PELVO: 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.
PELVO
Largest movements
- Tangible fixed assets +€14,196
up €14,196 (+111%), from €12,841 to €27,037
of which Furniture and vehicles: +€11,962
- Receivables within one year +€8,684
up €8,684 (+69.1%), from €12,571 to €21,255
of which Trade receivables: +€11,222
- Cash -€8,264
down €8,264 (-10.8%), from €76,621 to €68,357
mainly Investment in fixed assets (net) (-€22,641) and Receivables within one year (-€8,684)
- Reserves +€12,743
up €12,743 (+20.3%), from €62,701 to €75,444
- Tax, wage and social debts +€6,225
up €6,225 (+198%), from €3,137 to €9,362
- Trade debts -€2,467
down €2,467 (-80.0%), from €3,082 to €616
- Short-term financial debts -€2,026
no longer reported in 2025 (was €2,026)
- Gross operating margin -€11,395
down €11,395 (-29.4%), from €38,737 to €27,342
- Depreciation +€4,163
up €4,163 (+97.2%), from €4,282 to €8,445
- Taxes -€3,310
down €3,310 (-36.8%), from €8,992 to €5,682
- Financial income +€507
new in 2025: €507
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 | €102,571 | €117,167 | +€14,595 | +14.2% |
| Fixed assets | 21/28 | €12,841 | €27,037 | +€14,196 | +111% |
| Tangible fixed assets | 22/27 | €12,841 | €27,037 | +€14,196 | +111% |
| Plant, machinery and equipment | 23 | €9,882 | €12,116 | +€2,234 | +22.6% |
| Furniture and vehicles | 24 | €2,959 | €14,921 | +€11,962 | +404% |
| Current assets | 29/58 | €89,730 | €90,130 | +€399 | +0.4% |
| Amounts receivable within one year | 40/41 | €12,571 | €21,255 | +€8,684 | +69.1% |
| Trade receivables | 40 | €8,648 | €19,870 | +€11,222 | +130% |
| Other amounts receivable | 41 | €3,923 | €1,386 | -€2,537 | -64.7% |
| Cash at bank and in hand | 54/58 | €76,621 | €68,357 | -€8,264 | -10.8% |
| Deferred charges and accrued income | 490/1 | €539 | €517 | -€21 | -4.0% |
| Total equity and liabilities | 10/49 | €102,571 | €117,167 | +€14,595 | +14.2% |
| Equity | 10/15 | €91,301 | €104,044 | +€12,743 | +14.0% |
| Contributions | 10/11 | €28,600 | €28,600 | = | 0.0% |
| Reserves | 13 | €62,701 | €75,444 | +€12,743 | +20.3% |
| Distributable reserves | 133 | €62,701 | €75,444 | +€12,743 | +20.3% |
| Amounts payable | 17/49 | €11,270 | €13,122 | +€1,852 | +16.4% |
| Amounts payable within one year | 42/48 | €11,270 | €13,122 | +€1,852 | +16.4% |
| Current portion of amounts payable after more than one year | 42 | €285 | - | -€285 | |
| Financial debts | 43 | €2,026 | - | -€2,026 | |
| Other loans | 439 | €2,026 | - | -€2,026 | |
| Trade debts | 44 | €3,082 | €616 | -€2,467 | -80.0% |
| Suppliers | 440/4 | €3,082 | €616 | -€2,467 | -80.0% |
| Taxes, remuneration and social security | 45 | €3,137 | €9,362 | +€6,225 | +198% |
| Taxes | 450/3 | €3,137 | €9,362 | +€6,225 | +198% |
| Other amounts payable | 47/48 | €2,741 | €3,145 | +€404 | +14.7% |
| Non-recurring operating income | 76A | - | €1,147 | +€1,147 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,282 | €8,445 | +€4,163 | +97.2% |
| Other operating charges | 640/8 | €1,071 | €896 | -€175 | -16.3% |
| Gross operating margin | 9900 | €38,737 | €27,342 | -€11,395 | -29.4% |
| Operating profit (loss) | 9901 | €33,384 | €18,002 | -€15,383 | -46.1% |
| Financial income | 75/76B | - | €507 | +€507 | |
| Recurring financial income | 75 | - | €507 | +€507 | |
| Financial charges | 65/66B | €172 | €84 | -€88 | -51.2% |
| Recurring financial charges | 65 | €172 | €84 | -€88 | -51.2% |
| Profit (loss) for the period before taxes | 9903 | €33,213 | €18,425 | -€14,788 | -44.5% |
| Income taxes | 67/77 | €8,992 | €5,682 | -€3,310 | -36.8% |
| Profit (loss) for the period | 9904 | €24,221 | €12,743 | -€11,478 | -47.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,221 | €12,743 | -€11,478 | -47.4% |
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 16 October 2026 via checked.be.