,788 | €56,866 | -€3,922 | -6.5% |
| Provisions and deferred taxes | 16 | €31,301 | €29,281 | -€2,019 | -6.5% |
| Deferred taxes | 168 | €31,301 | €29,281 | -€2,019 | -6.5% |
| Amounts payable | 17/49 | €1,820,345 | €1,824,033 | +€3,688 | +0.2% |
| Amounts payable after more than one year | 17 | €481,009 | €377,226 | -€103,783 | -21.6% |
| Financial debts | 170/4 | €481,009 | €377,226 | -€103,783 | -21.6% |
| Amounts payable within one year | 42/48 | €1,339,336 | €1,446,807 | +€107,471 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €140,249 | €103,783 | -€36,466 | -26.0% |
| Trade debts | 44 | €365,295 | €345,437 | -€19,857 | -5.4% |
| Suppliers | 440/4 | €365,295 | €345,437 | -€19,857 | -5.4% |
| Taxes, remuneration and social security | 45 | €140,911 | €128,548 | -€12,364 | -8.8% |
| Taxes | 450/3 | €107,432 | €96,885 | -€10,547 | -9.8% |
| Remuneration and social security | 454/9 | €33,479 | €31,662 | -€1,816 | -5.4% |
| Other amounts payable | 47/48 | €692,881 | €869,039 | +€176,158 | +25.4% |
| Remuneration, social security and pensions | 62 | €429,240 | €464,706 | +€35,465 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,336 | €126,528 | +€21,192 | +20.1% |
| Other operating charges | 640/8 | €2,801 | €1,875 | -€926 | -33.1% |
| Gross operating margin | 9900 | €1,139,120 | €1,190,277 | +€51,157 | +4.5% |
| Operating profit (loss) | 9901 | €601,742 | €597,168 | -€4,574 | -0.8% |
| Financial income | 75/76B | €4,570 | €5,058 | +€488 | +10.7% |
| Recurring financial income | 75 | €4,570 | €5,058 | +€488 | +10.7% |
| Financial charges | 65/66B | €25,869 | €39,451 | +€13,582 | +52.5% |
| Recurring financial charges | 65 | €25,869 | €39,451 | +€13,582 | +52.5% |
| Profit (loss) for the period before taxes | 9903 | €580,443 | €562,775 | -€17,668 | -3.0% |
| Transfer from deferred taxes | 780 | €2,019 | €2,019 | = | 0.0% |
| Income taxes | 67/77 | €150,109 | €145,196 | -€4,913 | -3.3% |
| Profit (loss) for the period | 9904 | €432,353 | €419,598 | -€12,755 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €432,353 | €419,598 | -€12,755 | -3.0% |
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.