PELICAN GRACE: 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.
PELICAN GRACE
Largest movements
- Receivables within one year +€3,788
up €3,788 (+162%), from €2,333 to €6,121
of which Other amounts receivable: +€2,694
- Cash -€2,549
down €2,549 (-48.4%), from €5,267 to €2,718
mainly Receivables within one year (-€3,788) and Net result for the year (-€586)
- Tangible fixed assets -€2,388
down €2,388 (-64.8%), from €3,686 to €1,298
of which Furniture and vehicles: -€1,586
- Profit (loss) carried forward -€586
down €586 (-3.1%), from -€18,847 to -€19,433
- Tax, wage and social debts -€422
down €422 (-92.8%), from €455 to €33
- Trade debts -€140
down €140 (-31.9%), from €440 to €300
- Gross operating margin -€2,574
down €2,574 (-52.3%), from €4,921 to €2,346
- Depreciation -€1,193
down €1,193 (-33.3%), from €3,581 to €2,388
- Other operating charges -€640
down €640 (-55.5%), from €1,154 to €514
- Financial income +€123
up €123 (+581%), from €21 to €144
- Financial charges +€78
up €78 (+80.7%), from €96 to €174
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 | €11,286 | €10,137 | -€1,149 | -10.2% |
| Fixed assets | 21/28 | €3,686 | €1,298 | -€2,388 | -64.8% |
| Tangible fixed assets | 22/27 | €3,686 | €1,298 | -€2,388 | -64.8% |
| Plant, machinery and equipment | 23 | €802 | - | -€802 | |
| Furniture and vehicles | 24 | €2,884 | €1,298 | -€1,586 | -55.0% |
| Current assets | 29/58 | €7,600 | €8,839 | +€1,240 | +16.3% |
| Amounts receivable within one year | 40/41 | €2,333 | €6,121 | +€3,788 | +162% |
| Trade receivables | 40 | €1,035 | €2,129 | +€1,094 | +106% |
| Other amounts receivable | 41 | €1,298 | €3,993 | +€2,694 | +208% |
| Cash at bank and in hand | 54/58 | €5,267 | €2,718 | -€2,549 | -48.4% |
| Total equity and liabilities | 10/49 | €11,286 | €10,137 | -€1,149 | -10.2% |
| Equity | 10/15 | €10,390 | €9,804 | -€586 | -5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,637 | €10,637 | = | 0.0% |
| Distributable reserves | 133 | €10,637 | €10,637 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,847 | -€19,433 | -€586 | -3.1% |
| Amounts payable | 17/49 | €895 | €333 | -€563 | -62.8% |
| Amounts payable within one year | 42/48 | €895 | €333 | -€563 | -62.8% |
| Trade debts | 44 | €440 | €300 | -€140 | -31.9% |
| Suppliers | 440/4 | €440 | €300 | -€140 | -31.9% |
| Taxes, remuneration and social security | 45 | €455 | €33 | -€422 | -92.8% |
| Taxes | 450/3 | €455 | €33 | -€422 | -92.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,581 | €2,388 | -€1,193 | -33.3% |
| Other operating charges | 640/8 | €1,154 | €514 | -€640 | -55.5% |
| Gross operating margin | 9900 | €4,921 | €2,346 | -€2,574 | -52.3% |
| Operating profit (loss) | 9901 | €186 | -€556 | -€741 | |
| Financial income | 75/76B | €21 | €144 | +€123 | +581% |
| Recurring financial income | 75 | €21 | €144 | +€123 | +581% |
| Financial charges | 65/66B | €96 | €174 | +€78 | +80.7% |
| Recurring financial charges | 65 | €96 | €174 | +€78 | +80.7% |
| Profit (loss) for the period before taxes | 9903 | €110 | -€586 | -€696 | |
| Profit (loss) for the period | 9904 | €110 | -€586 | -€696 | |
| Profit (loss) for the period to be appropriated | 9905 | €110 | -€586 | -€696 |
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 19 October 2026 via checked.be.