PEARL BALLOON: 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.
PEARL BALLOON
Largest movements
- Tangible fixed assets -€54,441
down €54,441 (-20.5%), from €264,992 to €210,551
of which Plant, machinery and equipment: -€46,330
- Cash +€14,601
up €14,601 (+139%), from €10,534 to €25,135
mainly Depreciation (+€77,378) and Debts after one year (+€76,666)
- Debts after one year +€76,666
up €76,666 (+651%), from €11,773 to €88,440
of which Other amounts payable: +€80,000
- Other debts -€74,220
down €74,220 (-92.4%), from €80,326 to €6,107
- Accrued charges and deferred income -€49,004
down €49,004 (-28.8%), from €170,000 to €120,996
- Trade debts +€22,986
up €22,986 (+108%), from €21,301 to €44,287
- Short-term financial debts -€17,000
down €17,000 (-100%), from €17,000 to €0
- Gross operating margin +€64,316
up €64,316 (+193%), from €33,284 to €97,600
- Depreciation -€7,531
down €7,531 (-8.9%), from €84,909 to €77,378
- Financial charges -€1,155
down €1,155 (-21.8%), from €5,306 to €4,151
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 | €392,556 | €353,837 | -€38,718 | -9.9% |
| Fixed assets | 21/28 | €265,199 | €210,758 | -€54,441 | -20.5% |
| Tangible fixed assets | 22/27 | €264,992 | €210,551 | -€54,441 | -20.5% |
| Plant, machinery and equipment | 23 | €224,914 | €178,583 | -€46,330 | -20.6% |
| Furniture and vehicles | 24 | €40,079 | €31,967 | -€8,111 | -20.2% |
| Financial fixed assets | 28 | €207 | €207 | = | 0.0% |
| Current assets | 29/58 | €127,356 | €143,080 | +€15,723 | +12.3% |
| Amounts receivable within one year | 40/41 | €107,273 | €108,885 | +€1,612 | +1.5% |
| Trade receivables | 40 | €93,920 | €96,986 | +€3,066 | +3.3% |
| Other amounts receivable | 41 | €13,353 | €11,899 | -€1,454 | -10.9% |
| Cash at bank and in hand | 54/58 | €10,534 | €25,135 | +€14,601 | +139% |
| Deferred charges and accrued income | 490/1 | €9,549 | €9,060 | -€489 | -5.1% |
| Total equity and liabilities | 10/49 | €392,556 | €353,837 | -€38,718 | -9.9% |
| Equity | 10/15 | €66,815 | €76,499 | +€9,684 | +14.5% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €60,609 | €70,294 | +€9,684 | +16.0% |
| 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 | €58,749 | €68,434 | +€9,684 | +16.5% |
| Amounts payable | 17/49 | €325,741 | €277,338 | -€48,402 | -14.9% |
| Amounts payable after more than one year | 17 | €11,773 | €88,440 | +€76,666 | +651% |
| Financial debts | 170/4 | €11,773 | €8,440 | -€3,334 | -28.3% |
| Other amounts payable | 178/9 | - | €80,000 | +€80,000 | |
| Amounts payable within one year | 42/48 | €143,968 | €67,903 | -€76,064 | -52.8% |
| Current portion of amounts payable after more than one year | 42 | €24,705 | €14,635 | -€10,070 | -40.8% |
| Financial debts | 43 | €17,000 | €0 | -€17,000 | -100% |
| Credit institutions | 430/8 | €17,000 | €0 | -€17,000 | -100% |
| Trade debts | 44 | €21,301 | €44,287 | +€22,986 | +108% |
| Suppliers | 440/4 | €21,301 | €44,287 | +€22,986 | +108% |
| Taxes, remuneration and social security | 45 | €635 | €2,874 | +€2,239 | +352% |
| Taxes | 450/3 | €635 | €2,874 | +€2,239 | +352% |
| Other amounts payable | 47/48 | €80,326 | €6,107 | -€74,220 | -92.4% |
| Accrued charges and deferred income | 492/3 | €170,000 | €120,996 | -€49,004 | -28.8% |
| Remuneration, social security and pensions | 62 | €324 | -€341 | -€665 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,909 | €77,378 | -€7,531 | -8.9% |
| Other operating charges | 640/8 | €4,999 | €5,828 | +€829 | +16.6% |
| Gross operating margin | 9900 | €33,284 | €97,600 | +€64,316 | +193% |
| Operating profit (loss) | 9901 | -€56,949 | €14,734 | +€71,684 | |
| Financial income | 75/76B | €492 | €70 | -€422 | -85.9% |
| Recurring financial income | 75 | €492 | €70 | -€422 | -85.9% |
| Financial charges | 65/66B | €5,306 | €4,151 | -€1,155 | -21.8% |
| Recurring financial charges | 65 | €5,306 | €4,151 | -€1,155 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | -€61,764 | €10,653 | +€72,417 | |
| Income taxes | 67/77 | €323 | €968 | +€646 | +200% |
| Profit (loss) for the period | 9904 | -€62,087 | €9,684 | +€71,771 | |
| Profit (loss) for the period to be appropriated | 9905 | -€62,087 | €9,684 | +€71,771 |
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 28 October 2026 via checked.be.