PELOGON: 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
PELOGON
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€32,973
2024 · €364,857-€397,831
Equity
€11.5m
2024 · €11.5m-€28,804
Cash
€208,200
2024 · €381,391-€173,191
Balance sheet total
€16.1m
2024 · €16.5m-€378,493
Largest movements
Assets
- Tangible fixed assets -€304,594
down €304,594 (-3.9%), from €7.8m to €7.5m
of which Land and buildings: -€258,055
- Cash -€173,191
down €173,191 (-45.4%), from €381,391 to €208,200
mainly Debts after one year (-€283,800) and Receivables within one year (-€98,287)
Equity and liabilities
- Debts after one year -€283,800
down €283,800 (-8.6%), from €3.3m to €3.0m
Income statement
- Financial income -€348,601
down €348,601 (-99.9%), from €348,950 to €350
- Turnover -€46,142
down €46,142 (-8.1%), from €570,940 to €524,798
- Financial charges -€44,946
down €44,946 (-30.6%), from €147,057 to €102,110
- Other operating income -€36,899
down €36,899 (-37.4%), from €98,646 to €61,747
- Depreciation +€14,786
up €14,786 (+4.7%), from €314,796 to €329,582
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
€364,857
Turnover
-€46,142
Other operating income
-€36,899
Services and other goods
+€3,480
Depreciation
-€14,786
Other operating charges
+€170
Financial income
-€348,601
Financial charges
+€44,946
Result 2025
-€32,973
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
+€131,428
Investment
-€24,988
Financing
-€279,631
Cash 2024
€381,391
From operations (derived)
+€131,428
Net result for the year
-€32,973
Depreciation
+€329,582
Receivables within one year
-€98,287
Deferred charges and accrued income
-€1,003
Provisions
-€21,763
Trade debts
-€3,180
Tax, wage and social debts
-€13,182
Other debts
-€29,925
Accrued charges and deferred income
+€2,161
Investment (derived)
-€24,988
Investment in fixed assets (net)
-€24,988
Financing
-€279,631
Debts after one year
-€283,800
Contributions, distributions and other
+€4,169
Cash 2025
€208,200
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,493,156 | €16,114,662 | -€378,493 | -2.3% |
| Fixed assets | 21/28 | €16,010,026 | €15,705,432 | -€304,594 | -1.9% |
| Tangible fixed assets | 22/27 | €7,775,601 | €7,471,008 | -€304,594 | -3.9% |
| Land and buildings | 22 | €6,887,136 | €6,629,081 | -€258,055 | -3.7% |
| Plant, machinery and equipment | 23 | €888,465 | €841,926 | -€46,539 | -5.2% |
| Financial fixed assets | 28 | €8,234,424 | €8,234,424 | = | 0.0% |
| Affiliated companies | 280/1 | €8,234,424 | €8,234,424 | = | 0.0% |
| Participating interests | 280 | €8,234,424 | €8,234,424 | = | 0.0% |
| Current assets | 29/58 | €483,130 | €409,230 | -€73,900 | -15.3% |
| Amounts receivable within one year | 40/41 | €61,511 | €159,798 | +€98,287 | +160% |
| Trade receivables | 40 | €8,381 | €107,515 | +€99,133 | +1,183% |
| Other amounts receivable | 41 | €53,130 | €52,284 | -€846 | -1.6% |
| Cash at bank and in hand | 54/58 | €381,391 | €208,200 | -€173,191 | -45.4% |
| Deferred charges and accrued income | 490/1 | €40,229 | €41,232 | +€1,003 | +2.5% |
| Total equity and liabilities | 10/49 | €16,493,156 | €16,114,662 | -€378,493 | -2.3% |
| Equity | 10/15 | €11,496,768 | €11,467,964 | -€28,804 | -0.3% |
| Contributions | 10/11 | €7,004,471 | €7,004,471 | = | 0.0% |
| Reserves | 13 | €3,120,434 | €3,071,821 | -€48,612 | -1.6% |
| Tax-exempt reserves | 132 | €1,645,203 | €1,596,591 | -€48,612 | -3.0% |
| Distributable reserves | 133 | €1,475,230 | €1,475,230 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,371,863 | €1,391,671 | +€19,808 | +1.4% |
| Provisions and deferred taxes | 16 | €553,960 | €532,197 | -€21,763 | -3.9% |
| Deferred taxes | 168 | €553,960 | €532,197 | -€21,763 | -3.9% |
| Amounts payable | 17/49 | €4,442,428 | €4,114,501 | -€327,926 | -7.4% |
| Amounts payable after more than one year | 17 | €3,306,745 | €3,022,945 | -€283,800 | -8.6% |
| Financial debts | 170/4 | €3,306,745 | €3,022,945 | -€283,800 | -8.6% |
| Credit institutions | 173 | €3,306,745 | €3,022,945 | -€283,800 | -8.6% |
| Amounts payable within one year | 42/48 | €1,093,463 | €1,047,176 | -€46,287 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €283,800 | €283,800 | = | 0.0% |
| Trade debts | 44 | €8,439 | €5,259 | -€3,180 | -37.7% |
| Suppliers | 440/4 | €8,439 | €5,259 | -€3,180 | -37.7% |
| Taxes, remuneration and social security | 45 | €21,182 | €8,000 | -€13,182 | -62.2% |
| Taxes | 450/3 | €21,182 | €8,000 | -€13,182 | -62.2% |
| Other amounts payable | 47/48 | €780,042 | €750,117 | -€29,925 | -3.8% |
| Accrued charges and deferred income | 492/3 | €42,220 | €44,380 | +€2,161 | +5.1% |
| Operating income | 70/76A | €669,585 | €586,545 | -€83,040 | -12.4% |
| Turnover | 70 | €570,940 | €524,798 | -€46,142 | -8.1% |
| Other operating income | 74 | €98,646 | €61,747 | -€36,899 | -37.4% |
| Operating charges | 60/66A | €524,216 | €535,352 | +€11,136 | +2.1% |
| Services and other goods | 61 | €146,363 | €142,883 | -€3,480 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €314,796 | €329,582 | +€14,786 | +4.7% |
| Other operating charges | 640/8 | €63,056 | €62,887 | -€170 | -0.3% |
| Operating profit (loss) | 9901 | €145,370 | €51,194 | -€94,176 | -64.8% |
| Financial income | 75/76B | €348,950 | €350 | -€348,601 | -99.9% |
| Recurring financial income | 75 | €348,950 | €350 | -€348,601 | -99.9% |
| Income from financial fixed assets | 750 | €348,600 | - | -€348,600 | |
| Income from current assets | 751 | €350 | €350 | -€1 | -0.3% |
| Financial charges | 65/66B | €147,057 | €102,110 | -€44,946 | -30.6% |
| Recurring financial charges | 65 | €147,057 | €102,110 | -€44,946 | -30.6% |
| Debt charges | 650 | €144,856 | €101,150 | -€43,707 | -30.2% |
| Other financial charges | 652/9 | €2,200 | €960 | -€1,240 | -56.3% |
| Profit (loss) for the period before taxes | 9903 | €347,263 | -€50,567 | -€397,831 | |
| Transfer from deferred taxes | 780 | €17,594 | €17,594 | = | 0.0% |
| Profit (loss) for the period | 9904 | €364,857 | -€32,973 | -€397,831 | |
| Transfer from tax-exempt reserves | 789 | €52,257 | €52,781 | +€524 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €417,115 | €19,808 | -€397,307 | -95.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.