PePe: 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.
PePe
Largest movements
- Current investments +€1.5m
new in 2025: €1.5m
- Cash +€550,607
up €550,607 (+230.9%), from €238,480 to €789,087
mainly Net result for the year (+€1.7m) and Investment in fixed assets (net) (+€455,213)
- Financial fixed assets -€460,594
down €460,594 (-29.1%), from €1.6m to €1.1m
- Reserves +€1.7m
up €1.7m (+396.0%), from €417,259 to €2.1m
of which Distributable reserves: +€1.7m
- Debts after one year -€200,000
down €200,000 (-42.1%), from €475,000 to €275,000
- Tax, wage and social debts +€155,791
up €155,791 (+2005.2%), from €7,769 to €163,560
of which Taxes: +€155,791
- Other debts -€43,533
down €43,533 (-80.2%), from €54,274 to €10,740
- Financial income +€2.1m
up €2.1m (+10629.9%), from €19,287 to €2.1m
of which Financial income: +€1.5m
- Financial charges +€245,113
up €245,113 (+1124.0%), from €21,807 to €266,921
of which Non-recurring financial charges: +€250,000
- Taxes +€156,888
up €156,888 (+1214.1%), from €12,923 to €169,810
- Gross operating margin -€23,065
down €23,065 (-51.9%), from €44,463 to €21,398
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 | €1,837,168 | €3,397,032 | +€1.6m | +84.9% |
| Fixed assets | 21/28 | €1,584,282 | €1,128,551 | -€455,731 | -28.8% |
| Tangible fixed assets | 22/27 | €0 | €4,863 | +€4,863 | |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | - | €4,863 | +€4,863 | |
| Financial fixed assets | 28 | €1,584,282 | €1,123,688 | -€460,594 | -29.1% |
| Current assets | 29/58 | €252,886 | €2,268,481 | +€2.0m | +797.0% |
| Amounts receivable within one year | 40/41 | €0 | €9,953 | +€9,953 | |
| Trade receivables | 40 | - | €8,000 | +€8,000 | |
| Other amounts receivable | 41 | €0 | €1,953 | +€1,953 | |
| Current investments | 50/53 | - | €1,450,000 | +€1.5m | |
| Cash at bank and in hand | 54/58 | €238,480 | €789,087 | +€550,607 | +230.9% |
| Deferred charges and accrued income | 490/1 | €14,406 | €19,441 | +€5,035 | +34.9% |
| Total equity and liabilities | 10/49 | €1,837,168 | €3,397,032 | +€1.6m | +84.9% |
| Equity | 10/15 | €1,277,259 | €2,929,713 | +€1.7m | +129.4% |
| Contributions | 10/11 | €860,000 | €860,000 | = | 0.0% |
| Reserves | 13 | €417,259 | €2,069,713 | +€1.7m | +396.0% |
| Non-distributable reserves | 130/1 | €59,300 | €59,300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €59,300 | €59,300 | = | 0.0% |
| Distributable reserves | 133 | €357,959 | €2,010,413 | +€1.7m | +461.6% |
| Amounts payable | 17/49 | €559,910 | €467,319 | -€92,590 | -16.5% |
| Amounts payable after more than one year | 17 | €475,000 | €275,000 | -€200,000 | -42.1% |
| Financial debts | 170/4 | €475,000 | €275,000 | -€200,000 | -42.1% |
| Amounts payable within one year | 42/48 | €63,126 | €175,427 | +€112,301 | +177.9% |
| Trade debts | 44 | €1,084 | €1,126 | +€43 | +4.0% |
| Suppliers | 440/4 | €1,084 | €1,126 | +€43 | +4.0% |
| Taxes, remuneration and social security | 45 | €7,769 | €163,560 | +€155,791 | +2005.2% |
| Taxes | 450/3 | €5,269 | €161,060 | +€155,791 | +2956.5% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €54,274 | €10,740 | -€43,533 | -80.2% |
| Accrued charges and deferred income | 492/3 | €21,783 | €16,892 | -€4,891 | -22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €383 | €517 | +€134 | +35.0% |
| Other operating charges | 640/8 | €1,178 | €1,136 | -€41 | -3.5% |
| Gross operating margin | 9900 | €44,463 | €21,398 | -€23,065 | -51.9% |
| Operating profit (loss) | 9901 | €42,902 | €19,744 | -€23,158 | -54.0% |
| Financial income | 75/76B | €19,287 | €2,069,441 | +€2.1m | +10629.9% |
| Recurring financial income | 75 | €19,287 | €1,519,441 | +€1.5m | +7778.2% |
| Non-recurring financial income | 76B | - | €550,000 | +€550,000 | |
| Financial charges | 65/66B | €21,807 | €266,921 | +€245,113 | +1124.0% |
| Recurring financial charges | 65 | €21,807 | €16,921 | -€4,887 | -22.4% |
| Non-recurring financial charges | 66B | - | €250,000 | +€250,000 | |
| Profit (loss) for the period before taxes | 9903 | €40,381 | €1,822,264 | +€1.8m | +4412.6% |
| Income taxes | 67/77 | €12,923 | €169,810 | +€156,888 | +1214.1% |
| Profit (loss) for the period | 9904 | €27,459 | €1,652,454 | +€1.6m | +5918.0% |
| Profit (loss) for the period to be appropriated | 9905 | €27,459 | €1,652,454 | +€1.6m | +5918.0% |
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 11 October 2026 via checked.be.