Le Pélican: 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.
Le Pélican
Largest movements
- Tangible fixed assets -€35,098
down €35,098 (-4.5%), from €784,127 to €749,029
of which Other tangible fixed assets: -€20,775
- Debts after one year -€16,128
down €16,128 (-2.4%), from €684,456 to €668,327
of which Other amounts payable: -€16,128
- Profit (loss) carried forward -€15,359
down €15,359 (-5.2%), from -€295,354 to -€310,713
- Gross operating margin -€4,898
down €4,898 (-13.2%), from €37,034 to €32,137
- Depreciation +€3,118
up €3,118 (+9.7%), from €31,980 to €35,098
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 | €786,122 | €754,992 | -€31,130 | -4.0% |
| Fixed assets | 21/28 | €784,127 | €749,029 | -€35,098 | -4.5% |
| Tangible fixed assets | 22/27 | €784,127 | €749,029 | -€35,098 | -4.5% |
| Land and buildings | 22 | €623,805 | €609,482 | -€14,323 | -2.3% |
| Other tangible fixed assets | 26 | €160,322 | €139,547 | -€20,775 | -13.0% |
| Current assets | 29/58 | €1,995 | €5,962 | +€3,967 | +199% |
| Amounts receivable within one year | 40/41 | €1,300 | €1,300 | = | 0.0% |
| Trade receivables | 40 | €1,300 | €1,300 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €695 | €4,662 | +€3,967 | +571% |
| Total equity and liabilities | 10/49 | €786,122 | €754,992 | -€31,130 | -4.0% |
| Equity | 10/15 | €100,918 | €85,559 | -€15,359 | -15.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €329,314 | €329,314 | = | 0.0% |
| Reserves | 13 | €4,958 | €4,958 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,958 | €4,958 | = | 0.0% |
| Legal reserve | 130 | €4,958 | €4,958 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€295,354 | -€310,713 | -€15,359 | -5.2% |
| Amounts payable | 17/49 | €685,203 | €669,432 | -€15,771 | -2.3% |
| Amounts payable after more than one year | 17 | €684,456 | €668,327 | -€16,128 | -2.4% |
| Financial debts | 170/4 | €499,157 | €499,157 | = | 0.0% |
| Other amounts payable | 178/9 | €185,298 | €169,170 | -€16,128 | -8.7% |
| Amounts payable within one year | 42/48 | €748 | €1,105 | +€357 | +47.8% |
| Trade debts | 44 | €748 | €1,105 | +€357 | +47.8% |
| Suppliers | 440/4 | €748 | €1,105 | +€357 | +47.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,980 | €35,098 | +€3,118 | +9.7% |
| Other operating charges | 640/8 | €387 | €650 | +€263 | +67.9% |
| Gross operating margin | 9900 | €37,034 | €32,137 | -€4,898 | -13.2% |
| Operating profit (loss) | 9901 | €4,667 | -€3,611 | -€8,278 | |
| Financial charges | 65/66B | €11,743 | €11,748 | +€5 | 0.0% |
| Recurring financial charges | 65 | €11,743 | €11,748 | +€5 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,075 | -€15,359 | -€8,284 | -117% |
| Profit (loss) for the period | 9904 | -€7,075 | -€15,359 | -€8,284 | -117% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,075 | -€15,359 | -€8,284 | -117% |
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 21 October 2026 via checked.be.