Pelina: 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.
Pelina
Largest movements
- Cash -€61,581
down €61,581 (-93.0%), from €66,200 to €4,619
mainly Contributions, distributions and other (-€251,000) and Receivables within one year (-€36,044)
- Receivables within one year +€36,044
up €36,044 (+68.0%), from €53,000 to €89,044
of which Trade receivables: +€22,285
- Financial fixed assets +€35,654
up €35,654 (+11.1%), from €321,238 to €356,892
- Tangible fixed assets -€33,048
down €33,048 (-19.1%), from €173,384 to €140,336
of which Furniture and vehicles: -€30,042
- Profit (loss) carried forward -€120,829
down €120,829 (-48.0%), from €251,593 to €130,765
- Other debts +€106,206
up €106,206 (+92.5%), from €114,769 to €220,975
- Gross operating margin -€29,690
down €29,690 (-14.7%), from €201,443 to €171,753
- Financial income +€16,175
up €16,175 (+88.0%), from €18,387 to €34,562
- Depreciation +€11,919
up €11,919 (+56.4%), from €21,130 to €33,048
- Taxes -€4,191
down €4,191 (-9.2%), from €45,516 to €41,325
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 | €613,822 | €590,891 | -€22,931 | -3.7% |
| Fixed assets | 21/28 | €494,622 | €497,227 | +€2,606 | +0.5% |
| Tangible fixed assets | 22/27 | €173,384 | €140,336 | -€33,048 | -19.1% |
| Plant, machinery and equipment | 23 | €23,552 | €21,006 | -€2,546 | -10.8% |
| Furniture and vehicles | 24 | €145,688 | €115,647 | -€30,042 | -20.6% |
| Other tangible fixed assets | 26 | €4,143 | €3,683 | -€460 | -11.1% |
| Financial fixed assets | 28 | €321,238 | €356,892 | +€35,654 | +11.1% |
| Current assets | 29/58 | €119,200 | €93,663 | -€25,537 | -21.4% |
| Amounts receivable within one year | 40/41 | €53,000 | €89,044 | +€36,044 | +68.0% |
| Trade receivables | 40 | - | €22,285 | +€22,285 | |
| Other amounts receivable | 41 | €53,000 | €66,760 | +€13,760 | +26.0% |
| Cash at bank and in hand | 54/58 | €66,200 | €4,619 | -€61,581 | -93.0% |
| Total equity and liabilities | 10/49 | €613,822 | €590,891 | -€22,931 | -3.7% |
| Equity | 10/15 | €480,053 | €359,225 | -€120,829 | -25.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €209,860 | €209,860 | = | 0.0% |
| 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 | €208,000 | €208,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €251,593 | €130,765 | -€120,829 | -48.0% |
| Amounts payable | 17/49 | €133,769 | €231,666 | +€97,897 | +73.2% |
| Amounts payable within one year | 42/48 | €133,769 | €231,666 | +€97,897 | +73.2% |
| Trade debts | 44 | €4,101 | €290 | -€3,810 | -92.9% |
| Suppliers | 440/4 | €4,101 | €290 | -€3,810 | -92.9% |
| Taxes, remuneration and social security | 45 | €14,899 | €10,401 | -€4,499 | -30.2% |
| Remuneration and social security | 454/9 | €14,899 | €10,401 | -€4,499 | -30.2% |
| Other amounts payable | 47/48 | €114,769 | €220,975 | +€106,206 | +92.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,130 | €33,048 | +€11,919 | +56.4% |
| Other operating charges | 640/8 | €1,272 | €1,523 | +€251 | +19.8% |
| Non-recurring operating charges | 66A | €9,207 | - | -€9,207 | |
| Gross operating margin | 9900 | €201,443 | €171,753 | -€29,690 | -14.7% |
| Operating profit (loss) | 9901 | €169,834 | €137,182 | -€32,653 | -19.2% |
| Financial income | 75/76B | €18,387 | €34,562 | +€16,175 | +88.0% |
| Recurring financial income | 75 | €18,387 | €34,562 | +€16,175 | +88.0% |
| Financial charges | 65/66B | €223 | €248 | +€25 | +11.1% |
| Recurring financial charges | 65 | €223 | €248 | +€25 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €187,999 | €171,496 | -€16,503 | -8.8% |
| Income taxes | 67/77 | €45,516 | €41,325 | -€4,191 | -9.2% |
| Profit (loss) for the period | 9904 | €142,483 | €130,171 | -€12,312 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €142,483 | €130,171 | -€12,312 | -8.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.