PELZCO: 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.
PELZCO
Largest movements
- Tangible fixed assets +€656,910
up €656,910 (+4777.8%), from €13,749 to €670,660
of which Land and buildings: +€668,917
- Receivables after one year -€196,646
down €196,646 (-100.0%), from €196,646 to €0
of which Other amounts receivable: -€185,538
- Receivables within one year +€145,568
up €145,568 (+514.9%), from €28,272 to €173,839
of which Other amounts receivable: +€173,268
- Cash +€32,023
up €32,023 (+394.3%), from €8,121 to €40,143
mainly Debts after one year (+€591,486) and Receivables after one year (+€196,646)
- Debts after one year +€591,486
up €591,486 (+9481.9%), from €6,238 to €597,724
- Profit (loss) carried forward +€34,244
up €34,244 (+42.7%), from €80,153 to €114,397
- Current portion of long-term debt +€29,375
up €29,375 (+1520.7%), from €1,932 to €31,307
- Tax, wage and social debts -€20,634
down €20,634 (-34.5%), from €59,792 to €39,158
- Trade debts +€11,232
up €11,232 (+423.9%), from €2,650 to €13,882
- Depreciation +€106,640
up €106,640 (+3179.2%), from €3,354 to €109,995
- Gross operating margin +€62,983
up €62,983 (+60.7%), from €103,687 to €166,670
- Financial charges +€13,484
up €13,484 (+276.7%), from €4,873 to €18,357
- Taxes -€10,607
down €10,607 (-48.7%), from €21,787 to €11,180
- Other operating charges +€1,977
up €1,977 (+220.0%), from €898 to €2,875
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 | €255,988 | €899,198 | +€643,210 | +251.3% |
| Fixed assets | 21/28 | €13,749 | €670,660 | +€656,910 | +4777.8% |
| Tangible fixed assets | 22/27 | €13,749 | €670,660 | +€656,910 | +4777.8% |
| Land and buildings | 22 | - | €668,917 | +€668,917 | |
| Plant, machinery and equipment | 23 | €2,029 | €1,333 | -€695 | -34.3% |
| Furniture and vehicles | 24 | €1,699 | €409 | -€1,290 | -75.9% |
| Other tangible fixed assets | 26 | €10,021 | €0 | -€10,021 | -100.0% |
| Financial fixed assets | 28 | - | €0 | = | |
| Current assets | 29/58 | €242,239 | €228,538 | -€13,701 | -5.7% |
| Amounts receivable after more than one year | 29 | €196,646 | €0 | -€196,646 | -100.0% |
| Trade receivables | 290 | €11,108 | €0 | -€11,108 | -100.0% |
| Other amounts receivable | 291 | €185,538 | €0 | -€185,538 | -100.0% |
| Amounts receivable within one year | 40/41 | €28,272 | €173,839 | +€145,568 | +514.9% |
| Trade receivables | 40 | €28,272 | €571 | -€27,701 | -98.0% |
| Other amounts receivable | 41 | €0 | €173,268 | +€173,268 | |
| Current investments | 50/53 | €5,000 | €10,000 | +€5,000 | +100.0% |
| Cash at bank and in hand | 54/58 | €8,121 | €40,143 | +€32,023 | +394.3% |
| Deferred charges and accrued income | 490/1 | €4,200 | €4,555 | +€355 | +8.5% |
| Total equity and liabilities | 10/49 | €255,988 | €899,198 | +€643,210 | +251.3% |
| Equity | 10/15 | €182,884 | €217,128 | +€34,244 | +18.7% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €101,231 | €101,231 | = | 0.0% |
| Distributable reserves | 133 | €101,231 | €101,231 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,153 | €114,397 | +€34,244 | +42.7% |
| Amounts payable | 17/49 | €73,104 | €682,070 | +€608,966 | +833.0% |
| Amounts payable after more than one year | 17 | €6,238 | €597,724 | +€591,486 | +9481.9% |
| Financial debts | 170/4 | €6,238 | €597,724 | +€591,486 | +9481.9% |
| Amounts payable within one year | 42/48 | €66,866 | €84,346 | +€17,480 | +26.1% |
| Current portion of amounts payable after more than one year | 42 | €1,932 | €31,307 | +€29,375 | +1520.7% |
| Trade debts | 44 | €2,650 | €13,882 | +€11,232 | +423.9% |
| Suppliers | 440/4 | €2,650 | €13,882 | +€11,232 | +423.9% |
| Taxes, remuneration and social security | 45 | €59,792 | €39,158 | -€20,634 | -34.5% |
| Taxes | 450/3 | €59,792 | €39,158 | -€20,634 | -34.5% |
| Other amounts payable | 47/48 | €2,492 | €0 | -€2,492 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,354 | €109,995 | +€106,640 | +3179.2% |
| Other operating charges | 640/8 | €898 | €2,875 | +€1,977 | +220.0% |
| Gross operating margin | 9900 | €103,687 | €166,670 | +€62,983 | +60.7% |
| Operating profit (loss) | 9901 | €99,434 | €53,800 | -€45,634 | -45.9% |
| Financial income | 75/76B | €8,238 | €9,981 | +€1,743 | +21.2% |
| Recurring financial income | 75 | €8,238 | €9,981 | +€1,743 | +21.2% |
| Financial charges | 65/66B | €4,873 | €18,357 | +€13,484 | +276.7% |
| Recurring financial charges | 65 | €4,873 | €18,357 | +€13,484 | +276.7% |
| Profit (loss) for the period before taxes | 9903 | €102,799 | €45,424 | -€57,375 | -55.8% |
| Income taxes | 67/77 | €21,787 | €11,180 | -€10,607 | -48.7% |
| Profit (loss) for the period | 9904 | €81,012 | €34,244 | -€46,768 | -57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €81,012 | €34,244 | -€46,768 | -57.7% |
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 10 October 2026 via checked.be.