PERVELO: 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.
PERVELO
Largest movements
- Stocks and contracts +€110,165
up €110,165 (+17.7%), from €621,308 to €731,472
- Formation expenses +€20,331
new in 2025: €20,331
- Intangible fixed assets -€19,252
down €19,252 (-38.7%), from €49,754 to €30,501
- Receivables within one year -€11,424
down €11,424 (-17.6%), from €64,832 to €53,408
- Short-term financial debts +€50,000
up €50,000 (+12.5%), from €400,000 to €450,000
- Trade debts +€48,099
up €48,099 (+83.1%), from €57,907 to €106,006
- Tax, wage and social debts -€11,709
down €11,709 (-23.9%), from €48,909 to €37,200
of which Remuneration and social security: -€17,949
- Gross operating margin -€61,794
down €61,794 (-23.0%), from €269,207 to €207,413
- Staff costs -€56,122
down €56,122 (-25.8%), from €217,907 to €161,785
- Financial charges +€7,471
up €7,471 (+27.2%), from €27,498 to €34,969
- Depreciation +€5,866
up €5,866 (+20.6%), from €28,488 to €34,354
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 | €891,257 | €973,846 | +€82,589 | +9.3% |
| Formation expenses | 20 | - | €20,331 | +€20,331 | |
| Fixed assets | 21/28 | €107,266 | €84,925 | -€22,341 | -20.8% |
| Intangible fixed assets | 21 | €49,754 | €30,501 | -€19,252 | -38.7% |
| Tangible fixed assets | 22/27 | €57,512 | €54,424 | -€3,089 | -5.4% |
| Plant, machinery and equipment | 23 | €1,780 | €1,135 | -€645 | -36.2% |
| Furniture and vehicles | 24 | €4,286 | €887 | -€3,399 | -79.3% |
| Leasing and similar rights | 25 | €13,957 | €9,835 | -€4,122 | -29.5% |
| Other tangible fixed assets | 26 | €37,489 | €42,566 | +€5,077 | +13.5% |
| Current assets | 29/58 | €783,991 | €868,591 | +€84,600 | +10.8% |
| Stocks and contracts in progress | 3 | €621,308 | €731,472 | +€110,165 | +17.7% |
| Stocks | 30/36 | €621,308 | €731,472 | +€110,165 | +17.7% |
| Amounts receivable within one year | 40/41 | €64,832 | €53,408 | -€11,424 | -17.6% |
| Trade receivables | 40 | €64,832 | €53,408 | -€11,424 | -17.6% |
| Cash at bank and in hand | 54/58 | €78,850 | €70,876 | -€7,974 | -10.1% |
| Deferred charges and accrued income | 490/1 | €19,002 | €12,834 | -€6,167 | -32.5% |
| Total equity and liabilities | 10/49 | €891,257 | €973,846 | +€82,589 | +9.3% |
| Equity | 10/15 | €99,420 | €100,044 | +€624 | +0.6% |
| Contributions | 10/11 | €212,000 | €212,000 | = | 0.0% |
| Capital | 10 | €212,000 | €212,000 | = | 0.0% |
| Issued capital | 100 | €212,000 | €212,000 | = | 0.0% |
| Reserves | 13 | €29 | €29 | = | 0.0% |
| Non-distributable reserves | 130/1 | €29 | €29 | = | 0.0% |
| Legal reserve | 130 | €29 | €29 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€112,610 | -€111,985 | +€624 | +0.6% |
| Amounts payable | 17/49 | €791,837 | €873,802 | +€81,965 | +10.4% |
| Amounts payable after more than one year | 17 | €10,271 | €6,018 | -€4,253 | -41.4% |
| Financial debts | 170/4 | €10,271 | €6,018 | -€4,253 | -41.4% |
| Amounts payable within one year | 42/48 | €781,183 | €867,784 | +€86,601 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €4,042 | €4,253 | +€211 | +5.2% |
| Financial debts | 43 | €400,000 | €450,000 | +€50,000 | +12.5% |
| Credit institutions | 430/8 | €400,000 | €450,000 | +€50,000 | +12.5% |
| Trade debts | 44 | €57,907 | €106,006 | +€48,099 | +83.1% |
| Suppliers | 440/4 | €57,907 | €106,006 | +€48,099 | +83.1% |
| Taxes, remuneration and social security | 45 | €48,909 | €37,200 | -€11,709 | -23.9% |
| Taxes | 450/3 | €21,270 | €27,510 | +€6,240 | +29.3% |
| Remuneration and social security | 454/9 | €27,639 | €9,690 | -€17,949 | -64.9% |
| Other amounts payable | 47/48 | €270,326 | €270,326 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €383 | - | -€383 | |
| Remuneration, social security and pensions | 62 | €217,907 | €161,785 | -€56,122 | -25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,488 | €34,354 | +€5,866 | +20.6% |
| Other operating charges | 640/8 | €798 | €823 | +€25 | +3.1% |
| Operating charges capitalised as restructuring costs | 649 | - | -€20,775 | -€20,775 | |
| Gross operating margin | 9900 | €269,207 | €207,413 | -€61,794 | -23.0% |
| Operating profit (loss) | 9901 | €22,014 | €31,226 | +€9,212 | +41.8% |
| Financial income | 75/76B | €4,167 | €4,368 | +€201 | +4.8% |
| Recurring financial income | 75 | €4,167 | €4,368 | +€201 | +4.8% |
| Financial charges | 65/66B | €27,498 | €34,969 | +€7,471 | +27.2% |
| Recurring financial charges | 65 | €27,498 | €34,969 | +€7,471 | +27.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,318 | €624 | +€1,942 | |
| Income taxes | 67/77 | - | €0 | +€0 | |
| Profit (loss) for the period | 9904 | -€1,318 | €624 | +€1,942 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,318 | €624 | +€1,942 |
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 12 October 2026 via checked.be.