PeBaCo: 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.
PeBaCo
Largest movements
- Tangible fixed assets -€39,787
down €39,787 (-3.4%), from €1.2m to €1.1m
of which Land and buildings: -€39,128
- Debts after one year -€70,403
down €70,403 (-8.7%), from €811,694 to €741,291
- Profit (loss) carried forward +€33,881
up €33,881 (+19.4%), from -€174,833 to -€140,952
- Gross operating margin +€19,180
up €19,180 (+28.1%), from €68,205 to €87,385
- Other operating charges -€1,958
down €1,958 (-57.6%), from €3,402 to €1,444
- Financial charges -€933
down €933 (-7.1%), from €13,224 to €12,291
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 | €1,184,266 | €1,149,647 | -€34,619 | -2.9% |
| Fixed assets | 21/28 | €1,170,730 | €1,130,943 | -€39,787 | -3.4% |
| Tangible fixed assets | 22/27 | €1,170,730 | €1,130,943 | -€39,787 | -3.4% |
| Land and buildings | 22 | €1,169,739 | €1,130,611 | -€39,128 | -3.3% |
| Plant, machinery and equipment | 23 | €127 | €0 | -€127 | -100% |
| Furniture and vehicles | 24 | €864 | €332 | -€532 | -61.6% |
| Current assets | 29/58 | €13,536 | €18,704 | +€5,168 | +38.2% |
| Amounts receivable within one year | 40/41 | €2,036 | €2,747 | +€711 | +34.9% |
| Trade receivables | 40 | €1,811 | €2,004 | +€193 | +10.6% |
| Other amounts receivable | 41 | €224 | €743 | +€518 | +231% |
| Cash at bank and in hand | 54/58 | €11,500 | €14,868 | +€3,368 | +29.3% |
| Deferred charges and accrued income | 490/1 | - | €1,089 | +€1,089 | |
| Total equity and liabilities | 10/49 | €1,184,266 | €1,149,647 | -€34,619 | -2.9% |
| Equity | 10/15 | -€99,833 | -€65,952 | +€33,881 | +33.9% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€174,833 | -€140,952 | +€33,881 | +19.4% |
| Amounts payable | 17/49 | €1,284,099 | €1,215,598 | -€68,500 | -5.3% |
| Amounts payable after more than one year | 17 | €811,694 | €741,291 | -€70,403 | -8.7% |
| Financial debts | 170/4 | €811,694 | €741,291 | -€70,403 | -8.7% |
| Amounts payable within one year | 42/48 | €472,405 | €474,308 | +€1,903 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €69,413 | €70,403 | +€991 | +1.4% |
| Trade debts | 44 | €7,250 | €9,281 | +€2,032 | +28.0% |
| Suppliers | 440/4 | €7,250 | €9,281 | +€2,032 | +28.0% |
| Taxes, remuneration and social security | 45 | €1,650 | - | -€1,650 | |
| Taxes | 450/3 | €1,650 | - | -€1,650 | |
| Other amounts payable | 47/48 | €394,093 | €394,623 | +€530 | +0.1% |
| Remuneration, social security and pensions | 62 | - | €21 | +€21 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,140 | €39,787 | -€353 | -0.9% |
| Other operating charges | 640/8 | €3,402 | €1,444 | -€1,958 | -57.6% |
| Gross operating margin | 9900 | €68,205 | €87,385 | +€19,180 | +28.1% |
| Operating profit (loss) | 9901 | €24,663 | €46,132 | +€21,470 | +87.1% |
| Financial income | 75/76B | €1 | €40 | +€39 | +3,026% |
| Recurring financial income | 75 | €1 | €40 | +€39 | +3,026% |
| Financial charges | 65/66B | €13,224 | €12,291 | -€933 | -7.1% |
| Recurring financial charges | 65 | €13,224 | €12,291 | -€933 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €11,440 | €33,881 | +€22,442 | +196% |
| Profit (loss) for the period | 9904 | €11,440 | €33,881 | +€22,442 | +196% |
| Profit (loss) for the period to be appropriated | 9905 | €11,440 | €33,881 | +€22,442 | +196% |
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.