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
- Tangible fixed assets -€8,470
down €8,470 (-28.5%), from €29,759 to €21,289
- Receivables within one year +€2,421
up €2,421 (+13.5%), from €17,923 to €20,344
of which Trade receivables: +€2,293
- Trade debts +€30,785
up €30,785 (+298%), from €10,322 to €41,107
- Profit (loss) carried forward -€26,611
down €26,611, from €8,712 to -€17,898
- Debts after one year -€8,804
down €8,804 (-41.6%), from €21,158 to €12,353
- Tax, wage and social debts -€6,895
down €6,895 (-20.2%), from €34,092 to €27,198
of which Taxes: -€4,226
- Other debts +€4,834
up €4,834 (+62.3%), from €7,762 to €12,597
- Staff costs +€25,498
up €25,498 (+23.0%), from €110,994 to €136,493
- Gross operating margin +€3,184
up €3,184 (+2.7%), from €118,716 to €121,901
- Depreciation +€2,862
up €2,862 (+44.1%), from €6,496 to €9,358
- Other operating charges -€1,381
down €1,381 (-61.6%), from €2,241 to €860
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 | €161,250 | €154,859 | -€6,391 | -4.0% |
| Fixed assets | 21/28 | €37,479 | €28,146 | -€9,333 | -24.9% |
| Intangible fixed assets | 21 | €3,893 | €3,005 | -€888 | -22.8% |
| Tangible fixed assets | 22/27 | €29,759 | €21,289 | -€8,470 | -28.5% |
| Plant, machinery and equipment | 23 | €14,714 | €11,437 | -€3,278 | -22.3% |
| Furniture and vehicles | 24 | €7,248 | €4,886 | -€2,361 | -32.6% |
| Other tangible fixed assets | 26 | €7,797 | €4,966 | -€2,831 | -36.3% |
| Financial fixed assets | 28 | €3,828 | €3,852 | +€25 | +0.6% |
| Current assets | 29/58 | €123,771 | €126,713 | +€2,942 | +2.4% |
| Stocks and contracts in progress | 3 | €8,500 | €8,500 | = | 0.0% |
| Stocks | 30/36 | €8,500 | €8,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €17,923 | €20,344 | +€2,421 | +13.5% |
| Trade receivables | 40 | €8,746 | €11,039 | +€2,293 | +26.2% |
| Other amounts receivable | 41 | €9,177 | €9,305 | +€128 | +1.4% |
| Current investments | 50/53 | €41,190 | €41,373 | +€184 | +0.4% |
| Cash at bank and in hand | 54/58 | €54,566 | €54,909 | +€344 | +0.6% |
| Deferred charges and accrued income | 490/1 | €1,593 | €1,587 | -€6 | -0.4% |
| Total equity and liabilities | 10/49 | €161,250 | €154,859 | -€6,391 | -4.0% |
| Equity | 10/15 | €79,025 | €52,414 | -€26,611 | -33.7% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €64,013 | €64,013 | = | 0.0% |
| Distributable reserves | 133 | €64,013 | €64,013 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,712 | -€17,898 | -€26,611 | |
| Amounts payable | 17/49 | €82,225 | €102,445 | +€20,220 | +24.6% |
| Amounts payable after more than one year | 17 | €21,158 | €12,353 | -€8,804 | -41.6% |
| Financial debts | 170/4 | €21,158 | €12,353 | -€8,804 | -41.6% |
| Amounts payable within one year | 42/48 | €60,605 | €89,706 | +€29,101 | +48.0% |
| Current portion of amounts payable after more than one year | 42 | €8,428 | €8,804 | +€376 | +4.5% |
| Trade debts | 44 | €10,322 | €41,107 | +€30,785 | +298% |
| Suppliers | 440/4 | €10,322 | €41,107 | +€30,785 | +298% |
| Taxes, remuneration and social security | 45 | €34,092 | €27,198 | -€6,895 | -20.2% |
| Taxes | 450/3 | €13,066 | €8,840 | -€4,226 | -32.3% |
| Remuneration and social security | 454/9 | €21,027 | €18,358 | -€2,668 | -12.7% |
| Other amounts payable | 47/48 | €7,762 | €12,597 | +€4,834 | +62.3% |
| Accrued charges and deferred income | 492/3 | €463 | €386 | -€77 | -16.6% |
| Remuneration, social security and pensions | 62 | €110,994 | €136,493 | +€25,498 | +23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,496 | €9,358 | +€2,862 | +44.1% |
| Other operating charges | 640/8 | €2,241 | €860 | -€1,381 | -61.6% |
| Non-recurring operating charges | 66A | €406 | €362 | -€44 | -10.8% |
| Gross operating margin | 9900 | €118,716 | €121,901 | +€3,184 | +2.7% |
| Operating profit (loss) | 9901 | -€1,420 | -€25,172 | -€23,751 | -1,672% |
| Financial income | 75/76B | €552 | €695 | +€144 | +26.0% |
| Recurring financial income | 75 | €552 | €695 | +€144 | +26.0% |
| Financial charges | 65/66B | €1,291 | €2,135 | +€843 | +65.3% |
| Recurring financial charges | 65 | €1,291 | €2,135 | +€843 | +65.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,160 | -€26,611 | -€24,451 | -1,132% |
| Profit (loss) for the period | 9904 | -€2,160 | -€26,611 | -€24,451 | -1,132% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,160 | -€26,611 | -€24,451 | -1,132% |
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 22 October 2026 via checked.be.