PESCO: 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.
PESCO
Largest movements
- Tangible fixed assets -€12,978
down €12,978 (-2.5%), from €514,518 to €501,541
of which Furniture and vehicles: -€12,978
- Receivables within one year -€9,517
down €9,517 (-34.6%), from €27,538 to €18,021
of which Trade receivables: -€10,594
- Cash -€6,056
down €6,056 (-87.2%), from €6,944 to €888
mainly Tax, wage and social debts (-€15,702) and Other debts (-€12,455)
- Tax, wage and social debts -€15,702
down €15,702 (-39.7%), from €39,576 to €23,874
of which Taxes: -€15,702
- Other debts -€12,455
down €12,455 (-16.4%), from €75,725 to €63,270
- Gross operating margin -€66,357
down €66,357 (-82.8%), from €80,142 to €13,785
- Taxes -€18,930
down €18,930 (-91.2%), from €20,767 to €1,837
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 | €550,835 | €522,349 | -€28,486 | -5.2% |
| Fixed assets | 21/28 | €514,558 | €501,581 | -€12,978 | -2.5% |
| Tangible fixed assets | 22/27 | €514,518 | €501,541 | -€12,978 | -2.5% |
| Land and buildings | 22 | €467,328 | €467,328 | = | 0.0% |
| Furniture and vehicles | 24 | €47,190 | €34,212 | -€12,978 | -27.5% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €36,277 | €20,769 | -€15,508 | -42.7% |
| Amounts receivable within one year | 40/41 | €27,538 | €18,021 | -€9,517 | -34.6% |
| Trade receivables | 40 | €27,040 | €16,446 | -€10,594 | -39.2% |
| Other amounts receivable | 41 | €498 | €1,575 | +€1,077 | +216% |
| Cash at bank and in hand | 54/58 | €6,944 | €888 | -€6,056 | -87.2% |
| Deferred charges and accrued income | 490/1 | €1,795 | €1,859 | +€65 | +3.6% |
| Total equity and liabilities | 10/49 | €550,835 | €522,349 | -€28,486 | -5.2% |
| Equity | 10/15 | €311,392 | €309,063 | -€2,329 | -0.7% |
| Contributions | 10/11 | €300 | €300 | = | 0.0% |
| Reserves | 13 | €6,681 | €6,681 | = | 0.0% |
| Distributable reserves | 133 | €6,681 | €6,681 | = | 0.0% |
| Profit (loss) carried forward | 14 | €304,410 | €302,081 | -€2,329 | -0.8% |
| Amounts payable | 17/49 | €239,443 | €213,287 | -€26,157 | -10.9% |
| Amounts payable within one year | 42/48 | €139,443 | €113,287 | -€26,157 | -18.8% |
| Trade debts | 44 | €10,051 | €12,052 | +€2,001 | +19.9% |
| Suppliers | 440/4 | €10,051 | €12,052 | +€2,001 | +19.9% |
| Advances received on contracts in progress | 46 | €14,091 | €14,091 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €39,576 | €23,874 | -€15,702 | -39.7% |
| Taxes | 450/3 | €39,576 | €23,874 | -€15,702 | -39.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €75,725 | €63,270 | -€12,455 | -16.4% |
| Accrued charges and deferred income | 492/3 | €100,000 | €100,000 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,830 | €12,978 | +€148 | +1.2% |
| Other operating charges | 640/8 | €822 | €992 | +€170 | +20.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €80,142 | €13,785 | -€66,357 | -82.8% |
| Operating profit (loss) | 9901 | €66,490 | -€184 | -€66,674 | |
| Financial income | 75/76B | €80 | €0 | -€80 | -100.0% |
| Recurring financial income | 75 | €80 | €0 | -€80 | -100.0% |
| Financial charges | 65/66B | €159 | €308 | +€149 | +94.0% |
| Recurring financial charges | 65 | €159 | €308 | +€149 | +94.0% |
| Profit (loss) for the period before taxes | 9903 | €66,411 | -€492 | -€66,903 | |
| Income taxes | 67/77 | €20,767 | €1,837 | -€18,930 | -91.2% |
| Profit (loss) for the period | 9904 | €45,645 | -€2,329 | -€47,974 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,645 | -€2,329 | -€47,974 |
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 18 October 2026 via checked.be.