PEKO: 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.
PEKO
Largest movements
- Tangible fixed assets +€394,064
up €394,064 (+32.4%), from €1.2m to €1.6m
- Intangible fixed assets -€77,818
down €77,818 (-10.8%), from €718,643 to €640,825
- Cash -€55,070
down €55,070 (-95.8%), from €57,485 to €2,415
mainly Investment in fixed assets (net) (-€450,565) and Net result for the year (-€143,466)
- Debts after one year +€384,526
up €384,526 (+26.7%), from €1.4m to €1.8m
of which Financial debts: +€449,526
- Reserves -€89,489
down €89,489 (-9.7%), from €926,116 to €836,626
of which Distributable reserves: -€49,148
- Profit (loss) carried forward -€53,977
new in 2025: -€53,977
- Current portion of long-term debt +€38,665
up €38,665 (+171.8%), from €22,504 to €61,168
- Trade debts +€33,715
up €33,715 (+155.4%), from €21,701 to €55,415
- Depreciation +€69,024
up €69,024 (+92.5%), from €74,654 to €143,679
- Financial charges +€43,247
up €43,247 (+844.5%), from €5,121 to €48,369
- Gross operating margin -€9,657
down €9,657 (-23.2%), from €41,660 to €32,003
- Financial income -€550
down €550 (-2.3%), from €23,560 to €23,010
- Other operating charges +€447
up €447 (+2.3%), from €19,430 to €19,877
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 | €3,049,819 | €3,342,794 | +€292,975 | +9.6% |
| Fixed assets | 21/28 | €1,945,478 | €2,252,364 | +€306,887 | +15.8% |
| Intangible fixed assets | 21 | €718,643 | €640,825 | -€77,818 | -10.8% |
| Tangible fixed assets | 22/27 | €1,217,475 | €1,611,539 | +€394,064 | +32.4% |
| Land and buildings | 22 | €1,217,475 | €1,611,539 | +€394,064 | +32.4% |
| Financial fixed assets | 28 | €9,360 | - | -€9,360 | |
| Current assets | 29/58 | €1,104,341 | €1,090,429 | -€13,912 | -1.3% |
| Amounts receivable within one year | 40/41 | €16,106 | €42,219 | +€26,113 | +162.1% |
| Trade receivables | 40 | €2,500 | €33,916 | +€31,416 | +1256.6% |
| Other amounts receivable | 41 | €13,606 | €8,304 | -€5,302 | -39.0% |
| Current investments | 50/53 | €1,029,106 | €1,042,197 | +€13,092 | +1.3% |
| Cash at bank and in hand | 54/58 | €57,485 | €2,415 | -€55,070 | -95.8% |
| Deferred charges and accrued income | 490/1 | €1,644 | €3,597 | +€1,953 | +118.8% |
| Total equity and liabilities | 10/49 | €3,049,819 | €3,342,794 | +€292,975 | +9.6% |
| Equity | 10/15 | €1,169,593 | €1,026,127 | -€143,466 | -12.3% |
| Contributions | 10/11 | €243,477 | €243,477 | = | 0.0% |
| Capital | 10 | €243,000 | €243,000 | = | 0.0% |
| Issued capital | 100 | €243,000 | €243,000 | = | 0.0% |
| Contributions outside capital | 11 | €477 | €477 | = | 0.0% |
| Share premium | 1100/10 | €477 | €477 | = | 0.0% |
| Reserves | 13 | €926,116 | €836,626 | -€89,489 | -9.7% |
| Non-distributable reserves | 130/1 | €24,300 | €24,300 | = | 0.0% |
| Legal reserve | 130 | €24,300 | €24,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €852,667 | €812,326 | -€40,341 | -4.7% |
| Distributable reserves | 133 | €49,148 | - | -€49,148 | |
| Profit (loss) carried forward | 14 | - | -€53,977 | -€53,977 | |
| Provisions and deferred taxes | 16 | €284,222 | €270,775 | -€13,447 | -4.7% |
| Deferred taxes | 168 | €284,222 | €270,775 | -€13,447 | -4.7% |
| Amounts payable | 17/49 | €1,596,004 | €2,045,891 | +€449,888 | +28.2% |
| Amounts payable after more than one year | 17 | €1,438,190 | €1,822,716 | +€384,526 | +26.7% |
| Financial debts | 170/4 | €1,038,190 | €1,487,716 | +€449,526 | +43.3% |
| Other amounts payable | 178/9 | €400,000 | €335,000 | -€65,000 | -16.3% |
| Amounts payable within one year | 42/48 | €157,813 | €202,675 | +€44,862 | +28.4% |
| Current portion of amounts payable after more than one year | 42 | €22,504 | €61,168 | +€38,665 | +171.8% |
| Trade debts | 44 | €21,701 | €55,415 | +€33,715 | +155.4% |
| Suppliers | 440/4 | €21,701 | €55,415 | +€33,715 | +155.4% |
| Other amounts payable | 47/48 | €113,609 | €86,092 | -€27,517 | -24.2% |
| Accrued charges and deferred income | 492/3 | - | €20,500 | +€20,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,654 | €143,679 | +€69,024 | +92.5% |
| Other operating charges | 640/8 | €19,430 | €19,877 | +€447 | +2.3% |
| Gross operating margin | 9900 | €41,660 | €32,003 | -€9,657 | -23.2% |
| Operating profit (loss) | 9901 | -€52,424 | -€131,552 | -€79,128 | -150.9% |
| Financial income | 75/76B | €23,560 | €23,010 | -€550 | -2.3% |
| Recurring financial income | 75 | €23,560 | €23,010 | -€550 | -2.3% |
| Financial charges | 65/66B | €5,121 | €48,369 | +€43,247 | +844.5% |
| Recurring financial charges | 65 | €5,121 | €48,369 | +€43,247 | +844.5% |
| Profit (loss) for the period before taxes | 9903 | -€33,985 | -€156,911 | -€122,925 | -361.7% |
| Transfer from deferred taxes | 780 | €2,455 | €13,447 | +€10,992 | +447.8% |
| Income taxes | 67/77 | €2 | €2 | +€1 | +64.2% |
| Profit (loss) for the period | 9904 | -€31,532 | -€143,466 | -€111,934 | -355.0% |
| Transfer from tax-exempt reserves | 789 | €7,365 | €40,341 | +€32,976 | +447.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,167 | -€103,125 | -€78,958 | -326.7% |
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 9 October 2026 via checked.be.