PELIKAAN: 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.
What changed
PELIKAAN
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€109,288
2024 · €233,638-€342,926
Equity
€14.5m
2024 · €14.6m-€109,288
Cash
€40,740
2024 · €15,998+€24,742
Balance sheet total
€33.5m
2024 · €34.2m-€676,012
Largest movements
Assets
- Receivables within one year -€3.3m
down €3.3m (-18.6%), from €17.8m to €14.5m
of which Other amounts receivable: -€3.3m
- Receivables after one year +€3.0m
new in 2025: €3.0m
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income -€322,993
down €322,993 (-34.3%), from €940,642 to €617,649
of which Non-recurring financial income: -€230,000
- Gross operating margin -€86,699
down €86,699 (-30.1%), from €288,180 to €201,481
- Financial charges -€34,434
down €34,434 (-4.6%), from €753,749 to €719,315
of which Financial charges: -€321,934
- Staff costs -€26,290
down €26,290 (-31.2%), from €84,210 to €57,920
- Depreciation -€8,117
down €8,117 (-6.9%), from €118,256 to €110,139
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.
Result 2024
€233,638
Gross operating margin
-€86,699
Staff costs
+€26,290
Depreciation
+€8,117
Other operating charges
-€2,097
Financial income
-€322,993
Financial charges
+€34,434
Taxes
+€20
Result 2025
-€109,288
raises the resultlowers the result
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.
From operations
-€276,361
Investment
+€301,103
Financing
€0
Cash 2024
€15,998
From operations (derived)
-€276,361
Net result for the year
-€109,288
Depreciation
+€110,139
Receivables after one year
-€3.0m
Receivables within one year
+€3.3m
Deferred charges and accrued income
-€24,935
Trade debts
-€2,496
Tax, wage and social debts
-€12,920
Other debts
-€222,133
Accrued charges and deferred income
-€329,175
Investment (derived)
+€301,103
Investment in fixed assets (net)
+€316,086
Current investments
-€14,983
Cash 2025
€40,740
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €34,150,478 | €33,474,467 | -€676,012 | -2.0% |
| Fixed assets | 21/28 | €16,036,429 | €15,610,204 | -€426,225 | -2.7% |
| Tangible fixed assets | 22/27 | €3,294,836 | €3,184,697 | -€110,139 | -3.3% |
| Land and buildings | 22 | €3,289,520 | €3,181,174 | -€108,346 | -3.3% |
| Furniture and vehicles | 24 | €5,316 | €3,523 | -€1,793 | -33.7% |
| Financial fixed assets | 28 | €12,741,593 | €12,425,507 | -€316,086 | -2.5% |
| Current assets | 29/58 | €18,114,049 | €17,864,263 | -€249,787 | -1.4% |
| Amounts receivable after more than one year | 29 | - | €3,000,000 | +€3.0m | |
| Other amounts receivable | 291 | - | €3,000,000 | +€3.0m | |
| Amounts receivable within one year | 40/41 | €17,844,853 | €14,530,406 | -€3.3m | -18.6% |
| Trade receivables | 40 | €5,142 | €5,881 | +€739 | +14.4% |
| Other amounts receivable | 41 | €17,839,711 | €14,524,525 | -€3.3m | -18.6% |
| Current investments | 50/53 | €2,039 | €17,022 | +€14,983 | +735% |
| Cash at bank and in hand | 54/58 | €15,998 | €40,740 | +€24,742 | +155% |
| Deferred charges and accrued income | 490/1 | €251,159 | €276,094 | +€24,935 | +9.9% |
| Total equity and liabilities | 10/49 | €34,150,478 | €33,474,467 | -€676,012 | -2.0% |
| Equity | 10/15 | €14,617,569 | €14,508,281 | -€109,288 | -0.7% |
| Contributions | 10/11 | €15,818,202 | €15,818,202 | = | 0.0% |
| Capital | 10 | €15,818,202 | €15,818,202 | = | 0.0% |
| Issued capital | 100 | €15,818,202 | €15,818,202 | = | 0.0% |
| Reserves | 13 | €1,259,147 | €1,256,820 | -€2,327 | -0.2% |
| Non-distributable reserves | 130/1 | €1,256,820 | €1,256,820 | = | 0.0% |
| Legal reserve | 130 | €1,256,820 | €1,256,820 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,327 | €0 | -€2,327 | -100% |
| Profit (loss) carried forward | 14 | -€2,459,780 | -€2,566,741 | -€106,961 | -4.3% |
| Amounts payable | 17/49 | €19,532,909 | €18,966,185 | -€566,724 | -2.9% |
| Amounts payable after more than one year | 17 | €51,650 | €51,650 | = | 0.0% |
| Financial debts | 170/4 | €51,650 | €51,650 | = | 0.0% |
| Amounts payable within one year | 42/48 | €18,972,805 | €18,735,256 | -€237,549 | -1.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €10,856 | €8,360 | -€2,496 | -23.0% |
| Suppliers | 440/4 | €10,856 | €8,360 | -€2,496 | -23.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €23,882 | €10,961 | -€12,920 | -54.1% |
| Taxes | 450/3 | €12,792 | €1,860 | -€10,932 | -85.5% |
| Remuneration and social security | 454/9 | €11,090 | €9,101 | -€1,989 | -17.9% |
| Other amounts payable | 47/48 | €18,938,067 | €18,715,934 | -€222,133 | -1.2% |
| Accrued charges and deferred income | 492/3 | €508,454 | €179,279 | -€329,175 | -64.7% |
| Remuneration, social security and pensions | 62 | €84,210 | €57,920 | -€26,290 | -31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,256 | €110,139 | -€8,117 | -6.9% |
| Other operating charges | 640/8 | €38,497 | €40,594 | +€2,097 | +5.4% |
| Gross operating margin | 9900 | €288,180 | €201,481 | -€86,699 | -30.1% |
| Operating profit (loss) | 9901 | €47,217 | -€7,171 | -€54,388 | |
| Financial income | 75/76B | €940,642 | €617,649 | -€322,993 | -34.3% |
| Recurring financial income | 75 | €710,642 | €617,649 | -€92,993 | -13.1% |
| Non-recurring financial income | 76B | €230,000 | €0 | -€230,000 | -100% |
| Financial charges | 65/66B | €753,749 | €719,315 | -€34,434 | -4.6% |
| Recurring financial charges | 65 | €753,749 | €431,815 | -€321,934 | -42.7% |
| Non-recurring financial charges | 66B | - | €287,500 | +€287,500 | |
| Profit (loss) for the period before taxes | 9903 | €234,110 | -€108,837 | -€342,947 | |
| Income taxes | 67/77 | €471 | €451 | -€20 | -4.3% |
| Profit (loss) for the period | 9904 | €233,638 | -€109,288 | -€342,926 | |
| Transfer from tax-exempt reserves | 789 | - | €2,327 | +€2,327 | |
| Profit (loss) for the period to be appropriated | 9905 | €233,638 | -€106,961 | -€340,599 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.