P.E.H.: what changed
Two fiscal 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.
P.E.H.
Largest movements
- Receivables within one year -€25,582
down €25,582 (-85.7%), from €29,846 to €4,265
- Tangible fixed assets -€8,069
down €8,069 (-17.5%), from €46,172 to €38,102
of which Furniture and vehicles: -€5,150
- Cash +€2,762
up €2,762 (+1532.6%), from €180 to €2,942
mainly Receivables within one year (+€25,582) and Short-term financial debts (+€10,400)
- Stocks and contracts +€2,217
up €2,217 (+5.9%), from €37,890 to €40,107
- Debts after one year -€32,201
down €32,201 (-28.5%), from €113,144 to €80,943
of which Other amounts payable: -€28,422
- Short-term financial debts +€10,400
new in 2025: €10,400
- Accrued charges and deferred income -€3,716
down €3,716 (-94.8%), from €3,922 to €205
- Profit (loss) carried forward -€2,738
down €2,738 (-4.6%), from -€59,188 to -€61,926
- Gross operating margin -€3,680
down €3,680 (-26.6%), from €13,834 to €10,154
- Financial income +€913
up €913 (+54.8%), from €1,667 to €2,580
- Financial charges +€230
up €230 (+11.1%), from €2,073 to €2,303
- Other operating charges +€209
up €209 (+4.3%), from €4,891 to €5,099
- Depreciation +€154
up €154 (+1.9%), from €7,915 to €8,069
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.
Cash bridge derived
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 | €115,546 | €86,727 | -€28,819 | -24.9% |
| Fixed assets | 21/28 | €46,172 | €38,102 | -€8,069 | -17.5% |
| Tangible fixed assets | 22/27 | €46,172 | €38,102 | -€8,069 | -17.5% |
| Land and buildings | 22 | €30,894 | €30,471 | -€423 | -1.4% |
| Plant, machinery and equipment | 23 | €5,918 | €3,422 | -€2,497 | -42.2% |
| Furniture and vehicles | 24 | €9,360 | €4,210 | -€5,150 | -55.0% |
| Current assets | 29/58 | €69,374 | €48,625 | -€20,750 | -29.9% |
| Stocks and contracts in progress | 3 | €37,890 | €40,107 | +€2,217 | +5.9% |
| Stocks | 30/36 | €37,890 | €40,107 | +€2,217 | +5.9% |
| Amounts receivable within one year | 40/41 | €29,846 | €4,265 | -€25,582 | -85.7% |
| Trade receivables | 40 | €29,846 | €4,265 | -€25,582 | -85.7% |
| Cash at bank and in hand | 54/58 | €180 | €2,942 | +€2,762 | +1532.6% |
| Deferred charges and accrued income | 490/1 | €1,458 | €1,312 | -€146 | -10.0% |
| Total equity and liabilities | 10/49 | €115,546 | €86,727 | -€28,819 | -24.9% |
| Equity | 10/15 | -€14,255 | -€16,993 | -€2,738 | -19.2% |
| Contributions | 10/11 | €44,621 | €44,621 | = | 0.0% |
| Reserves | 13 | €312 | €312 | = | 0.0% |
| Non-distributable reserves | 130/1 | €312 | €312 | = | 0.0% |
| Reserves not available under the articles | 1311 | €312 | €312 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,188 | -€61,926 | -€2,738 | -4.6% |
| Amounts payable | 17/49 | €129,801 | €103,720 | -€26,081 | -20.1% |
| Amounts payable after more than one year | 17 | €113,144 | €80,943 | -€32,201 | -28.5% |
| Financial debts | 170/4 | €3,779 | - | -€3,779 | |
| Trade debts | 175 | €8,865 | €8,865 | = | 0.0% |
| Other amounts payable | 178/9 | €100,500 | €72,078 | -€28,422 | -28.3% |
| Amounts payable within one year | 42/48 | €12,736 | €22,572 | +€9,836 | +77.2% |
| Current portion of amounts payable after more than one year | 42 | €4,382 | €3,779 | -€603 | -13.8% |
| Financial debts | 43 | - | €10,400 | +€10,400 | |
| Credit institutions | 430/8 | - | €10,400 | +€10,400 | |
| Trade debts | 44 | €7,769 | €8,257 | +€487 | +6.3% |
| Suppliers | 440/4 | €7,769 | €8,257 | +€487 | +6.3% |
| Taxes, remuneration and social security | 45 | €585 | €137 | -€448 | -76.6% |
| Taxes | 450/3 | €585 | €137 | -€448 | -76.6% |
| Accrued charges and deferred income | 492/3 | €3,922 | €205 | -€3,716 | -94.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,915 | €8,069 | +€154 | +1.9% |
| Other operating charges | 640/8 | €4,891 | €5,099 | +€209 | +4.3% |
| Gross operating margin | 9900 | €13,834 | €10,154 | -€3,680 | -26.6% |
| Operating profit (loss) | 9901 | €1,029 | -€3,015 | -€4,044 | |
| Financial income | 75/76B | €1,667 | €2,580 | +€913 | +54.8% |
| Recurring financial income | 75 | €1,667 | €2,580 | +€913 | +54.8% |
| Financial charges | 65/66B | €2,073 | €2,303 | +€230 | +11.1% |
| Recurring financial charges | 65 | €2,073 | €2,303 | +€230 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €622 | -€2,738 | -€3,361 | |
| Profit (loss) for the period | 9904 | €622 | -€2,738 | -€3,361 | |
| Profit (loss) for the period to be appropriated | 9905 | €622 | -€2,738 | -€3,361 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.