PEDEO: 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
PEDEO
NACE 24.530, Manufacture of basic metals
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€9,135
2024 · -€20,452+€29,587
Equity
€706,937
2024 · €711,703-€4,766
Cash
€23,250
2024 · €17,463+€5,787
Balance sheet total
€4.2m
2024 · €4.8m-€531,936
Largest movements
Assets
- Tangible fixed assets -€533,754
down €533,754 (-23.7%), from €2.3m to €1.7m
of which Leasing and similar rights: -€723,825
Equity and liabilities
- Debts after one year -€414,582
down €414,582 (-49.5%), from €837,914 to €423,333
- Current portion of long-term debt -€183,096
down €183,096 (-30.6%), from €597,677 to €414,582
- Short-term financial debts +€116,523
up €116,523 (+23.9%), from €487,000 to €603,523
- Trade debts -€59,064
down €59,064 (-4.6%), from €1.3m to €1.2m
Income statement
- Turnover -€1.0m
down €1.0m (-9.9%), from €10.4m to €9.4m
- Goods and materials -€582,100
down €582,100 (-16.1%), from €3.6m to €3.0m
of which Purchases: -€706,651
- Services and other goods -€318,087
down €318,087 (-11.9%), from €2.7m to €2.3m
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
-€20,452
Turnover
-€1.0m
Other operating income
-€10,979
Goods and materials
+€582,100
Services and other goods
+€318,087
Staff costs
-€54,799
Depreciation
+€50,422
Write-downs
-€1,720
Provisions
-€69,989
Other operating charges
+€102
Other operating items
+€212,265
Financial income
+€1,744
Financial charges
+€38,697
Taxes
-€204
Result 2025
€9,135
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
+€691,132
Investment
-€190,291
Financing
-€495,055
Cash 2024
€17,463
From operations (derived)
+€691,132
Net result for the year
+€9,135
Depreciation
+€712,736
Stocks and contracts
+€28,037
Receivables within one year
-€8,352
Deferred charges and accrued income
-€4,407
Provisions
+€18,916
Trade debts
-€59,064
Tax, wage and social debts
-€12,443
Other debts
-€1,479
Accrued charges and deferred income
+€8,054
Investment (derived)
-€190,291
Investment in fixed assets (net)
-€190,291
Financing
-€495,055
Debts after one year
-€414,582
Current portion of long-term debt
-€183,096
Short-term financial debts
+€116,523
Contributions, distributions and other
-€13,901
Cash 2025
€23,250
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,760,645 | €4,228,709 | -€531,936 | -11.2% |
| Fixed assets | 21/28 | €2,312,457 | €1,790,012 | -€522,445 | -22.6% |
| Intangible fixed assets | 21 | €55,907 | €67,216 | +€11,309 | +20.2% |
| Tangible fixed assets | 22/27 | €2,256,550 | €1,722,796 | -€533,754 | -23.7% |
| Land and buildings | 22 | €38,174 | €23,095 | -€15,079 | -39.5% |
| Plant, machinery and equipment | 23 | €662,233 | €869,170 | +€206,937 | +31.2% |
| Furniture and vehicles | 24 | €7,150 | €5,363 | -€1,787 | -25.0% |
| Leasing and similar rights | 25 | €1,548,993 | €825,168 | -€723,825 | -46.7% |
| Current assets | 29/58 | €2,448,189 | €2,438,697 | -€9,491 | -0.4% |
| Stocks and contracts in progress | 3 | €1,960,466 | €1,932,429 | -€28,037 | -1.4% |
| Stocks | 30/36 | €1,960,466 | €1,932,429 | -€28,037 | -1.4% |
| Raw materials and consumables | 30/31 | €601,676 | €527,074 | -€74,602 | -12.4% |
| Work in progress | 32 | €328,978 | €312,304 | -€16,674 | -5.1% |
| Finished goods | 33 | €1,029,812 | €1,093,051 | +€63,239 | +6.1% |
| Amounts receivable within one year | 40/41 | €361,071 | €369,423 | +€8,352 | +2.3% |
| Trade receivables | 40 | €358,786 | €254,047 | -€104,738 | -29.2% |
| Other amounts receivable | 41 | €2,286 | €115,376 | +€113,091 | +4948.0% |
| Cash at bank and in hand | 54/58 | €17,463 | €23,250 | +€5,787 | +33.1% |
| Deferred charges and accrued income | 490/1 | €109,188 | €113,596 | +€4,407 | +4.0% |
| Total equity and liabilities | 10/49 | €4,760,645 | €4,228,709 | -€531,936 | -11.2% |
| Equity | 10/15 | €711,703 | €706,937 | -€4,766 | -0.7% |
| Contributions | 10/11 | €1,400,000 | €1,400,000 | = | 0.0% |
| Capital | 10 | €1,400,000 | €1,400,000 | = | 0.0% |
| Issued capital | 100 | €1,400,000 | €1,400,000 | = | 0.0% |
| Reserves | 13 | €140,000 | €140,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €140,000 | €140,000 | = | 0.0% |
| Legal reserve | 130 | €140,000 | €140,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€868,765 | -€859,630 | +€9,135 | +1.1% |
| Investment grants | 15 | €40,468 | €26,567 | -€13,901 | -34.3% |
| Provisions and deferred taxes | 16 | €144,087 | €163,004 | +€18,916 | +13.1% |
| Provisions for liabilities and charges | 160/5 | €144,087 | €163,004 | +€18,916 | +13.1% |
| Other liabilities and charges | 164/5 | €144,087 | €163,004 | +€18,916 | +13.1% |
| Amounts payable | 17/49 | €3,904,855 | €3,358,768 | -€546,086 | -14.0% |
| Amounts payable after more than one year | 17 | €837,914 | €423,333 | -€414,582 | -49.5% |
| Financial debts | 170/4 | €837,914 | €423,333 | -€414,582 | -49.5% |
| Leasing and similar obligations | 172 | €566,617 | €284,791 | -€281,826 | -49.7% |
| Credit institutions | 173 | €14,006 | €0 | -€14,006 | -100.0% |
| Other loans | 174 | €257,292 | €138,542 | -€118,750 | -46.2% |
| Amounts payable within one year | 42/48 | €3,044,459 | €2,904,900 | -€139,558 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €597,677 | €414,582 | -€183,096 | -30.6% |
| Financial debts | 43 | €487,000 | €603,523 | +€116,523 | +23.9% |
| Credit institutions | 430/8 | €487,000 | €603,523 | +€116,523 | +23.9% |
| Trade debts | 44 | €1,279,800 | €1,220,737 | -€59,064 | -4.6% |
| Suppliers | 440/4 | €1,279,800 | €1,220,737 | -€59,064 | -4.6% |
| Taxes, remuneration and social security | 45 | €678,050 | €665,607 | -€12,443 | -1.8% |
| Taxes | 450/3 | €97,076 | €108,995 | +€11,919 | +12.3% |
| Remuneration and social security | 454/9 | €580,974 | €556,612 | -€24,362 | -4.2% |
| Other amounts payable | 47/48 | €1,931 | €453 | -€1,479 | -76.6% |
| Accrued charges and deferred income | 492/3 | €22,481 | €30,535 | +€8,054 | +35.8% |
| Operating income | 70/76A | €10,707,846 | €9,873,822 | -€834,024 | -7.8% |
| Turnover | 70 | €10,415,103 | €9,378,963 | -€1.0m | -9.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€77,461 | €46,565 | +€124,026 | |
| Other operating income | 74 | €47,972 | €36,993 | -€10,979 | -22.9% |
| Non-recurring operating income | 76A | €322,232 | €411,302 | +€89,070 | +27.6% |
| Operating charges | 60/66A | €10,576,177 | €9,752,804 | -€823,373 | -7.8% |
| Goods for resale, raw materials and consumables | 60 | €3,619,333 | €3,037,233 | -€582,100 | -16.1% |
| Purchases | 600/8 | €3,669,282 | €2,962,631 | -€706,651 | -19.3% |
| Change in stocks: decrease (increase) | 609 | -€49,949 | €74,602 | +€124,551 | |
| Services and other goods | 61 | €2,664,082 | €2,345,996 | -€318,087 | -11.9% |
| Remuneration, social security and pensions | 62 | €3,562,168 | €3,616,967 | +€54,799 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €763,158 | €712,736 | -€50,422 | -6.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,720 | +€1,720 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€51,073 | €18,916 | +€69,989 | |
| Other operating charges | 640/8 | €18,217 | €18,115 | -€102 | -0.6% |
| Non-recurring operating charges | 66A | €291 | €1,121 | +€830 | +285.3% |
| Operating profit (loss) | 9901 | €131,670 | €121,019 | -€10,651 | -8.1% |
| Financial income | 75/76B | €29,053 | €30,797 | +€1,744 | +6.0% |
| Recurring financial income | 75 | €29,053 | €30,797 | +€1,744 | +6.0% |
| Other financial income | 752/9 | €29,053 | €30,797 | +€1,744 | +6.0% |
| Financial charges | 65/66B | €179,758 | €141,061 | -€38,697 | -21.5% |
| Recurring financial charges | 65 | €179,758 | €141,061 | -€38,697 | -21.5% |
| Debt charges | 650 | €151,303 | €110,976 | -€40,327 | -26.7% |
| Other financial charges | 652/9 | €28,455 | €30,085 | +€1,630 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | -€19,036 | €10,755 | +€29,791 | |
| Income taxes | 67/77 | €1,416 | €1,620 | +€204 | +14.4% |
| Taxes | 670/3 | €1,500 | €1,620 | +€120 | +8.0% |
| Tax adjustments and reversals of tax provisions | 77 | €84 | €0 | -€84 | -100.0% |
| Profit (loss) for the period | 9904 | -€20,452 | €9,135 | +€29,587 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,452 | €9,135 | +€29,587 |
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 7 October 2026 via checked.be.