PELICAN: 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.
PELICAN
Largest movements
- Tangible fixed assets +€10.4m
up €10.4m (+39.0%), from €26.8m to €37.2m
of which Assets under construction and advance payments: +€11.3m
- Short-term financial debts +€10.1m
up €10.1m (+205.8%), from €4.9m to €15.0m
- Trade debts +€1.0m
up €1.0m (+295.6%), from €352,665 to €1.4m
- Profit (loss) carried forward -€673,228
down €673,228 (-35.0%), from -€1.9m to -€2.6m
- Gross operating margin -€60,915
down €60,915 (-17.5%), from €347,281 to €286,366
- Financial income +€31,484
up €31,484 (+156.5%), from €20,117 to €51,601
- Other operating charges +€15,770
up €15,770 (+9.3%), from €169,285 to €185,054
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,018,672 | €37,599,557 | +€10.6m | +39.2% |
| Fixed assets | 21/28 | €26,768,893 | €37,216,738 | +€10.4m | +39.0% |
| Tangible fixed assets | 22/27 | €26,768,893 | €37,216,738 | +€10.4m | +39.0% |
| Land and buildings | 22 | €20,308,422 | €19,502,548 | -€805,873 | -4.0% |
| Assets under construction and advance payments | 27 | €6,460,471 | €17,714,190 | +€11.3m | +174.2% |
| Current assets | 29/58 | €249,780 | €382,819 | +€133,040 | +53.3% |
| Amounts receivable within one year | 40/41 | €4,522 | €169,795 | +€165,273 | +3654.8% |
| Trade receivables | 40 | €4,522 | €113,257 | +€108,734 | +2404.5% |
| Other amounts receivable | 41 | - | €56,538 | +€56,538 | |
| Cash at bank and in hand | 54/58 | €238,079 | €200,272 | -€37,808 | -15.9% |
| Deferred charges and accrued income | 490/1 | €7,178 | €12,752 | +€5,574 | +77.7% |
| Total equity and liabilities | 10/49 | €27,018,672 | €37,599,557 | +€10.6m | +39.2% |
| Equity | 10/15 | €20,807,333 | €20,134,105 | -€673,228 | -3.2% |
| Contributions | 10/11 | €16,366,885 | €16,366,885 | = | 0.0% |
| Revaluation surpluses | 12 | €6,359,075 | €6,359,075 | = | 0.0% |
| Reserves | 13 | €6,837 | €6,837 | = | 0.0% |
| Distributable reserves | 133 | €6,837 | €6,837 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,925,464 | -€2,598,692 | -€673,228 | -35.0% |
| Amounts payable | 17/49 | €6,211,339 | €17,465,452 | +€11.3m | +181.2% |
| Amounts payable after more than one year | 17 | €928,888 | €1,003,434 | +€74,546 | +8.0% |
| Financial debts | 170/4 | €914,803 | €933,099 | +€18,296 | +2.0% |
| Other amounts payable | 178/9 | €14,085 | €70,335 | +€56,250 | +399.4% |
| Amounts payable within one year | 42/48 | €5,251,644 | €16,370,178 | +€11.1m | +211.7% |
| Financial debts | 43 | €4,897,329 | €14,975,169 | +€10.1m | +205.8% |
| Credit institutions | 430/8 | €4,897,329 | €14,975,169 | +€10.1m | +205.8% |
| Trade debts | 44 | €352,665 | €1,395,009 | +€1.0m | +295.6% |
| Suppliers | 440/4 | €352,665 | €1,395,009 | +€1.0m | +295.6% |
| Taxes, remuneration and social security | 45 | €1,649 | €0 | -€1,649 | -100.0% |
| Taxes | 450/3 | €1,649 | €0 | -€1,649 | -100.0% |
| Accrued charges and deferred income | 492/3 | €30,808 | €91,840 | +€61,032 | +198.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €824,418 | €825,411 | +€993 | +0.1% |
| Other operating charges | 640/8 | €169,285 | €185,054 | +€15,770 | +9.3% |
| Gross operating margin | 9900 | €347,281 | €286,366 | -€60,915 | -17.5% |
| Operating profit (loss) | 9901 | -€646,422 | -€724,099 | -€77,677 | -12.0% |
| Financial income | 75/76B | €20,117 | €51,601 | +€31,484 | +156.5% |
| Recurring financial income | 75 | €20,117 | €51,601 | +€31,484 | +156.5% |
| Financial charges | 65/66B | €315 | €730 | +€414 | +131.6% |
| Recurring financial charges | 65 | €315 | €730 | +€414 | +131.6% |
| Profit (loss) for the period before taxes | 9903 | -€626,620 | -€673,228 | -€46,608 | -7.4% |
| Profit (loss) for the period | 9904 | -€626,620 | -€673,228 | -€46,608 | -7.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€626,620 | -€673,228 | -€46,608 | -7.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.