Pepper Republic: 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.
Pepper Republic
Largest movements
- Cash -€109,607
down €109,607 (-62.7%), from €174,742 to €65,134
mainly Trade debts (-€97,275) and Net result for the year (-€7,644)
- Receivables within one year +€6,820
up €6,820 (+47.5%), from €14,355 to €21,175
of which Trade receivables: +€21,175
- Trade debts -€97,275
down €97,275 (-62.3%), from €156,044 to €58,769
- Reserves -€7,644
down €7,644 (-97.8%), from €7,820 to €176
- Other debts +€2,210
new in 2025: €2,210
- Gross operating margin -€10,260
down €10,260, from €2,985 to -€7,275
- Taxes -€4,996
down €4,996 (-95.4%), from €5,237 to €241
- Depreciation -€368
down €368 (-34.9%), from €1,056 to €688
- Financial charges +€125
up €125 (+70.1%), from €178 to €302
- Other operating charges -€112
down €112 (-26.3%), from €424 to €312
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 | €189,573 | €87,233 | -€102,339 | -54.0% |
| Fixed assets | 21/28 | €476 | €924 | +€448 | +94.3% |
| Tangible fixed assets | 22/27 | €476 | €924 | +€448 | +94.3% |
| Furniture and vehicles | 24 | €476 | €924 | +€448 | +94.3% |
| Current assets | 29/58 | €189,097 | €86,309 | -€102,788 | -54.4% |
| Amounts receivable within one year | 40/41 | €14,355 | €21,175 | +€6,820 | +47.5% |
| Trade receivables | 40 | - | €21,175 | +€21,175 | |
| Other amounts receivable | 41 | €14,355 | - | -€14,355 | |
| Cash at bank and in hand | 54/58 | €174,742 | €65,134 | -€109,607 | -62.7% |
| Total equity and liabilities | 10/49 | €189,573 | €87,233 | -€102,339 | -54.0% |
| Equity | 10/15 | €26,420 | €18,776 | -€7,644 | -28.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,820 | €176 | -€7,644 | -97.8% |
| Distributable reserves | 133 | €7,820 | €176 | -€7,644 | -97.8% |
| Amounts payable | 17/49 | €163,153 | €68,458 | -€94,695 | -58.0% |
| Amounts payable within one year | 42/48 | €163,153 | €68,458 | -€94,695 | -58.0% |
| Trade debts | 44 | €156,044 | €58,769 | -€97,275 | -62.3% |
| Suppliers | 440/4 | €156,044 | €58,769 | -€97,275 | -62.3% |
| Taxes, remuneration and social security | 45 | €7,109 | €7,479 | +€370 | +5.2% |
| Taxes | 450/3 | €7,109 | €7,479 | +€370 | +5.2% |
| Other amounts payable | 47/48 | - | €2,210 | +€2,210 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,056 | €688 | -€368 | -34.9% |
| Other operating charges | 640/8 | €424 | €312 | -€112 | -26.3% |
| Gross operating margin | 9900 | €2,985 | -€7,275 | -€10,260 | |
| Operating profit (loss) | 9901 | €1,505 | -€8,275 | -€9,780 | |
| Financial income | 75/76B | €1,223 | €1,175 | -€48 | -3.9% |
| Recurring financial income | 75 | €1,223 | €1,175 | -€48 | -3.9% |
| Financial charges | 65/66B | €178 | €302 | +€125 | +70.1% |
| Recurring financial charges | 65 | €178 | €302 | +€125 | +70.1% |
| Profit (loss) for the period before taxes | 9903 | €2,550 | -€7,403 | -€9,953 | |
| Income taxes | 67/77 | €5,237 | €241 | -€4,996 | -95.4% |
| Profit (loss) for the period | 9904 | -€2,687 | -€7,644 | -€4,957 | -184.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,687 | -€7,644 | -€4,957 | -184.5% |
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 8 October 2026 via checked.be.