PELGRIMS WILLEM: 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.
PELGRIMS WILLEM
Largest movements
- Receivables within one year +€65,013
up €65,013 (+71.1%), from €91,477 to €156,490
of which Trade receivables: +€66,978
- Stocks and contracts -€26,320
no longer reported in 2025 (was €26,320)
- Tangible fixed assets -€12,967
down €12,967 (-56.1%), from €23,103 to €10,136
of which Plant, machinery and equipment: -€10,230
- Cash -€5,777
down €5,777 (-99.5%), from €5,804 to €26
mainly Receivables within one year (-€65,013) and Net result for the year (-€8,232)
- Other debts +€16,998
up €16,998 (+29.6%), from €57,393 to €74,391
- Trade debts +€10,813
up €10,813 (+25.1%), from €43,051 to €53,864
- Profit (loss) carried forward -€8,232
down €8,232 (-28.6%), from -€28,785 to -€37,017
- Gross operating margin +€15,556
up €15,556, from -€11,944 to €3,611
- Depreciation -€3,960
down €3,960 (-27.8%), from €14,233 to €10,274
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 | €148,366 | €168,344 | +€19,978 | +13.5% |
| Fixed assets | 21/28 | €23,558 | €10,591 | -€12,967 | -55.0% |
| Tangible fixed assets | 22/27 | €23,103 | €10,136 | -€12,967 | -56.1% |
| Plant, machinery and equipment | 23 | €18,735 | €8,506 | -€10,230 | -54.6% |
| Furniture and vehicles | 24 | €4,367 | €1,630 | -€2,737 | -62.7% |
| Financial fixed assets | 28 | €455 | €455 | = | 0.0% |
| Current assets | 29/58 | €124,808 | €157,754 | +€32,946 | +26.4% |
| Stocks and contracts in progress | 3 | €26,320 | - | -€26,320 | |
| Contracts in progress | 37 | €26,320 | - | -€26,320 | |
| Amounts receivable within one year | 40/41 | €91,477 | €156,490 | +€65,013 | +71.1% |
| Trade receivables | 40 | €88,260 | €155,238 | +€66,978 | +75.9% |
| Other amounts receivable | 41 | €3,217 | €1,253 | -€1,965 | -61.1% |
| Cash at bank and in hand | 54/58 | €5,804 | €26 | -€5,777 | -99.5% |
| Deferred charges and accrued income | 490/1 | €1,207 | €1,237 | +€30 | +2.5% |
| Total equity and liabilities | 10/49 | €148,366 | €168,344 | +€19,978 | +13.5% |
| Equity | 10/15 | €47,922 | €39,690 | -€8,232 | -17.2% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Capital | 10 | €30,987 | €30,987 | = | 0.0% |
| Issued capital | 100 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €45,720 | €45,720 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,995 | €4,995 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,896 | €1,896 | = | 0.0% |
| Distributable reserves | 133 | €40,725 | €40,725 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,785 | -€37,017 | -€8,232 | -28.6% |
| Amounts payable | 17/49 | €100,444 | €128,654 | +€28,211 | +28.1% |
| Amounts payable within one year | 42/48 | €100,444 | €128,255 | +€27,811 | +27.7% |
| Trade debts | 44 | €43,051 | €53,864 | +€10,813 | +25.1% |
| Suppliers | 440/4 | €43,051 | €53,864 | +€10,813 | +25.1% |
| Other amounts payable | 47/48 | €57,393 | €74,391 | +€16,998 | +29.6% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Non-recurring operating income | 76A | - | €2,706 | +€2,706 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,233 | €10,274 | -€3,960 | -27.8% |
| Other operating charges | 640/8 | €1,481 | €1,537 | +€56 | +3.7% |
| Gross operating margin | 9900 | -€11,944 | €3,611 | +€15,556 | |
| Operating profit (loss) | 9901 | -€27,659 | -€8,199 | +€19,460 | +70.4% |
| Financial income | 75/76B | €46 | €35 | -€11 | -24.4% |
| Recurring financial income | 75 | €46 | €35 | -€11 | -24.4% |
| Financial charges | 65/66B | €114 | €68 | -€46 | -40.1% |
| Recurring financial charges | 65 | €114 | €68 | -€46 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | -€27,726 | -€8,232 | +€19,494 | +70.3% |
| Profit (loss) for the period | 9904 | -€27,726 | -€8,232 | +€19,494 | +70.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,726 | -€8,232 | +€19,494 | +70.3% |
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 29 October 2026 via checked.be.