PEPPAR: what changed
Two fiscal 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.
PEPPAR
Largest movements
- Stocks and contracts -€11,140
down €11,140 (-39.7%), from €28,068 to €16,928
- Tangible fixed assets +€5,667
up €5,667 (+57.6%), from €9,836 to €15,503
- Trade debts -€13,520
down €13,520 (-59.7%), from €22,638 to €9,118
- Profit (loss) carried forward +€12,245
up €12,245 (+73.5%), from -€16,652 to -€4,407
- Tax, wage and social debts -€4,124
down €4,124 (-60.4%), from €6,824 to €2,699
- Gross operating margin +€31,878
up €31,878, from -€4,627 to €27,251
- Depreciation +€2,201
up €2,201 (+1342.6%), from €164 to €2,365
- Financial charges +€2,036
up €2,036 (+618.0%), from €329 to €2,365
- Financial income +€1,552
up €1,552 (+647.2%), from €240 to €1,792
- Other operating charges +€274
up €274 (+43.4%), from €631 to €906
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 | €110,859 | €105,459 | -€5,400 | -4.9% |
| Fixed assets | 21/28 | €9,836 | €15,503 | +€5,667 | +57.6% |
| Tangible fixed assets | 22/27 | €9,836 | €15,503 | +€5,667 | +57.6% |
| Plant, machinery and equipment | 23 | €9,836 | €15,503 | +€5,667 | +57.6% |
| Current assets | 29/58 | €101,023 | €89,956 | -€11,067 | -11.0% |
| Stocks and contracts in progress | 3 | €28,068 | €16,928 | -€11,140 | -39.7% |
| Stocks | 30/36 | €28,068 | €16,928 | -€11,140 | -39.7% |
| Amounts receivable within one year | 40/41 | €71,327 | €71,282 | -€45 | -0.1% |
| Trade receivables | 40 | €20,984 | €3,608 | -€17,376 | -82.8% |
| Other amounts receivable | 41 | €50,343 | €67,674 | +€17,331 | +34.4% |
| Cash at bank and in hand | 54/58 | €1,628 | €1,746 | +€118 | +7.3% |
| Total equity and liabilities | 10/49 | €110,859 | €105,459 | -€5,400 | -4.9% |
| Equity | 10/15 | €26,397 | €38,642 | +€12,245 | +46.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,449 | €24,449 | = | 0.0% |
| Distributable reserves | 133 | €24,449 | €24,449 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,652 | -€4,407 | +€12,245 | +73.5% |
| Amounts payable | 17/49 | €84,461 | €66,817 | -€17,645 | -20.9% |
| Amounts payable after more than one year | 17 | €55,000 | €55,000 | = | 0.0% |
| Financial debts | 170/4 | €55,000 | €55,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €29,461 | €11,817 | -€17,645 | -59.9% |
| Trade debts | 44 | €22,638 | €9,118 | -€13,520 | -59.7% |
| Suppliers | 440/4 | €22,638 | €9,118 | -€13,520 | -59.7% |
| Taxes, remuneration and social security | 45 | €6,824 | €2,699 | -€4,124 | -60.4% |
| Taxes | 450/3 | €6,824 | €2,699 | -€4,124 | -60.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €164 | €2,365 | +€2,201 | +1342.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,140 | €11,140 | = | 0.0% |
| Other operating charges | 640/8 | €631 | €906 | +€274 | +43.4% |
| Gross operating margin | 9900 | -€4,627 | €27,251 | +€31,878 | |
| Operating profit (loss) | 9901 | -€16,562 | €12,840 | +€29,403 | |
| Financial income | 75/76B | €240 | €1,792 | +€1,552 | +647.2% |
| Recurring financial income | 75 | €240 | €1,792 | +€1,552 | +647.2% |
| Financial charges | 65/66B | €329 | €2,365 | +€2,036 | +618.0% |
| Recurring financial charges | 65 | €329 | €2,365 | +€2,036 | +618.0% |
| Profit (loss) for the period before taxes | 9903 | -€16,652 | €12,268 | +€28,919 | |
| Income taxes | 67/77 | €0 | €23 | +€23 | |
| Profit (loss) for the period | 9904 | -€16,652 | €12,245 | +€28,897 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,652 | €12,245 | +€28,897 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.