PELUCAS: 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.
PELUCAS
Largest movements
- Tangible fixed assets -€194,953
down €194,953 (-6.1%), from €3.2m to €3.0m
of which Land and buildings: -€173,408
- Cash +€151,534
up €151,534 (+36.9%), from €410,537 to €562,070
mainly Depreciation (+€194,953) and Net result for the year (+€105,957)
- Debts after one year -€151,188
down €151,188 (-10.9%), from €1.4m to €1.2m
of which Financial debts: -€151,188
- Reserves +€105,957
up €105,957 (+90.5%), from €117,143 to €223,099
of which Distributable reserves: +€100,659
- Gross operating margin +€29,146
up €29,146 (+9.6%), from €303,242 to €332,388
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 | €3,620,772 | €3,581,659 | -€39,112 | -1.1% |
| Fixed assets | 21/28 | €3,199,608 | €3,004,654 | -€194,953 | -6.1% |
| Tangible fixed assets | 22/27 | €3,199,608 | €3,004,654 | -€194,953 | -6.1% |
| Land and buildings | 22 | €3,167,425 | €2,994,017 | -€173,408 | -5.5% |
| Plant, machinery and equipment | 23 | €32,182 | €10,637 | -€21,545 | -66.9% |
| Current assets | 29/58 | €421,164 | €577,005 | +€155,841 | +37.0% |
| Amounts receivable within one year | 40/41 | €7,337 | €9,579 | +€2,242 | +30.6% |
| Trade receivables | 40 | €7,164 | €9,579 | +€2,415 | +33.7% |
| Other amounts receivable | 41 | €173 | €0 | -€173 | -100% |
| Cash at bank and in hand | 54/58 | €410,537 | €562,070 | +€151,534 | +36.9% |
| Deferred charges and accrued income | 490/1 | €3,291 | €5,356 | +€2,065 | +62.7% |
| Total equity and liabilities | 10/49 | €3,620,772 | €3,581,659 | -€39,112 | -1.1% |
| Equity | 10/15 | €2,064,224 | €2,170,180 | +€105,957 | +5.1% |
| Contributions | 10/11 | €1,668,498 | €1,668,498 | = | 0.0% |
| Capital | 10 | €1,668,498 | €1,668,498 | = | 0.0% |
| Issued capital | 100 | €1,668,498 | €1,668,498 | = | 0.0% |
| Revaluation surpluses | 12 | €278,583 | €278,583 | = | 0.0% |
| Reserves | 13 | €117,143 | €223,099 | +€105,957 | +90.5% |
| Non-distributable reserves | 130/1 | €12,179 | €17,477 | +€5,298 | +43.5% |
| Legal reserve | 130 | €12,179 | €17,477 | +€5,298 | +43.5% |
| Distributable reserves | 133 | €104,963 | €205,622 | +€100,659 | +95.9% |
| Amounts payable | 17/49 | €1,556,548 | €1,411,479 | -€145,069 | -9.3% |
| Amounts payable after more than one year | 17 | €1,385,300 | €1,234,112 | -€151,188 | -10.9% |
| Financial debts | 170/4 | €1,375,508 | €1,224,320 | -€151,188 | -11.0% |
| Other amounts payable | 178/9 | €9,792 | €9,792 | = | 0.0% |
| Amounts payable within one year | 42/48 | €171,248 | €177,242 | +€5,994 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €161,730 | €162,682 | +€952 | +0.6% |
| Trade debts | 44 | €1,324 | €639 | -€684 | -51.7% |
| Suppliers | 440/4 | €1,324 | €639 | -€684 | -51.7% |
| Advances received on contracts in progress | 46 | €5,813 | €12,475 | +€6,662 | +115% |
| Other amounts payable | 47/48 | €2,381 | €1,446 | -€935 | -39.3% |
| Accrued charges and deferred income | 492/3 | €0 | €125 | +€125 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €196,046 | €194,953 | -€1,093 | -0.6% |
| Other operating charges | 640/8 | €6,598 | €6,576 | -€21 | -0.3% |
| Gross operating margin | 9900 | €303,242 | €332,388 | +€29,146 | +9.6% |
| Operating profit (loss) | 9901 | €100,598 | €130,859 | +€30,260 | +30.1% |
| Financial income | 75/76B | €88 | €0 | -€88 | -100% |
| Recurring financial income | 75 | €88 | €0 | -€88 | -100% |
| Financial charges | 65/66B | €27,184 | €24,902 | -€2,282 | -8.4% |
| Recurring financial charges | 65 | €27,184 | €24,902 | -€2,282 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €73,502 | €105,957 | +€32,455 | +44.2% |
| Profit (loss) for the period | 9904 | €73,502 | €105,957 | +€32,455 | +44.2% |
| Profit (loss) for the period to be appropriated | 9905 | €73,502 | €105,957 | +€32,455 | +44.2% |
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 14 October 2026 via checked.be.