PECS STABLES: 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.
PECS STABLES
Largest movements
- Stocks and contracts +€76,646
up €76,646 (+47.1%), from €162,748 to €239,394
- Cash -€13,633
down €13,633 (-92.3%), from €14,770 to €1,137
mainly Stocks and contracts (-€76,646) and Debts after one year (-€30,861)
- Tangible fixed assets -€8,860
down €8,860 (-22.6%), from €39,193 to €30,333
of which Plant, machinery and equipment: -€6,314
- Deferred charges and accrued income -€8,105
down €8,105 (-92.8%), from €8,730 to €624
- Profit (loss) carried forward +€76,789
up €76,789 (+107%), from €71,784 to €148,572
- Debts after one year -€30,861
down €30,861 (-39.9%), from €77,258 to €46,397
- Trade debts +€4,951
up €4,951 (+180%), from €2,752 to €7,703
- Tax, wage and social debts -€4,125
down €4,125 (-53.3%), from €7,740 to €3,615
of which Taxes: -€4,125
- Gross operating margin +€87,555
up €87,555 (+994%), from €8,810 to €96,365
- Financial charges +€4,385
up €4,385 (+398%), from €1,101 to €5,486
- Depreciation +€1,375
up €1,375 (+14.6%), from €9,400 to €10,775
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 | €246,660 | €293,442 | +€46,782 | +19.0% |
| Fixed assets | 21/28 | €39,556 | €30,696 | -€8,860 | -22.4% |
| Tangible fixed assets | 22/27 | €39,193 | €30,333 | -€8,860 | -22.6% |
| Plant, machinery and equipment | 23 | €15,227 | €8,913 | -€6,314 | -41.5% |
| Furniture and vehicles | 24 | €5,653 | €6,209 | +€556 | +9.8% |
| Other tangible fixed assets | 26 | €18,313 | €15,212 | -€3,101 | -16.9% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €207,104 | €262,746 | +€55,642 | +26.9% |
| Stocks and contracts in progress | 3 | €162,748 | €239,394 | +€76,646 | +47.1% |
| Stocks | 30/36 | €162,748 | €239,394 | +€76,646 | +47.1% |
| Amounts receivable within one year | 40/41 | €20,856 | €21,590 | +€735 | +3.5% |
| Trade receivables | 40 | €20,856 | €21,142 | +€286 | +1.4% |
| Other amounts receivable | 41 | - | €449 | +€449 | |
| Cash at bank and in hand | 54/58 | €14,770 | €1,137 | -€13,633 | -92.3% |
| Deferred charges and accrued income | 490/1 | €8,730 | €624 | -€8,105 | -92.8% |
| Total equity and liabilities | 10/49 | €246,660 | €293,442 | +€46,782 | +19.0% |
| Equity | 10/15 | €156,269 | €233,057 | +€76,789 | +49.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €22,485 | €22,485 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,637 | €13,637 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,437 | €7,437 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €2,651 | €2,651 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,784 | €148,572 | +€76,789 | +107% |
| Amounts payable | 17/49 | €90,392 | €60,385 | -€30,007 | -33.2% |
| Amounts payable after more than one year | 17 | €77,258 | €46,397 | -€30,861 | -39.9% |
| Financial debts | 170/4 | €77,258 | €46,397 | -€30,861 | -39.9% |
| Amounts payable within one year | 42/48 | €11,134 | €11,988 | +€854 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €642 | €670 | +€28 | +4.4% |
| Trade debts | 44 | €2,752 | €7,703 | +€4,951 | +180% |
| Suppliers | 440/4 | €2,752 | €7,703 | +€4,951 | +180% |
| Taxes, remuneration and social security | 45 | €7,740 | €3,615 | -€4,125 | -53.3% |
| Taxes | 450/3 | €5,907 | €1,782 | -€4,125 | -69.8% |
| Remuneration and social security | 454/9 | €1,833 | €1,833 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Non-recurring operating income | 76A | - | €2,045 | +€2,045 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,400 | €10,775 | +€1,375 | +14.6% |
| Other operating charges | 640/8 | €2,483 | €2,940 | +€457 | +18.4% |
| Gross operating margin | 9900 | €8,810 | €96,365 | +€87,555 | +994% |
| Operating profit (loss) | 9901 | -€3,073 | €82,650 | +€85,723 | |
| Financial income | 75/76B | €391 | €0 | -€391 | -100.0% |
| Recurring financial income | 75 | €391 | €0 | -€391 | -100.0% |
| Financial charges | 65/66B | €1,101 | €5,486 | +€4,385 | +398% |
| Recurring financial charges | 65 | €1,101 | €5,486 | +€4,385 | +398% |
| Profit (loss) for the period before taxes | 9903 | -€3,783 | €77,165 | +€80,947 | |
| Income taxes | 67/77 | €293 | €376 | +€83 | +28.2% |
| Profit (loss) for the period | 9904 | -€4,076 | €76,789 | +€80,864 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,076 | €76,789 | +€80,864 |
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 14 October 2026 via checked.be.