PEPS5: 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.
What changed
PEPS5
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€550,892
2024 · €297,532+€253,360
Equity
€2.2m
2024 · €1.6m+€550,892
Cash
€121,069
2024 · €104,506+€16,563
Balance sheet total
€4.0m
2024 · €3.6m+€479,785
Largest movements
Assets
- Receivables within one year +€620,792
up €620,792 (+103.9%), from €597,485 to €1.2m
of which Other amounts receivable: +€742,841
- Tangible fixed assets -€93,941
down €93,941 (-6.7%), from €1.4m to €1.3m
of which Land and buildings: -€74,735
- Intangible fixed assets -€90,000
down €90,000 (-19.1%), from €471,033 to €381,033
Equity and liabilities
- Reserves +€560,912
up €560,912 (+34.4%), from €1.6m to €2.2m
- Debts after one year -€208,948
down €208,948 (-13.3%), from €1.6m to €1.4m
- Tax, wage and social debts +€138,628
up €138,628 (+169.9%), from €81,608 to €220,236
Income statement
- Gross operating margin +€277,253
up €277,253 (+39.0%), from €710,970 to €988,222
- Taxes +€125,024
up €125,024 (+87.0%), from €143,652 to €268,676
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.
Result 2024
€297,532
Gross operating margin
+€277,253
Depreciation
-€1,880
Other operating charges
+€5,834
Other operating items
+€88,519
Financial income
+€5,485
Financial charges
+€3,172
Taxes
-€125,024
Result 2025
€550,892
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.
From operations
+€242,089
Investment
-€9,670
Financing
-€215,856
Cash 2024
€104,506
From operations (derived)
+€242,089
Net result for the year
+€550,892
Depreciation
+€193,611
Receivables within one year
-€620,792
Deferred charges and accrued income
-€26,371
Trade debts
-€6,951
Tax, wage and social debts
+€138,628
Other debts
+€16,618
Accrued charges and deferred income
-€3,546
Investment (derived)
-€9,670
Investment in fixed assets (net)
-€9,670
Financing
-€215,856
Debts after one year
-€208,948
Current portion of long-term debt
-€6,908
Cash 2025
€121,069
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,562,853 | €4,042,638 | +€479,785 | +13.5% |
| Fixed assets | 21/28 | €1,875,750 | €1,691,808 | -€183,941 | -9.8% |
| Intangible fixed assets | 21 | €471,033 | €381,033 | -€90,000 | -19.1% |
| Tangible fixed assets | 22/27 | €1,404,717 | €1,310,776 | -€93,941 | -6.7% |
| Land and buildings | 22 | €1,332,476 | €1,257,741 | -€74,735 | -5.6% |
| Plant, machinery and equipment | 23 | - | €4,353 | +€4,353 | |
| Furniture and vehicles | 24 | €72,241 | €48,682 | -€23,559 | -32.6% |
| Current assets | 29/58 | €1,687,103 | €2,350,829 | +€663,726 | +39.3% |
| Amounts receivable after more than one year | 29 | €880,000 | €880,000 | = | 0.0% |
| Other amounts receivable | 291 | €880,000 | €880,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €597,485 | €1,218,278 | +€620,792 | +103.9% |
| Trade receivables | 40 | €134,530 | €12,482 | -€122,048 | -90.7% |
| Other amounts receivable | 41 | €462,955 | €1,205,796 | +€742,841 | +160.5% |
| Cash at bank and in hand | 54/58 | €104,506 | €121,069 | +€16,563 | +15.8% |
| Deferred charges and accrued income | 490/1 | €105,112 | €131,483 | +€26,371 | +25.1% |
| Total equity and liabilities | 10/49 | €3,562,853 | €4,042,638 | +€479,785 | +13.5% |
| Equity | 10/15 | €1,648,379 | €2,199,270 | +€550,892 | +33.4% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €1,632,358 | €2,193,270 | +€560,912 | +34.4% |
| Distributable reserves | 133 | €1,632,358 | €2,193,270 | +€560,912 | +34.4% |
| Profit (loss) carried forward | 14 | €10,020 | - | -€10,020 | |
| Amounts payable | 17/49 | €1,914,474 | €1,843,367 | -€71,107 | -3.7% |
| Amounts payable after more than one year | 17 | €1,566,426 | €1,357,477 | -€208,948 | -13.3% |
| Financial debts | 170/4 | €1,566,426 | €1,357,477 | -€208,948 | -13.3% |
| Amounts payable within one year | 42/48 | €344,503 | €485,890 | +€141,388 | +41.0% |
| Current portion of amounts payable after more than one year | 42 | €217,867 | €210,959 | -€6,908 | -3.2% |
| Trade debts | 44 | €34,334 | €27,383 | -€6,951 | -20.2% |
| Suppliers | 440/4 | €34,334 | €27,383 | -€6,951 | -20.2% |
| Taxes, remuneration and social security | 45 | €81,608 | €220,236 | +€138,628 | +169.9% |
| Taxes | 450/3 | €81,608 | €220,236 | +€138,628 | +169.9% |
| Other amounts payable | 47/48 | €10,693 | €27,311 | +€16,618 | +155.4% |
| Accrued charges and deferred income | 492/3 | €3,546 | - | -€3,546 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €191,731 | €193,611 | +€1,880 | +1.0% |
| Other operating charges | 640/8 | €15,020 | €9,186 | -€5,834 | -38.8% |
| Non-recurring operating charges | 66A | €88,519 | - | -€88,519 | |
| Gross operating margin | 9900 | €710,970 | €988,222 | +€277,253 | +39.0% |
| Operating profit (loss) | 9901 | €415,699 | €785,425 | +€369,726 | +88.9% |
| Financial income | 75/76B | €63,340 | €68,825 | +€5,485 | +8.7% |
| Recurring financial income | 75 | €63,340 | €68,825 | +€5,485 | +8.7% |
| Financial charges | 65/66B | €37,855 | €34,683 | -€3,172 | -8.4% |
| Recurring financial charges | 65 | €37,855 | €34,683 | -€3,172 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €441,184 | €819,567 | +€378,383 | +85.8% |
| Income taxes | 67/77 | €143,652 | €268,676 | +€125,024 | +87.0% |
| Profit (loss) for the period | 9904 | €297,532 | €550,892 | +€253,360 | +85.2% |
| Profit (loss) for the period to be appropriated | 9905 | €297,532 | €550,892 | +€253,360 | +85.2% |
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 11 October 2026 via checked.be.