DE PEPERKOEK: 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 PEPERKOEK
Largest movements
- Tangible fixed assets -€12,965
down €12,965 (-4.3%), from €304,257 to €291,292
- Receivables after one year -€5,900
down €5,900 (-23.0%), from €25,650 to €19,750
- Debts after one year -€14,397
down €14,397 (-6.4%), from €224,020 to €209,623
of which Financial debts: -€14,397
- Reserves -€6,748
down €6,748 (-7.6%), from €89,337 to €82,589
- Gross operating margin -€6,116
down €6,116 (-29.8%), from €20,552 to €14,436
- Taxes +€519
up €519, from -€519 to €0
- Financial charges -€338
down €338 (-7.6%), from €4,430 to €4,092
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 | €333,555 | €313,810 | -€19,745 | -5.9% |
| Fixed assets | 21/28 | €304,257 | €291,292 | -€12,965 | -4.3% |
| Tangible fixed assets | 22/27 | €304,257 | €291,292 | -€12,965 | -4.3% |
| Land and buildings | 22 | €304,257 | €291,292 | -€12,965 | -4.3% |
| Current assets | 29/58 | €29,298 | €22,518 | -€6,780 | -23.1% |
| Amounts receivable after more than one year | 29 | €25,650 | €19,750 | -€5,900 | -23.0% |
| Other amounts receivable | 291 | €25,650 | €19,750 | -€5,900 | -23.0% |
| Current investments | 50/53 | €250 | €250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,505 | €606 | -€1,899 | -75.8% |
| Deferred charges and accrued income | 490/1 | €893 | €1,912 | +€1,019 | +114.1% |
| Total equity and liabilities | 10/49 | €333,555 | €313,810 | -€19,745 | -5.9% |
| Equity | 10/15 | €89,437 | €82,689 | -€6,748 | -7.5% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €89,337 | €82,589 | -€6,748 | -7.6% |
| Distributable reserves | 133 | €89,337 | €82,589 | -€6,748 | -7.6% |
| Amounts payable | 17/49 | €244,118 | €231,120 | -€12,997 | -5.3% |
| Amounts payable after more than one year | 17 | €224,020 | €209,623 | -€14,397 | -6.4% |
| Financial debts | 170/4 | €222,585 | €208,188 | -€14,397 | -6.5% |
| Other amounts payable | 178/9 | €1,435 | €1,435 | = | 0.0% |
| Amounts payable within one year | 42/48 | €20,098 | €21,497 | +€1,400 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €14,155 | €14,397 | +€243 | +1.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | - | €507 | +€507 | |
| Suppliers | 440/4 | - | €507 | +€507 | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €5,943 | €6,593 | +€650 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,965 | €12,965 | +€0 | 0.0% |
| Other operating charges | 640/8 | €3,992 | €4,127 | +€134 | +3.4% |
| Gross operating margin | 9900 | €20,552 | €14,436 | -€6,116 | -29.8% |
| Operating profit (loss) | 9901 | €3,595 | -€2,656 | -€6,250 | |
| Financial income | 75/76B | €7 | €0 | -€7 | -100.0% |
| Recurring financial income | 75 | €7 | €0 | -€7 | -100.0% |
| Financial charges | 65/66B | €4,430 | €4,092 | -€338 | -7.6% |
| Recurring financial charges | 65 | €4,430 | €4,092 | -€338 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | -€828 | -€6,748 | -€5,920 | -714.8% |
| Income taxes | 67/77 | -€519 | €0 | +€519 | |
| Profit (loss) for the period | 9904 | -€309 | -€6,748 | -€6,438 | -2080.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€309 | -€6,748 | -€6,438 | -2080.8% |
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 12 October 2026 via checked.be.