SALE E PEPE: 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.
SALE E PEPE
Largest movements
- Cash -€14,174
down €14,174 (-43.4%), from €32,668 to €18,494
mainly Receivables within one year (-€11,124) and Tax, wage and social debts (-€5,353)
- Receivables within one year +€11,124
up €11,124 (+18.8%), from €59,154 to €70,278
of which Other amounts receivable: +€10,752
- Tangible fixed assets -€1,882
down €1,882 (-13.5%), from €13,928 to €12,047
of which Plant, machinery and equipment: -€1,568
- Stocks and contracts -€1,250
down €1,250 (-11.1%), from €11,230 to €9,980
- Trade debts +€5,471
up €5,471 (+110%), from €4,995 to €10,466
- Tax, wage and social debts -€5,353
down €5,353 (-25.0%), from €21,440 to €16,087
of which Remuneration and social security: -€3,203
- Debts after one year -€3,069
down €3,069 (-67.8%), from €4,523 to €1,454
- Accrued charges and deferred income -€2,627
down €2,627 (-28.3%), from €9,270 to €6,644
- Staff costs -€5,841
down €5,841 (-5.8%), from €100,544 to €94,703
- Gross operating margin -€3,291
down €3,291 (-3.1%), from €105,328 to €102,037
- Depreciation -€1,612
down €1,612 (-33.1%), from €4,866 to €3,254
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 | €118,283 | €112,093 | -€6,190 | -5.2% |
| Fixed assets | 21/28 | €13,928 | €12,047 | -€1,882 | -13.5% |
| Tangible fixed assets | 22/27 | €13,928 | €12,047 | -€1,882 | -13.5% |
| Plant, machinery and equipment | 23 | €13,615 | €12,047 | -€1,568 | -11.5% |
| Furniture and vehicles | 24 | €280 | €0 | -€280 | -100% |
| Other tangible fixed assets | 26 | €34 | €0 | -€34 | -100% |
| Current assets | 29/58 | €104,355 | €100,047 | -€4,309 | -4.1% |
| Stocks and contracts in progress | 3 | €11,230 | €9,980 | -€1,250 | -11.1% |
| Stocks | 30/36 | €11,230 | €9,980 | -€1,250 | -11.1% |
| Amounts receivable within one year | 40/41 | €59,154 | €70,278 | +€11,124 | +18.8% |
| Trade receivables | 40 | €302 | €674 | +€372 | +123% |
| Other amounts receivable | 41 | €58,852 | €69,604 | +€10,752 | +18.3% |
| Cash at bank and in hand | 54/58 | €32,668 | €18,494 | -€14,174 | -43.4% |
| Deferred charges and accrued income | 490/1 | €1,304 | €1,295 | -€9 | -0.7% |
| Total equity and liabilities | 10/49 | €118,283 | €112,093 | -€6,190 | -5.2% |
| Equity | 10/15 | €75,122 | €74,373 | -€749 | -1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €84,808 | €84,808 | = | 0.0% |
| Distributable reserves | 133 | €84,808 | €84,808 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,286 | -€29,035 | -€749 | -2.6% |
| Amounts payable | 17/49 | €43,161 | €37,720 | -€5,441 | -12.6% |
| Amounts payable after more than one year | 17 | €4,523 | €1,454 | -€3,069 | -67.8% |
| Financial debts | 170/4 | €4,523 | €1,454 | -€3,069 | -67.8% |
| Amounts payable within one year | 42/48 | €29,367 | €29,622 | +€255 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €2,932 | €3,069 | +€137 | +4.7% |
| Trade debts | 44 | €4,995 | €10,466 | +€5,471 | +110% |
| Suppliers | 440/4 | €4,995 | €10,466 | +€5,471 | +110% |
| Taxes, remuneration and social security | 45 | €21,440 | €16,087 | -€5,353 | -25.0% |
| Taxes | 450/3 | €10,199 | €8,049 | -€2,150 | -21.1% |
| Remuneration and social security | 454/9 | €11,241 | €8,038 | -€3,203 | -28.5% |
| Accrued charges and deferred income | 492/3 | €9,270 | €6,644 | -€2,627 | -28.3% |
| Remuneration, social security and pensions | 62 | €100,544 | €94,703 | -€5,841 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,866 | €3,254 | -€1,612 | -33.1% |
| Other operating charges | 640/8 | €1,751 | €1,459 | -€291 | -16.6% |
| Gross operating margin | 9900 | €105,328 | €102,037 | -€3,291 | -3.1% |
| Operating profit (loss) | 9901 | -€1,832 | €2,621 | +€4,453 | |
| Financial income | 75/76B | €197 | €86 | -€111 | -56.2% |
| Recurring financial income | 75 | €197 | €86 | -€111 | -56.2% |
| Financial charges | 65/66B | €3,392 | €2,523 | -€869 | -25.6% |
| Recurring financial charges | 65 | €3,392 | €2,523 | -€869 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | -€5,028 | €185 | +€5,212 | |
| Income taxes | 67/77 | €242 | €934 | +€692 | +286% |
| Profit (loss) for the period | 9904 | -€5,270 | -€749 | +€4,520 | +85.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,270 | -€749 | +€4,520 | +85.8% |
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 31 October 2026 via checked.be.