PELLET SERVICE: 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.
PELLET SERVICE
Largest movements
- Tangible fixed assets +€42,886
up €42,886 (+153%), from €28,105 to €70,991
of which Leasing and similar rights: +€32,385
- Stocks and contracts +€35,416
new in 2025: €35,416
- Receivables within one year +€24,134
up €24,134 (+94.7%), from €25,494 to €49,628
of which Trade receivables: +€22,074
- Cash -€10,275
down €10,275 (-100%), from €10,275 to €0
mainly Investment in fixed assets (net) (-€56,614) and Stocks and contracts (-€35,416)
- Reserves +€44,348
new in 2025: €44,348
- Tax, wage and social debts +€20,778
up €20,778 (+454%), from €4,581 to €25,359
of which Remuneration and social security: +€10,997
- Profit (loss) carried forward -€17,356
down €17,356 (-100%), from €17,356 to €0
- Current portion of long-term debt +€10,842
up €10,842 (+196%), from €5,544 to €16,387
- Trade debts +€10,099
up €10,099 (+67.2%), from €15,022 to €25,121
- Gross operating margin +€77,097
up €77,097 (+276%), from €27,934 to €105,031
- Staff costs +€52,423
new in 2025: €52,423
- Depreciation +€8,603
up €8,603 (+168%), from €5,125 to €13,728
- Financial charges +€3,427
up €3,427 (+294%), from €1,167 to €4,594
- Taxes +€2,462
up €2,462 (+53.7%), from €4,581 to €7,043
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 | €63,874 | €156,035 | +€92,161 | +144% |
| Fixed assets | 21/28 | €28,105 | €70,991 | +€42,886 | +153% |
| Tangible fixed assets | 22/27 | €28,105 | €70,991 | +€42,886 | +153% |
| Land and buildings | 22 | €15,356 | €22,081 | +€6,725 | +43.8% |
| Plant, machinery and equipment | 23 | - | €3,976 | +€3,976 | |
| Furniture and vehicles | 24 | €1,004 | €803 | -€201 | -20.0% |
| Leasing and similar rights | 25 | €11,745 | €44,130 | +€32,385 | +276% |
| Current assets | 29/58 | €35,769 | €85,044 | +€49,275 | +138% |
| Stocks and contracts in progress | 3 | - | €35,416 | +€35,416 | |
| Stocks | 30/36 | - | €35,416 | +€35,416 | |
| Amounts receivable within one year | 40/41 | €25,494 | €49,628 | +€24,134 | +94.7% |
| Trade receivables | 40 | €10,585 | €32,659 | +€22,074 | +209% |
| Other amounts receivable | 41 | €14,909 | €16,968 | +€2,059 | +13.8% |
| Cash at bank and in hand | 54/58 | €10,275 | €0 | -€10,275 | -100% |
| Total equity and liabilities | 10/49 | €63,874 | €156,035 | +€92,161 | +144% |
| Equity | 10/15 | €20,356 | €47,348 | +€26,992 | +133% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €44,348 | +€44,348 | |
| Distributable reserves | 133 | - | €44,348 | +€44,348 | |
| Profit (loss) carried forward | 14 | €17,356 | €0 | -€17,356 | -100% |
| Amounts payable | 17/49 | €43,518 | €108,686 | +€65,168 | +150% |
| Amounts payable after more than one year | 17 | €18,370 | €28,156 | +€9,786 | +53.3% |
| Financial debts | 170/4 | €18,370 | €28,156 | +€9,786 | +53.3% |
| Amounts payable within one year | 42/48 | €25,148 | €75,271 | +€50,123 | +199% |
| Current portion of amounts payable after more than one year | 42 | €5,544 | €16,387 | +€10,842 | +196% |
| Financial debts | 43 | - | €8,405 | +€8,405 | |
| Credit institutions | 430/8 | - | €8,405 | +€8,405 | |
| Trade debts | 44 | €15,022 | €25,121 | +€10,099 | +67.2% |
| Suppliers | 440/4 | €15,022 | €25,121 | +€10,099 | +67.2% |
| Taxes, remuneration and social security | 45 | €4,581 | €25,359 | +€20,778 | +454% |
| Taxes | 450/3 | €4,581 | €14,362 | +€9,781 | +213% |
| Remuneration and social security | 454/9 | - | €10,997 | +€10,997 | |
| Accrued charges and deferred income | 492/3 | - | €5,259 | +€5,259 | |
| Remuneration, social security and pensions | 62 | - | €52,423 | +€52,423 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,125 | €13,728 | +€8,603 | +168% |
| Other operating charges | 640/8 | €126 | €682 | +€556 | +441% |
| Gross operating margin | 9900 | €27,934 | €105,031 | +€77,097 | +276% |
| Operating profit (loss) | 9901 | €22,683 | €38,197 | +€15,514 | +68.4% |
| Financial income | 75/76B | €421 | €432 | +€11 | +2.6% |
| Recurring financial income | 75 | €421 | €432 | +€11 | +2.6% |
| Financial charges | 65/66B | €1,167 | €4,594 | +€3,427 | +294% |
| Recurring financial charges | 65 | €1,167 | €4,594 | +€3,427 | +294% |
| Profit (loss) for the period before taxes | 9903 | €21,937 | €34,035 | +€12,098 | +55.2% |
| Income taxes | 67/77 | €4,581 | €7,043 | +€2,462 | +53.7% |
| Profit (loss) for the period | 9904 | €17,356 | €26,992 | +€9,637 | +55.5% |
| Profit (loss) for the period to be appropriated | 9905 | €17,356 | €26,992 | +€9,637 | +55.5% |
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 31 October 2026 via checked.be.