PEDRO: 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.
PEDRO
Largest movements
- Tangible fixed assets -€91,794
down €91,794 (-9.1%), from €1.0m to €912,211
of which Land and buildings: -€91,114
- Cash +€14,992
up €14,992 (+213.0%), from €7,040 to €22,032
mainly Depreciation (+€91,794) and Trade debts (+€2,406)
- Debts after one year -€59,205
down €59,205 (-18.3%), from €323,690 to €264,485
- Financial charges +€15,761
up €15,761 (+264.7%), from €5,955 to €21,716
- Depreciation -€15,425
down €15,425 (-14.4%), from €107,220 to €91,794
- Other operating charges -€12,329
down €12,329 (-36.3%), from €33,996 to €21,667
- Gross operating margin +€12,075
up €12,075 (+10.8%), from €112,101 to €124,176
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 | €1,011,656 | €937,572 | -€74,083 | -7.3% |
| Fixed assets | 21/28 | €1,004,005 | €912,211 | -€91,794 | -9.1% |
| Tangible fixed assets | 22/27 | €1,004,005 | €912,211 | -€91,794 | -9.1% |
| Land and buildings | 22 | €1,001,825 | €910,711 | -€91,114 | -9.1% |
| Furniture and vehicles | 24 | €2,180 | €1,500 | -€680 | -31.2% |
| Current assets | 29/58 | €7,651 | €25,362 | +€17,711 | +231.5% |
| Amounts receivable within one year | 40/41 | €611 | €45 | -€565 | -92.6% |
| Trade receivables | 40 | €522 | €0 | -€522 | -100.0% |
| Other amounts receivable | 41 | €89 | €45 | -€44 | -49.0% |
| Cash at bank and in hand | 54/58 | €7,040 | €22,032 | +€14,992 | +213.0% |
| Deferred charges and accrued income | 490/1 | - | €3,284 | +€3,284 | |
| Total equity and liabilities | 10/49 | €1,011,656 | €937,572 | -€74,083 | -7.3% |
| Equity | 10/15 | €341,507 | €334,497 | -€7,010 | -2.1% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €300,167 | €290,473 | -€9,694 | -3.2% |
| Non-distributable reserves | 130/1 | €16,833 | €16,833 | = | 0.0% |
| Legal reserve | 130 | €16,833 | €16,833 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,694 | €0 | -€9,694 | -100.0% |
| Distributable reserves | 133 | €273,640 | €273,640 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,660 | -€30,976 | +€2,684 | +8.0% |
| Provisions and deferred taxes | 16 | €4,992 | €0 | -€4,992 | -100.0% |
| Deferred taxes | 168 | €4,992 | €0 | -€4,992 | -100.0% |
| Amounts payable | 17/49 | €665,158 | €603,075 | -€62,082 | -9.3% |
| Amounts payable after more than one year | 17 | €323,690 | €264,485 | -€59,205 | -18.3% |
| Financial debts | 170/4 | €323,690 | €264,485 | -€59,205 | -18.3% |
| Amounts payable within one year | 42/48 | €322,930 | €322,040 | -€890 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €58,411 | €59,205 | +€795 | +1.4% |
| Trade debts | 44 | €23,394 | €25,799 | +€2,406 | +10.3% |
| Suppliers | 440/4 | €23,394 | €25,799 | +€2,406 | +10.3% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €241,125 | €237,035 | -€4,090 | -1.7% |
| Accrued charges and deferred income | 492/3 | €18,538 | €16,551 | -€1,987 | -10.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,220 | €91,794 | -€15,425 | -14.4% |
| Other operating charges | 640/8 | €33,996 | €21,667 | -€12,329 | -36.3% |
| Gross operating margin | 9900 | €112,101 | €124,176 | +€12,075 | +10.8% |
| Operating profit (loss) | 9901 | -€29,114 | €10,715 | +€39,830 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €5,955 | €21,716 | +€15,761 | +264.7% |
| Recurring financial charges | 65 | €5,955 | €21,716 | +€15,761 | +264.7% |
| Profit (loss) for the period before taxes | 9903 | -€35,069 | -€11,001 | +€24,068 | +68.6% |
| Transfer from deferred taxes | 780 | €4,992 | €4,992 | -€0 | 0.0% |
| Income taxes | 67/77 | €1,379 | €1,000 | -€379 | -27.5% |
| Profit (loss) for the period | 9904 | -€31,456 | -€7,010 | +€24,447 | +77.7% |
| Transfer from tax-exempt reserves | 789 | €9,694 | €9,694 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,763 | €2,684 | +€24,447 |
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 10 October 2026 via checked.be.