DE PELIKAAN: 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.
DE PELIKAAN
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Cash -€39,848
down €39,848 (-53.0%), from €75,143 to €35,294
mainly Current investments (-€50,000) and Investment in fixed assets (net) (-€13,096)
- Tangible fixed assets +€2,947
up €2,947 (+11.7%), from €25,179 to €28,126
of which Furniture and vehicles: +€3,862
- Deferred charges and accrued income +€2,021
up €2,021 (+122%), from €1,650 to €3,670
- Reserves +€10,210
up €10,210 (+25.3%), from €40,359 to €50,570
of which Distributable reserves: +€10,210
- Tax, wage and social debts +€4,886
up €4,886 (+105%), from €4,636 to €9,522
of which Taxes: +€4,102
- Gross operating margin +€9,008
up €9,008 (+31.1%), from €29,008 to €38,015
- Other operating charges -€3,067
down €3,067 (-80.9%), from €3,792 to €725
- Taxes +€1,265
up €1,265 (+35.9%), from €3,525 to €4,790
- Staff costs +€461
up €461 (+4.0%), from €11,629 to €12,090
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 | €106,749 | €122,354 | +€15,605 | +14.6% |
| Fixed assets | 21/28 | €25,179 | €28,126 | +€2,947 | +11.7% |
| Tangible fixed assets | 22/27 | €25,179 | €28,126 | +€2,947 | +11.7% |
| Plant, machinery and equipment | 23 | €1,196 | €627 | -€569 | -47.6% |
| Furniture and vehicles | 24 | €23,293 | €27,155 | +€3,862 | +16.6% |
| Other tangible fixed assets | 26 | €689 | €344 | -€346 | -50.2% |
| Current assets | 29/58 | €81,570 | €94,228 | +€12,657 | +15.5% |
| Stocks and contracts in progress | 3 | €4,303 | €4,191 | -€111 | -2.6% |
| Stocks | 30/36 | €4,303 | €4,191 | -€111 | -2.6% |
| Amounts receivable within one year | 40/41 | €475 | €1,072 | +€597 | +126% |
| Other amounts receivable | 41 | €475 | €1,072 | +€597 | +126% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €75,143 | €35,294 | -€39,848 | -53.0% |
| Deferred charges and accrued income | 490/1 | €1,650 | €3,670 | +€2,021 | +122% |
| Total equity and liabilities | 10/49 | €106,749 | €122,354 | +€15,605 | +14.6% |
| Equity | 10/15 | €100,359 | €110,570 | +€10,210 | +10.2% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €40,359 | €50,570 | +€10,210 | +25.3% |
| Non-distributable reserves | 130/1 | €6,000 | €6,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €34,359 | €44,570 | +€10,210 | +29.7% |
| Amounts payable | 17/49 | €6,390 | €11,784 | +€5,394 | +84.4% |
| Amounts payable within one year | 42/48 | €6,390 | €11,784 | +€5,394 | +84.4% |
| Trade debts | 44 | €1,753 | €2,262 | +€508 | +29.0% |
| Suppliers | 440/4 | €1,753 | €2,262 | +€508 | +29.0% |
| Taxes, remuneration and social security | 45 | €4,636 | €9,522 | +€4,886 | +105% |
| Taxes | 450/3 | €4,207 | €8,309 | +€4,102 | +97.5% |
| Remuneration and social security | 454/9 | €429 | €1,213 | +€784 | +183% |
| Remuneration, social security and pensions | 62 | €11,629 | €12,090 | +€461 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,183 | €10,149 | -€34 | -0.3% |
| Other operating charges | 640/8 | €3,792 | €725 | -€3,067 | -80.9% |
| Gross operating margin | 9900 | €29,008 | €38,015 | +€9,008 | +31.1% |
| Operating profit (loss) | 9901 | €3,405 | €15,052 | +€11,647 | +342% |
| Financial income | 75/76B | €31 | €33 | +€2 | +5.8% |
| Recurring financial income | 75 | €31 | €33 | +€2 | +5.8% |
| Financial charges | 65/66B | €88 | €85 | -€3 | -3.4% |
| Recurring financial charges | 65 | €88 | €85 | -€3 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €3,348 | €15,000 | +€11,652 | +348% |
| Income taxes | 67/77 | €3,525 | €4,790 | +€1,265 | +35.9% |
| Profit (loss) for the period | 9904 | -€177 | €10,210 | +€10,387 | |
| Profit (loss) for the period to be appropriated | 9905 | -€177 | €10,210 | +€10,387 |
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 1 November 2026 via checked.be.