PEHADE: 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.
PEHADE
Largest movements
- Receivables within one year +€28,368
up €28,368 (+33.7%), from €84,261 to €112,629
of which Trade receivables: +€39,001
- Cash -€10,556
down €10,556 (-40.4%), from €26,111 to €15,555
mainly Contributions, distributions and other (-€94,000) and Receivables within one year (-€28,368)
- Tangible fixed assets -€5,132
down €5,132 (-18.7%), from €27,442 to €22,310
- Deferred charges and accrued income -€2,349
down €2,349 (-36.1%), from €6,505 to €4,156
- Other debts +€25,501
up €25,501 (+52.9%), from €48,227 to €73,727
- Trade debts -€23,210
down €23,210 (-52.9%), from €43,916 to €20,706
- Reserves +€7,799
up €7,799 (+17.8%), from €43,711 to €51,510
- Gross operating margin +€19,250
up €19,250 (+20.1%), from €95,674 to €114,925
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 | €144,319 | €154,650 | +€10,331 | +7.2% |
| Fixed assets | 21/28 | €27,442 | €22,310 | -€5,132 | -18.7% |
| Tangible fixed assets | 22/27 | €27,442 | €22,310 | -€5,132 | -18.7% |
| Plant, machinery and equipment | 23 | €6,868 | €5,256 | -€1,612 | -23.5% |
| Furniture and vehicles | 24 | €7,361 | €5,812 | -€1,548 | -21.0% |
| Other tangible fixed assets | 26 | €13,214 | €11,242 | -€1,972 | -14.9% |
| Current assets | 29/58 | €116,877 | €132,340 | +€15,463 | +13.2% |
| Amounts receivable within one year | 40/41 | €84,261 | €112,629 | +€28,368 | +33.7% |
| Trade receivables | 40 | €72,973 | €111,973 | +€39,001 | +53.4% |
| Other amounts receivable | 41 | €11,288 | €656 | -€10,632 | -94.2% |
| Cash at bank and in hand | 54/58 | €26,111 | €15,555 | -€10,556 | -40.4% |
| Deferred charges and accrued income | 490/1 | €6,505 | €4,156 | -€2,349 | -36.1% |
| Total equity and liabilities | 10/49 | €144,319 | €154,650 | +€10,331 | +7.2% |
| Equity | 10/15 | €49,911 | €57,710 | +€7,799 | +15.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €43,711 | €51,510 | +€7,799 | +17.8% |
| Distributable reserves | 133 | €43,711 | €51,510 | +€7,799 | +17.8% |
| Amounts payable | 17/49 | €94,408 | €96,940 | +€2,532 | +2.7% |
| Amounts payable within one year | 42/48 | €94,408 | €96,940 | +€2,532 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €1,276 | €1,276 | +€0 | 0.0% |
| Trade debts | 44 | €43,916 | €20,706 | -€23,210 | -52.9% |
| Suppliers | 440/4 | €43,916 | €20,706 | -€23,210 | -52.9% |
| Taxes, remuneration and social security | 45 | €989 | €1,230 | +€241 | +24.4% |
| Taxes | 450/3 | €989 | €1,230 | +€241 | +24.4% |
| Other amounts payable | 47/48 | €48,227 | €73,727 | +€25,501 | +52.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,129 | €5,132 | +€1,003 | +24.3% |
| Other operating charges | 640/8 | €1,723 | €1,649 | -€73 | -4.3% |
| Gross operating margin | 9900 | €95,674 | €114,925 | +€19,250 | +20.1% |
| Operating profit (loss) | 9901 | €89,823 | €108,144 | +€18,321 | +20.4% |
| Financial income | 75/76B | €921 | €0 | -€921 | -100.0% |
| Recurring financial income | 75 | €921 | €0 | -€921 | -100.0% |
| Financial charges | 65/66B | €1,074 | €865 | -€209 | -19.5% |
| Recurring financial charges | 65 | €1,074 | €865 | -€209 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €89,670 | €107,279 | +€17,609 | +19.6% |
| Income taxes | 67/77 | €5,167 | €5,480 | +€313 | +6.1% |
| Profit (loss) for the period | 9904 | €84,503 | €101,799 | +€17,296 | +20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €84,503 | €101,799 | +€17,296 | +20.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.