Pepi & Lolo: 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.
Pepi & Lolo
Largest movements
- Cash -€49,068
down €49,068 (-60.5%), from €81,092 to €32,023
mainly Trade debts (-€42,036) and Net result for the year (-€26,812)
- Receivables within one year -€32,818
down €32,818 (-52.5%), from €62,468 to €29,650
of which Trade receivables: -€32,818
- Tangible fixed assets -€4,566
down €4,566 (-32.8%), from €13,930 to €9,364
of which Plant, machinery and equipment: -€5,639
- Trade debts -€42,036
down €42,036 (-78.2%), from €53,733 to €11,697
- Profit (loss) carried forward -€26,812
down €26,812, from €3,903 to -€22,909
- Other debts -€9,116
down €9,116 (-28.7%), from €31,757 to €22,641
- Tax, wage and social debts -€8,203
down €8,203 (-31.9%), from €25,711 to €17,508
of which Taxes: -€10,808
- Staff costs +€49,123
up €49,123 (+113%), from €43,405 to €92,528
- Gross operating margin -€13,576
down €13,576 (-15.4%), from €87,986 to €74,410
- Taxes -€12,948
down €12,948 (-100.0%), from €12,948 to €0
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 | €158,869 | €72,314 | -€86,555 | -54.5% |
| Fixed assets | 21/28 | €15,309 | €10,640 | -€4,669 | -30.5% |
| Intangible fixed assets | 21 | €250 | €150 | -€100 | -40.0% |
| Tangible fixed assets | 22/27 | €13,930 | €9,364 | -€4,566 | -32.8% |
| Plant, machinery and equipment | 23 | €5,639 | - | -€5,639 | |
| Furniture and vehicles | 24 | €5,921 | €3,173 | -€2,748 | -46.4% |
| Other tangible fixed assets | 26 | €2,370 | €2,012 | -€358 | -15.1% |
| Assets under construction and advance payments | 27 | - | €4,179 | +€4,179 | |
| Financial fixed assets | 28 | €1,129 | €1,127 | -€3 | -0.2% |
| Current assets | 29/58 | €143,560 | €61,674 | -€81,886 | -57.0% |
| Amounts receivable within one year | 40/41 | €62,468 | €29,650 | -€32,818 | -52.5% |
| Trade receivables | 40 | €59,416 | €26,598 | -€32,818 | -55.2% |
| Other amounts receivable | 41 | €3,052 | €3,052 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €81,092 | €32,023 | -€49,068 | -60.5% |
| Total equity and liabilities | 10/49 | €158,869 | €72,314 | -€86,555 | -54.5% |
| Equity | 10/15 | €47,281 | €20,468 | -€26,812 | -56.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,778 | €24,778 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €22,918 | €22,918 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,903 | -€22,909 | -€26,812 | |
| Amounts payable | 17/49 | €111,589 | €51,846 | -€59,743 | -53.5% |
| Amounts payable within one year | 42/48 | €111,201 | €51,846 | -€59,355 | -53.4% |
| Trade debts | 44 | €53,733 | €11,697 | -€42,036 | -78.2% |
| Suppliers | 440/4 | €53,733 | €11,697 | -€42,036 | -78.2% |
| Taxes, remuneration and social security | 45 | €25,711 | €17,508 | -€8,203 | -31.9% |
| Taxes | 450/3 | €22,554 | €11,746 | -€10,808 | -47.9% |
| Remuneration and social security | 454/9 | €3,157 | €5,762 | +€2,605 | +82.5% |
| Other amounts payable | 47/48 | €31,757 | €22,641 | -€9,116 | -28.7% |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Remuneration, social security and pensions | 62 | €43,405 | €92,528 | +€49,123 | +113% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,454 | €5,504 | +€50 | +0.9% |
| Other operating charges | 640/8 | €1,146 | €1,335 | +€189 | +16.5% |
| Gross operating margin | 9900 | €87,986 | €74,410 | -€13,576 | -15.4% |
| Operating profit (loss) | 9901 | €37,980 | -€24,958 | -€62,938 | |
| Financial income | 75/76B | €16 | €1 | -€16 | -96.6% |
| Recurring financial income | 75 | €16 | €1 | -€16 | -96.6% |
| Financial charges | 65/66B | €2,130 | €1,855 | -€276 | -12.9% |
| Recurring financial charges | 65 | €2,130 | €1,855 | -€276 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | €35,866 | -€26,812 | -€62,678 | |
| Income taxes | 67/77 | €12,948 | €0 | -€12,948 | -100.0% |
| Profit (loss) for the period | 9904 | €22,918 | -€26,812 | -€49,730 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,918 | -€26,812 | -€49,730 |
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 26 October 2026 via checked.be.