PEPO: 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.
PEPO
Largest movements
- Cash +€5,192
up €5,192 (+59.3%), from €8,754 to €13,946
mainly Trade debts (+€4,741) and Receivables within one year (+€4,702)
- Receivables within one year -€4,702
down €4,702 (-22.9%), from €20,566 to €15,864
of which Trade receivables: -€3,301
- Stocks and contracts -€1,251
down €1,251 (-17.4%), from €7,189 to €5,938
- Tangible fixed assets -€1,174
down €1,174 (-43.2%), from €2,718 to €1,544
- Profit (loss) carried forward -€7,038
down €7,038 (-82.0%), from €8,579 to €1,541
- Trade debts +€4,741
up €4,741, from €0 to €4,741
- Gross operating margin -€7,324
down €7,324 (-87.6%), from €8,364 to €1,039
- Other operating charges +€692
up €692 (+11.9%), from €5,824 to €6,516
- Staff costs +€385
new in 2025: €385
- Financial charges -€88
down €88 (-96.8%), from €91 to €3
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 | €39,763 | €37,836 | -€1,927 | -4.8% |
| Fixed assets | 21/28 | €2,718 | €1,544 | -€1,174 | -43.2% |
| Tangible fixed assets | 22/27 | €2,718 | €1,544 | -€1,174 | -43.2% |
| Other tangible fixed assets | 26 | €2,718 | €1,544 | -€1,174 | -43.2% |
| Current assets | 29/58 | €37,046 | €36,292 | -€753 | -2.0% |
| Stocks and contracts in progress | 3 | €7,189 | €5,938 | -€1,251 | -17.4% |
| Stocks | 30/36 | €7,189 | €5,938 | -€1,251 | -17.4% |
| Amounts receivable within one year | 40/41 | €20,566 | €15,864 | -€4,702 | -22.9% |
| Trade receivables | 40 | €19,165 | €15,864 | -€3,301 | -17.2% |
| Other amounts receivable | 41 | €1,401 | €0 | -€1,401 | -100% |
| Cash at bank and in hand | 54/58 | €8,754 | €13,946 | +€5,192 | +59.3% |
| Deferred charges and accrued income | 490/1 | €537 | €544 | +€7 | +1.3% |
| Total equity and liabilities | 10/49 | €39,763 | €37,836 | -€1,927 | -4.8% |
| Equity | 10/15 | €27,179 | €20,141 | -€7,038 | -25.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,579 | €1,541 | -€7,038 | -82.0% |
| Amounts payable | 17/49 | €12,584 | €17,695 | +€5,111 | +40.6% |
| Amounts payable after more than one year | 17 | €7,276 | €7,276 | = | 0.0% |
| Financial debts | 170/4 | €7,276 | €7,276 | = | 0.0% |
| Amounts payable within one year | 42/48 | €5,309 | €10,420 | +€5,111 | +96.3% |
| Trade debts | 44 | €0 | €4,741 | +€4,741 | |
| Suppliers | 440/4 | €0 | €4,741 | +€4,741 | |
| Taxes, remuneration and social security | 45 | €0 | €354 | +€354 | |
| Taxes | 450/3 | €0 | €354 | +€354 | |
| Other amounts payable | 47/48 | €5,309 | €5,324 | +€15 | +0.3% |
| Remuneration, social security and pensions | 62 | - | €385 | +€385 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,174 | €1,174 | = | 0.0% |
| Other operating charges | 640/8 | €5,824 | €6,516 | +€692 | +11.9% |
| Gross operating margin | 9900 | €8,364 | €1,039 | -€7,324 | -87.6% |
| Operating profit (loss) | 9901 | €1,365 | -€7,036 | -€8,402 | |
| Financial income | 75/76B | €9 | €1 | -€8 | -88.9% |
| Recurring financial income | 75 | €9 | €1 | -€8 | -88.9% |
| Financial charges | 65/66B | €91 | €3 | -€88 | -96.8% |
| Recurring financial charges | 65 | €91 | €3 | -€88 | -96.8% |
| Profit (loss) for the period before taxes | 9903 | €1,283 | -€7,038 | -€8,322 | |
| Profit (loss) for the period | 9904 | €1,283 | -€7,038 | -€8,322 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,283 | -€7,038 | -€8,322 |
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.