PELZER Philippe: 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.
PELZER Philippe
Largest movements
- Current investments +€50,000
up €50,000 (+33.3%), from €150,000 to €200,000
- Cash +€45,644
up €45,644 (+59.3%), from €76,927 to €122,570
mainly Net result for the year (+€114,089) and Receivables within one year (+€4,682)
- Tangible fixed assets +€16,954
up €16,954 (+52.4%), from €32,371 to €49,326
- Receivables within one year -€4,682
down €4,682 (-50.2%), from €9,332 to €4,650
- Reserves +€113,230
up €113,230 (+55.0%), from €206,002 to €319,232
- Tax, wage and social debts -€5,209
down €5,209 (-8.7%), from €59,622 to €54,413
- Gross operating margin -€14,110
down €14,110 (-7.8%), from €180,535 to €166,424
- Depreciation -€5,247
down €5,247 (-57.9%), from €9,061 to €3,814
- Financial income +€4,299
up €4,299 (+893.7%), from €481 to €4,780
- Taxes -€3,386
down €3,386 (-6.6%), from €51,468 to €48,082
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 | €269,457 | €377,510 | +€108,053 | +40.1% |
| Fixed assets | 21/28 | €32,621 | €49,326 | +€16,704 | +51.2% |
| Tangible fixed assets | 22/27 | €32,371 | €49,326 | +€16,954 | +52.4% |
| Furniture and vehicles | 24 | €32,371 | €49,326 | +€16,954 | +52.4% |
| Financial fixed assets | 28 | €250 | €0 | -€250 | -100.0% |
| Current assets | 29/58 | €236,836 | €328,184 | +€91,349 | +38.6% |
| Amounts receivable within one year | 40/41 | €9,332 | €4,650 | -€4,682 | -50.2% |
| Other amounts receivable | 41 | €9,332 | €4,650 | -€4,682 | -50.2% |
| Current investments | 50/53 | €150,000 | €200,000 | +€50,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €76,927 | €122,570 | +€45,644 | +59.3% |
| Deferred charges and accrued income | 490/1 | €577 | €964 | +€387 | +67.1% |
| Total equity and liabilities | 10/49 | €269,457 | €377,510 | +€108,053 | +40.1% |
| Equity | 10/15 | €209,002 | €322,232 | +€113,230 | +54.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €206,002 | €319,232 | +€113,230 | +55.0% |
| Distributable reserves | 133 | €206,002 | €319,232 | +€113,230 | +55.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €60,455 | €55,278 | -€5,177 | -8.6% |
| Amounts payable within one year | 42/48 | €60,455 | €55,278 | -€5,177 | -8.6% |
| Trade debts | 44 | €0 | €5 | +€5 | |
| Suppliers | 440/4 | €0 | €5 | +€5 | |
| Taxes, remuneration and social security | 45 | €59,622 | €54,413 | -€5,209 | -8.7% |
| Taxes | 450/3 | €59,622 | €54,413 | -€5,209 | -8.7% |
| Other amounts payable | 47/48 | €833 | €859 | +€26 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,061 | €3,814 | -€5,247 | -57.9% |
| Other operating charges | 640/8 | €1,106 | €257 | -€849 | -76.8% |
| Non-recurring operating charges | 66A | - | €4,871 | +€4,871 | |
| Gross operating margin | 9900 | €180,535 | €166,424 | -€14,110 | -7.8% |
| Operating profit (loss) | 9901 | €170,368 | €157,482 | -€12,886 | -7.6% |
| Financial income | 75/76B | €481 | €4,780 | +€4,299 | +893.7% |
| Recurring financial income | 75 | €481 | €4,780 | +€4,299 | +893.7% |
| Financial charges | 65/66B | €68 | €90 | +€23 | +33.3% |
| Recurring financial charges | 65 | €68 | €90 | +€23 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | €170,781 | €162,171 | -€8,610 | -5.0% |
| Income taxes | 67/77 | €51,468 | €48,082 | -€3,386 | -6.6% |
| Profit (loss) for the period | 9904 | €119,314 | €114,089 | -€5,224 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €119,314 | €114,089 | -€5,224 | -4.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.