PEBACO: 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.
PEBACO
Largest movements
- Cash -€3,731
down €3,731 (-7.6%), from €49,062 to €45,331
mainly Trade debts (-€22,208) and Deferred charges and accrued income (-€334)
- Trade debts -€22,208
no longer reported in 2025 (was €22,208)
- Reserves +€13,371
up €13,371 (+124.7%), from €10,719 to €24,090
of which Non-distributable reserves: +€12,500
- Profit (loss) carried forward +€4,044
up €4,044 (+151.7%), from €2,665 to €6,709
- Tax, wage and social debts +€1,284
up €1,284 (+20.7%), from €6,188 to €7,472
of which Taxes: +€1,677
- Gross operating margin +€5,875
up €5,875 (+30.0%), from €19,587 to €25,462
- Taxes +€2,677
up €2,677 (+55.8%), from €4,795 to €7,472
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 | €49,280 | €45,770 | -€3,510 | -7.1% |
| Current assets | 29/58 | €49,280 | €45,770 | -€3,510 | -7.1% |
| Amounts receivable within one year | 40/41 | €218 | €105 | -€113 | -51.9% |
| Trade receivables | 40 | - | €105 | +€105 | |
| Other amounts receivable | 41 | €218 | - | -€218 | |
| Cash at bank and in hand | 54/58 | €49,062 | €45,331 | -€3,731 | -7.6% |
| Deferred charges and accrued income | 490/1 | - | €334 | +€334 | |
| Total equity and liabilities | 10/49 | €49,280 | €45,770 | -€3,510 | -7.1% |
| Equity | 10/15 | €20,884 | €38,299 | +€17,415 | +83.4% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €10,719 | €24,090 | +€13,371 | +124.7% |
| Non-distributable reserves | 130/1 | €10,000 | €22,500 | +€12,500 | +125.0% |
| Reserves not available under the articles | 1311 | €10,000 | €22,500 | +€12,500 | +125.0% |
| Distributable reserves | 133 | €719 | €1,590 | +€871 | +121.1% |
| Profit (loss) carried forward | 14 | €2,665 | €6,709 | +€4,044 | +151.7% |
| Amounts payable | 17/49 | €28,396 | €7,472 | -€20,925 | -73.7% |
| Amounts payable within one year | 42/48 | €28,396 | €7,472 | -€20,925 | -73.7% |
| Trade debts | 44 | €22,208 | - | -€22,208 | |
| Suppliers | 440/4 | €22,208 | - | -€22,208 | |
| Taxes, remuneration and social security | 45 | €6,188 | €7,472 | +€1,284 | +20.7% |
| Taxes | 450/3 | €5,795 | €7,472 | +€1,677 | +28.9% |
| Remuneration and social security | 454/9 | €393 | - | -€393 | |
| Other operating charges | 640/8 | €393 | €576 | +€183 | +46.5% |
| Gross operating margin | 9900 | €19,587 | €25,462 | +€5,875 | +30.0% |
| Operating profit (loss) | 9901 | €19,194 | €24,886 | +€5,692 | +29.7% |
| Financial charges | 65/66B | €15 | - | -€15 | |
| Recurring financial charges | 65 | €15 | - | -€15 | |
| Profit (loss) for the period before taxes | 9903 | €19,179 | €24,886 | +€5,707 | +29.8% |
| Income taxes | 67/77 | €4,795 | €7,472 | +€2,677 | +55.8% |
| Profit (loss) for the period | 9904 | €14,384 | €17,415 | +€3,030 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,384 | €17,415 | +€3,030 | +21.1% |
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 9 October 2026 via checked.be.