PELVAM: 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.
PELVAM
Largest movements
- Cash +€31,347
up €31,347 (+9.6%), from €326,964 to €358,311
mainly Net result for the year (+€75,116) and Depreciation (+€38,323)
- Tangible fixed assets -€14,743
down €14,743 (-1.5%), from €952,730 to €937,987
of which Land and buildings: -€54,211
- Stocks and contracts +€14,379
up €14,379 (+46.8%), from €30,752 to €45,131
- Reserves +€56,225
up €56,225 (+11.9%), from €471,047 to €527,272
of which Distributable reserves: +€56,225
- Debts after one year -€33,333
down €33,333 (-14.8%), from €225,000 to €191,666
- Gross operating margin -€19,693
down €19,693 (-8.8%), from €224,940 to €205,247
- Taxes -€7,128
down €7,128 (-14.6%), from €48,848 to €41,720
- Financial charges -€2,256
down €2,256 (-10.8%), from €20,817 to €18,561
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 | €1,352,736 | €1,379,519 | +€26,783 | +2.0% |
| Fixed assets | 21/28 | €952,880 | €938,137 | -€14,743 | -1.5% |
| Tangible fixed assets | 22/27 | €952,730 | €937,987 | -€14,743 | -1.5% |
| Land and buildings | 22 | €932,430 | €878,219 | -€54,211 | -5.8% |
| Plant, machinery and equipment | 23 | €7,976 | €9,201 | +€1,225 | +15.4% |
| Furniture and vehicles | 24 | €12,324 | €7,763 | -€4,561 | -37.0% |
| Assets under construction and advance payments | 27 | - | €42,803 | +€42,803 | |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €399,856 | €441,382 | +€41,526 | +10.4% |
| Stocks and contracts in progress | 3 | €30,752 | €45,131 | +€14,379 | +46.8% |
| Stocks | 30/36 | €30,752 | €45,131 | +€14,379 | +46.8% |
| Amounts receivable within one year | 40/41 | €37,488 | €34,384 | -€3,104 | -8.3% |
| Trade receivables | 40 | €28,471 | €25,129 | -€3,342 | -11.7% |
| Other amounts receivable | 41 | €9,017 | €9,255 | +€238 | +2.6% |
| Cash at bank and in hand | 54/58 | €326,964 | €358,311 | +€31,347 | +9.6% |
| Deferred charges and accrued income | 490/1 | €4,653 | €3,556 | -€1,097 | -23.6% |
| Total equity and liabilities | 10/49 | €1,352,736 | €1,379,519 | +€26,783 | +2.0% |
| Equity | 10/15 | €777,247 | €833,472 | +€56,225 | +7.2% |
| Contributions | 10/11 | €306,200 | €306,200 | = | 0.0% |
| Reserves | 13 | €471,047 | €527,272 | +€56,225 | +11.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €471,047 | €527,272 | +€56,225 | +11.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €575,489 | €546,047 | -€29,443 | -5.1% |
| Amounts payable after more than one year | 17 | €225,000 | €191,666 | -€33,333 | -14.8% |
| Financial debts | 170/4 | €225,000 | €191,666 | -€33,333 | -14.8% |
| Amounts payable within one year | 42/48 | €342,410 | €346,771 | +€4,361 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €33,333 | €33,333 | = | 0.0% |
| Trade debts | 44 | €9,484 | €3,464 | -€6,020 | -63.5% |
| Suppliers | 440/4 | €9,484 | €3,464 | -€6,020 | -63.5% |
| Taxes, remuneration and social security | 45 | €16,996 | €13,971 | -€3,024 | -17.8% |
| Taxes | 450/3 | €13,805 | €11,444 | -€2,361 | -17.1% |
| Remuneration and social security | 454/9 | €3,190 | €2,527 | -€663 | -20.8% |
| Other amounts payable | 47/48 | €282,597 | €296,003 | +€13,405 | +4.7% |
| Accrued charges and deferred income | 492/3 | €8,079 | €7,609 | -€470 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,117 | €38,323 | -€1,794 | -4.5% |
| Other operating charges | 640/8 | €11,025 | €10,090 | -€934 | -8.5% |
| Non-recurring operating charges | 66A | - | €23,224 | +€23,224 | |
| Gross operating margin | 9900 | €224,940 | €205,247 | -€19,693 | -8.8% |
| Operating profit (loss) | 9901 | €173,798 | €133,610 | -€40,188 | -23.1% |
| Financial income | 75/76B | €493 | €1,786 | +€1,293 | +262% |
| Recurring financial income | 75 | €493 | €1,786 | +€1,293 | +262% |
| Financial charges | 65/66B | €20,817 | €18,561 | -€2,256 | -10.8% |
| Recurring financial charges | 65 | €20,817 | €18,561 | -€2,256 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €153,475 | €116,836 | -€36,639 | -23.9% |
| Income taxes | 67/77 | €48,848 | €41,720 | -€7,128 | -14.6% |
| Profit (loss) for the period | 9904 | €104,627 | €75,116 | -€29,511 | -28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €104,627 | €75,116 | -€29,511 | -28.2% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.