PEPE STUDIO: 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 STUDIO
Largest movements
- Cash +€269,305
up €269,305 (+216%), from €124,899 to €394,204
mainly Net result for the year (+€159,309) and Tax, wage and social debts (+€98,207)
- Receivables within one year +€13,170
up €13,170 (+62.0%), from €21,252 to €34,423
of which Other amounts receivable: +€12,528
- Reserves +€159,309
up €159,309 (+193%), from €82,657 to €241,967
- Tax, wage and social debts +€98,207
up €98,207 (+177%), from €55,610 to €153,818
- Trade debts +€22,119
up €22,119 (+994%), from €2,226 to €24,345
- Gross operating margin +€132,449
up €132,449 (+100.0%), from €132,486 to €264,936
- Taxes +€35,765
up €35,765 (+111%), from €32,249 to €68,014
- Financial charges +€22,868
up €22,868 (+185%), from €12,354 to €35,222
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 | €148,466 | €430,157 | +€281,691 | +190% |
| Fixed assets | 21/28 | €2,217 | €1,531 | -€686 | -31.0% |
| Tangible fixed assets | 22/27 | €2,217 | €1,531 | -€686 | -31.0% |
| Furniture and vehicles | 24 | €2,217 | €1,531 | -€686 | -31.0% |
| Current assets | 29/58 | €146,249 | €428,626 | +€282,378 | +193% |
| Amounts receivable within one year | 40/41 | €21,252 | €34,423 | +€13,170 | +62.0% |
| Trade receivables | 40 | €5,149 | €5,791 | +€642 | +12.5% |
| Other amounts receivable | 41 | €16,103 | €28,632 | +€12,528 | +77.8% |
| Cash at bank and in hand | 54/58 | €124,899 | €394,204 | +€269,305 | +216% |
| Deferred charges and accrued income | 490/1 | €98 | - | -€98 | |
| Total equity and liabilities | 10/49 | €148,466 | €430,157 | +€281,691 | +190% |
| Equity | 10/15 | €88,157 | €247,467 | +€159,309 | +181% |
| Contributions | 10/11 | €5,500 | €5,500 | = | 0.0% |
| Reserves | 13 | €82,657 | €241,967 | +€159,309 | +193% |
| Distributable reserves | 133 | €82,657 | €241,967 | +€159,309 | +193% |
| Amounts payable | 17/49 | €60,308 | €182,691 | +€122,382 | +203% |
| Amounts payable within one year | 42/48 | €60,308 | €179,617 | +€119,309 | +198% |
| Trade debts | 44 | €2,226 | €24,345 | +€22,119 | +994% |
| Suppliers | 440/4 | €2,226 | €24,345 | +€22,119 | +994% |
| Taxes, remuneration and social security | 45 | €55,610 | €153,818 | +€98,207 | +177% |
| Taxes | 450/3 | €55,610 | €153,818 | +€98,207 | +177% |
| Other amounts payable | 47/48 | €2,472 | €1,454 | -€1,018 | -41.2% |
| Accrued charges and deferred income | 492/3 | - | €3,074 | +€3,074 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €528 | €686 | +€158 | +29.9% |
| Other operating charges | 640/8 | €3,838 | €1,712 | -€2,126 | -55.4% |
| Gross operating margin | 9900 | €132,486 | €264,936 | +€132,449 | +100.0% |
| Operating profit (loss) | 9901 | €128,120 | €262,538 | +€134,418 | +105% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €12,354 | €35,222 | +€22,868 | +185% |
| Recurring financial charges | 65 | €12,354 | €35,222 | +€22,868 | +185% |
| Profit (loss) for the period before taxes | 9903 | €115,766 | €227,324 | +€111,558 | +96.4% |
| Income taxes | 67/77 | €32,249 | €68,014 | +€35,765 | +111% |
| Profit (loss) for the period | 9904 | €83,516 | €159,309 | +€75,793 | +90.8% |
| Profit (loss) for the period to be appropriated | 9905 | €83,516 | €159,309 | +€75,793 | +90.8% |
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 18 October 2026 via checked.be.