LE PELICAN: 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 PELICAN
Largest movements
- Receivables within one year +€42,241
up €42,241 (+1,488%), from €2,839 to €45,080
of which Other amounts receivable: +€42,241
- Cash +€19,342
up €19,342 (+3.7%), from €527,335 to €546,676
mainly Net result for the year (+€49,562) and Other debts (+€46,838)
- Tangible fixed assets -€17,580
down €17,580 (-26.2%), from €67,176 to €49,596
- Other debts +€46,838
up €46,838 (+9.5%), from €491,016 to €537,854
- Tax, wage and social debts +€19,074
up €19,074 (+51.1%), from €37,358 to €56,432
of which Taxes: +€19,399
- Debts after one year -€18,189
down €18,189 (-70.1%), from €25,965 to €7,776
- Short-term financial debts -€10,336
down €10,336 (-100%), from €10,336 to €0
- Trade debts +€6,656
up €6,656 (+213%), from €3,128 to €9,784
- Gross operating margin -€178,186
down €178,186 (-62.9%), from €283,204 to €105,018
- Taxes -€39,670
down €39,670 (-62.8%), from €63,151 to €23,480
- Staff costs -€12,825
down €12,825 (-46.0%), from €27,898 to €15,073
- Other operating charges -€3,613
down €3,613 (-66.2%), from €5,454 to €1,841
- Financial income +€2,867
up €2,867 (+167%), from €1,718 to €4,585
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 | €599,604 | €644,294 | +€44,690 | +7.5% |
| Fixed assets | 21/28 | €67,176 | €49,596 | -€17,580 | -26.2% |
| Tangible fixed assets | 22/27 | €67,176 | €49,596 | -€17,580 | -26.2% |
| Furniture and vehicles | 24 | €67,176 | €49,596 | -€17,580 | -26.2% |
| Current assets | 29/58 | €532,429 | €594,699 | +€62,270 | +11.7% |
| Amounts receivable within one year | 40/41 | €2,839 | €45,080 | +€42,241 | +1,488% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €2,839 | €45,080 | +€42,241 | +1,488% |
| Cash at bank and in hand | 54/58 | €527,335 | €546,676 | +€19,342 | +3.7% |
| Deferred charges and accrued income | 490/1 | €2,255 | €2,942 | +€687 | +30.5% |
| Total equity and liabilities | 10/49 | €599,604 | €644,294 | +€44,690 | +7.5% |
| Equity | 10/15 | €14,260 | €14,260 | = | 0.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €585,344 | €630,034 | +€44,690 | +7.6% |
| Amounts payable after more than one year | 17 | €25,965 | €7,776 | -€18,189 | -70.1% |
| Financial debts | 170/4 | €25,965 | €7,776 | -€18,189 | -70.1% |
| Amounts payable within one year | 42/48 | €559,380 | €622,259 | +€62,879 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €17,542 | €18,189 | +€647 | +3.7% |
| Financial debts | 43 | €10,336 | €0 | -€10,336 | -100% |
| Credit institutions | 430/8 | €10,336 | €0 | -€10,336 | -100% |
| Trade debts | 44 | €3,128 | €9,784 | +€6,656 | +213% |
| Suppliers | 440/4 | €3,128 | €9,784 | +€6,656 | +213% |
| Taxes, remuneration and social security | 45 | €37,358 | €56,432 | +€19,074 | +51.1% |
| Taxes | 450/3 | €36,008 | €55,407 | +€19,399 | +53.9% |
| Remuneration and social security | 454/9 | €1,350 | €1,025 | -€325 | -24.1% |
| Other amounts payable | 47/48 | €491,016 | €537,854 | +€46,838 | +9.5% |
| Non-recurring operating income | 76A | €7,731 | €0 | -€7,731 | -100% |
| Remuneration, social security and pensions | 62 | €27,898 | €15,073 | -€12,825 | -46.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,580 | €17,580 | = | 0.0% |
| Other operating charges | 640/8 | €5,454 | €1,841 | -€3,613 | -66.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €283,204 | €105,018 | -€178,186 | -62.9% |
| Operating profit (loss) | 9901 | €232,272 | €70,524 | -€161,748 | -69.6% |
| Financial income | 75/76B | €1,718 | €4,585 | +€2,867 | +167% |
| Recurring financial income | 75 | €1,718 | €4,585 | +€2,867 | +167% |
| Financial charges | 65/66B | €4,826 | €2,067 | -€2,759 | -57.2% |
| Recurring financial charges | 65 | €4,826 | €2,067 | -€2,759 | -57.2% |
| Profit (loss) for the period before taxes | 9903 | €229,165 | €73,042 | -€156,122 | -68.1% |
| Income taxes | 67/77 | €63,151 | €23,480 | -€39,670 | -62.8% |
| Profit (loss) for the period | 9904 | €166,014 | €49,562 | -€116,452 | -70.1% |
| Profit (loss) for the period to be appropriated | 9905 | €166,014 | €49,562 | -€116,452 | -70.1% |
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 16 October 2026 via checked.be.