Pecon: 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.
Pecon
Largest movements
- Tangible fixed assets +€295,357
up €295,357 (+82.8%), from €356,513 to €651,870
of which Land and buildings: +€313,216
- Receivables within one year -€84,158
down €84,158 (-75.0%), from €112,237 to €28,080
of which Trade receivables: -€91,802
- Debts after one year +€190,133
up €190,133 (+111%), from €171,517 to €361,650
- Reserves -€105,376
down €105,376 (-40.2%), from €261,903 to €156,527
- Other debts +€89,139
up €89,139 (+259%), from €34,405 to €123,544
- Current portion of long-term debt +€21,068
up €21,068 (+138%), from €15,288 to €36,356
- Tax, wage and social debts +€10,778
up €10,778 (+82.3%), from €13,103 to €23,881
of which Taxes: +€14,478
- Taxes -€13,644
no longer reported in 2025 (was €13,644)
- Depreciation +€9,957
up €9,957 (+27.7%), from €35,929 to €45,886
- Gross operating margin -€9,052
down €9,052 (-11.3%), from €80,072 to €71,020
- Financial charges +€5,886
up €5,886 (+164%), from €3,589 to €9,475
- Financial income -€1,653
down €1,653 (-98.5%), from €1,679 to €26
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 | €516,598 | €725,216 | +€208,619 | +40.4% |
| Fixed assets | 21/28 | €356,513 | €651,870 | +€295,357 | +82.8% |
| Tangible fixed assets | 22/27 | €356,513 | €651,870 | +€295,357 | +82.8% |
| Land and buildings | 22 | €300,350 | €613,566 | +€313,216 | +104% |
| Plant, machinery and equipment | 23 | €208 | - | -€208 | |
| Furniture and vehicles | 24 | €55,956 | €38,304 | -€17,652 | -31.5% |
| Current assets | 29/58 | €160,085 | €73,346 | -€86,738 | -54.2% |
| Amounts receivable within one year | 40/41 | €112,237 | €28,080 | -€84,158 | -75.0% |
| Trade receivables | 40 | €105,882 | €14,080 | -€91,802 | -86.7% |
| Other amounts receivable | 41 | €6,356 | €14,000 | +€7,644 | +120% |
| Cash at bank and in hand | 54/58 | €45,981 | €43,863 | -€2,118 | -4.6% |
| Deferred charges and accrued income | 490/1 | €1,866 | €1,403 | -€463 | -24.8% |
| Total equity and liabilities | 10/49 | €516,598 | €725,216 | +€208,619 | +40.4% |
| Equity | 10/15 | €280,503 | €175,127 | -€105,376 | -37.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €261,903 | €156,527 | -€105,376 | -40.2% |
| Distributable reserves | 133 | €261,903 | €156,527 | -€105,376 | -40.2% |
| Amounts payable | 17/49 | €236,094 | €550,089 | +€313,995 | +133% |
| Amounts payable after more than one year | 17 | €171,517 | €361,650 | +€190,133 | +111% |
| Financial debts | 170/4 | €171,517 | €361,650 | +€190,133 | +111% |
| Amounts payable within one year | 42/48 | €63,703 | €187,917 | +€124,214 | +195% |
| Current portion of amounts payable after more than one year | 42 | €15,288 | €36,356 | +€21,068 | +138% |
| Trade debts | 44 | €907 | €1,535 | +€628 | +69.2% |
| Suppliers | 440/4 | €907 | €1,535 | +€628 | +69.2% |
| Advances received on contracts in progress | 46 | - | €2,602 | +€2,602 | |
| Taxes, remuneration and social security | 45 | €13,103 | €23,881 | +€10,778 | +82.3% |
| Taxes | 450/3 | €9,403 | €23,881 | +€14,478 | +154% |
| Remuneration and social security | 454/9 | €3,700 | - | -€3,700 | |
| Other amounts payable | 47/48 | €34,405 | €123,544 | +€89,139 | +259% |
| Accrued charges and deferred income | 492/3 | €874 | €522 | -€352 | -40.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,929 | €45,886 | +€9,957 | +27.7% |
| Other operating charges | 640/8 | €1,145 | €1,062 | -€84 | -7.3% |
| Gross operating margin | 9900 | €80,072 | €71,020 | -€9,052 | -11.3% |
| Operating profit (loss) | 9901 | €42,998 | €24,073 | -€18,925 | -44.0% |
| Financial income | 75/76B | €1,679 | €26 | -€1,653 | -98.5% |
| Recurring financial income | 75 | €1,679 | €26 | -€1,653 | -98.5% |
| Financial charges | 65/66B | €3,589 | €9,475 | +€5,886 | +164% |
| Recurring financial charges | 65 | €3,589 | €9,475 | +€5,886 | +164% |
| Profit (loss) for the period before taxes | 9903 | €41,088 | €14,624 | -€26,464 | -64.4% |
| Income taxes | 67/77 | €13,644 | - | -€13,644 | |
| Profit (loss) for the period | 9904 | €27,443 | €14,624 | -€12,819 | -46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,443 | €14,624 | -€12,819 | -46.7% |
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 13 October 2026 via checked.be.