pepps engineering: 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.
pepps engineering
Largest movements
- Current investments +€568,307
up €568,307 (+269.9%), from €210,570 to €778,878
- Receivables within one year +€397,274
up €397,274 (+108.9%), from €364,966 to €762,239
of which Trade receivables: +€383,189
- Cash -€240,299
down €240,299 (-31.9%), from €752,894 to €512,595
mainly Current investments (-€568,307) and Receivables within one year (-€397,274)
- Tangible fixed assets +€114,196
up €114,196 (+74.1%), from €154,046 to €268,242
of which Furniture and vehicles: +€111,775
- Receivables after one year +€50,000
new in 2025: €50,000
- Reserves +€1.3m
new in 2025: €1.3m
- Profit (loss) carried forward -€800,308
down €800,308 (-99.2%), from €807,016 to €6,707
- Other debts +€112,000
new in 2025: €112,000
- Debts after one year +€101,584
up €101,584 (+409.7%), from €24,796 to €126,380
- Accrued charges and deferred income +€70,617
up €70,617 (+28.5%), from €248,059 to €318,676
- Gross operating margin +€317,300
up €317,300 (+24.3%), from €1.3m to €1.6m
- Staff costs +€241,138
up €241,138 (+38.0%), from €634,963 to €876,101
- Depreciation +€29,333
up €29,333 (+44.9%), from €65,305 to €94,638
- Taxes -€16,736
down €16,736 (-18.1%), from €92,690 to €75,955
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 | €1,528,877 | €2,417,745 | +€888,868 | +58.1% |
| Fixed assets | 21/28 | €168,704 | €282,901 | +€114,196 | +67.7% |
| Tangible fixed assets | 22/27 | €154,046 | €268,242 | +€114,196 | +74.1% |
| Plant, machinery and equipment | 23 | - | €3,854 | +€3,854 | |
| Furniture and vehicles | 24 | €138,892 | €250,667 | +€111,775 | +80.5% |
| Other tangible fixed assets | 26 | €15,154 | €13,720 | -€1,433 | -9.5% |
| Financial fixed assets | 28 | €14,659 | €14,659 | = | 0.0% |
| Current assets | 29/58 | €1,360,173 | €2,134,844 | +€774,671 | +57.0% |
| Amounts receivable after more than one year | 29 | - | €50,000 | +€50,000 | |
| Other amounts receivable | 291 | - | €50,000 | +€50,000 | |
| Amounts receivable within one year | 40/41 | €364,966 | €762,239 | +€397,274 | +108.9% |
| Trade receivables | 40 | €357,443 | €740,632 | +€383,189 | +107.2% |
| Other amounts receivable | 41 | €7,522 | €21,607 | +€14,085 | +187.2% |
| Current investments | 50/53 | €210,570 | €778,878 | +€568,307 | +269.9% |
| Cash at bank and in hand | 54/58 | €752,894 | €512,595 | -€240,299 | -31.9% |
| Deferred charges and accrued income | 490/1 | €31,742 | €31,132 | -€610 | -1.9% |
| Total equity and liabilities | 10/49 | €1,528,877 | €2,417,745 | +€888,868 | +58.1% |
| Equity | 10/15 | €834,616 | €1,284,307 | +€449,692 | +53.9% |
| Contributions | 10/11 | €27,600 | €27,600 | = | 0.0% |
| Reserves | 13 | - | €1,250,000 | +€1.3m | |
| Distributable reserves | 133 | - | €1,250,000 | +€1.3m | |
| Profit (loss) carried forward | 14 | €807,016 | €6,707 | -€800,308 | -99.2% |
| Amounts payable | 17/49 | €694,261 | €1,133,437 | +€439,176 | +63.3% |
| Amounts payable after more than one year | 17 | €24,796 | €126,380 | +€101,584 | +409.7% |
| Financial debts | 170/4 | €24,796 | €126,380 | +€101,584 | +409.7% |
| Amounts payable within one year | 42/48 | €421,405 | €688,381 | +€266,975 | +63.4% |
| Current portion of amounts payable after more than one year | 42 | €50,770 | €93,506 | +€42,736 | +84.2% |
| Trade debts | 44 | €192,100 | €259,899 | +€67,799 | +35.3% |
| Suppliers | 440/4 | €192,100 | €259,899 | +€67,799 | +35.3% |
| Taxes, remuneration and social security | 45 | €178,536 | €222,976 | +€44,440 | +24.9% |
| Taxes | 450/3 | €118,756 | €138,351 | +€19,594 | +16.5% |
| Remuneration and social security | 454/9 | €59,779 | €84,625 | +€24,846 | +41.6% |
| Other amounts payable | 47/48 | - | €112,000 | +€112,000 | |
| Accrued charges and deferred income | 492/3 | €248,059 | €318,676 | +€70,617 | +28.5% |
| Non-recurring operating income | 76A | - | €2,399 | +€2,399 | |
| Remuneration, social security and pensions | 62 | €634,963 | €876,101 | +€241,138 | +38.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,305 | €94,638 | +€29,333 | +44.9% |
| Other operating charges | 640/8 | €5,605 | €8,314 | +€2,708 | +48.3% |
| Gross operating margin | 9900 | €1,306,017 | €1,623,317 | +€317,300 | +24.3% |
| Operating profit (loss) | 9901 | €600,144 | €644,264 | +€44,120 | +7.4% |
| Financial income | 75/76B | €5,197 | €6,308 | +€1,111 | +21.4% |
| Recurring financial income | 75 | €5,197 | €3,280 | -€1,917 | -36.9% |
| Non-recurring financial income | 76B | - | €3,028 | +€3,028 | |
| Financial charges | 65/66B | €5,976 | €12,926 | +€6,949 | +116.3% |
| Recurring financial charges | 65 | €5,976 | €10,944 | +€4,968 | +83.1% |
| Non-recurring financial charges | 66B | - | €1,982 | +€1,982 | |
| Profit (loss) for the period before taxes | 9903 | €599,364 | €637,646 | +€38,282 | +6.4% |
| Income taxes | 67/77 | €92,690 | €75,955 | -€16,736 | -18.1% |
| Profit (loss) for the period | 9904 | €506,674 | €561,692 | +€55,018 | +10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €506,674 | €561,692 | +€55,018 | +10.9% |
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 29 September 2026 via checked.be.