PEA: 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.
PEA
Largest movements
- Receivables within one year +€168,012
up €168,012 (+3958.3%), from €4,245 to €172,256
- Cash -€74,856
down €74,856 (-67.0%), from €111,796 to €36,940
mainly Contributions, distributions and other (-€255,000) and Receivables within one year (-€168,012)
- Tangible fixed assets +€54,781
up €54,781 (+127.5%), from €42,964 to €97,745
of which Furniture and vehicles: +€54,781
- Deferred charges and accrued income -€7,777
down €7,777 (-77.0%), from €10,096 to €2,319
- Tax, wage and social debts +€81,097
up €81,097 (+73.5%), from €110,333 to €191,430
of which Taxes: +€80,304
- Debts after one year +€38,294
new in 2025: €38,294
- Advances received -€22,204
no longer reported in 2025 (was €22,204)
- Trade debts +€16,737
up €16,737 (+339.5%), from €4,929 to €21,666
- Current portion of long-term debt +€11,296
new in 2025: €11,296
- Gross operating margin +€120,475
up €120,475 (+43.8%), from €275,134 to €395,609
- Staff costs +€25,897
new in 2025: €25,897
- Taxes +€20,936
up €20,936 (+30.8%), from €68,077 to €89,013
- Depreciation +€12,122
up €12,122 (+587.0%), from €2,065 to €14,187
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 | €169,499 | €309,660 | +€140,161 | +82.7% |
| Fixed assets | 21/28 | €43,364 | €98,145 | +€54,781 | +126.3% |
| Tangible fixed assets | 22/27 | €42,964 | €97,745 | +€54,781 | +127.5% |
| Furniture and vehicles | 24 | €964 | €55,745 | +€54,781 | +5684.5% |
| Assets under construction and advance payments | 27 | €42,000 | €42,000 | = | 0.0% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €126,136 | €211,515 | +€85,379 | +67.7% |
| Amounts receivable within one year | 40/41 | €4,245 | €172,256 | +€168,012 | +3958.3% |
| Trade receivables | 40 | €4,245 | €172,256 | +€168,012 | +3958.3% |
| Cash at bank and in hand | 54/58 | €111,796 | €36,940 | -€74,856 | -67.0% |
| Deferred charges and accrued income | 490/1 | €10,096 | €2,319 | -€7,777 | -77.0% |
| Total equity and liabilities | 10/49 | €169,499 | €309,660 | +€140,161 | +82.7% |
| Equity | 10/15 | €21,071 | €26,388 | +€5,317 | +25.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,471 | €7,788 | +€5,317 | +215.2% |
| Amounts payable | 17/49 | €148,429 | €283,272 | +€134,843 | +90.8% |
| Amounts payable after more than one year | 17 | - | €38,294 | +€38,294 | |
| Financial debts | 170/4 | - | €38,294 | +€38,294 | |
| Amounts payable within one year | 42/48 | €148,429 | €244,978 | +€96,550 | +65.0% |
| Current portion of amounts payable after more than one year | 42 | - | €11,296 | +€11,296 | |
| Trade debts | 44 | €4,929 | €21,666 | +€16,737 | +339.5% |
| Suppliers | 440/4 | €4,929 | €21,666 | +€16,737 | +339.5% |
| Advances received on contracts in progress | 46 | €22,204 | - | -€22,204 | |
| Taxes, remuneration and social security | 45 | €110,333 | €191,430 | +€81,097 | +73.5% |
| Taxes | 450/3 | €110,333 | €190,636 | +€80,304 | +72.8% |
| Remuneration and social security | 454/9 | - | €794 | +€794 | |
| Other amounts payable | 47/48 | €10,963 | €20,587 | +€9,624 | +87.8% |
| Remuneration, social security and pensions | 62 | - | €25,897 | +€25,897 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,065 | €14,187 | +€12,122 | +587.0% |
| Other operating charges | 640/8 | €4,936 | €1,867 | -€3,069 | -62.2% |
| Gross operating margin | 9900 | €275,134 | €395,609 | +€120,475 | +43.8% |
| Operating profit (loss) | 9901 | €268,133 | €353,659 | +€85,526 | +31.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €3,029 | €4,329 | +€1,299 | +42.9% |
| Recurring financial charges | 65 | €3,029 | €4,329 | +€1,299 | +42.9% |
| Profit (loss) for the period before taxes | 9903 | €265,104 | €349,331 | +€84,227 | +31.8% |
| Income taxes | 67/77 | €68,077 | €89,013 | +€20,936 | +30.8% |
| Profit (loss) for the period | 9904 | €197,026 | €260,317 | +€63,291 | +32.1% |
| Profit (loss) for the period to be appropriated | 9905 | €197,026 | €260,317 | +€63,291 | +32.1% |
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 29 September 2026 via checked.be.