Pepper Ted: 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.
Pepper Ted
Largest movements
- Receivables within one year -€4,800
no longer reported in 2025 (was €4,800)
- Deferred charges and accrued income +€4,800
new in 2025: €4,800
- Tangible fixed assets -€2,020
down €2,020 (-19.3%), from €10,467 to €8,447
- Profit (loss) carried forward -€2,841
down €2,841 (-47.2%), from -€6,016 to -€8,857
- Short-term financial debts +€820
up €820 (+99.7%), from €823 to €1,644
of which Credit institutions: +€921
- Gross operating margin +€6,280
up €6,280 (+89.3%), from -€7,035 to -€756
- Depreciation -€1,532
down €1,532 (-43.1%), from €3,553 to €2,020
- Other operating charges -€357
no longer reported in 2025 (was €357)
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,267 | €13,247 | -€2,020 | -13.2% |
| Fixed assets | 21/28 | €10,467 | €8,447 | -€2,020 | -19.3% |
| Tangible fixed assets | 22/27 | €10,467 | €8,447 | -€2,020 | -19.3% |
| Plant, machinery and equipment | 23 | €10,467 | €8,447 | -€2,020 | -19.3% |
| Current assets | 29/58 | €4,800 | €4,800 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,800 | - | -€4,800 | |
| Other amounts receivable | 41 | €4,800 | - | -€4,800 | |
| Deferred charges and accrued income | 490/1 | - | €4,800 | +€4,800 | |
| Total equity and liabilities | 10/49 | €15,267 | €13,247 | -€2,020 | -13.2% |
| Equity | 10/15 | €14,444 | €11,603 | -€2,841 | -19.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,016 | -€8,857 | -€2,841 | -47.2% |
| Amounts payable | 17/49 | €823 | €1,644 | +€820 | +99.7% |
| Amounts payable within one year | 42/48 | €823 | €1,644 | +€820 | +99.7% |
| Financial debts | 43 | €823 | €1,644 | +€820 | +99.7% |
| Credit institutions | 430/8 | €723 | €1,644 | +€921 | +127% |
| Other loans | 439 | €100 | - | -€100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,553 | €2,020 | -€1,532 | -43.1% |
| Other operating charges | 640/8 | €357 | - | -€357 | |
| Gross operating margin | 9900 | -€7,035 | -€756 | +€6,280 | +89.3% |
| Operating profit (loss) | 9901 | -€10,945 | -€2,776 | +€8,169 | +74.6% |
| Financial charges | 65/66B | - | €65 | +€65 | |
| Recurring financial charges | 65 | - | €65 | +€65 | |
| Profit (loss) for the period before taxes | 9903 | -€10,945 | -€2,841 | +€8,104 | +74.0% |
| Profit (loss) for the period | 9904 | -€10,945 | -€2,841 | +€8,104 | +74.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,945 | -€2,841 | +€8,104 | +74.0% |
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 21 October 2026 via checked.be.