PEDEGE: 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.
PEDEGE
Largest movements
- Tangible fixed assets -€37,512
down €37,512 (-5.0%), from €744,119 to €706,607
of which Furniture and vehicles: -€36,000
- Receivables within one year +€35,494
up €35,494 (+22.0%), from €161,241 to €196,735
of which Other amounts receivable: +€33,706
- Cash +€12,415
up €12,415 (+245%), from €5,066 to €17,482
mainly Net result for the year (+€69,797) and Other debts (+€54,247)
- Short-term financial debts -€75,712
down €75,712 (-50.2%), from €150,712 to €75,000
- Profit (loss) carried forward +€69,797
up €69,797 (+27.6%), from -€252,433 to -€182,637
- Other debts +€54,247
up €54,247 (+47.1%), from €115,085 to €169,332
- Debts after one year -€28,395
down €28,395 (-4.9%), from €582,060 to €553,664
of which Financial debts: -€28,395
- Trade debts -€14,841
down €14,841 (-78.4%), from €18,920 to €4,079
- Financial charges -€38,457
down €38,457 (-58.5%), from €65,703 to €27,246
- Gross operating margin +€36,029
up €36,029 (+25.6%), from €140,748 to €176,777
- Taxes +€21,552
up €21,552 (+3,292%), from €655 to €22,207
- Depreciation -€10,198
down €10,198 (-16.1%), from €63,334 to €53,136
- Other operating charges -€3,676
down €3,676 (-45.4%), from €8,093 to €4,417
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 | €910,427 | €920,824 | +€10,398 | +1.1% |
| Fixed assets | 21/28 | €744,119 | €706,607 | -€37,512 | -5.0% |
| Tangible fixed assets | 22/27 | €744,119 | €706,607 | -€37,512 | -5.0% |
| Land and buildings | 22 | €569,204 | €554,622 | -€14,583 | -2.6% |
| Plant, machinery and equipment | 23 | €2,125 | €1,168 | -€957 | -45.0% |
| Furniture and vehicles | 24 | €128,274 | €92,274 | -€36,000 | -28.1% |
| Assets under construction and advance payments | 27 | €44,516 | €58,544 | +€14,028 | +31.5% |
| Current assets | 29/58 | €166,308 | €214,217 | +€47,909 | +28.8% |
| Amounts receivable within one year | 40/41 | €161,241 | €196,735 | +€35,494 | +22.0% |
| Trade receivables | 40 | €27,495 | €29,283 | +€1,788 | +6.5% |
| Other amounts receivable | 41 | €133,746 | €167,453 | +€33,706 | +25.2% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €5,066 | €17,482 | +€12,415 | +245% |
| Total equity and liabilities | 10/49 | €910,427 | €920,824 | +€10,398 | +1.1% |
| Equity | 10/15 | -€2,433 | €67,363 | +€69,797 | |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€252,433 | -€182,637 | +€69,797 | +27.6% |
| Amounts payable | 17/49 | €912,860 | €853,461 | -€59,399 | -6.5% |
| Amounts payable after more than one year | 17 | €582,060 | €553,664 | -€28,395 | -4.9% |
| Financial debts | 170/4 | €132,060 | €103,664 | -€28,395 | -21.5% |
| Other amounts payable | 178/9 | €450,000 | €450,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €330,801 | €297,703 | -€33,097 | -10.0% |
| Current portion of amounts payable after more than one year | 42 | €32,874 | €28,395 | -€4,479 | -13.6% |
| Financial debts | 43 | €150,712 | €75,000 | -€75,712 | -50.2% |
| Credit institutions | 430/8 | €150,712 | €75,000 | -€75,712 | -50.2% |
| Trade debts | 44 | €18,920 | €4,079 | -€14,841 | -78.4% |
| Suppliers | 440/4 | €18,920 | €4,079 | -€14,841 | -78.4% |
| Taxes, remuneration and social security | 45 | €13,209 | €20,897 | +€7,688 | +58.2% |
| Taxes | 450/3 | €13,209 | €20,897 | +€7,688 | +58.2% |
| Other amounts payable | 47/48 | €115,085 | €169,332 | +€54,247 | +47.1% |
| Accrued charges and deferred income | 492/3 | - | €2,093 | +€2,093 | |
| Non-recurring operating income | 76A | - | €40,000 | +€40,000 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,334 | €53,136 | -€10,198 | -16.1% |
| Other operating charges | 640/8 | €8,093 | €4,417 | -€3,676 | -45.4% |
| Gross operating margin | 9900 | €140,748 | €176,777 | +€36,029 | +25.6% |
| Operating profit (loss) | 9901 | €69,321 | €119,224 | +€49,903 | +72.0% |
| Financial income | 75/76B | €284 | €25 | -€259 | -91.0% |
| Recurring financial income | 75 | €284 | €25 | -€259 | -91.0% |
| Financial charges | 65/66B | €65,703 | €27,246 | -€38,457 | -58.5% |
| Recurring financial charges | 65 | €65,703 | €27,246 | -€38,457 | -58.5% |
| Profit (loss) for the period before taxes | 9903 | €3,903 | €92,003 | +€88,101 | +2,257% |
| Income taxes | 67/77 | €655 | €22,207 | +€21,552 | +3,292% |
| Profit (loss) for the period | 9904 | €3,248 | €69,797 | +€66,549 | +2,049% |
| Profit (loss) for the period to be appropriated | 9905 | €3,248 | €69,797 | +€66,549 | +2,049% |
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.