What consumes less memory an actual image or a drawn image?

I am designing an app and I am creating some images with PaintCode.

Using that program I get the actual code for each image that I create, thus allowing me to choose to insert code or use an actual image. I was wondering what would consume less memory, the image code or an actual PNG?

I know an image memory consumption is width x height x 4 = bytes in memory but I have no idea whether an image that is generated by code is more memory efficient, less memory efficient or breaks even?

This decision is particularly important given the different screen resolutions. its a lot easier to create an image in code and expand it to whatever size I want rather than go to Photoshop every time.