PECK: 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.
PECK
Largest movements
- Tangible fixed assets +€42,486
up €42,486 (+290%), from €14,675 to €57,160
of which Other tangible fixed assets: +€45,765
- Intangible fixed assets -€30,162
down €30,162 (-50.0%), from €60,323 to €30,162
- Receivables within one year +€23,839
up €23,839 (+158%), from €15,119 to €38,958
of which Trade receivables: +€19,927
- Cash -€22,568
down €22,568 (-80.7%), from €27,953 to €5,385
mainly Investment in fixed assets (net) (-€52,587) and Receivables within one year (-€23,839)
- Deferred charges and accrued income -€2,909
down €2,909 (-77.7%), from €3,747 to €837
- Profit (loss) carried forward -€15,473
down €15,473 (-26.9%), from -€57,542 to -€73,015
- Debts after one year +€12,050
up €12,050 (+703%), from €1,715 to €13,765
- Tax, wage and social debts +€8,574
up €8,574 (+2,292%), from €374 to €8,948
- Current portion of long-term debt +€3,021
up €3,021 (+122%), from €2,484 to €5,505
- Gross operating margin +€12,747
up €12,747 (+49.4%), from €25,821 to €38,568
- Taxes -€6,859
down €6,859 (-54.6%), from €12,554 to €5,695
- Financial charges +€3,848
up €3,848 (+134%), from €2,868 to €6,716
- Depreciation +€3,486
up €3,486 (+9.5%), from €36,776 to €40,263
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 | €123,816 | €132,502 | +€8,686 | +7.0% |
| Fixed assets | 21/28 | €74,998 | €87,322 | +€12,324 | +16.4% |
| Intangible fixed assets | 21 | €60,323 | €30,162 | -€30,162 | -50.0% |
| Tangible fixed assets | 22/27 | €14,675 | €57,160 | +€42,486 | +290% |
| Plant, machinery and equipment | 23 | €5,143 | €4,356 | -€787 | -15.3% |
| Furniture and vehicles | 24 | €6,462 | €3,969 | -€2,492 | -38.6% |
| Other tangible fixed assets | 26 | €3,069 | €48,835 | +€45,765 | +1,491% |
| Current assets | 29/58 | €48,818 | €45,180 | -€3,638 | -7.5% |
| Stocks and contracts in progress | 3 | €2,000 | - | -€2,000 | |
| Stocks | 30/36 | €2,000 | - | -€2,000 | |
| Amounts receivable within one year | 40/41 | €15,119 | €38,958 | +€23,839 | +158% |
| Trade receivables | 40 | €11,371 | €31,299 | +€19,927 | +175% |
| Other amounts receivable | 41 | €3,748 | €7,660 | +€3,912 | +104% |
| Cash at bank and in hand | 54/58 | €27,953 | €5,385 | -€22,568 | -80.7% |
| Deferred charges and accrued income | 490/1 | €3,747 | €837 | -€2,909 | -77.7% |
| Total equity and liabilities | 10/49 | €123,816 | €132,502 | +€8,686 | +7.0% |
| Equity | 10/15 | €117,458 | €101,985 | -€15,473 | -13.2% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,542 | -€73,015 | -€15,473 | -26.9% |
| Amounts payable | 17/49 | €6,359 | €30,517 | +€24,158 | +380% |
| Amounts payable after more than one year | 17 | €1,715 | €13,765 | +€12,050 | +703% |
| Financial debts | 170/4 | €1,715 | €13,765 | +€12,050 | +703% |
| Amounts payable within one year | 42/48 | €4,644 | €16,752 | +€12,108 | +261% |
| Current portion of amounts payable after more than one year | 42 | €2,484 | €5,505 | +€3,021 | +122% |
| Trade debts | 44 | €1,786 | €2,300 | +€514 | +28.8% |
| Suppliers | 440/4 | €1,786 | €2,300 | +€514 | +28.8% |
| Taxes, remuneration and social security | 45 | €374 | €8,948 | +€8,574 | +2,292% |
| Taxes | 450/3 | €374 | €8,948 | +€8,574 | +2,292% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,776 | €40,263 | +€3,486 | +9.5% |
| Other operating charges | 640/8 | €1,314 | €1,600 | +€286 | +21.7% |
| Gross operating margin | 9900 | €25,821 | €38,568 | +€12,747 | +49.4% |
| Operating profit (loss) | 9901 | -€12,270 | -€3,295 | +€8,975 | +73.1% |
| Financial income | 75/76B | €111 | €233 | +€121 | +109% |
| Recurring financial income | 75 | €111 | €233 | +€121 | +109% |
| Financial charges | 65/66B | €2,868 | €6,716 | +€3,848 | +134% |
| Recurring financial charges | 65 | €2,868 | €6,716 | +€3,848 | +134% |
| Profit (loss) for the period before taxes | 9903 | -€15,026 | -€9,778 | +€5,249 | +34.9% |
| Income taxes | 67/77 | €12,554 | €5,695 | -€6,859 | -54.6% |
| Profit (loss) for the period | 9904 | -€27,580 | -€15,473 | +€12,107 | +43.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,580 | -€15,473 | +€12,107 | +43.9% |
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.