Pelikaancars: 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.
Pelikaancars
Largest movements
- Tangible fixed assets -€197,810
down €197,810 (-14.9%), from €1.3m to €1.1m
of which Furniture and vehicles: -€236,216
- Receivables within one year -€40,628
down €40,628 (-6.9%), from €591,067 to €550,439
of which Other amounts receivable: -€86,514
- Deferred charges and accrued income -€23,435
down €23,435 (-78.2%), from €29,985 to €6,550
- Debts after one year -€235,314
down €235,314 (-42.0%), from €560,030 to €324,716
- Tax, wage and social debts +€229,052
up €229,052 (+144%), from €158,629 to €387,681
of which Remuneration and social security: +€168,954
- Trade debts -€177,543
down €177,543 (-44.1%), from €402,192 to €224,649
- Current portion of long-term debt -€62,932
down €62,932 (-21.1%), from €298,246 to €235,314
- Reserves -€39,909
down €39,909 (-12.9%), from €309,138 to €269,229
of which Distributable reserves: -€39,909
- Other operating charges +€129,822
up €129,822 (+144%), from €90,039 to €219,860
- Gross operating margin +€122,388
up €122,388 (+9.0%), from €1.4m to €1.5m
- Staff costs +€75,812
up €75,812 (+7.6%), from €993,287 to €1.1m
- Depreciation -€32,835
down €32,835 (-15.2%), from €215,333 to €182,498
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 | €1,974,471 | €1,704,152 | -€270,320 | -13.7% |
| Fixed assets | 21/28 | €1,336,315 | €1,138,505 | -€197,810 | -14.8% |
| Tangible fixed assets | 22/27 | €1,326,947 | €1,129,137 | -€197,810 | -14.9% |
| Plant, machinery and equipment | 23 | €21,053 | €42,111 | +€21,057 | +100% |
| Furniture and vehicles | 24 | €1,247,362 | €1,011,146 | -€236,216 | -18.9% |
| Other tangible fixed assets | 26 | €58,531 | €75,880 | +€17,349 | +29.6% |
| Financial fixed assets | 28 | €9,369 | €9,369 | = | 0.0% |
| Current assets | 29/58 | €638,156 | €565,646 | -€72,509 | -11.4% |
| Amounts receivable within one year | 40/41 | €591,067 | €550,439 | -€40,628 | -6.9% |
| Trade receivables | 40 | €466,908 | €512,794 | +€45,886 | +9.8% |
| Other amounts receivable | 41 | €124,158 | €37,644 | -€86,514 | -69.7% |
| Current investments | 50/53 | €500 | €500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €16,604 | €8,157 | -€8,447 | -50.9% |
| Deferred charges and accrued income | 490/1 | €29,985 | €6,550 | -€23,435 | -78.2% |
| Total equity and liabilities | 10/49 | €1,974,471 | €1,704,152 | -€270,320 | -13.7% |
| Equity | 10/15 | €438,042 | €398,134 | -€39,909 | -9.1% |
| Contributions | 10/11 | €128,905 | €128,905 | = | 0.0% |
| Capital | 10 | €128,905 | €128,905 | = | 0.0% |
| Issued capital | 100 | €143,778 | €143,778 | = | 0.0% |
| Uncalled capital | 101 | €14,874 | €14,874 | = | 0.0% |
| Reserves | 13 | €309,138 | €269,229 | -€39,909 | -12.9% |
| Non-distributable reserves | 130/1 | €14,378 | €14,378 | = | 0.0% |
| Legal reserve | 130 | €14,378 | €14,378 | = | 0.0% |
| Distributable reserves | 133 | €294,760 | €254,851 | -€39,909 | -13.5% |
| Amounts payable | 17/49 | €1,536,429 | €1,306,018 | -€230,411 | -15.0% |
| Amounts payable after more than one year | 17 | €560,030 | €324,716 | -€235,314 | -42.0% |
| Financial debts | 170/4 | €560,030 | €324,716 | -€235,314 | -42.0% |
| Amounts payable within one year | 42/48 | €976,399 | €973,832 | -€2,567 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €298,246 | €235,314 | -€62,932 | -21.1% |
| Financial debts | 43 | €117,331 | €125,733 | +€8,401 | +7.2% |
| Credit institutions | 430/8 | €110,802 | €120,372 | +€9,570 | +8.6% |
| Other loans | 439 | €6,529 | €5,360 | -€1,169 | -17.9% |
| Trade debts | 44 | €402,192 | €224,649 | -€177,543 | -44.1% |
| Suppliers | 440/4 | €402,192 | €224,649 | -€177,543 | -44.1% |
| Advances received on contracts in progress | 46 | - | €455 | +€455 | |
| Taxes, remuneration and social security | 45 | €158,629 | €387,681 | +€229,052 | +144% |
| Taxes | 450/3 | €37,886 | €97,985 | +€60,098 | +159% |
| Remuneration and social security | 454/9 | €120,742 | €289,697 | +€168,954 | +140% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | - | €7,470 | +€7,470 | |
| Non-recurring operating income | 76A | €167,568 | €49,360 | -€118,208 | -70.5% |
| Remuneration, social security and pensions | 62 | €993,287 | €1,069,099 | +€75,812 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €215,333 | €182,498 | -€32,835 | -15.2% |
| Other operating charges | 640/8 | €90,039 | €219,860 | +€129,822 | +144% |
| Non-recurring operating charges | 66A | €1,600 | €0 | -€1,600 | -100% |
| Gross operating margin | 9900 | €1,357,919 | €1,480,307 | +€122,388 | +9.0% |
| Operating profit (loss) | 9901 | €57,661 | €8,849 | -€48,811 | -84.7% |
| Financial income | 75/76B | €6,644 | €4,689 | -€1,956 | -29.4% |
| Recurring financial income | 75 | €6,644 | €4,689 | -€1,956 | -29.4% |
| Financial charges | 65/66B | €45,367 | €53,447 | +€8,080 | +17.8% |
| Recurring financial charges | 65 | €45,367 | €53,447 | +€8,080 | +17.8% |
| Profit (loss) for the period before taxes | 9903 | €18,938 | -€39,909 | -€58,847 | |
| Income taxes | 67/77 | €7,359 | €0 | -€7,359 | -100% |
| Profit (loss) for the period | 9904 | €11,579 | -€39,909 | -€51,488 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,579 | -€39,909 | -€51,488 |
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.