PEPS EVENTS: 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.
PEPS EVENTS
Largest movements
- Tangible fixed assets -€5,773
down €5,773 (-7.9%), from €73,416 to €67,643
of which Other tangible fixed assets: -€4,995
- Receivables within one year +€1,056
up €1,056 (+70.2%), from €1,504 to €2,560
of which Trade receivables: +€1,387
- Stocks and contracts +€842
up €842 (+61.0%), from €1,381 to €2,223
- Other debts +€18,983
up €18,983 (+23.0%), from €82,500 to €101,483
- Debts after one year -€18,422
down €18,422 (-68.7%), from €26,816 to €8,394
- Profit (loss) carried forward -€7,448
down €7,448 (-9.6%), from -€77,946 to -€85,394
- Trade debts +€1,540
up €1,540 (+270%), from €570 to €2,110
- Tax, wage and social debts +€1,384
new in 2025: €1,384
- Gross operating margin +€5,853
up €5,853 (+65.7%), from €8,904 to €14,756
- Other operating charges +€1,892
up €1,892 (+65.7%), from €2,880 to €4,772
- Depreciation +€859
up €859 (+5.4%), from €15,796 to €16,655
- Financial charges -€212
down €212 (-21.4%), from €990 to €778
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
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 | €79,845 | €76,780 | -€3,065 | -3.8% |
| Formation expenses | 20 | €504 | €267 | -€237 | -46.9% |
| Fixed assets | 21/28 | €73,416 | €67,643 | -€5,773 | -7.9% |
| Tangible fixed assets | 22/27 | €73,416 | €67,643 | -€5,773 | -7.9% |
| Plant, machinery and equipment | 23 | €2,419 | €4,371 | +€1,952 | +80.7% |
| Furniture and vehicles | 24 | €50,038 | €47,309 | -€2,729 | -5.5% |
| Other tangible fixed assets | 26 | €20,959 | €15,963 | -€4,995 | -23.8% |
| Current assets | 29/58 | €5,925 | €8,869 | +€2,944 | +49.7% |
| Stocks and contracts in progress | 3 | €1,381 | €2,223 | +€842 | +61.0% |
| Stocks | 30/36 | €1,381 | €2,223 | +€842 | +61.0% |
| Amounts receivable within one year | 40/41 | €1,504 | €2,560 | +€1,056 | +70.2% |
| Trade receivables | 40 | €582 | €1,969 | +€1,387 | +238% |
| Other amounts receivable | 41 | €922 | €591 | -€331 | -35.9% |
| Cash at bank and in hand | 54/58 | €1,785 | €2,405 | +€620 | +34.7% |
| Deferred charges and accrued income | 490/1 | €1,255 | €1,681 | +€427 | +34.0% |
| Total equity and liabilities | 10/49 | €79,845 | €76,780 | -€3,065 | -3.8% |
| Equity | 10/15 | -€57,946 | -€65,394 | -€7,448 | -12.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,946 | -€85,394 | -€7,448 | -9.6% |
| Amounts payable | 17/49 | €137,790 | €142,174 | +€4,384 | +3.2% |
| Amounts payable after more than one year | 17 | €26,816 | €8,394 | -€18,422 | -68.7% |
| Financial debts | 170/4 | €26,816 | €8,394 | -€18,422 | -68.7% |
| Amounts payable within one year | 42/48 | €110,974 | €133,780 | +€22,805 | +20.6% |
| Current portion of amounts payable after more than one year | 42 | €18,114 | €18,422 | +€308 | +1.7% |
| Trade debts | 44 | €570 | €2,110 | +€1,540 | +270% |
| Suppliers | 440/4 | €570 | €2,110 | +€1,540 | +270% |
| Advances received on contracts in progress | 46 | €9,790 | €10,380 | +€590 | +6.0% |
| Taxes, remuneration and social security | 45 | - | €1,384 | +€1,384 | |
| Taxes | 450/3 | - | €1,384 | +€1,384 | |
| Other amounts payable | 47/48 | €82,500 | €101,483 | +€18,983 | +23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,796 | €16,655 | +€859 | +5.4% |
| Other operating charges | 640/8 | €2,880 | €4,772 | +€1,892 | +65.7% |
| Gross operating margin | 9900 | €8,904 | €14,756 | +€5,853 | +65.7% |
| Operating profit (loss) | 9901 | -€9,772 | -€6,670 | +€3,102 | +31.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €990 | €778 | -€212 | -21.4% |
| Recurring financial charges | 65 | €990 | €778 | -€212 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | -€10,763 | -€7,448 | +€3,314 | +30.8% |
| Profit (loss) for the period | 9904 | -€10,763 | -€7,448 | +€3,314 | +30.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,763 | -€7,448 | +€3,314 | +30.8% |
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 27 October 2026 via checked.be.