PECECE: 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.
PECECE
Largest movements
- Cash -€98,591
down €98,591 (-47.3%), from €208,439 to €109,848
mainly Net result for the year (-€86,350) and Investment in fixed assets (net) (-€70,866)
- Tangible fixed assets +€44,599
up €44,599 (+20.0%), from €223,313 to €267,912
- Receivables after one year -€42,016
down €42,016 (-9.3%), from €452,195 to €410,179
- Profit (loss) carried forward -€86,350
down €86,350 (-1785.2%), from -€4,837 to -€91,187
- Debts after one year -€28,216
down €28,216 (-3.3%), from €866,860 to €838,644
- Accrued charges and deferred income +€24,426
new in 2025: €24,426
- Other operating charges +€5,418
up €5,418 (+166.6%), from €3,252 to €8,670
- Depreciation +€2,354
up €2,354 (+9.8%), from €23,913 to €26,267
- Gross operating margin +€2,101
up €2,101 (+9.0%), from -€23,407 to -€21,306
- Financial income +€1,939
up €1,939 (+31.8%), from €6,090 to €8,029
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 | €946,447 | €859,721 | -€86,726 | -9.2% |
| Fixed assets | 21/28 | €223,313 | €267,912 | +€44,599 | +20.0% |
| Tangible fixed assets | 22/27 | €223,313 | €267,912 | +€44,599 | +20.0% |
| Land and buildings | 22 | €223,313 | €267,912 | +€44,599 | +20.0% |
| Current assets | 29/58 | €723,134 | €591,810 | -€131,324 | -18.2% |
| Amounts receivable after more than one year | 29 | €452,195 | €410,179 | -€42,016 | -9.3% |
| Other amounts receivable | 291 | €452,195 | €410,179 | -€42,016 | -9.3% |
| Amounts receivable within one year | 40/41 | €62,500 | €62,500 | = | 0.0% |
| Other amounts receivable | 41 | €62,500 | €62,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €208,439 | €109,848 | -€98,591 | -47.3% |
| Deferred charges and accrued income | 490/1 | - | €9,282 | +€9,282 | |
| Total equity and liabilities | 10/49 | €946,447 | €859,721 | -€86,726 | -9.2% |
| Equity | 10/15 | €15,623 | -€70,727 | -€86,350 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,837 | -€91,187 | -€86,350 | -1785.2% |
| Amounts payable | 17/49 | €930,824 | €930,448 | -€376 | 0.0% |
| Amounts payable after more than one year | 17 | €866,860 | €838,644 | -€28,216 | -3.3% |
| Financial debts | 170/4 | €866,860 | €838,644 | -€28,216 | -3.3% |
| Amounts payable within one year | 42/48 | €63,964 | €67,379 | +€3,415 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €38,542 | €38,896 | +€354 | +0.9% |
| Trade debts | 44 | €152 | - | -€152 | |
| Suppliers | 440/4 | €152 | - | -€152 | |
| Taxes, remuneration and social security | 45 | €313 | €3,525 | +€3,213 | +1026.9% |
| Taxes | 450/3 | €313 | €3,525 | +€3,213 | +1026.9% |
| Other amounts payable | 47/48 | €24,958 | €24,958 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €24,426 | +€24,426 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,913 | €26,267 | +€2,354 | +9.8% |
| Other operating charges | 640/8 | €3,252 | €8,670 | +€5,418 | +166.6% |
| Non-recurring operating charges | 66A | €152,050 | - | -€152,050 | |
| Gross operating margin | 9900 | -€23,407 | -€21,306 | +€2,101 | +9.0% |
| Operating profit (loss) | 9901 | -€202,622 | -€56,242 | +€146,380 | +72.2% |
| Financial income | 75/76B | €6,090 | €8,029 | +€1,939 | +31.8% |
| Recurring financial income | 75 | €6,090 | €8,029 | +€1,939 | +31.8% |
| Financial charges | 65/66B | €37,976 | €38,137 | +€160 | +0.4% |
| Recurring financial charges | 65 | €37,976 | €38,137 | +€160 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | -€234,508 | -€86,350 | +€148,159 | +63.2% |
| Profit (loss) for the period | 9904 | -€234,508 | -€86,350 | +€148,159 | +63.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€234,508 | -€86,350 | +€148,159 | +63.2% |
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 11 October 2026 via checked.be.