PELBECO: 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.
PELBECO
Largest movements
- Receivables after one year -€1.1m
down €1.1m (-55.5%), from €2.0m to €873,837
- Current investments +€78,465
new in 2025: €78,465
- Cash +€64,473
up €64,473 (+3.2%), from €2.0m to €2.1m
mainly Receivables after one year (+€1.1m) and Other debts (+€237,066)
- Profit (loss) carried forward -€1.5m
down €1.5m (-100.0%), from €1.5m to €0
- Other debts +€237,066
up €237,066 (+881.6%), from €26,891 to €263,957
- Reserves +€207,295
up €207,295 (+126.6%), from €163,794 to €371,089
- Financial income +€59,395
up €59,395 (+26.2%), from €226,800 to €286,195
- Gross operating margin -€21,797
down €21,797 (-82.2%), from €26,525 to €4,728
- Financial charges -€20,468
down €20,468 (-52.8%), from €38,777 to €18,309
of which Non-recurring financial charges: -€38,070
- Taxes +€7,001
up €7,001 (+26.2%), from €26,709 to €33,710
- Other operating charges +€4,416
up €4,416 (+183.7%), from €2,403 to €6,820
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 | €5,183,265 | €4,182,845 | -€1.0m | -19.3% |
| Fixed assets | 21/28 | €1,169,768 | €1,144,978 | -€24,790 | -2.1% |
| Tangible fixed assets | 22/27 | €98,836 | €74,046 | -€24,790 | -25.1% |
| Plant, machinery and equipment | 23 | €5,567 | €3,869 | -€1,697 | -30.5% |
| Furniture and vehicles | 24 | €93,269 | €70,176 | -€23,093 | -24.8% |
| Financial fixed assets | 28 | €1,070,932 | €1,070,932 | = | 0.0% |
| Current assets | 29/58 | €4,013,497 | €3,037,867 | -€975,630 | -24.3% |
| Amounts receivable after more than one year | 29 | €1,962,282 | €873,837 | -€1.1m | -55.5% |
| Other amounts receivable | 291 | €1,962,282 | €873,837 | -€1.1m | -55.5% |
| Amounts receivable within one year | 40/41 | €39,489 | €9,366 | -€30,123 | -76.3% |
| Trade receivables | 40 | €4,949 | €2,508 | -€2,441 | -49.3% |
| Other amounts receivable | 41 | €34,540 | €6,858 | -€27,682 | -80.1% |
| Current investments | 50/53 | - | €78,465 | +€78,465 | |
| Cash at bank and in hand | 54/58 | €2,011,726 | €2,076,199 | +€64,473 | +3.2% |
| Total equity and liabilities | 10/49 | €5,183,265 | €4,182,845 | -€1.0m | -19.3% |
| Equity | 10/15 | €5,116,898 | €3,871,089 | -€1.2m | -24.3% |
| Contributions | 10/11 | €3,500,000 | €3,500,000 | = | 0.0% |
| Reserves | 13 | €163,794 | €371,089 | +€207,295 | +126.6% |
| Distributable reserves | 133 | €163,794 | €371,089 | +€207,295 | +126.6% |
| Profit (loss) carried forward | 14 | €1,453,104 | €0 | -€1.5m | -100.0% |
| Amounts payable | 17/49 | €66,367 | €311,756 | +€245,389 | +369.7% |
| Amounts payable within one year | 42/48 | €66,367 | €311,756 | +€245,389 | +369.7% |
| Trade debts | 44 | €1,550 | €1,425 | -€125 | -8.0% |
| Suppliers | 440/4 | €1,550 | €1,425 | -€125 | -8.0% |
| Advances received on contracts in progress | 46 | €4,931 | €0 | -€4,931 | -100.0% |
| Taxes, remuneration and social security | 45 | €32,995 | €46,374 | +€13,379 | +40.5% |
| Taxes | 450/3 | €32,995 | €46,374 | +€13,379 | +40.5% |
| Other amounts payable | 47/48 | €26,891 | €263,957 | +€237,066 | +881.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,642 | €24,790 | +€3,148 | +14.5% |
| Other operating charges | 640/8 | €2,403 | €6,820 | +€4,416 | +183.7% |
| Gross operating margin | 9900 | €26,525 | €4,728 | -€21,797 | -82.2% |
| Operating profit (loss) | 9901 | €2,479 | -€26,882 | -€29,361 | |
| Financial income | 75/76B | €226,800 | €286,195 | +€59,395 | +26.2% |
| Recurring financial income | 75 | €226,800 | €286,195 | +€59,395 | +26.2% |
| Financial charges | 65/66B | €38,777 | €18,309 | -€20,468 | -52.8% |
| Recurring financial charges | 65 | €707 | €18,309 | +€17,602 | +2490.8% |
| Non-recurring financial charges | 66B | €38,070 | €0 | -€38,070 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €190,502 | €241,005 | +€50,502 | +26.5% |
| Income taxes | 67/77 | €26,709 | €33,710 | +€7,001 | +26.2% |
| Profit (loss) for the period | 9904 | €163,794 | €207,295 | +€43,501 | +26.6% |
| Profit (loss) for the period to be appropriated | 9905 | €163,794 | €207,295 | +€43,501 | +26.6% |
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.