PEPA CONSULTING: what changed
PEPA CONSULTING
Largest movements
- Cash -€12,651
down €12,651 (-26.2%), from €48,317 to €35,666
mainly Other debts (-€10,819) and Investment in fixed assets (net) (-€4,174)
- Receivables within one year +€3,497
up €3,497 (+16.8%), from €20,762 to €24,259
of which Other amounts receivable: +€3,323
- Tangible fixed assets +€1,487
up €1,487 (+62.0%), from €2,397 to €3,884
- Other debts -€10,819
no longer reported in 2025 (was €10,819)
- Reserves +€3,238
up €3,238 (+9.2%), from €35,102 to €38,339
- Tax, wage and social debts -€1,218
down €1,218 (-8.5%), from €14,333 to €13,115
of which Taxes: -€1,668
- Gross operating margin +€4,033
up €4,033 (+25.6%), from €15,726 to €19,759
- Staff costs +€2,046
up €2,046 (+24.6%), from €8,309 to €10,355
- Taxes +€860
up €860 (+118%), from €731 to €1,591
- Depreciation -€439
down €439 (-14.0%), from €3,126 to €2,687
- Financial charges -€425
down €425 (-30.2%), from €1,404 to €979
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €74,263 | €65,954 | -€8,309 | -11.2% |
| Fixed assets | 21/28 | €2,397 | €3,884 | +€1,487 | +62.0% |
| Tangible fixed assets | 22/27 | €2,397 | €3,884 | +€1,487 | +62.0% |
| Plant, machinery and equipment | 23 | €2,397 | €3,884 | +€1,487 | +62.0% |
| Current assets | 29/58 | €71,866 | €62,070 | -€9,796 | -13.6% |
| Amounts receivable within one year | 40/41 | €20,762 | €24,259 | +€3,497 | +16.8% |
| Trade receivables | 40 | €16,988 | €17,163 | +€174 | +1.0% |
| Other amounts receivable | 41 | €3,773 | €7,096 | +€3,323 | +88.1% |
| Cash at bank and in hand | 54/58 | €48,317 | €35,666 | -€12,651 | -26.2% |
| Deferred charges and accrued income | 490/1 | €2,788 | €2,145 | -€643 | -23.1% |
| Total equity and liabilities | 10/49 | €74,263 | €65,954 | -€8,309 | -11.2% |
| Equity | 10/15 | €47,602 | €50,839 | +€3,238 | +6.8% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €35,102 | €38,339 | +€3,238 | +9.2% |
| Distributable reserves | 133 | €35,102 | €38,339 | +€3,238 | +9.2% |
| Amounts payable | 17/49 | €26,662 | €15,115 | -€11,547 | -43.3% |
| Amounts payable within one year | 42/48 | €26,662 | €14,690 | -€11,971 | -44.9% |
| Trade debts | 44 | €1,510 | €1,576 | +€66 | +4.4% |
| Suppliers | 440/4 | €1,510 | €1,576 | +€66 | +4.4% |
| Taxes, remuneration and social security | 45 | €14,333 | €13,115 | -€1,218 | -8.5% |
| Taxes | 450/3 | €14,186 | €12,518 | -€1,668 | -11.8% |
| Remuneration and social security | 454/9 | €147 | €597 | +€450 | +307% |
| Other amounts payable | 47/48 | €10,819 | - | -€10,819 | |
| Accrued charges and deferred income | 492/3 | - | €424 | +€424 | |
| Remuneration, social security and pensions | 62 | €8,309 | €10,355 | +€2,046 | +24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,126 | €2,687 | -€439 | -14.0% |
| Other operating charges | 640/8 | €914 | €910 | -€4 | -0.4% |
| Gross operating margin | 9900 | €15,726 | €19,759 | +€4,033 | +25.6% |
| Operating profit (loss) | 9901 | €3,377 | €5,807 | +€2,430 | +72.0% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,404 | €979 | -€425 | -30.2% |
| Recurring financial charges | 65 | €1,404 | €979 | -€425 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | €1,973 | €4,828 | +€2,856 | +145% |
| Income taxes | 67/77 | €731 | €1,591 | +€860 | +118% |
| Profit (loss) for the period | 9904 | €1,242 | €3,238 | +€1,996 | +161% |
| Profit (loss) for the period to be appropriated | 9905 | €1,242 | €3,238 | +€1,996 | +161% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.