PEPS 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.
PEPS ENGINEERING
Largest movements
- Receivables within one year -€564,188
down €564,188 (-57.8%), from €975,279 to €411,091
of which Other amounts receivable: -€294,042
- Intangible fixed assets -€75,676
down €75,676 (-29.4%), from €257,328 to €181,652
- Cash +€43,206
up €43,206 (+82.7%), from €52,257 to €95,463
mainly Receivables within one year (+€564,188) and Short-term financial debts (+€233,083)
- Stocks and contracts -€17,200
no longer reported in 2025 (was €17,200)
- Profit (loss) carried forward -€367,400
no longer reported in 2025 (was €367,400)
- Short-term financial debts +€233,083
up €233,083 (+1377.8%), from €16,917 to €250,000
- Debts after one year -€156,468
down €156,468 (-69.8%), from €224,126 to €67,659
of which Other amounts payable: -€148,630
- Trade debts -€112,320
down €112,320 (-41.8%), from €268,932 to €156,612
- Tax, wage and social debts -€74,505
down €74,505 (-68.8%), from €108,324 to €33,819
of which Taxes: -€38,766
- Gross operating margin -€712,247
down €712,247, from €687,061 to -€25,186
- Staff costs -€95,751
down €95,751 (-25.0%), from €382,346 to €286,595
- Write-downs +€30,242
new in 2025: €30,242
- Taxes -€26,807
no longer reported in 2025 (was €26,807)
- Depreciation +€25,684
up €25,684 (+22.1%), from €116,065 to €141,749
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 | €1,385,402 | €750,592 | -€634,810 | -45.8% |
| Fixed assets | 21/28 | €276,113 | €191,540 | -€84,573 | -30.6% |
| Intangible fixed assets | 21 | €257,328 | €181,652 | -€75,676 | -29.4% |
| Tangible fixed assets | 22/27 | €9,566 | €2,747 | -€6,819 | -71.3% |
| Furniture and vehicles | 24 | €9,566 | €2,747 | -€6,819 | -71.3% |
| Financial fixed assets | 28 | €9,219 | €7,141 | -€2,078 | -22.5% |
| Current assets | 29/58 | €1,109,289 | €559,053 | -€550,237 | -49.6% |
| Amounts receivable after more than one year | 29 | €6,077 | €6,155 | +€77 | +1.3% |
| Other amounts receivable | 291 | €6,077 | €6,155 | +€77 | +1.3% |
| Stocks and contracts in progress | 3 | €17,200 | - | -€17,200 | |
| Contracts in progress | 37 | €17,200 | - | -€17,200 | |
| Amounts receivable within one year | 40/41 | €975,279 | €411,091 | -€564,188 | -57.8% |
| Trade receivables | 40 | €655,428 | €385,281 | -€270,146 | -41.2% |
| Other amounts receivable | 41 | €319,851 | €25,810 | -€294,042 | -91.9% |
| Cash at bank and in hand | 54/58 | €52,257 | €95,463 | +€43,206 | +82.7% |
| Deferred charges and accrued income | 490/1 | €58,476 | €46,344 | -€12,133 | -20.7% |
| Total equity and liabilities | 10/49 | €1,385,402 | €750,592 | -€634,810 | -45.8% |
| Equity | 10/15 | €698,512 | €227,765 | -€470,747 | -67.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €159,422 | €101,792 | -€57,629 | -36.1% |
| Distributable reserves | 133 | €159,422 | €101,792 | -€57,629 | -36.1% |
| Profit (loss) carried forward | 14 | €367,400 | - | -€367,400 | |
| Investment grants | 15 | €153,090 | €107,372 | -€45,717 | -29.9% |
| Amounts payable | 17/49 | €686,891 | €522,827 | -€164,063 | -23.9% |
| Amounts payable after more than one year | 17 | €224,126 | €67,659 | -€156,468 | -69.8% |
| Financial debts | 170/4 | €7,838 | - | -€7,838 | |
| Other amounts payable | 178/9 | €216,288 | €67,659 | -€148,630 | -68.7% |
| Amounts payable within one year | 42/48 | €459,342 | €449,569 | -€9,773 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €16,719 | €9,137 | -€7,582 | -45.4% |
| Financial debts | 43 | €16,917 | €250,000 | +€233,083 | +1377.8% |
| Credit institutions | 430/8 | €16,917 | €250,000 | +€233,083 | +1377.8% |
| Trade debts | 44 | €268,932 | €156,612 | -€112,320 | -41.8% |
| Suppliers | 440/4 | €268,932 | €156,612 | -€112,320 | -41.8% |
| Taxes, remuneration and social security | 45 | €108,324 | €33,819 | -€74,505 | -68.8% |
| Taxes | 450/3 | €51,956 | €13,190 | -€38,766 | -74.6% |
| Remuneration and social security | 454/9 | €56,368 | €20,630 | -€35,739 | -63.4% |
| Other amounts payable | 47/48 | €48,450 | - | -€48,450 | |
| Accrued charges and deferred income | 492/3 | €3,422 | €5,600 | +€2,178 | +63.6% |
| Remuneration, social security and pensions | 62 | €382,346 | €286,595 | -€95,751 | -25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,065 | €141,749 | +€25,684 | +22.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €30,242 | +€30,242 | |
| Other operating charges | 640/8 | €8,302 | €2,579 | -€5,722 | -68.9% |
| Gross operating margin | 9900 | €687,061 | -€25,186 | -€712,247 | |
| Operating profit (loss) | 9901 | €180,349 | -€486,351 | -€666,700 | |
| Financial income | 75/76B | €66,771 | €82,950 | +€16,179 | +24.2% |
| Recurring financial income | 75 | €66,771 | €82,950 | +€16,179 | +24.2% |
| Financial charges | 65/66B | €37,565 | €21,629 | -€15,936 | -42.4% |
| Recurring financial charges | 65 | €37,565 | €21,629 | -€15,936 | -42.4% |
| Profit (loss) for the period before taxes | 9903 | €209,555 | -€425,030 | -€634,584 | |
| Income taxes | 67/77 | €26,807 | - | -€26,807 | |
| Profit (loss) for the period | 9904 | €182,748 | -€425,030 | -€607,777 | |
| Profit (loss) for the period to be appropriated | 9905 | €182,748 | -€425,030 | -€607,777 |
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 2 October 2026 via checked.be.