Pelamco: 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.
Pelamco
Largest movements
- Financial fixed assets +€50,000
up €50,000 (+4.8%), from €1.0m to €1.1m
- Tangible fixed assets -€34,089
down €34,089 (-2.5%), from €1.4m to €1.3m
of which Land and buildings: -€35,833
- Other debts +€93,253
up €93,253 (+7.6%), from €1.2m to €1.3m
- Debts after one year -€56,265
down €56,265 (-23.1%), from €243,173 to €186,908
- Gross operating margin -€41,212
down €41,212 (-40.8%), from €100,940 to €59,728
- Taxes -€9,215
down €9,215 (-97.0%), from €9,504 to €289
- Financial income +€5,521
up €5,521 (+43.9%), from €12,589 to €18,110
- Financial charges -€3,139
down €3,139 (-7.2%), from €43,468 to €40,328
of which Financial charges: -€3,139
- Depreciation +€1,241
up €1,241 (+2.5%), from €49,248 to €50,489
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 | €2,767,244 | €2,779,186 | +€11,942 | +0.4% |
| Fixed assets | 21/28 | €2,383,820 | €2,399,731 | +€15,911 | +0.7% |
| Tangible fixed assets | 22/27 | €1,352,185 | €1,318,096 | -€34,089 | -2.5% |
| Land and buildings | 22 | €1,333,677 | €1,297,844 | -€35,833 | -2.7% |
| Furniture and vehicles | 24 | €18,508 | €20,252 | +€1,744 | +9.4% |
| Financial fixed assets | 28 | €1,031,635 | €1,081,635 | +€50,000 | +4.8% |
| Current assets | 29/58 | €383,424 | €379,455 | -€3,969 | -1.0% |
| Amounts receivable within one year | 40/41 | €327,223 | €332,426 | +€5,203 | +1.6% |
| Trade receivables | 40 | €30,444 | €64,459 | +€34,014 | +111.7% |
| Other amounts receivable | 41 | €296,779 | €267,967 | -€28,811 | -9.7% |
| Cash at bank and in hand | 54/58 | €52,565 | €32,895 | -€19,670 | -37.4% |
| Deferred charges and accrued income | 490/1 | €3,635 | €14,134 | +€10,498 | +288.8% |
| Total equity and liabilities | 10/49 | €2,767,244 | €2,779,186 | +€11,942 | +0.4% |
| Equity | 10/15 | €1,181,517 | €1,163,194 | -€18,322 | -1.6% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €184,214 | €184,214 | = | 0.0% |
| Distributable reserves | 133 | €184,214 | €184,214 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,697 | -€21,019 | -€18,322 | -679.4% |
| Amounts payable | 17/49 | €1,585,727 | €1,615,992 | +€30,265 | +1.9% |
| Amounts payable after more than one year | 17 | €243,173 | €186,908 | -€56,265 | -23.1% |
| Financial debts | 170/4 | €243,173 | €186,908 | -€56,265 | -23.1% |
| Amounts payable within one year | 42/48 | €1,306,310 | €1,395,517 | +€89,207 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €55,240 | €56,265 | +€1,025 | +1.9% |
| Trade debts | 44 | €9,289 | €2,726 | -€6,563 | -70.7% |
| Suppliers | 440/4 | €9,289 | €2,726 | -€6,563 | -70.7% |
| Taxes, remuneration and social security | 45 | €12,228 | €13,721 | +€1,492 | +12.2% |
| Taxes | 450/3 | €12,228 | €13,721 | +€1,492 | +12.2% |
| Other amounts payable | 47/48 | €1,229,553 | €1,322,806 | +€93,253 | +7.6% |
| Accrued charges and deferred income | 492/3 | €36,244 | €33,567 | -€2,677 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,248 | €50,489 | +€1,241 | +2.5% |
| Other operating charges | 640/8 | €5,788 | €5,054 | -€734 | -12.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €100,940 | €59,728 | -€41,212 | -40.8% |
| Operating profit (loss) | 9901 | €45,904 | €4,185 | -€41,719 | -90.9% |
| Financial income | 75/76B | €12,589 | €18,110 | +€5,521 | +43.9% |
| Recurring financial income | 75 | €12,589 | €18,110 | +€5,521 | +43.9% |
| Financial charges | 65/66B | €43,468 | €40,328 | -€3,139 | -7.2% |
| Recurring financial charges | 65 | €43,468 | €40,328 | -€3,139 | -7.2% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €15,026 | -€18,033 | -€33,059 | |
| Income taxes | 67/77 | €9,504 | €289 | -€9,215 | -97.0% |
| Profit (loss) for the period | 9904 | €5,522 | -€18,322 | -€23,845 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,522 | -€18,322 | -€23,845 |
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 6 October 2026 via checked.be.