PEJATI: 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.
PEJATI
Largest movements
- Stocks and contracts +€730,148
up €730,148 (+142%), from €514,668 to €1.2m
- Receivables within one year -€205,551
down €205,551 (-95.2%), from €215,998 to €10,446
of which Trade receivables: -€205,180
- Cash -€158,794
down €158,794 (-22.1%), from €718,130 to €559,336
mainly Contributions, distributions and other (-€1.3m) and Stocks and contracts (-€730,148)
- Intangible fixed assets +€23,959
new in 2025: €23,959
- Other debts +€570,790
up €570,790 (+228%), from €250,149 to €820,939
- Reserves -€232,343
down €232,343 (-17.6%), from €1.3m to €1.1m
- Tax, wage and social debts +€35,299
up €35,299 (+32.1%), from €109,845 to €145,145
of which Taxes: +€38,611
- Gross operating margin +€512,730
up €512,730 (+43.4%), from €1.2m to €1.7m
- Taxes +€240,715
up €240,715 (+89.3%), from €269,589 to €510,304
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 | €1,853,376 | €2,228,937 | +€375,561 | +20.3% |
| Fixed assets | 21/28 | €380,068 | €395,232 | +€15,164 | +4.0% |
| Intangible fixed assets | 21 | - | €23,959 | +€23,959 | |
| Tangible fixed assets | 22/27 | €380,068 | €371,273 | -€8,795 | -2.3% |
| Land and buildings | 22 | €338,794 | €320,429 | -€18,365 | -5.4% |
| Plant, machinery and equipment | 23 | €33,874 | €44,463 | +€10,589 | +31.3% |
| Furniture and vehicles | 24 | €7,400 | €6,382 | -€1,019 | -13.8% |
| Current assets | 29/58 | €1,473,308 | €1,833,705 | +€360,397 | +24.5% |
| Stocks and contracts in progress | 3 | €514,668 | €1,244,816 | +€730,148 | +142% |
| Stocks | 30/36 | €514,668 | €1,244,816 | +€730,148 | +142% |
| Amounts receivable within one year | 40/41 | €215,998 | €10,446 | -€205,551 | -95.2% |
| Trade receivables | 40 | €205,180 | - | -€205,180 | |
| Other amounts receivable | 41 | €10,818 | €10,446 | -€372 | -3.4% |
| Cash at bank and in hand | 54/58 | €718,130 | €559,336 | -€158,794 | -22.1% |
| Deferred charges and accrued income | 490/1 | €24,512 | €19,107 | -€5,405 | -22.1% |
| Total equity and liabilities | 10/49 | €1,853,376 | €2,228,937 | +€375,561 | +20.3% |
| Equity | 10/15 | €1,339,472 | €1,107,129 | -€232,343 | -17.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,320,872 | €1,088,529 | -€232,343 | -17.6% |
| Distributable reserves | 133 | €1,320,872 | €1,088,529 | -€232,343 | -17.6% |
| Amounts payable | 17/49 | €513,904 | €1,121,808 | +€607,904 | +118% |
| Amounts payable after more than one year | 17 | €79,428 | €67,559 | -€11,869 | -14.9% |
| Financial debts | 170/4 | €79,428 | €67,559 | -€11,869 | -14.9% |
| Amounts payable within one year | 42/48 | €433,653 | €1,054,152 | +€620,499 | +143% |
| Current portion of amounts payable after more than one year | 42 | €68,919 | €68,894 | -€25 | 0.0% |
| Trade debts | 44 | €4,740 | €19,174 | +€14,434 | +305% |
| Suppliers | 440/4 | €4,740 | €19,174 | +€14,434 | +305% |
| Taxes, remuneration and social security | 45 | €109,845 | €145,145 | +€35,299 | +32.1% |
| Taxes | 450/3 | €99,906 | €138,517 | +€38,611 | +38.6% |
| Remuneration and social security | 454/9 | €9,939 | €6,628 | -€3,311 | -33.3% |
| Other amounts payable | 47/48 | €250,149 | €820,939 | +€570,790 | +228% |
| Accrued charges and deferred income | 492/3 | €822 | €97 | -€725 | -88.2% |
| Remuneration, social security and pensions | 62 | €59,344 | €51,018 | -€8,327 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,913 | €37,171 | +€5,258 | +16.5% |
| Other operating charges | 640/8 | €6,109 | €3,436 | -€2,673 | -43.8% |
| Gross operating margin | 9900 | €1,181,675 | €1,694,405 | +€512,730 | +43.4% |
| Operating profit (loss) | 9901 | €1,084,309 | €1,602,781 | +€518,472 | +47.8% |
| Financial income | 75/76B | €14 | €15 | +€1 | +9.9% |
| Recurring financial income | 75 | €14 | €15 | +€1 | +9.9% |
| Financial charges | 65/66B | €6,270 | €3,964 | -€2,307 | -36.8% |
| Recurring financial charges | 65 | €6,270 | €3,964 | -€2,307 | -36.8% |
| Profit (loss) for the period before taxes | 9903 | €1,078,053 | €1,598,833 | +€520,780 | +48.3% |
| Income taxes | 67/77 | €269,589 | €510,304 | +€240,715 | +89.3% |
| Profit (loss) for the period | 9904 | €808,464 | €1,088,529 | +€280,065 | +34.6% |
| Profit (loss) for the period to be appropriated | 9905 | €808,464 | €1,088,529 | +€280,065 | +34.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.