PEPPERONI: 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.
PEPPERONI
Largest movements
- Receivables within one year -€35,156
down €35,156 (-95.6%), from €36,780 to €1,624
- Current investments +€32,504
new in 2025: €32,504
- Cash -€7,838
down €7,838 (-73.1%), from €10,723 to €2,885
mainly Contributions, distributions and other (-€79,682) and Current investments (-€32,504)
- Deferred charges and accrued income -€2,853
no longer reported in 2025 (was €2,853)
- Debts after one year -€26,788
down €26,788 (-16.8%), from €159,869 to €133,081
- Other debts +€21,700
up €21,700 (+1283.3%), from €1,691 to €23,391
- Profit (loss) carried forward -€16,377
no longer reported in 2025 (was €16,377)
- Trade debts +€12,387
up €12,387 (+136.2%), from €9,098 to €21,485
- Tax, wage and social debts -€4,960
down €4,960 (-24.2%), from €20,479 to €15,519
- Financial income -€7,370
down €7,370 (-20.0%), from €36,788 to €29,418
- Financial charges -€3,995
down €3,995 (-31.7%), from €12,608 to €8,613
- Gross operating margin -€3,279
down €3,279 (-5.4%), from €60,525 to €57,246
- Taxes +€2,738
up €2,738 (+26.5%), from €10,317 to €13,055
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 | €253,636 | €240,724 | -€12,912 | -5.1% |
| Fixed assets | 21/28 | €203,280 | €203,711 | +€431 | +0.2% |
| Tangible fixed assets | 22/27 | €3,280 | €3,711 | +€431 | +13.1% |
| Furniture and vehicles | 24 | €404 | €1,329 | +€925 | +229.0% |
| Other tangible fixed assets | 26 | €2,876 | €2,382 | -€494 | -17.2% |
| Financial fixed assets | 28 | €200,000 | €200,000 | = | 0.0% |
| Current assets | 29/58 | €50,356 | €37,013 | -€13,343 | -26.5% |
| Amounts receivable within one year | 40/41 | €36,780 | €1,624 | -€35,156 | -95.6% |
| Other amounts receivable | 41 | €36,780 | €1,624 | -€35,156 | -95.6% |
| Current investments | 50/53 | - | €32,504 | +€32,504 | |
| Cash at bank and in hand | 54/58 | €10,723 | €2,885 | -€7,838 | -73.1% |
| Deferred charges and accrued income | 490/1 | €2,853 | - | -€2,853 | |
| Total equity and liabilities | 10/49 | €253,636 | €240,724 | -€12,912 | -5.1% |
| Equity | 10/15 | €36,837 | €20,460 | -€16,377 | -44.5% |
| Contributions | 10/11 | €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% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,377 | - | -€16,377 | |
| Amounts payable | 17/49 | €216,799 | €220,264 | +€3,465 | +1.6% |
| Amounts payable after more than one year | 17 | €159,869 | €133,081 | -€26,788 | -16.8% |
| Financial debts | 170/4 | €159,869 | €133,081 | -€26,788 | -16.8% |
| Amounts payable within one year | 42/48 | €56,930 | €87,183 | +€30,253 | +53.1% |
| Current portion of amounts payable after more than one year | 42 | €25,662 | €26,788 | +€1,126 | +4.4% |
| Trade debts | 44 | €9,098 | €21,485 | +€12,387 | +136.2% |
| Suppliers | 440/4 | €9,098 | €21,485 | +€12,387 | +136.2% |
| Taxes, remuneration and social security | 45 | €20,479 | €15,519 | -€4,960 | -24.2% |
| Taxes | 450/3 | €20,479 | €15,519 | -€4,960 | -24.2% |
| Other amounts payable | 47/48 | €1,691 | €23,391 | +€21,700 | +1283.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €723 | €907 | +€184 | +25.4% |
| Other operating charges | 640/8 | €845 | €784 | -€61 | -7.2% |
| Gross operating margin | 9900 | €60,525 | €57,246 | -€3,279 | -5.4% |
| Operating profit (loss) | 9901 | €58,957 | €55,555 | -€3,402 | -5.8% |
| Financial income | 75/76B | €36,788 | €29,418 | -€7,370 | -20.0% |
| Recurring financial income | 75 | €36,788 | €29,418 | -€7,370 | -20.0% |
| Financial charges | 65/66B | €12,608 | €8,613 | -€3,995 | -31.7% |
| Recurring financial charges | 65 | €12,608 | €8,613 | -€3,995 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €83,137 | €76,360 | -€6,777 | -8.2% |
| Income taxes | 67/77 | €10,317 | €13,055 | +€2,738 | +26.5% |
| Profit (loss) for the period | 9904 | €72,820 | €63,305 | -€9,515 | -13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €72,820 | €63,305 | -€9,515 | -13.1% |
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 6 October 2026 via checked.be.