Pezo Holding: 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.
Pezo Holding
Largest movements
- Receivables within one year +€45,711
up €45,711 (+114%), from €40,259 to €85,971
of which Trade receivables: +€29,127
- Cash -€9,234
down €9,234 (-90.5%), from €10,204 to €970
mainly Debts after one year (-€54,000) and Receivables within one year (-€45,711)
- Trade debts +€72,576
up €72,576 (+115%), from €63,214 to €135,790
- Debts after one year -€54,000
down €54,000 (-38.0%), from €142,000 to €88,000
- Tax, wage and social debts +€13,641
up €13,641 (+90.1%), from €15,146 to €28,787
of which Taxes: +€10,116
- Reserves +€4,260
up €4,260 (+18.4%), from €23,103 to €27,363
- Gross operating margin -€21,903
down €21,903 (-73.9%), from €29,658 to €7,754
- Taxes -€4,523
down €4,523 (-78.3%), from €5,776 to €1,253
- Other operating charges +€1,005
new in 2026: €1,005
- Financial charges +€457
up €457 (+58.7%), from €779 to €1,236
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €300,463 | €336,940 | +€36,477 | +12.1% |
| Fixed assets | 21/28 | €250,000 | €250,000 | = | 0.0% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €50,463 | €86,940 | +€36,477 | +72.3% |
| Amounts receivable within one year | 40/41 | €40,259 | €85,971 | +€45,711 | +114% |
| Trade receivables | 40 | €16,860 | €45,987 | +€29,127 | +173% |
| Other amounts receivable | 41 | €23,399 | €39,984 | +€16,584 | +70.9% |
| Cash at bank and in hand | 54/58 | €10,204 | €970 | -€9,234 | -90.5% |
| Total equity and liabilities | 10/49 | €300,463 | €336,940 | +€36,477 | +12.1% |
| Equity | 10/15 | €26,103 | €30,363 | +€4,260 | +16.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €23,103 | €27,363 | +€4,260 | +18.4% |
| Distributable reserves | 133 | €23,103 | €27,363 | +€4,260 | +18.4% |
| Amounts payable | 17/49 | €274,360 | €306,577 | +€32,217 | +11.7% |
| Amounts payable after more than one year | 17 | €142,000 | €88,000 | -€54,000 | -38.0% |
| Financial debts | 170/4 | €142,000 | €88,000 | -€54,000 | -38.0% |
| Amounts payable within one year | 42/48 | €132,360 | €218,577 | +€86,217 | +65.1% |
| Current portion of amounts payable after more than one year | 42 | €54,000 | €54,000 | = | 0.0% |
| Trade debts | 44 | €63,214 | €135,790 | +€72,576 | +115% |
| Suppliers | 440/4 | €63,214 | €135,790 | +€72,576 | +115% |
| Taxes, remuneration and social security | 45 | €15,146 | €28,787 | +€13,641 | +90.1% |
| Taxes | 450/3 | €14,623 | €24,739 | +€10,116 | +69.2% |
| Remuneration and social security | 454/9 | €523 | €4,048 | +€3,525 | +674% |
| Other operating charges | 640/8 | - | €1,005 | +€1,005 | |
| Gross operating margin | 9900 | €29,658 | €7,754 | -€21,903 | -73.9% |
| Operating profit (loss) | 9901 | €29,658 | €6,750 | -€22,908 | -77.2% |
| Financial charges | 65/66B | €779 | €1,236 | +€457 | +58.7% |
| Recurring financial charges | 65 | €779 | €1,236 | +€457 | +58.7% |
| Profit (loss) for the period before taxes | 9903 | €28,879 | €5,513 | -€23,366 | -80.9% |
| Income taxes | 67/77 | €5,776 | €1,253 | -€4,523 | -78.3% |
| Profit (loss) for the period | 9904 | €23,103 | €4,260 | -€18,842 | -81.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,103 | €4,260 | -€18,842 | -81.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.