DE PELGRIM: what changed
Two fiscal 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.
DE PELGRIM
Largest movements
- Stocks and contracts +€146,744
up €146,744 (+501.5%), from €29,261 to €176,005
- Receivables within one year +€128,033
up €128,033 (+71.8%), from €178,259 to €306,292
- Tangible fixed assets -€72,292
down €72,292 (-5.3%), from €1.4m to €1.3m
of which Land and buildings: -€44,342
- Cash -€23,401
down €23,401 (-63.1%), from €37,093 to €13,693
mainly Stocks and contracts (-€146,744) and Receivables within one year (-€128,033)
- Debts after one year +€178,756
up €178,756 (+18.5%), from €967,369 to €1.1m
- Tax, wage and social debts -€41,142
down €41,142 (-20.6%), from €200,140 to €158,998
of which Taxes: -€28,900
- Trade debts +€26,055
up €26,055 (+182.8%), from €14,256 to €40,312
- Gross operating margin -€302,743
down €302,743 (-50.9%), from €594,907 to €292,163
- Taxes -€88,721
down €88,721 (-83.3%), from €106,531 to €17,810
- Other operating charges -€60,357
down €60,357 (-91.5%), from €65,973 to €5,616
- Depreciation +€16,189
up €16,189 (+19.9%), from €81,203 to €97,392
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,604,874 | €1,783,254 | +€178,380 | +11.1% |
| Fixed assets | 21/28 | €1,353,946 | €1,280,973 | -€72,973 | -5.4% |
| Tangible fixed assets | 22/27 | €1,353,265 | €1,280,973 | -€72,292 | -5.3% |
| Land and buildings | 22 | €1,245,308 | €1,200,966 | -€44,342 | -3.6% |
| Plant, machinery and equipment | 23 | €42,394 | €34,632 | -€7,762 | -18.3% |
| Furniture and vehicles | 24 | €55,986 | €38,628 | -€17,357 | -31.0% |
| Other tangible fixed assets | 26 | €9,578 | €6,746 | -€2,831 | -29.6% |
| Financial fixed assets | 28 | €681 | - | -€681 | |
| Current assets | 29/58 | €250,928 | €502,282 | +€251,353 | +100.2% |
| Stocks and contracts in progress | 3 | €29,261 | €176,005 | +€146,744 | +501.5% |
| Stocks | 30/36 | €29,261 | €176,005 | +€146,744 | +501.5% |
| Amounts receivable within one year | 40/41 | €178,259 | €306,292 | +€128,033 | +71.8% |
| Other amounts receivable | 41 | €178,259 | €306,292 | +€128,033 | +71.8% |
| Cash at bank and in hand | 54/58 | €37,093 | €13,693 | -€23,401 | -63.1% |
| Deferred charges and accrued income | 490/1 | €6,316 | €6,292 | -€23 | -0.4% |
| Total equity and liabilities | 10/49 | €1,604,874 | €1,783,254 | +€178,380 | +11.1% |
| Equity | 10/15 | €353,847 | €355,127 | +€1,281 | +0.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €335,255 | €336,535 | +€1,281 | +0.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €333,395 | €334,676 | +€1,281 | +0.4% |
| Amounts payable | 17/49 | €1,251,028 | €1,428,127 | +€177,099 | +14.2% |
| Amounts payable after more than one year | 17 | €967,369 | €1,146,125 | +€178,756 | +18.5% |
| Financial debts | 170/4 | €967,369 | €1,146,125 | +€178,756 | +18.5% |
| Amounts payable within one year | 42/48 | €283,658 | €282,002 | -€1,656 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €69,262 | €72,544 | +€3,281 | +4.7% |
| Financial debts | 43 | - | €10,149 | +€10,149 | |
| Credit institutions | 430/8 | - | €10,149 | +€10,149 | |
| Trade debts | 44 | €14,256 | €40,312 | +€26,055 | +182.8% |
| Suppliers | 440/4 | €14,256 | €40,312 | +€26,055 | +182.8% |
| Taxes, remuneration and social security | 45 | €200,140 | €158,998 | -€41,142 | -20.6% |
| Taxes | 450/3 | €175,580 | €146,680 | -€28,900 | -16.5% |
| Remuneration and social security | 454/9 | €24,559 | €12,317 | -€12,242 | -49.8% |
| Remuneration, social security and pensions | 62 | €134,311 | €132,151 | -€2,159 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,203 | €97,392 | +€16,189 | +19.9% |
| Other operating charges | 640/8 | €65,973 | €5,616 | -€60,357 | -91.5% |
| Non-recurring operating charges | 66A | - | €823 | +€823 | |
| Gross operating margin | 9900 | €594,907 | €292,163 | -€302,743 | -50.9% |
| Operating profit (loss) | 9901 | €313,420 | €56,180 | -€257,239 | -82.1% |
| Financial income | 75/76B | €11,061 | €12,884 | +€1,823 | +16.5% |
| Recurring financial income | 75 | €11,061 | €12,884 | +€1,823 | +16.5% |
| Financial charges | 65/66B | €54,513 | €49,973 | -€4,539 | -8.3% |
| Recurring financial charges | 65 | €54,513 | €49,973 | -€4,539 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €269,968 | €19,091 | -€250,877 | -92.9% |
| Income taxes | 67/77 | €106,531 | €17,810 | -€88,721 | -83.3% |
| Profit (loss) for the period | 9904 | €163,437 | €1,281 | -€162,156 | -99.2% |
| Profit (loss) for the period to be appropriated | 9905 | €163,437 | €1,281 | -€162,156 | -99.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.