PEDESS: what changed
PEDESS
Largest movements
- Current investments +€43,505
up €43,505 (+33.5%), from €129,995 to €173,500
- Tangible fixed assets +€16,938
up €16,938 (+41.5%), from €40,854 to €57,792
- Reserves +€44,363
up €44,363 (+28.5%), from €155,489 to €199,852
- Tax, wage and social debts +€6,600
up €6,600 (+81.6%), from €8,091 to €14,691
- Trade debts +€4,570
up €4,570 (+37.8%), from €12,094 to €16,664
- Gross operating margin +€23,465
up €23,465 (+39.5%), from €59,425 to €82,890
- Write-downs -€7,634
no longer reported in 2025 (was €7,634)
- Taxes +€5,992
up €5,992 (+59.6%), from €10,047 to €16,039
- Depreciation +€5,224
up €5,224 (+37.8%), from €13,812 to €19,036
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts. So the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €216,881 | €275,059 | +€58,178 | +26.8% |
| Fixed assets | 21/28 | €40,869 | €57,792 | +€16,923 | +41.4% |
| Tangible fixed assets | 22/27 | €40,854 | €57,792 | +€16,938 | +41.5% |
| Furniture and vehicles | 24 | €40,854 | €57,792 | +€16,938 | +41.5% |
| Financial fixed assets | 28 | €15 | - | -€15 | |
| Current assets | 29/58 | €176,012 | €217,267 | +€41,255 | +23.4% |
| Amounts receivable within one year | 40/41 | €40,227 | €37,906 | -€2,321 | -5.8% |
| Trade receivables | 40 | €40,227 | €37,906 | -€2,321 | -5.8% |
| Current investments | 50/53 | €129,995 | €173,500 | +€43,505 | +33.5% |
| Deferred charges and accrued income | 490/1 | €5,790 | €5,861 | +€71 | +1.2% |
| Total equity and liabilities | 10/49 | €216,881 | €275,059 | +€58,178 | +26.8% |
| Equity | 10/15 | €174,089 | €218,452 | +€44,363 | +25.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €155,489 | €199,852 | +€44,363 | +28.5% |
| Distributable reserves | 133 | €155,489 | €199,852 | +€44,363 | +28.5% |
| Amounts payable | 17/49 | €42,792 | €56,607 | +€13,815 | +32.3% |
| Amounts payable within one year | 42/48 | €42,792 | €56,607 | +€13,815 | +32.3% |
| Trade debts | 44 | €12,094 | €16,664 | +€4,570 | +37.8% |
| Suppliers | 440/4 | €12,094 | €16,664 | +€4,570 | +37.8% |
| Taxes, remuneration and social security | 45 | €8,091 | €14,691 | +€6,600 | +81.6% |
| Taxes | 450/3 | €8,091 | €14,691 | +€6,600 | +81.6% |
| Other amounts payable | 47/48 | €22,607 | €25,252 | +€2,645 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,812 | €19,036 | +€5,224 | +37.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,634 | - | -€7,634 | |
| Other operating charges | 640/8 | €2,434 | €2,908 | +€474 | +19.5% |
| Gross operating margin | 9900 | €59,425 | €82,890 | +€23,465 | +39.5% |
| Operating profit (loss) | 9901 | €35,545 | €60,946 | +€25,401 | +71.5% |
| Financial income | 75/76B | €332 | €43 | -€289 | -87.0% |
| Recurring financial income | 75 | €332 | €43 | -€289 | -87.0% |
| Financial charges | 65/66B | €106 | €587 | +€481 | +454% |
| Recurring financial charges | 65 | €106 | €587 | +€481 | +454% |
| Profit (loss) for the period before taxes | 9903 | €35,771 | €60,402 | +€24,631 | +68.9% |
| Income taxes | 67/77 | €10,047 | €16,039 | +€5,992 | +59.6% |
| Profit (loss) for the period | 9904 | €25,724 | €44,363 | +€18,639 | +72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,724 | €44,363 | +€18,639 | +72.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.