PEDAP: 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.
PEDAP
Largest movements
- Stocks and contracts +€73,323
up €73,323 (+23.0%), from €319,026 to €392,349
- Tangible fixed assets +€42,288
up €42,288 (+131.5%), from €32,155 to €74,443
of which Furniture and vehicles: +€51,244
- Receivables within one year +€26,785
up €26,785 (+119.4%), from €22,429 to €49,213
of which Trade receivables: +€17,219
- Profit (loss) carried forward +€102,583
new in 2025: €102,583
- Debts after one year +€36,266
up €36,266 (+210.1%), from €17,258 to €53,523
- Tax, wage and social debts -€6,820
down €6,820 (-43.3%), from €15,759 to €8,940
of which Taxes: -€4,546
- Current portion of long-term debt +€6,499
up €6,499 (+53.7%), from €12,100 to €18,600
- Short-term financial debts -€6,173
down €6,173 (-41.2%), from €15,000 to €8,827
- Gross operating margin +€82,607
up €82,607 (+75.6%), from €109,288 to €191,895
- Taxes +€11,895
up €11,895 (+57.6%), from €20,643 to €32,538
- Depreciation +€7,786
up €7,786 (+93.1%), from €8,367 to €16,153
- Financial charges +€2,969
up €2,969 (+50.8%), from €5,843 to €8,812
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 | €398,494 | €536,968 | +€138,474 | +34.7% |
| Fixed assets | 21/28 | €32,181 | €74,450 | +€42,269 | +131.3% |
| Intangible fixed assets | 21 | €25 | €7 | -€19 | -74.4% |
| Tangible fixed assets | 22/27 | €32,155 | €74,443 | +€42,288 | +131.5% |
| Plant, machinery and equipment | 23 | €9,567 | €6,163 | -€3,404 | -35.6% |
| Furniture and vehicles | 24 | - | €51,244 | +€51,244 | |
| Leasing and similar rights | 25 | €22,296 | €16,943 | -€5,353 | -24.0% |
| Other tangible fixed assets | 26 | €292 | €92 | -€200 | -68.4% |
| Current assets | 29/58 | €366,314 | €462,518 | +€96,205 | +26.3% |
| Stocks and contracts in progress | 3 | €319,026 | €392,349 | +€73,323 | +23.0% |
| Stocks | 30/36 | €319,026 | €392,349 | +€73,323 | +23.0% |
| Amounts receivable within one year | 40/41 | €22,429 | €49,213 | +€26,785 | +119.4% |
| Trade receivables | 40 | €19,057 | €36,276 | +€17,219 | +90.4% |
| Other amounts receivable | 41 | €3,372 | €12,937 | +€9,566 | +283.7% |
| Cash at bank and in hand | 54/58 | €24,447 | €19,779 | -€4,668 | -19.1% |
| Deferred charges and accrued income | 490/1 | €411 | €1,176 | +€765 | +185.9% |
| Total equity and liabilities | 10/49 | €398,494 | €536,968 | +€138,474 | +34.7% |
| Equity | 10/15 | €302,205 | €404,788 | +€102,583 | +33.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €283,605 | €283,605 | = | 0.0% |
| Distributable reserves | 133 | €283,605 | €283,605 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €102,583 | +€102,583 | |
| Amounts payable | 17/49 | €96,289 | €132,179 | +€35,890 | +37.3% |
| Amounts payable after more than one year | 17 | €17,258 | €53,523 | +€36,266 | +210.1% |
| Financial debts | 170/4 | €17,258 | €53,523 | +€36,266 | +210.1% |
| Amounts payable within one year | 42/48 | €77,591 | €76,024 | -€1,567 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €12,100 | €18,600 | +€6,499 | +53.7% |
| Financial debts | 43 | €15,000 | €8,827 | -€6,173 | -41.2% |
| Credit institutions | 430/8 | €15,000 | €8,827 | -€6,173 | -41.2% |
| Trade debts | 44 | €33,281 | €38,727 | +€5,446 | +16.4% |
| Suppliers | 440/4 | €33,281 | €38,727 | +€5,446 | +16.4% |
| Taxes, remuneration and social security | 45 | €15,759 | €8,940 | -€6,820 | -43.3% |
| Taxes | 450/3 | €11,083 | €6,538 | -€4,546 | -41.0% |
| Remuneration and social security | 454/9 | €4,676 | €2,402 | -€2,274 | -48.6% |
| Other amounts payable | 47/48 | €1,451 | €930 | -€520 | -35.9% |
| Accrued charges and deferred income | 492/3 | €1,441 | €2,633 | +€1,192 | +82.7% |
| Remuneration, social security and pensions | 62 | €28,222 | €30,046 | +€1,824 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,367 | €16,153 | +€7,786 | +93.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €441 | - | -€441 | |
| Other operating charges | 640/8 | €3,054 | €1,975 | -€1,079 | -35.3% |
| Gross operating margin | 9900 | €109,288 | €191,895 | +€82,607 | +75.6% |
| Operating profit (loss) | 9901 | €69,204 | €143,721 | +€74,517 | +107.7% |
| Financial income | 75/76B | €190 | €212 | +€22 | +11.4% |
| Recurring financial income | 75 | €190 | €212 | +€22 | +11.4% |
| Financial charges | 65/66B | €5,843 | €8,812 | +€2,969 | +50.8% |
| Recurring financial charges | 65 | €5,843 | €8,812 | +€2,969 | +50.8% |
| Profit (loss) for the period before taxes | 9903 | €63,551 | €135,121 | +€71,570 | +112.6% |
| Income taxes | 67/77 | €20,643 | €32,538 | +€11,895 | +57.6% |
| Profit (loss) for the period | 9904 | €42,908 | €102,583 | +€59,675 | +139.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,908 | €102,583 | +€59,675 | +139.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.