PEHI: 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.
PEHI
Largest movements
- Tangible fixed assets -€18,046
down €18,046 (-5.2%), from €344,587 to €326,541
- Receivables within one year +€4,538
up €4,538 (+29.4%), from €15,428 to €19,965
of which Trade receivables: +€4,538
- Debts after one year -€29,094
down €29,094 (-18.8%), from €155,129 to €126,034
- Profit (loss) carried forward +€15,123
up €15,123 (+21.4%), from -€70,505 to -€55,382
- Gross operating margin +€3,729
up €3,729 (+8.3%), from €44,899 to €48,628
- Financial charges -€794
down €794 (-7.6%), from €10,519 to €9,724
of which Financial charges: -€794
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 | €369,408 | €354,727 | -€14,681 | -4.0% |
| Fixed assets | 21/28 | €344,587 | €326,541 | -€18,046 | -5.2% |
| Tangible fixed assets | 22/27 | €344,587 | €326,541 | -€18,046 | -5.2% |
| Land and buildings | 22 | €344,587 | €326,541 | -€18,046 | -5.2% |
| Current assets | 29/58 | €24,821 | €28,186 | +€3,365 | +13.6% |
| Amounts receivable within one year | 40/41 | €15,428 | €19,965 | +€4,538 | +29.4% |
| Trade receivables | 40 | €15,428 | €19,965 | +€4,538 | +29.4% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €8,046 | €6,821 | -€1,225 | -15.2% |
| Deferred charges and accrued income | 490/1 | €1,347 | €1,401 | +€53 | +3.9% |
| Total equity and liabilities | 10/49 | €369,408 | €354,727 | -€14,681 | -4.0% |
| Equity | 10/15 | €44,995 | €60,118 | +€15,123 | +33.6% |
| Contributions | 10/11 | €105,000 | €105,000 | = | 0.0% |
| Reserves | 13 | €10,500 | €10,500 | = | 0.0% |
| Distributable reserves | 133 | €10,500 | €10,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,505 | -€55,382 | +€15,123 | +21.4% |
| Amounts payable | 17/49 | €324,413 | €294,609 | -€29,804 | -9.2% |
| Amounts payable after more than one year | 17 | €155,129 | €126,034 | -€29,094 | -18.8% |
| Financial debts | 170/4 | €155,129 | €126,034 | -€29,094 | -18.8% |
| Amounts payable within one year | 42/48 | €169,284 | €168,575 | -€710 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €28,430 | €29,094 | +€665 | +2.3% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,302 | €2,454 | -€848 | -25.7% |
| Taxes | 450/3 | €3,302 | €2,454 | -€848 | -25.7% |
| Other amounts payable | 47/48 | €137,553 | €137,027 | -€527 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,070 | €18,046 | -€24 | -0.1% |
| Other operating charges | 640/8 | €5,549 | €5,558 | +€9 | +0.2% |
| Gross operating margin | 9900 | €44,899 | €48,628 | +€3,729 | +8.3% |
| Operating profit (loss) | 9901 | €21,280 | €25,024 | +€3,743 | +17.6% |
| Financial charges | 65/66B | €10,519 | €9,724 | -€794 | -7.6% |
| Recurring financial charges | 65 | €10,519 | €9,724 | -€794 | -7.6% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €10,762 | €15,299 | +€4,538 | +42.2% |
| Income taxes | 67/77 | €174 | €176 | +€2 | +1.0% |
| Profit (loss) for the period | 9904 | €10,587 | €15,123 | +€4,536 | +42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,587 | €15,123 | +€4,536 | +42.8% |
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 15 October 2026 via checked.be.