DON PEPPE: 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.
DON PEPPE
Largest movements
- Cash +€73,642
up €73,642 (+60.0%), from €122,799 to €196,441
mainly Net result for the year (+€97,957) and Depreciation (+€61,686)
- Receivables within one year +€21,005
up €21,005 (+15.6%), from €134,755 to €155,761
of which Other amounts receivable: +€19,631
- Tangible fixed assets -€16,969
down €16,969 (-7.8%), from €218,003 to €201,034
of which Land and buildings: -€21,279
- Reserves +€97,957
up €97,957 (+106%), from €92,062 to €190,019
of which Distributable reserves: +€97,957
- Debts after one year -€49,983
down €49,983 (-31.1%), from €160,920 to €110,938
- Tax, wage and social debts +€38,287
up €38,287 (+62.9%), from €60,828 to €99,115
of which Taxes: +€24,776
- Provisions -€17,182
down €17,182 (-44.9%), from €38,247 to €21,066
- Other debts -€10,000
no longer reported in 2025 (was €10,000)
- Staff costs -€31,798
down €31,798 (-13.7%), from €232,227 to €200,428
- Taxes +€25,721
up €25,721 (+101%), from €25,517 to €51,238
- Gross operating margin +€24,803
up €24,803 (+6.1%), from €409,460 to €434,263
- Depreciation -€10,208
down €10,208 (-14.2%), from €71,894 to €61,686
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 | €487,434 | €560,961 | +€73,527 | +15.1% |
| Fixed assets | 21/28 | €222,478 | €201,309 | -€21,169 | -9.5% |
| Tangible fixed assets | 22/27 | €218,003 | €201,034 | -€16,969 | -7.8% |
| Land and buildings | 22 | €106,504 | €85,225 | -€21,279 | -20.0% |
| Plant, machinery and equipment | 23 | €23,920 | €48,261 | +€24,341 | +102% |
| Furniture and vehicles | 24 | €77,985 | €67,249 | -€10,736 | -13.8% |
| Other tangible fixed assets | 26 | €9,594 | €299 | -€9,295 | -96.9% |
| Financial fixed assets | 28 | €4,475 | €275 | -€4,200 | -93.9% |
| Current assets | 29/58 | €264,956 | €359,653 | +€94,696 | +35.7% |
| Stocks and contracts in progress | 3 | €7,000 | €7,000 | = | 0.0% |
| Stocks | 30/36 | €7,000 | €7,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €134,755 | €155,761 | +€21,005 | +15.6% |
| Trade receivables | 40 | €38,969 | €40,343 | +€1,374 | +3.5% |
| Other amounts receivable | 41 | €95,787 | €115,418 | +€19,631 | +20.5% |
| Current investments | 50/53 | €402 | €451 | +€49 | +12.2% |
| Cash at bank and in hand | 54/58 | €122,799 | €196,441 | +€73,642 | +60.0% |
| Total equity and liabilities | 10/49 | €487,434 | €560,961 | +€73,527 | +15.1% |
| Equity | 10/15 | €162,088 | €260,045 | +€97,957 | +60.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €92,062 | €190,019 | +€97,957 | +106% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €90,062 | €188,019 | +€97,957 | +109% |
| Profit (loss) carried forward | 14 | €50,026 | €50,026 | = | 0.0% |
| Provisions and deferred taxes | 16 | €38,247 | €21,066 | -€17,182 | -44.9% |
| Provisions for liabilities and charges | 160/5 | €38,247 | €21,066 | -€17,182 | -44.9% |
| Pensions and similar obligations | 160 | €17,102 | €17,102 | = | 0.0% |
| Other liabilities and charges | 164/5 | €21,146 | €3,964 | -€17,182 | -81.3% |
| Amounts payable | 17/49 | €287,098 | €279,850 | -€7,248 | -2.5% |
| Amounts payable after more than one year | 17 | €160,920 | €110,938 | -€49,983 | -31.1% |
| Financial debts | 170/4 | €160,920 | €110,938 | -€49,983 | -31.1% |
| Amounts payable within one year | 42/48 | €126,178 | €168,913 | +€42,735 | +33.9% |
| Current portion of amounts payable after more than one year | 42 | €27,568 | €34,582 | +€7,015 | +25.4% |
| Trade debts | 44 | €27,782 | €35,215 | +€7,433 | +26.8% |
| Suppliers | 440/4 | €27,782 | €35,215 | +€7,433 | +26.8% |
| Taxes, remuneration and social security | 45 | €60,828 | €99,115 | +€38,287 | +62.9% |
| Taxes | 450/3 | €35,929 | €60,705 | +€24,776 | +69.0% |
| Remuneration and social security | 454/9 | €24,899 | €38,410 | +€13,511 | +54.3% |
| Other amounts payable | 47/48 | €10,000 | - | -€10,000 | |
| Remuneration, social security and pensions | 62 | €232,227 | €200,428 | -€31,798 | -13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,894 | €61,686 | -€10,208 | -14.2% |
| Other operating charges | 640/8 | €8,718 | €10,901 | +€2,183 | +25.0% |
| Gross operating margin | 9900 | €409,460 | €434,263 | +€24,803 | +6.1% |
| Operating profit (loss) | 9901 | €96,621 | €161,248 | +€64,627 | +66.9% |
| Financial income | 75/76B | €98 | €205 | +€107 | +110% |
| Recurring financial income | 75 | €98 | €205 | +€107 | +110% |
| Financial charges | 65/66B | €13,378 | €12,258 | -€1,120 | -8.4% |
| Recurring financial charges | 65 | €13,378 | €12,258 | -€1,120 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €83,342 | €149,195 | +€65,854 | +79.0% |
| Income taxes | 67/77 | €25,517 | €51,238 | +€25,721 | +101% |
| Profit (loss) for the period | 9904 | €57,824 | €97,957 | +€40,133 | +69.4% |
| Profit (loss) for the period to be appropriated | 9905 | €57,824 | €97,957 | +€40,133 | +69.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.