PEPUP: 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.
PEPUP
Largest movements
- Receivables within one year +€119,936
up €119,936 (+1945.7%), from €6,164 to €126,100
of which Other amounts receivable: +€113,094
- Intangible fixed assets -€93,945
no longer reported in 2024 (was €93,945)
- Cash -€16,853
down €16,853 (-41.6%), from €40,516 to €23,663
mainly Receivables within one year (-€119,936) and Contributions, distributions and other (-€26,000)
- Tangible fixed assets -€4,201
down €4,201 (-12.7%), from €33,123 to €28,922
of which Furniture and vehicles: -€4,937
- Reserves +€15,000
up €15,000 (+187.5%), from €8,000 to €23,000
- Other debts -€8,752
down €8,752 (-12.4%), from €70,425 to €61,673
- Trade debts +€7,382
up €7,382 (+22.0%), from €33,500 to €40,882
- Tax, wage and social debts -€5,760
down €5,760 (-20.8%), from €27,649 to €21,889
- Advances received -€1,815
no longer reported in 2024 (was €1,815)
- Gross operating margin +€21,395
up €21,395 (+56.9%), from €37,600 to €58,995
- Depreciation -€13,195
down €13,195 (-75.9%), from €17,396 to €4,201
- Financial charges +€1,973
up €1,973 (+30.3%), from €6,507 to €8,480
- Write-downs -€1,550
down €1,550 (-63.3%), from €2,450 to €900
- Taxes +€1,309
up €1,309 (+30.9%), from €4,237 to €5,546
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €174,977 | €180,036 | +€5,059 | +2.9% |
| Fixed assets | 21/28 | €127,543 | €29,397 | -€98,146 | -77.0% |
| Intangible fixed assets | 21 | €93,945 | - | -€93,945 | |
| Tangible fixed assets | 22/27 | €33,123 | €28,922 | -€4,201 | -12.7% |
| Furniture and vehicles | 24 | €5,529 | €592 | -€4,937 | -89.3% |
| Leasing and similar rights | 25 | - | €3,046 | +€3,046 | |
| Other tangible fixed assets | 26 | €27,594 | €25,284 | -€2,310 | -8.4% |
| Financial fixed assets | 28 | €475 | €475 | = | 0.0% |
| Current assets | 29/58 | €47,434 | €150,639 | +€103,205 | +217.6% |
| Amounts receivable within one year | 40/41 | €6,164 | €126,100 | +€119,936 | +1945.7% |
| Trade receivables | 40 | €6,164 | €13,006 | +€6,842 | +111.0% |
| Other amounts receivable | 41 | - | €113,094 | +€113,094 | |
| Cash at bank and in hand | 54/58 | €40,516 | €23,663 | -€16,853 | -41.6% |
| Deferred charges and accrued income | 490/1 | €754 | €876 | +€122 | +16.2% |
| Total equity and liabilities | 10/49 | €174,977 | €180,036 | +€5,059 | +2.9% |
| Equity | 10/15 | €13,320 | €28,521 | +€15,201 | +114.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €8,000 | €23,000 | +€15,000 | +187.5% |
| Distributable reserves | 133 | €8,000 | €23,000 | +€15,000 | +187.5% |
| Profit (loss) carried forward | 14 | €320 | €521 | +€201 | +62.8% |
| Amounts payable | 17/49 | €161,657 | €151,515 | -€10,142 | -6.3% |
| Amounts payable after more than one year | 17 | €2,071 | €754 | -€1,317 | -63.6% |
| Financial debts | 170/4 | €2,071 | €754 | -€1,317 | -63.6% |
| Amounts payable within one year | 42/48 | €159,586 | €150,761 | -€8,825 | -5.5% |
| Current portion of amounts payable after more than one year | 42 | €1,197 | €1,317 | +€120 | +10.0% |
| Financial debts | 43 | €25,000 | €25,000 | = | 0.0% |
| Credit institutions | 430/8 | €25,000 | €25,000 | = | 0.0% |
| Trade debts | 44 | €33,500 | €40,882 | +€7,382 | +22.0% |
| Suppliers | 440/4 | €33,500 | €40,882 | +€7,382 | +22.0% |
| Advances received on contracts in progress | 46 | €1,815 | - | -€1,815 | |
| Taxes, remuneration and social security | 45 | €27,649 | €21,889 | -€5,760 | -20.8% |
| Taxes | 450/3 | €27,649 | €21,889 | -€5,760 | -20.8% |
| Other amounts payable | 47/48 | €70,425 | €61,673 | -€8,752 | -12.4% |
| Non-recurring operating income | 76A | - | €41,055 | +€41,055 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,396 | €4,201 | -€13,195 | -75.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,450 | €900 | -€1,550 | -63.3% |
| Other operating charges | 640/8 | €2,070 | €987 | -€1,083 | -52.3% |
| Gross operating margin | 9900 | €37,600 | €58,995 | +€21,395 | +56.9% |
| Operating profit (loss) | 9901 | €15,684 | €52,907 | +€37,223 | +237.3% |
| Financial income | 75/76B | €2,636 | €2,320 | -€316 | -12.0% |
| Recurring financial income | 75 | €2,636 | €2,320 | -€316 | -12.0% |
| Financial charges | 65/66B | €6,507 | €8,480 | +€1,973 | +30.3% |
| Recurring financial charges | 65 | €6,507 | €8,480 | +€1,973 | +30.3% |
| Profit (loss) for the period before taxes | 9903 | €11,813 | €46,747 | +€34,934 | +295.7% |
| Income taxes | 67/77 | €4,237 | €5,546 | +€1,309 | +30.9% |
| Profit (loss) for the period | 9904 | €7,576 | €41,201 | +€33,625 | +443.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,576 | €41,201 | +€33,625 | +443.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.