PEL CONSULT: 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.
PEL CONSULT
Largest movements
- Cash -€76,453
down €76,453 (-43.6%), from €175,478 to €99,024
mainly Contributions, distributions and other (-€108,405) and Other debts (-€52,651)
- Receivables within one year +€23,097
up €23,097 (+84.1%), from €27,464 to €50,561
of which Trade receivables: +€23,281
- Tangible fixed assets -€10,984
down €10,984 (-71.2%), from €15,429 to €4,446
- Deferred charges and accrued income -€2,753
down €2,753 (-13.1%), from €20,947 to €18,194
- Other debts -€52,651
down €52,651 (-39.1%), from €134,504 to €81,853
- Current portion of long-term debt -€15,494
no longer reported in 2025 (was €15,494)
- Debts after one year -€10,459
no longer reported in 2025 (was €10,459)
- Tax, wage and social debts +€7,378
up €7,378 (+13.1%), from €56,345 to €63,723
- Trade debts +€3,012
up €3,012 (+118%), from €2,547 to €5,560
- Gross operating margin +€44,323
up €44,323 (+46.3%), from €95,740 to €140,064
- Depreciation -€19,364
down €19,364 (-92.9%), from €20,854 to €1,490
- Taxes +€13,809
up €13,809 (+90.0%), from €15,339 to €29,148
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 | €249,769 | €180,396 | -€69,373 | -27.8% |
| Fixed assets | 21/28 | €15,528 | €4,544 | -€10,984 | -70.7% |
| Tangible fixed assets | 22/27 | €15,429 | €4,446 | -€10,984 | -71.2% |
| Furniture and vehicles | 24 | €15,429 | €4,446 | -€10,984 | -71.2% |
| Financial fixed assets | 28 | €99 | €99 | = | 0.0% |
| Current assets | 29/58 | €234,241 | €175,852 | -€58,390 | -24.9% |
| Amounts receivable after more than one year | 29 | €10,353 | €8,072 | -€2,281 | -22.0% |
| Other amounts receivable | 291 | €10,353 | €8,072 | -€2,281 | -22.0% |
| Amounts receivable within one year | 40/41 | €27,464 | €50,561 | +€23,097 | +84.1% |
| Trade receivables | 40 | - | €23,281 | +€23,281 | |
| Other amounts receivable | 41 | €27,464 | €27,281 | -€183 | -0.7% |
| Cash at bank and in hand | 54/58 | €175,478 | €99,024 | -€76,453 | -43.6% |
| Deferred charges and accrued income | 490/1 | €20,947 | €18,194 | -€2,753 | -13.1% |
| Total equity and liabilities | 10/49 | €249,769 | €180,396 | -€69,373 | -27.8% |
| Equity | 10/15 | €30,019 | €29,260 | -€759 | -2.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €6,860 | €6,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Other | 1319 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,759 | €10,000 | -€759 | -7.1% |
| Amounts payable | 17/49 | €219,750 | €151,136 | -€68,614 | -31.2% |
| Amounts payable after more than one year | 17 | €10,459 | - | -€10,459 | |
| Financial debts | 170/4 | €10,459 | - | -€10,459 | |
| Amounts payable within one year | 42/48 | €208,891 | €151,136 | -€57,755 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €15,494 | - | -€15,494 | |
| Trade debts | 44 | €2,547 | €5,560 | +€3,012 | +118% |
| Suppliers | 440/4 | €2,547 | €5,560 | +€3,012 | +118% |
| Taxes, remuneration and social security | 45 | €56,345 | €63,723 | +€7,378 | +13.1% |
| Taxes | 450/3 | €56,345 | €63,723 | +€7,378 | +13.1% |
| Other amounts payable | 47/48 | €134,504 | €81,853 | -€52,651 | -39.1% |
| Accrued charges and deferred income | 492/3 | €400 | - | -€400 | |
| Non-recurring operating income | 76A | - | €23,461 | +€23,461 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,854 | €1,490 | -€19,364 | -92.9% |
| Other operating charges | 640/8 | €1,060 | €136 | -€925 | -87.2% |
| Non-recurring operating charges | 66A | €126 | - | -€126 | |
| Gross operating margin | 9900 | €95,740 | €140,064 | +€44,323 | +46.3% |
| Operating profit (loss) | 9901 | €73,700 | €138,438 | +€64,738 | +87.8% |
| Financial income | 75/76B | €1,097 | €185 | -€912 | -83.1% |
| Recurring financial income | 75 | €1,097 | €185 | -€912 | -83.1% |
| Financial charges | 65/66B | €773 | €1,830 | +€1,057 | +137% |
| Recurring financial charges | 65 | €773 | €1,830 | +€1,057 | +137% |
| Profit (loss) for the period before taxes | 9903 | €74,024 | €136,794 | +€62,770 | +84.8% |
| Income taxes | 67/77 | €15,339 | €29,148 | +€13,809 | +90.0% |
| Profit (loss) for the period | 9904 | €58,685 | €107,646 | +€48,961 | +83.4% |
| Profit (loss) for the period to be appropriated | 9905 | €58,685 | €107,646 | +€48,961 | +83.4% |
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 18 October 2026 via checked.be.