PEARLCA: 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.
PEARLCA
Largest movements
- Tangible fixed assets -€26,469
down €26,469 (-7.5%), from €352,269 to €325,800
of which Land and buildings: -€19,103
- Other debts -€22,800
down €22,800 (-6.8%), from €334,931 to €312,131
- Debts after one year -€9,148
down €9,148 (-24.3%), from €37,586 to €28,438
- Gross operating margin -€19,205
down €19,205 (-28.7%), from €66,941 to €47,736
- Depreciation -€1,582
down €1,582 (-4.3%), from €36,584 to €35,002
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 | €387,855 | €358,585 | -€29,270 | -7.5% |
| Formation expenses | 20 | €11,299 | €10,936 | -€363 | -3.2% |
| Fixed assets | 21/28 | €352,519 | €326,050 | -€26,469 | -7.5% |
| Tangible fixed assets | 22/27 | €352,269 | €325,800 | -€26,469 | -7.5% |
| Land and buildings | 22 | €278,204 | €259,102 | -€19,103 | -6.9% |
| Plant, machinery and equipment | 23 | €61,368 | €56,888 | -€4,481 | -7.3% |
| Furniture and vehicles | 24 | €3,329 | €443 | -€2,886 | -86.7% |
| Other tangible fixed assets | 26 | €9,367 | €9,367 | = | 0.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €24,037 | €21,599 | -€2,438 | -10.1% |
| Cash at bank and in hand | 54/58 | €20,854 | €18,260 | -€2,594 | -12.4% |
| Deferred charges and accrued income | 490/1 | €3,184 | €3,340 | +€156 | +4.9% |
| Total equity and liabilities | 10/49 | €387,855 | €358,585 | -€29,270 | -7.5% |
| Equity | 10/15 | €6,352 | €8,869 | +€2,517 | +39.6% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€193,648 | -€191,131 | +€2,517 | +1.3% |
| Amounts payable | 17/49 | €381,503 | €349,717 | -€31,787 | -8.3% |
| Amounts payable after more than one year | 17 | €37,586 | €28,438 | -€9,148 | -24.3% |
| Financial debts | 170/4 | €37,586 | €28,438 | -€9,148 | -24.3% |
| Amounts payable within one year | 42/48 | €343,917 | €321,278 | -€22,639 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €8,987 | €9,148 | +€161 | +1.8% |
| Other amounts payable | 47/48 | €334,931 | €312,131 | -€22,800 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,584 | €35,002 | -€1,582 | -4.3% |
| Other operating charges | 640/8 | €8,334 | €8,997 | +€662 | +7.9% |
| Gross operating margin | 9900 | €66,941 | €47,736 | -€19,205 | -28.7% |
| Operating profit (loss) | 9901 | €22,022 | €3,737 | -€18,285 | -83.0% |
| Financial charges | 65/66B | €1,333 | €1,220 | -€113 | -8.5% |
| Recurring financial charges | 65 | €1,333 | €1,220 | -€113 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €20,689 | €2,517 | -€18,172 | -87.8% |
| Profit (loss) for the period | 9904 | €20,689 | €2,517 | -€18,172 | -87.8% |
| Profit (loss) for the period to be appropriated | 9905 | €20,689 | €2,517 | -€18,172 | -87.8% |
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 2 October 2026 via checked.be.