EXEDEC gives you the Pcode, you have to decode it yourself.

The WKT debugger will actually let you trace step by step through the PCode with all the register, memory, breakpoint, etc operations (as a debugger should).

RACE will display the PCode and the opcode translations, GUI info, extract any graphic images, list the libraries, etc.

There are others as well...

If your desire is to "decode" some math steps that, perhaps, are the result of manipulation of a serial number, then I recommend WKT. If the math you want to do is to determine how source code data (specifically numeric data), is compiled into the exe, then RACE might be a better choice...only because it gives you the file offsets where the data is stored.

Good luck

Sarge