PEKABEL: 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.
PEKABEL
Largest movements
- Financial fixed assets -€271,229
down €271,229 (-30.3%), from €896,229 to €625,000
- Cash +€231,101
up €231,101 (+697.8%), from €33,118 to €264,219
mainly Investment in fixed assets (net) (+€271,229) and Receivables within one year (+€136,378)
- Receivables within one year -€136,378
down €136,378 (-99.9%), from €136,579 to €201
of which Trade receivables: -€136,575
- Profit (loss) carried forward -€102,467
down €102,467 (-9.0%), from -€1.1m to -€1.2m
- Other debts -€80,594
down €80,594 (-11.5%), from €700,162 to €619,568
- Gross operating margin -€64,377
down €64,377, from €6,555 to -€57,821
- Financial charges -€14,973
down €14,973 (-25.3%), from €59,149 to €44,176
- Other operating charges -€964
down €964 (-87.0%), from €1,108 to €144
- Financial income +€667
up €667 (+5042.8%), from €13 to €680
- Taxes +€636
no longer reported in 2025 (was -€636)
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 | €1,068,570 | €891,058 | -€177,512 | -16.6% |
| Fixed assets | 21/28 | €898,873 | €626,638 | -€272,235 | -30.3% |
| Tangible fixed assets | 22/27 | €2,644 | €1,638 | -€1,006 | -38.0% |
| Furniture and vehicles | 24 | €2,644 | €1,638 | -€1,006 | -38.0% |
| Financial fixed assets | 28 | €896,229 | €625,000 | -€271,229 | -30.3% |
| Current assets | 29/58 | €169,697 | €264,420 | +€94,723 | +55.8% |
| Amounts receivable within one year | 40/41 | €136,579 | €201 | -€136,378 | -99.9% |
| Trade receivables | 40 | €136,575 | - | -€136,575 | |
| Other amounts receivable | 41 | €4 | €201 | +€197 | +4961.7% |
| Cash at bank and in hand | 54/58 | €33,118 | €264,219 | +€231,101 | +697.8% |
| Total equity and liabilities | 10/49 | €1,068,570 | €891,058 | -€177,512 | -16.6% |
| Equity | 10/15 | €347,135 | €244,668 | -€102,467 | -29.5% |
| Contributions | 10/11 | €1,489,200 | €1,489,200 | = | 0.0% |
| Capital | 10 | €1,489,200 | €1,489,200 | = | 0.0% |
| Issued capital | 100 | €1,489,200 | €1,489,200 | = | 0.0% |
| Reserves | 13 | €2,736 | €2,736 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,736 | €2,736 | = | 0.0% |
| Legal reserve | 130 | €2,736 | €2,736 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,144,801 | -€1,247,268 | -€102,467 | -9.0% |
| Amounts payable | 17/49 | €721,435 | €646,390 | -€75,045 | -10.4% |
| Amounts payable within one year | 42/48 | €721,422 | €646,390 | -€75,032 | -10.4% |
| Trade debts | 44 | €3,683 | - | -€3,683 | |
| Suppliers | 440/4 | €3,683 | - | -€3,683 | |
| Taxes, remuneration and social security | 45 | €17,577 | €26,823 | +€9,245 | +52.6% |
| Taxes | 450/3 | €17,577 | €26,823 | +€9,245 | +52.6% |
| Other amounts payable | 47/48 | €700,162 | €619,568 | -€80,594 | -11.5% |
| Accrued charges and deferred income | 492/3 | €13 | - | -€13 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €374 | €1,006 | +€632 | +169.1% |
| Other operating charges | 640/8 | €1,108 | €144 | -€964 | -87.0% |
| Gross operating margin | 9900 | €6,555 | -€57,821 | -€64,377 | |
| Operating profit (loss) | 9901 | €5,073 | -€58,971 | -€64,045 | |
| Financial income | 75/76B | €13 | €680 | +€667 | +5042.8% |
| Recurring financial income | 75 | €13 | €680 | +€667 | +5042.8% |
| Financial charges | 65/66B | €59,149 | €44,176 | -€14,973 | -25.3% |
| Recurring financial charges | 65 | €59,149 | €44,176 | -€14,973 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | -€54,062 | -€102,467 | -€48,405 | -89.5% |
| Income taxes | 67/77 | -€636 | - | +€636 | |
| Profit (loss) for the period | 9904 | -€53,427 | -€102,467 | -€49,040 | -91.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,427 | -€102,467 | -€49,040 | -91.8% |
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 4 October 2026 via checked.be.