Pelsinvest: 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.
Pelsinvest
Largest movements
- Stocks and contracts +€1.3m
up €1.3m (+1175.7%), from €107,200 to €1.4m
- Cash -€274,219
down €274,219 (-99.6%), from €275,243 to €1,024
mainly Stocks and contracts (-€1.3m) and Trade debts (-€32,741)
- Receivables within one year -€28,872
no longer reported in 2025 (was €28,872)
- Debts after one year +€691,471
up €691,471 (+120.8%), from €572,202 to €1.3m
- Other debts +€258,972
up €258,972 (+456.0%), from €56,789 to €315,761
- Trade debts -€32,741
down €32,741 (-77.3%), from €42,381 to €9,639
- Profit (loss) carried forward +€21,959
up €21,959 (+210.0%), from €10,455 to €32,414
- Gross operating margin -€6,972
down €6,972 (-7.6%), from €91,467 to €84,495
- Taxes -€6,109
down €6,109 (-79.6%), from €7,673 to €1,564
- Other operating charges +€1,632
up €1,632 (+108.6%), from €1,503 to €3,135
- Financial charges -€1,256
down €1,256 (-2.6%), from €48,471 to €47,215
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 | €720,399 | €1,662,066 | +€941,666 | +130.7% |
| Fixed assets | 21/28 | €309,085 | €293,442 | -€15,643 | -5.1% |
| Tangible fixed assets | 22/27 | €309,085 | €293,442 | -€15,643 | -5.1% |
| Land and buildings | 22 | €309,085 | €293,442 | -€15,643 | -5.1% |
| Current assets | 29/58 | €411,315 | €1,368,624 | +€957,309 | +232.7% |
| Stocks and contracts in progress | 3 | €107,200 | €1,367,600 | +€1.3m | +1175.7% |
| Stocks | 30/36 | €107,200 | €1,367,600 | +€1.3m | +1175.7% |
| Amounts receivable within one year | 40/41 | €28,872 | - | -€28,872 | |
| Other amounts receivable | 41 | €28,872 | - | -€28,872 | |
| Cash at bank and in hand | 54/58 | €275,243 | €1,024 | -€274,219 | -99.6% |
| Total equity and liabilities | 10/49 | €720,399 | €1,662,066 | +€941,666 | +130.7% |
| Equity | 10/15 | €20,455 | €42,414 | +€21,959 | +107.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,455 | €32,414 | +€21,959 | +210.0% |
| Amounts payable | 17/49 | €699,944 | €1,619,652 | +€919,708 | +131.4% |
| Amounts payable after more than one year | 17 | €572,202 | €1,263,673 | +€691,471 | +120.8% |
| Financial debts | 170/4 | €572,202 | €1,263,673 | +€691,471 | +120.8% |
| Amounts payable within one year | 42/48 | €127,724 | €355,979 | +€228,255 | +178.7% |
| Current portion of amounts payable after more than one year | 42 | €20,882 | €20,485 | -€396 | -1.9% |
| Trade debts | 44 | €42,381 | €9,639 | -€32,741 | -77.3% |
| Suppliers | 440/4 | €42,381 | €9,639 | -€32,741 | -77.3% |
| Taxes, remuneration and social security | 45 | €7,673 | €10,094 | +€2,421 | +31.6% |
| Taxes | 450/3 | €7,673 | €10,094 | +€2,421 | +31.6% |
| Other amounts payable | 47/48 | €56,789 | €315,761 | +€258,972 | +456.0% |
| Accrued charges and deferred income | 492/3 | €18 | - | -€18 | |
| Non-recurring operating income | 76A | - | €50,959 | +€50,959 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,802 | €10,622 | -€180 | -1.7% |
| Other operating charges | 640/8 | €1,503 | €3,135 | +€1,632 | +108.6% |
| Gross operating margin | 9900 | €91,467 | €84,495 | -€6,972 | -7.6% |
| Operating profit (loss) | 9901 | €79,161 | €70,738 | -€8,424 | -10.6% |
| Financial charges | 65/66B | €48,471 | €47,215 | -€1,256 | -2.6% |
| Recurring financial charges | 65 | €48,471 | €47,215 | -€1,256 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €30,690 | €23,523 | -€7,167 | -23.4% |
| Income taxes | 67/77 | €7,673 | €1,564 | -€6,109 | -79.6% |
| Profit (loss) for the period | 9904 | €23,018 | €21,959 | -€1,059 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,018 | €21,959 | -€1,059 | -4.6% |
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 9 October 2026 via checked.be.