PEJO: what changed
Two fiscal 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.
PEJO
Largest movements
- Cash +€226,610
up €226,610 (+234.1%), from €96,783 to €323,393
mainly Current investments (+€200,000) and Depreciation (+€82,963)
- Current investments -€200,000
down €200,000 (-100.0%), from €200,000 to €0
- Tangible fixed assets -€82,963
down €82,963 (-15.4%), from €539,202 to €456,239
of which Plant, machinery and equipment: -€58,770
- Other debts -€78,120
down €78,120 (-20.7%), from €378,031 to €299,911
- Reserves +€49,506
up €49,506 (+11.4%), from €433,348 to €482,854
- Contributions -€18,500
down €18,500 (-99.5%), from €18,600 to €100
- Gross operating margin -€19,745
down €19,745 (-10.6%), from €185,886 to €166,140
- Taxes -€6,358
down €6,358 (-39.1%), from €16,267 to €9,909
- Financial charges +€5,790
up €5,790 (+39.6%), from €14,620 to €20,410
- Depreciation -€3,479
down €3,479 (-4.0%), from €86,442 to €82,963
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 | €866,010 | €814,304 | -€51,705 | -6.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €539,202 | €456,239 | -€82,963 | -15.4% |
| Tangible fixed assets | 22/27 | €539,202 | €456,239 | -€82,963 | -15.4% |
| Land and buildings | 22 | €272,884 | €248,691 | -€24,193 | -8.9% |
| Plant, machinery and equipment | 23 | €266,318 | €207,548 | -€58,770 | -22.1% |
| Current assets | 29/58 | €326,808 | €358,065 | +€31,258 | +9.6% |
| Amounts receivable within one year | 40/41 | €28,622 | €31,203 | +€2,582 | +9.0% |
| Trade receivables | 40 | €28,622 | €31,114 | +€2,492 | +8.7% |
| Other amounts receivable | 41 | - | €89 | +€89 | |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €96,783 | €323,393 | +€226,610 | +234.1% |
| Deferred charges and accrued income | 490/1 | €1,403 | €3,469 | +€2,066 | +147.2% |
| Total equity and liabilities | 10/49 | €866,010 | €814,304 | -€51,705 | -6.0% |
| Equity | 10/15 | €453,095 | €484,101 | +€31,006 | +6.8% |
| Contributions | 10/11 | €18,600 | €100 | -€18,500 | -99.5% |
| Reserves | 13 | €433,348 | €482,854 | +€49,506 | +11.4% |
| Distributable reserves | 133 | €433,348 | €482,854 | +€49,506 | +11.4% |
| Profit (loss) carried forward | 14 | €1,147 | €1,147 | = | 0.0% |
| Amounts payable | 17/49 | €412,915 | €330,204 | -€82,711 | -20.0% |
| Amounts payable within one year | 42/48 | €410,415 | €327,704 | -€82,711 | -20.2% |
| Trade debts | 44 | €18,860 | €18,252 | -€609 | -3.2% |
| Suppliers | 440/4 | €18,860 | €18,252 | -€609 | -3.2% |
| Taxes, remuneration and social security | 45 | €13,524 | €9,541 | -€3,983 | -29.5% |
| Taxes | 450/3 | €13,524 | €9,541 | -€3,983 | -29.5% |
| Other amounts payable | 47/48 | €378,031 | €299,911 | -€78,120 | -20.7% |
| Accrued charges and deferred income | 492/3 | €2,500 | €2,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,442 | €82,963 | -€3,479 | -4.0% |
| Other operating charges | 640/8 | €4,169 | €4,257 | +€88 | +2.1% |
| Gross operating margin | 9900 | €185,886 | €166,140 | -€19,745 | -10.6% |
| Operating profit (loss) | 9901 | €95,274 | €78,920 | -€16,355 | -17.2% |
| Financial income | 75/76B | €1,694 | €905 | -€789 | -46.6% |
| Recurring financial income | 75 | €1,694 | €905 | -€789 | -46.6% |
| Financial charges | 65/66B | €14,620 | €20,410 | +€5,790 | +39.6% |
| Recurring financial charges | 65 | €14,620 | €20,410 | +€5,790 | +39.6% |
| Profit (loss) for the period before taxes | 9903 | €82,349 | €59,415 | -€22,934 | -27.8% |
| Income taxes | 67/77 | €16,267 | €9,909 | -€6,358 | -39.1% |
| Profit (loss) for the period | 9904 | €66,082 | €49,506 | -€16,576 | -25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €66,082 | €49,506 | -€16,576 | -25.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.