RED PINGUÏN: 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.
RED PINGUÏN
Largest movements
- Cash +€4,654
up €4,654 (+9.4%), from €49,488 to €54,142
mainly Net result for the year (+€66,420) and Other debts (+€5,454)
- Tangible fixed assets +€3,022
up €3,022 (+321%), from €942 to €3,964
- Other debts +€5,454
up €5,454 (+10.0%), from €54,358 to €59,812
- Tax, wage and social debts +€4,070
up €4,070 (+43.2%), from €9,420 to €13,490
- Trade debts -€1,035
down €1,035 (-79.9%), from €1,295 to €260
- Gross operating margin +€16,435
up €16,435 (+23.6%), from €69,546 to €85,981
- Taxes +€3,138
up €3,138 (+21.3%), from €14,729 to €17,868
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 | €66,173 | €74,662 | +€8,489 | +12.8% |
| Fixed assets | 21/28 | €942 | €3,964 | +€3,022 | +321% |
| Tangible fixed assets | 22/27 | €942 | €3,964 | +€3,022 | +321% |
| Furniture and vehicles | 24 | €942 | €3,964 | +€3,022 | +321% |
| Current assets | 29/58 | €65,231 | €70,697 | +€5,467 | +8.4% |
| Amounts receivable within one year | 40/41 | €15,306 | €15,983 | +€677 | +4.4% |
| Trade receivables | 40 | €15,035 | €15,983 | +€948 | +6.3% |
| Other amounts receivable | 41 | €271 | €0 | -€271 | -100% |
| Cash at bank and in hand | 54/58 | €49,488 | €54,142 | +€4,654 | +9.4% |
| Deferred charges and accrued income | 490/1 | €437 | €572 | +€135 | +31.0% |
| Total equity and liabilities | 10/49 | €66,173 | €74,662 | +€8,489 | +12.8% |
| Equity | 10/15 | €1,000 | €1,000 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €65,173 | €73,662 | +€8,489 | +13.0% |
| Amounts payable within one year | 42/48 | €65,073 | €73,562 | +€8,489 | +13.0% |
| Trade debts | 44 | €1,295 | €260 | -€1,035 | -79.9% |
| Suppliers | 440/4 | €1,295 | €260 | -€1,035 | -79.9% |
| Taxes, remuneration and social security | 45 | €9,420 | €13,490 | +€4,070 | +43.2% |
| Taxes | 450/3 | €9,420 | €13,490 | +€4,070 | +43.2% |
| Other amounts payable | 47/48 | €54,358 | €59,812 | +€5,454 | +10.0% |
| Accrued charges and deferred income | 492/3 | €100 | €100 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €344 | €470 | +€126 | +36.5% |
| Other operating charges | 640/8 | €862 | €1,170 | +€308 | +35.8% |
| Gross operating margin | 9900 | €69,546 | €85,981 | +€16,435 | +23.6% |
| Operating profit (loss) | 9901 | €68,340 | €84,341 | +€16,001 | +23.4% |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €52 | €54 | +€2 | +3.0% |
| Recurring financial charges | 65 | €52 | €54 | +€2 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | €68,287 | €84,288 | +€16,000 | +23.4% |
| Income taxes | 67/77 | €14,729 | €17,868 | +€3,138 | +21.3% |
| Profit (loss) for the period | 9904 | €53,558 | €66,420 | +€12,862 | +24.0% |
| Profit (loss) for the period to be appropriated | 9905 | €53,558 | €66,420 | +€12,862 | +24.0% |
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 27 October 2026 via checked.be.