PELPAT: 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.
PELPAT
Largest movements
- Stocks and contracts +€35,422
up €35,422 (+129%), from €27,389 to €62,811
- Cash +€26,750
up €26,750 (+39.3%), from €68,053 to €94,802
mainly Short-term financial debts (+€25,000) and Receivables within one year (+€18,464)
- Receivables within one year -€18,464
down €18,464 (-16.4%), from €112,614 to €94,151
of which Trade receivables: -€22,853
- Short-term financial debts +€25,000
up €25,000 (+50.0%), from €50,000 to €75,000
- Trade debts +€10,065
up €10,065 (+16.7%), from €60,090 to €70,155
- Other debts +€6,026
up €6,026 (+19.7%), from €30,652 to €36,678
- Profit (loss) carried forward +€4,787
up €4,787 (+17.6%), from €27,224 to €32,011
- Staff costs -€13,323
down €13,323 (-54.4%), from €24,494 to €11,171
- Gross operating margin -€11,395
down €11,395 (-34.5%), from €33,008 to €21,613
- Taxes +€1,327
new in 2025: €1,327
- Write-downs -€1,139
down €1,139 (-95.6%), from €1,191 to €52
- Financial charges -€710
down €710 (-22.1%), from €3,220 to €2,510
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 | €208,445 | €252,173 | +€43,728 | +21.0% |
| Fixed assets | 21/28 | €100 | €100 | = | 0.0% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €208,345 | €252,073 | +€43,728 | +21.0% |
| Stocks and contracts in progress | 3 | €27,389 | €62,811 | +€35,422 | +129% |
| Stocks | 30/36 | €27,389 | €62,811 | +€35,422 | +129% |
| Amounts receivable within one year | 40/41 | €112,614 | €94,151 | -€18,464 | -16.4% |
| Trade receivables | 40 | €112,600 | €89,747 | -€22,853 | -20.3% |
| Other amounts receivable | 41 | €15 | €4,404 | +€4,390 | +29,759% |
| Cash at bank and in hand | 54/58 | €68,053 | €94,802 | +€26,750 | +39.3% |
| Deferred charges and accrued income | 490/1 | €288 | €309 | +€21 | +7.1% |
| Total equity and liabilities | 10/49 | €208,445 | €252,173 | +€43,728 | +21.0% |
| Equity | 10/15 | €63,118 | €67,382 | +€4,265 | +6.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,771 | €16,771 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,911 | €14,911 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,224 | €32,011 | +€4,787 | +17.6% |
| Investment grants | 15 | €522 | €0 | -€522 | -100% |
| Amounts payable | 17/49 | €145,327 | €184,791 | +€39,463 | +27.2% |
| Amounts payable within one year | 42/48 | €145,327 | €184,791 | +€39,463 | +27.2% |
| Financial debts | 43 | €50,000 | €75,000 | +€25,000 | +50.0% |
| Credit institutions | 430/8 | €50,000 | €75,000 | +€25,000 | +50.0% |
| Trade debts | 44 | €60,090 | €70,155 | +€10,065 | +16.7% |
| Suppliers | 440/4 | €60,090 | €70,155 | +€10,065 | +16.7% |
| Taxes, remuneration and social security | 45 | €4,585 | €2,958 | -€1,627 | -35.5% |
| Taxes | 450/3 | €711 | €1,346 | +€635 | +89.2% |
| Remuneration and social security | 454/9 | €3,874 | €1,612 | -€2,262 | -58.4% |
| Other amounts payable | 47/48 | €30,652 | €36,678 | +€6,026 | +19.7% |
| Remuneration, social security and pensions | 62 | €24,494 | €11,171 | -€13,323 | -54.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,191 | €52 | -€1,139 | -95.6% |
| Other operating charges | 640/8 | €1,760 | €2,326 | +€567 | +32.2% |
| Gross operating margin | 9900 | €33,008 | €21,613 | -€11,395 | -34.5% |
| Operating profit (loss) | 9901 | €5,563 | €8,063 | +€2,500 | +44.9% |
| Financial income | 75/76B | €630 | €560 | -€70 | -11.1% |
| Recurring financial income | 75 | €630 | €560 | -€70 | -11.1% |
| Financial charges | 65/66B | €3,220 | €2,510 | -€710 | -22.1% |
| Recurring financial charges | 65 | €3,220 | €2,510 | -€710 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €2,973 | €6,114 | +€3,140 | +106% |
| Income taxes | 67/77 | - | €1,327 | +€1,327 | |
| Profit (loss) for the period | 9904 | €2,973 | €4,787 | +€1,814 | +61.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,973 | €4,787 | +€1,814 | +61.0% |
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 24 October 2026 via checked.be.