PedCor: 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.
What changed
PedCor
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€145,841
2024 · €143,999+€1,842
Equity
€600,525
2024 · €549,422+€51,104
Cash
€24,023
2024 · €30,671-€6,648
Balance sheet total
€1.4m
2024 · €1.5m-€85,947
Largest movements
Assets
- Current investments -€45,964
down €45,964 (-94.4%), from €48,684 to €2,720
- Tangible fixed assets -€21,985
down €21,985 (-1.7%), from €1.3m to €1.3m
of which Land and buildings: -€27,966
- Deferred charges and accrued income -€18,814
down €18,814 (-20.5%), from €91,627 to €72,812
Equity and liabilities
- Debts after one year -€119,584
down €119,584 (-17.2%), from €697,265 to €577,681
- Reserves +€51,104
up €51,104 (+9.5%), from €537,022 to €588,125
- Other debts -€29,160
down €29,160 (-73.1%), from €39,898 to €10,738
Income statement
- Financial charges -€5,539
down €5,539 (-15.5%), from €35,694 to €30,155
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.
Result 2024
€143,999
Gross operating margin
-€1,722
Depreciation
-€315
Other operating charges
-€325
Financial income
-€476
Financial charges
+€5,539
Taxes
-€860
Result 2025
€145,841
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.
From operations
+€166,465
Investment
+€36,485
Financing
-€209,599
Cash 2024
€30,671
From operations (derived)
+€166,465
Net result for the year
+€145,841
Depreciation
+€31,464
Receivables within one year
-€7,465
Deferred charges and accrued income
+€18,814
Trade debts
-€2,340
Tax, wage and social debts
+€9,311
Other debts
-€29,160
Investment (derived)
+€36,485
Investment in fixed assets (net)
-€9,479
Current investments
+€45,964
Financing
-€209,599
Debts after one year
-€119,584
Current portion of long-term debt
+€3,552
Short-term financial debts
+€1,170
Contributions, distributions and other
-€94,737
Cash 2025
€24,023
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,466,194 | €1,380,247 | -€85,947 | -5.9% |
| Fixed assets | 21/28 | €1,272,563 | €1,250,578 | -€21,985 | -1.7% |
| Tangible fixed assets | 22/27 | €1,272,563 | €1,250,578 | -€21,985 | -1.7% |
| Land and buildings | 22 | €1,260,453 | €1,232,487 | -€27,966 | -2.2% |
| Plant, machinery and equipment | 23 | €6,187 | €12,768 | +€6,581 | +106.4% |
| Furniture and vehicles | 24 | €1,923 | €1,323 | -€600 | -31.2% |
| Other tangible fixed assets | 26 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €193,631 | €129,669 | -€63,962 | -33.0% |
| Amounts receivable within one year | 40/41 | €22,649 | €30,114 | +€7,465 | +33.0% |
| Other amounts receivable | 41 | €22,649 | €30,114 | +€7,465 | +33.0% |
| Current investments | 50/53 | €48,684 | €2,720 | -€45,964 | -94.4% |
| Cash at bank and in hand | 54/58 | €30,671 | €24,023 | -€6,648 | -21.7% |
| Deferred charges and accrued income | 490/1 | €91,627 | €72,812 | -€18,814 | -20.5% |
| Total equity and liabilities | 10/49 | €1,466,194 | €1,380,247 | -€85,947 | -5.9% |
| Equity | 10/15 | €549,422 | €600,525 | +€51,104 | +9.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €537,022 | €588,125 | +€51,104 | +9.5% |
| Distributable reserves | 133 | €537,022 | €588,125 | +€51,104 | +9.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €916,773 | €779,722 | -€137,051 | -14.9% |
| Amounts payable after more than one year | 17 | €697,265 | €577,681 | -€119,584 | -17.2% |
| Financial debts | 170/4 | €697,265 | €577,681 | -€119,584 | -17.2% |
| Amounts payable within one year | 42/48 | €219,508 | €202,041 | -€17,467 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €155,290 | €158,842 | +€3,552 | +2.3% |
| Financial debts | 43 | - | €1,170 | +€1,170 | |
| Credit institutions | 430/8 | - | €1,170 | +€1,170 | |
| Trade debts | 44 | €12,966 | €10,626 | -€2,340 | -18.0% |
| Suppliers | 440/4 | €12,966 | €10,626 | -€2,340 | -18.0% |
| Taxes, remuneration and social security | 45 | €11,354 | €20,665 | +€9,311 | +82.0% |
| Taxes | 450/3 | €11,354 | €20,665 | +€9,311 | +82.0% |
| Other amounts payable | 47/48 | €39,898 | €10,738 | -€29,160 | -73.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,149 | €31,464 | +€315 | +1.0% |
| Other operating charges | 640/8 | €6,049 | €6,374 | +€325 | +5.4% |
| Gross operating margin | 9900 | €281,769 | €280,047 | -€1,722 | -0.6% |
| Operating profit (loss) | 9901 | €244,571 | €242,209 | -€2,362 | -1.0% |
| Financial income | 75/76B | €476 | €0 | -€476 | -100.0% |
| Recurring financial income | 75 | €476 | €0 | -€476 | -100.0% |
| Financial charges | 65/66B | €35,694 | €30,155 | -€5,539 | -15.5% |
| Recurring financial charges | 65 | €35,694 | €30,155 | -€5,539 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €209,353 | €212,054 | +€2,701 | +1.3% |
| Income taxes | 67/77 | €65,354 | €66,214 | +€860 | +1.3% |
| Profit (loss) for the period | 9904 | €143,999 | €145,841 | +€1,842 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €143,999 | €145,841 | +€1,842 | +1.3% |
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 6 October 2026 via checked.be.