DON PEPPINO: 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 PEPPINO
Largest movements
- Cash -€40,445
down €40,445 (-70.3%), from €57,565 to €17,120
mainly Deferred charges and accrued income (-€37,828) and Investment in fixed assets (net) (-€33,074)
- Deferred charges and accrued income +€37,828
up €37,828 (+567%), from €6,676 to €44,503
- Tangible fixed assets +€23,548
up €23,548 (+673%), from €3,499 to €27,047
of which Leasing and similar rights: +€27,047
- Stocks and contracts -€8,466
down €8,466 (-96.2%), from €8,801 to €335
- Receivables within one year +€5,556
up €5,556 (+38.4%), from €14,484 to €20,040
of which Other amounts receivable: +€5,315
- Profit (loss) carried forward -€32,943
down €32,943 (-100%), from €32,943 to €0
- Reserves +€27,248
up €27,248 (+126%), from €21,705 to €48,953
- Other debts +€23,227
new in 2025: €23,227
- Trade debts -€13,229
down €13,229 (-71.9%), from €18,392 to €5,163
- Current portion of long-term debt +€10,083
new in 2025: €10,083
- Gross operating margin +€51,546
up €51,546 (+121%), from €42,760 to €94,306
- Depreciation +€8,125
up €8,125 (+246%), from €3,297 to €11,422
- Taxes +€6,217
up €6,217 (+3,240%), from €192 to €6,409
- Staff costs -€1,953
down €1,953 (-5.2%), from €37,394 to €35,441
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 | €92,920 | €109,046 | +€16,126 | +17.4% |
| Fixed assets | 21/28 | €5,395 | €27,047 | +€21,652 | +401% |
| Intangible fixed assets | 21 | €1,896 | €0 | -€1,896 | -100% |
| Tangible fixed assets | 22/27 | €3,499 | €27,047 | +€23,548 | +673% |
| Plant, machinery and equipment | 23 | €3,344 | €0 | -€3,344 | -100% |
| Furniture and vehicles | 24 | €155 | €0 | -€155 | -100% |
| Leasing and similar rights | 25 | - | €27,047 | +€27,047 | |
| Current assets | 29/58 | €87,525 | €81,999 | -€5,526 | -6.3% |
| Stocks and contracts in progress | 3 | €8,801 | €335 | -€8,466 | -96.2% |
| Stocks | 30/36 | €8,801 | €335 | -€8,466 | -96.2% |
| Amounts receivable within one year | 40/41 | €14,484 | €20,040 | +€5,556 | +38.4% |
| Trade receivables | 40 | - | €241 | +€241 | |
| Other amounts receivable | 41 | €14,484 | €19,799 | +€5,315 | +36.7% |
| Cash at bank and in hand | 54/58 | €57,565 | €17,120 | -€40,445 | -70.3% |
| Deferred charges and accrued income | 490/1 | €6,676 | €44,503 | +€37,828 | +567% |
| Total equity and liabilities | 10/49 | €92,920 | €109,046 | +€16,126 | +17.4% |
| Equity | 10/15 | €61,148 | €55,453 | -€5,695 | -9.3% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €21,705 | €48,953 | +€27,248 | +126% |
| Distributable reserves | 133 | €21,705 | €48,953 | +€27,248 | +126% |
| Profit (loss) carried forward | 14 | €32,943 | €0 | -€32,943 | -100% |
| Amounts payable | 17/49 | €31,773 | €53,594 | +€21,821 | +68.7% |
| Amounts payable after more than one year | 17 | - | €6,081 | +€6,081 | |
| Financial debts | 170/4 | - | €6,081 | +€6,081 | |
| Amounts payable within one year | 42/48 | €31,773 | €47,512 | +€15,740 | +49.5% |
| Current portion of amounts payable after more than one year | 42 | - | €10,083 | +€10,083 | |
| Trade debts | 44 | €18,392 | €5,163 | -€13,229 | -71.9% |
| Suppliers | 440/4 | €18,392 | €5,163 | -€13,229 | -71.9% |
| Taxes, remuneration and social security | 45 | €13,380 | €9,039 | -€4,341 | -32.4% |
| Taxes | 450/3 | €7,385 | €9,039 | +€1,654 | +22.4% |
| Remuneration and social security | 454/9 | €5,996 | €0 | -€5,996 | -100% |
| Other amounts payable | 47/48 | - | €23,227 | +€23,227 | |
| Non-recurring operating income | 76A | - | €1,653 | +€1,653 | |
| Remuneration, social security and pensions | 62 | €37,394 | €35,441 | -€1,953 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,297 | €11,422 | +€8,125 | +246% |
| Other operating charges | 640/8 | €4,798 | €4,095 | -€703 | -14.7% |
| Non-recurring operating charges | 66A | - | €17,746 | +€17,746 | |
| Gross operating margin | 9900 | €42,760 | €94,306 | +€51,546 | +121% |
| Operating profit (loss) | 9901 | -€2,728 | €25,603 | +€28,331 | |
| Financial income | 75/76B | €556 | €77 | -€480 | -86.2% |
| Recurring financial income | 75 | €556 | €77 | -€480 | -86.2% |
| Financial charges | 65/66B | €1,973 | €1,738 | -€235 | -11.9% |
| Recurring financial charges | 65 | €1,973 | €1,738 | -€235 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,145 | €23,941 | +€28,087 | |
| Income taxes | 67/77 | €192 | €6,409 | +€6,217 | +3,240% |
| Profit (loss) for the period | 9904 | -€4,337 | €17,532 | +€21,869 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,337 | €17,532 | +€21,869 |
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 24 October 2026 via checked.be.