Peko: 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.
Peko
Largest movements
- Receivables within one year -€169,737
down €169,737 (-57.8%), from €293,876 to €124,140
of which Trade receivables: -€176,273
- Cash +€43,357
up €43,357 (+16.3%), from €266,457 to €309,814
mainly Receivables within one year (+€169,737) and Net result for the year (+€130,948)
- Tangible fixed assets -€34,546
down €34,546 (-3.5%), from €992,171 to €957,626
of which Plant, machinery and equipment: -€45,256
- Trade debts -€228,930
down €228,930 (-42.0%), from €544,458 to €315,528
- Short-term financial debts -€65,000
no longer reported in 2025 (was €65,000)
- Tax, wage and social debts +€51,005
up €51,005 (+65.2%), from €78,244 to €129,248
of which Taxes: +€76,925
- Other debts +€40,674
up €40,674 (+53.6%), from €75,924 to €116,597
- Investment grants +€36,998
up €36,998 (+201.6%), from €18,351 to €55,349
- Staff costs -€58,885
down €58,885 (-26.2%), from €225,113 to €166,228
- Gross operating margin +€25,873
up €25,873 (+5.4%), from €480,749 to €506,623
- Depreciation -€25,767
down €25,767 (-26.0%), from €99,215 to €73,448
- Taxes +€25,495
up €25,495 (+81.9%), from €31,113 to €56,608
- Other operating charges +€6,980
up €6,980 (+13.1%), from €53,477 to €60,457
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 | €1,581,826 | €1,406,449 | -€175,377 | -11.1% |
| Fixed assets | 21/28 | €992,470 | €957,750 | -€34,721 | -3.5% |
| Intangible fixed assets | 21 | €175 | - | -€175 | |
| Tangible fixed assets | 22/27 | €992,171 | €957,626 | -€34,546 | -3.5% |
| Land and buildings | 22 | €843,652 | €822,486 | -€21,166 | -2.5% |
| Plant, machinery and equipment | 23 | €124,412 | €79,156 | -€45,256 | -36.4% |
| Furniture and vehicles | 24 | €24,107 | €10,323 | -€13,784 | -57.2% |
| Assets under construction and advance payments | 27 | - | €45,661 | +€45,661 | |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €589,356 | €448,699 | -€140,656 | -23.9% |
| Amounts receivable within one year | 40/41 | €293,876 | €124,140 | -€169,737 | -57.8% |
| Trade receivables | 40 | €269,920 | €93,647 | -€176,273 | -65.3% |
| Other amounts receivable | 41 | €23,956 | €30,492 | +€6,536 | +27.3% |
| Current investments | 50/53 | €4,985 | - | -€4,985 | |
| Cash at bank and in hand | 54/58 | €266,457 | €309,814 | +€43,357 | +16.3% |
| Deferred charges and accrued income | 490/1 | €24,037 | €14,746 | -€9,291 | -38.7% |
| Total equity and liabilities | 10/49 | €1,581,826 | €1,406,449 | -€175,377 | -11.1% |
| Equity | 10/15 | €589,222 | €614,168 | +€24,946 | +4.2% |
| Contributions | 10/11 | €6,061 | €6,061 | = | 0.0% |
| Reserves | 13 | €245,142 | €228,174 | -€16,968 | -6.9% |
| Non-distributable reserves | 130/1 | €30,303 | €30,303 | = | 0.0% |
| Reserves not available under the articles | 1311 | €30,303 | €30,303 | = | 0.0% |
| Tax-exempt reserves | 132 | €181,879 | €164,911 | -€16,968 | -9.3% |
| Distributable reserves | 133 | €32,960 | €32,960 | = | 0.0% |
| Profit (loss) carried forward | 14 | €319,668 | €324,584 | +€4,915 | +1.5% |
| Investment grants | 15 | €18,351 | €55,349 | +€36,998 | +201.6% |
| Provisions and deferred taxes | 16 | €62,496 | €56,840 | -€5,656 | -9.1% |
| Deferred taxes | 168 | €62,496 | €56,840 | -€5,656 | -9.1% |
| Amounts payable | 17/49 | €930,108 | €735,442 | -€194,667 | -20.9% |
| Amounts payable after more than one year | 17 | €127,635 | €113,321 | -€14,314 | -11.2% |
| Financial debts | 170/4 | €127,635 | €113,321 | -€14,314 | -11.2% |
| Amounts payable within one year | 42/48 | €777,939 | €602,121 | -€175,819 | -22.6% |
| Current portion of amounts payable after more than one year | 42 | €14,314 | €14,314 | = | 0.0% |
| Financial debts | 43 | €65,000 | - | -€65,000 | |
| Credit institutions | 430/8 | €65,000 | - | -€65,000 | |
| Trade debts | 44 | €544,458 | €315,528 | -€228,930 | -42.0% |
| Suppliers | 440/4 | €544,458 | €315,528 | -€228,930 | -42.0% |
| Advances received on contracts in progress | 46 | - | €26,433 | +€26,433 | |
| Taxes, remuneration and social security | 45 | €78,244 | €129,248 | +€51,005 | +65.2% |
| Taxes | 450/3 | €36,857 | €113,782 | +€76,925 | +208.7% |
| Remuneration and social security | 454/9 | €41,387 | €15,466 | -€25,920 | -62.6% |
| Other amounts payable | 47/48 | €75,924 | €116,597 | +€40,674 | +53.6% |
| Accrued charges and deferred income | 492/3 | €24,534 | €20,000 | -€4,534 | -18.5% |
| Remuneration, social security and pensions | 62 | €225,113 | €166,228 | -€58,885 | -26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,215 | €73,448 | -€25,767 | -26.0% |
| Other operating charges | 640/8 | €53,477 | €60,457 | +€6,980 | +13.1% |
| Non-recurring operating charges | 66A | €6,255 | €25,425 | +€19,170 | +306.5% |
| Gross operating margin | 9900 | €480,749 | €506,623 | +€25,873 | +5.4% |
| Operating profit (loss) | 9901 | €96,689 | €181,064 | +€84,375 | +87.3% |
| Financial income | 75/76B | €4,003 | €9,449 | +€5,446 | +136.1% |
| Recurring financial income | 75 | €4,003 | €9,449 | +€5,446 | +136.1% |
| Financial charges | 65/66B | €13,003 | €8,614 | -€4,389 | -33.8% |
| Recurring financial charges | 65 | €13,003 | €8,614 | -€4,389 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €87,689 | €181,899 | +€94,211 | +107.4% |
| Transfer from deferred taxes | 780 | €5,656 | €5,656 | = | 0.0% |
| Income taxes | 67/77 | €31,113 | €56,608 | +€25,495 | +81.9% |
| Profit (loss) for the period | 9904 | €62,232 | €130,948 | +€68,716 | +110.4% |
| Transfer from tax-exempt reserves | 789 | €16,968 | €16,968 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €79,199 | €147,915 | +€68,716 | +86.8% |
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 3 October 2026 via checked.be.