PEDAVI: 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.
PEDAVI
Largest movements
- Receivables within one year -€156,931
down €156,931 (-80.6%), from €194,609 to €37,678
- Cash +€94,215
up €94,215 (+46.8%), from €201,204 to €295,419
mainly Net result for the year (+€288,208) and Receivables within one year (+€156,931)
- Tangible fixed assets -€14,624
down €14,624 (-8.3%), from €175,330 to €160,705
of which Other tangible fixed assets: -€18,705
- Other debts -€226,619
down €226,619 (-62.7%), from €361,707 to €135,088
- Reserves +€154,036
up €154,036 (+6161.5%), from €2,500 to €156,536
of which Distributable reserves: +€156,536
- Current portion of long-term debt +€32,897
up €32,897 (+76.1%), from €43,227 to €76,124
- Debts after one year -€20,416
down €20,416 (-30.1%), from €67,764 to €47,348
- Trade debts -€18,098
down €18,098 (-40.4%), from €44,789 to €26,692
- Gross operating margin +€112,869
up €112,869 (+12.1%), from €931,540 to €1.0m
- Staff costs +€101,426
up €101,426 (+20.6%), from €492,006 to €593,432
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 | €597,537 | €520,963 | -€76,574 | -12.8% |
| Fixed assets | 21/28 | €177,358 | €162,734 | -€14,624 | -8.2% |
| Tangible fixed assets | 22/27 | €175,330 | €160,705 | -€14,624 | -8.3% |
| Land and buildings | 22 | €1,552 | €1,006 | -€546 | -35.2% |
| Plant, machinery and equipment | 23 | €33,924 | €38,201 | +€4,277 | +12.6% |
| Furniture and vehicles | 24 | €25,991 | €26,340 | +€350 | +1.3% |
| Other tangible fixed assets | 26 | €113,863 | €95,158 | -€18,705 | -16.4% |
| Financial fixed assets | 28 | €2,028 | €2,028 | = | 0.0% |
| Current assets | 29/58 | €420,179 | €358,229 | -€61,950 | -14.7% |
| Stocks and contracts in progress | 3 | €24,366 | €25,132 | +€766 | +3.1% |
| Stocks | 30/36 | €24,366 | €25,132 | +€766 | +3.1% |
| Amounts receivable within one year | 40/41 | €194,609 | €37,678 | -€156,931 | -80.6% |
| Other amounts receivable | 41 | €194,609 | €37,678 | -€156,931 | -80.6% |
| Cash at bank and in hand | 54/58 | €201,204 | €295,419 | +€94,215 | +46.8% |
| Total equity and liabilities | 10/49 | €597,537 | €520,963 | -€76,574 | -12.8% |
| Equity | 10/15 | €8,697 | €162,734 | +€154,036 | +1771.1% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €2,500 | €156,536 | +€154,036 | +6161.5% |
| Non-distributable reserves | 130/1 | €2,500 | €0 | -€2,500 | -100.0% |
| Reserves not available under the articles | 1311 | €2,500 | - | -€2,500 | |
| Other | 1319 | - | €0 | = | |
| Distributable reserves | 133 | €0 | €156,536 | +€156,536 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €588,840 | €358,229 | -€230,610 | -39.2% |
| Amounts payable after more than one year | 17 | €67,764 | €47,348 | -€20,416 | -30.1% |
| Financial debts | 170/4 | €67,764 | €47,348 | -€20,416 | -30.1% |
| Amounts payable within one year | 42/48 | €517,601 | €302,732 | -€214,869 | -41.5% |
| Current portion of amounts payable after more than one year | 42 | €43,227 | €76,124 | +€32,897 | +76.1% |
| Trade debts | 44 | €44,789 | €26,692 | -€18,098 | -40.4% |
| Suppliers | 440/4 | €44,789 | €26,692 | -€18,098 | -40.4% |
| Taxes, remuneration and social security | 45 | €67,878 | €64,829 | -€3,049 | -4.5% |
| Taxes | 450/3 | €31,145 | €42,620 | +€11,475 | +36.8% |
| Remuneration and social security | 454/9 | €36,733 | €22,209 | -€14,524 | -39.5% |
| Other amounts payable | 47/48 | €361,707 | €135,088 | -€226,619 | -62.7% |
| Accrued charges and deferred income | 492/3 | €3,475 | €8,149 | +€4,675 | +134.5% |
| Remuneration, social security and pensions | 62 | €492,006 | €593,432 | +€101,426 | +20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,472 | €52,363 | +€2,891 | +5.8% |
| Other operating charges | 640/8 | €16,823 | €13,670 | -€3,153 | -18.7% |
| Gross operating margin | 9900 | €931,540 | €1,044,409 | +€112,869 | +12.1% |
| Operating profit (loss) | 9901 | €373,238 | €384,945 | +€11,706 | +3.1% |
| Financial income | 75/76B | €11,675 | €5,864 | -€5,810 | -49.8% |
| Recurring financial income | 75 | €11,675 | €5,864 | -€5,810 | -49.8% |
| Financial charges | 65/66B | €7,430 | €4,916 | -€2,514 | -33.8% |
| Recurring financial charges | 65 | €7,430 | €4,916 | -€2,514 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €377,484 | €385,893 | +€8,410 | +2.2% |
| Income taxes | 67/77 | €94,039 | €97,685 | +€3,647 | +3.9% |
| Profit (loss) for the period | 9904 | €283,445 | €288,208 | +€4,763 | +1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €283,445 | €288,208 | +€4,763 | +1.7% |
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 4 October 2026 via checked.be.