PECO: 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.
PECO
Largest movements
- Current investments +€26,500
new in 2025: €26,500
- Cash -€10,290
down €10,290 (-19.3%), from €53,187 to €42,898
mainly Current investments (-€26,500) and Receivables within one year (-€8,292)
- Receivables within one year +€8,292
up €8,292 (+1019.0%), from €814 to €9,106
of which Trade receivables: +€8,351
- Tangible fixed assets +€2,786
up €2,786 (+58.6%), from €4,751 to €7,537
of which Land and buildings: +€4,021
- Profit (loss) carried forward +€26,998
up €26,998 (+71.6%), from €37,721 to €64,719
- Tax, wage and social debts +€1,024
up €1,024 (+7.6%), from €13,551 to €14,574
of which Remuneration and social security: +€1,640
- Gross operating margin -€7,459
down €7,459 (-13.0%), from €57,406 to €49,947
- Staff costs -€2,602
down €2,602 (-43.4%), from €5,996 to €3,394
- Taxes -€1,179
down €1,179 (-11.7%), from €10,091 to €8,911
- Other operating charges -€846
down €846 (-39.3%), from €2,150 to €1,304
- Depreciation +€842
up €842 (+59.5%), from €1,414 to €2,256
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 | €58,753 | €86,041 | +€27,288 | +46.4% |
| Fixed assets | 21/28 | €4,751 | €7,537 | +€2,786 | +58.6% |
| Tangible fixed assets | 22/27 | €4,751 | €7,537 | +€2,786 | +58.6% |
| Land and buildings | 22 | - | €4,021 | +€4,021 | |
| Plant, machinery and equipment | 23 | €2,988 | €2,120 | -€868 | -29.0% |
| Furniture and vehicles | 24 | €1,763 | €1,395 | -€368 | -20.9% |
| Current assets | 29/58 | €54,001 | €78,504 | +€24,503 | +45.4% |
| Amounts receivable within one year | 40/41 | €814 | €9,106 | +€8,292 | +1019.0% |
| Trade receivables | 40 | €666 | €9,016 | +€8,351 | +1254.8% |
| Other amounts receivable | 41 | €148 | €90 | -€58 | -39.2% |
| Current investments | 50/53 | - | €26,500 | +€26,500 | |
| Cash at bank and in hand | 54/58 | €53,187 | €42,898 | -€10,290 | -19.3% |
| Total equity and liabilities | 10/49 | €58,753 | €86,041 | +€27,288 | +46.4% |
| Equity | 10/15 | €42,721 | €69,719 | +€26,998 | +63.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,721 | €64,719 | +€26,998 | +71.6% |
| Amounts payable | 17/49 | €16,032 | €16,322 | +€290 | +1.8% |
| Amounts payable within one year | 42/48 | €16,032 | €16,322 | +€290 | +1.8% |
| Trade debts | 44 | €2,481 | €1,747 | -€734 | -29.6% |
| Suppliers | 440/4 | €2,481 | €1,747 | -€734 | -29.6% |
| Taxes, remuneration and social security | 45 | €13,551 | €14,574 | +€1,024 | +7.6% |
| Taxes | 450/3 | €13,549 | €12,933 | -€616 | -4.5% |
| Remuneration and social security | 454/9 | €2 | €1,642 | +€1,640 | +95899.4% |
| Remuneration, social security and pensions | 62 | €5,996 | €3,394 | -€2,602 | -43.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,414 | €2,256 | +€842 | +59.5% |
| Other operating charges | 640/8 | €2,150 | €1,304 | -€846 | -39.3% |
| Gross operating margin | 9900 | €57,406 | €49,947 | -€7,459 | -13.0% |
| Operating profit (loss) | 9901 | €47,847 | €42,994 | -€4,853 | -10.1% |
| Financial income | 75/76B | €8 | €218 | +€211 | +2781.3% |
| Recurring financial income | 75 | €8 | €218 | +€211 | +2781.3% |
| Financial charges | 65/66B | €43 | €160 | +€117 | +275.1% |
| Recurring financial charges | 65 | €43 | €160 | +€117 | +275.1% |
| Profit (loss) for the period before taxes | 9903 | €47,812 | €43,052 | -€4,759 | -10.0% |
| Income taxes | 67/77 | €10,091 | €8,911 | -€1,179 | -11.7% |
| Profit (loss) for the period | 9904 | €37,721 | €34,141 | -€3,580 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €37,721 | €34,141 | -€3,580 | -9.5% |
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 30 September 2026 via checked.be.