PELE: 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.
PELE
Largest movements
- Tangible fixed assets +€48,868
up €48,868 (+124.7%), from €39,193 to €88,061
of which Plant, machinery and equipment: +€51,308
- Receivables within one year -€18,095
down €18,095 (-63.2%), from €28,648 to €10,553
- Cash -€4,256
down €4,256 (-24.2%), from €17,580 to €13,324
mainly Investment in fixed assets (net) (-€68,197) and Trade debts (-€11,457)
- Deferred charges and accrued income -€2,437
down €2,437 (-39.8%), from €6,123 to €3,685
- Reserves +€22,820
up €22,820 (+51.8%), from €44,049 to €66,869
of which Distributable reserves: +€22,820
- Trade debts -€11,457
down €11,457 (-48.1%), from €23,825 to €12,368
- Current portion of long-term debt +€7,451
new in 2025: €7,451
- Debts after one year +€5,129
new in 2025: €5,129
- Gross operating margin +€7,264
up €7,264 (+9.1%), from €80,151 to €87,416
- Taxes +€6,107
up €6,107 (+452.9%), from €1,348 to €7,455
- Staff costs +€5,829
up €5,829 (+22.8%), from €25,595 to €31,424
- Depreciation +€3,323
up €3,323 (+20.8%), from €16,006 to €19,329
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 | €126,217 | €149,870 | +€23,653 | +18.7% |
| Fixed assets | 21/28 | €39,193 | €88,061 | +€48,868 | +124.7% |
| Tangible fixed assets | 22/27 | €39,193 | €88,061 | +€48,868 | +124.7% |
| Land and buildings | 22 | €9,707 | €7,162 | -€2,545 | -26.2% |
| Plant, machinery and equipment | 23 | €26,084 | €77,392 | +€51,308 | +196.7% |
| Furniture and vehicles | 24 | €3,403 | €3,507 | +€104 | +3.1% |
| Current assets | 29/58 | €87,023 | €61,809 | -€25,215 | -29.0% |
| Stocks and contracts in progress | 3 | €34,672 | €34,246 | -€426 | -1.2% |
| Stocks | 30/36 | €34,672 | €34,246 | -€426 | -1.2% |
| Amounts receivable within one year | 40/41 | €28,648 | €10,553 | -€18,095 | -63.2% |
| Trade receivables | 40 | €28,648 | €10,553 | -€18,095 | -63.2% |
| Cash at bank and in hand | 54/58 | €17,580 | €13,324 | -€4,256 | -24.2% |
| Deferred charges and accrued income | 490/1 | €6,123 | €3,685 | -€2,437 | -39.8% |
| Total equity and liabilities | 10/49 | €126,217 | €149,870 | +€23,653 | +18.7% |
| Equity | 10/15 | €62,649 | €85,469 | +€22,820 | +36.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,049 | €66,869 | +€22,820 | +51.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €42,189 | €65,009 | +€22,820 | +54.1% |
| Amounts payable | 17/49 | €63,568 | €64,401 | +€833 | +1.3% |
| Amounts payable after more than one year | 17 | - | €5,129 | +€5,129 | |
| Financial debts | 170/4 | - | €5,129 | +€5,129 | |
| Amounts payable within one year | 42/48 | €63,568 | €59,272 | -€4,296 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | - | €7,451 | +€7,451 | |
| Trade debts | 44 | €23,825 | €12,368 | -€11,457 | -48.1% |
| Suppliers | 440/4 | €23,825 | €12,368 | -€11,457 | -48.1% |
| Taxes, remuneration and social security | 45 | €9,995 | €10,183 | +€188 | +1.9% |
| Taxes | 450/3 | €4,603 | €10,183 | +€5,580 | +121.2% |
| Remuneration and social security | 454/9 | €5,392 | - | -€5,392 | |
| Other amounts payable | 47/48 | €29,748 | €29,271 | -€478 | -1.6% |
| Remuneration, social security and pensions | 62 | €25,595 | €31,424 | +€5,829 | +22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,006 | €19,329 | +€3,323 | +20.8% |
| Other operating charges | 640/8 | €2,189 | €1,950 | -€239 | -10.9% |
| Gross operating margin | 9900 | €80,151 | €87,416 | +€7,264 | +9.1% |
| Operating profit (loss) | 9901 | €36,362 | €34,714 | -€1,649 | -4.5% |
| Financial income | 75/76B | €45 | €4 | -€40 | -90.0% |
| Recurring financial income | 75 | €45 | €4 | -€40 | -90.0% |
| Financial charges | 65/66B | €4,246 | €4,443 | +€197 | +4.6% |
| Recurring financial charges | 65 | €4,246 | €4,443 | +€197 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €32,161 | €30,275 | -€1,886 | -5.9% |
| Income taxes | 67/77 | €1,348 | €7,455 | +€6,107 | +452.9% |
| Profit (loss) for the period | 9904 | €30,813 | €22,820 | -€7,992 | -25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €30,813 | €22,820 | -€7,992 | -25.9% |
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.