Pecquereau: 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.
Pecquereau
Largest movements
- Tangible fixed assets +€127,372
up €127,372 (+153.2%), from €83,137 to €210,508
of which Land and buildings: +€122,062
- Cash -€122,466
down €122,466 (-80.4%), from €152,278 to €29,812
mainly Investment in fixed assets (net) (-€151,148) and Net result for the year (-€18,287)
- Other debts +€34,713
up €34,713 (+224.2%), from €15,483 to €50,196
- Reserves -€14,490
down €14,490 (-10.0%), from €144,839 to €130,349
of which Distributable reserves: -€8,000
- Profit (loss) carried forward -€11,797
down €11,797 (-29.6%), from €39,847 to €28,050
- Purchases and services +€27,751
up €27,751 (+29.6%), from €93,833 to €121,584
- Gross operating margin -€18,069
down €18,069 (-83.4%), from €21,672 to €3,603
- Depreciation +€8,197
up €8,197 (+52.6%), from €15,579 to €23,777
- Taxes -€2,767
no longer reported in 2025 (was €2,767)
- Turnover +€2,135
up €2,135 (+1.9%), from €112,862 to €114,996
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 | €273,786 | €280,844 | +€7,058 | +2.6% |
| Fixed assets | 21/28 | €83,137 | €210,508 | +€127,372 | +153.2% |
| Tangible fixed assets | 22/27 | €83,137 | €210,508 | +€127,372 | +153.2% |
| Land and buildings | 22 | €57,837 | €179,899 | +€122,062 | +211.0% |
| Plant, machinery and equipment | 23 | €25,231 | €30,609 | +€5,379 | +21.3% |
| Furniture and vehicles | 24 | €69 | - | -€69 | |
| Current assets | 29/58 | €190,649 | €70,335 | -€120,314 | -63.1% |
| Stocks and contracts in progress | 3 | €162 | €798 | +€636 | +393.0% |
| Stocks | 30/36 | €162 | €798 | +€636 | +393.0% |
| Amounts receivable within one year | 40/41 | €37,613 | €39,651 | +€2,039 | +5.4% |
| Trade receivables | 40 | €36,379 | €32,178 | -€4,202 | -11.5% |
| Other amounts receivable | 41 | €1,233 | €7,474 | +€6,240 | +505.9% |
| Cash at bank and in hand | 54/58 | €152,278 | €29,812 | -€122,466 | -80.4% |
| Deferred charges and accrued income | 490/1 | €596 | €74 | -€522 | -87.6% |
| Total equity and liabilities | 10/49 | €273,786 | €280,844 | +€7,058 | +2.6% |
| Equity | 10/15 | €202,686 | €176,399 | -€26,287 | -13.0% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | €144,839 | €130,349 | -€14,490 | -10.0% |
| Non-distributable reserves | 130/1 | €550 | €550 | = | 0.0% |
| Reserves not available under the articles | 1311 | €550 | €550 | = | 0.0% |
| Tax-exempt reserves | 132 | €104,289 | €97,799 | -€6,490 | -6.2% |
| Distributable reserves | 133 | €40,000 | €32,000 | -€8,000 | -20.0% |
| Profit (loss) carried forward | 14 | €39,847 | €28,050 | -€11,797 | -29.6% |
| Provisions and deferred taxes | 16 | €26,072 | €23,909 | -€2,163 | -8.3% |
| Deferred taxes | 168 | €26,072 | €23,909 | -€2,163 | -8.3% |
| Amounts payable | 17/49 | €45,028 | €80,536 | +€35,508 | +78.9% |
| Amounts payable within one year | 42/48 | €42,625 | €78,015 | +€35,390 | +83.0% |
| Trade debts | 44 | €26,023 | €27,819 | +€1,796 | +6.9% |
| Suppliers | 440/4 | €26,023 | €27,819 | +€1,796 | +6.9% |
| Taxes, remuneration and social security | 45 | €1,119 | - | -€1,119 | |
| Remuneration and social security | 454/9 | €1,119 | - | -€1,119 | |
| Other amounts payable | 47/48 | €15,483 | €50,196 | +€34,713 | +224.2% |
| Accrued charges and deferred income | 492/3 | €2,403 | €2,521 | +€118 | +4.9% |
| Turnover | 70 | €112,862 | €114,996 | +€2,135 | +1.9% |
| Non-recurring operating income | 76A | €6,960 | €10,190 | +€3,230 | +46.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €93,833 | €121,584 | +€27,751 | +29.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,579 | €23,777 | +€8,197 | +52.6% |
| Other operating charges | 640/8 | €470 | €527 | +€57 | +12.2% |
| Gross operating margin | 9900 | €21,672 | €3,603 | -€18,069 | -83.4% |
| Operating profit (loss) | 9901 | €5,623 | -€20,701 | -€26,324 | |
| Financial income | 75/76B | €2 | €251 | +€249 | +14905.4% |
| Recurring financial income | 75 | €2 | €251 | +€249 | +14905.4% |
| Financial charges | 65/66B | €66 | - | -€66 | |
| Recurring financial charges | 65 | €66 | - | -€66 | |
| Profit (loss) for the period before taxes | 9903 | €5,558 | -€20,450 | -€26,009 | |
| Transfer from deferred taxes | 780 | €1,123 | €2,163 | +€1,041 | +92.7% |
| Income taxes | 67/77 | €2,767 | - | -€2,767 | |
| Profit (loss) for the period | 9904 | €3,915 | -€18,287 | -€22,202 | |
| Transfer from tax-exempt reserves | 789 | €4,491 | €6,490 | +€1,999 | +44.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,406 | -€11,797 | -€20,203 |
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 5 October 2026 via checked.be.