Aimé POELEMANS: 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.
Aimé POELEMANS
Largest movements
- Tangible fixed assets -€16,728
down €16,728 (-33.5%), from €49,898 to €33,170
of which Leasing and similar rights: -€12,848
- Receivables within one year -€12,510
down €12,510 (-28.8%), from €43,450 to €30,939
of which Trade receivables: -€13,635
- Cash +€10,900
up €10,900 (+30.3%), from €36,033 to €46,934
mainly Depreciation (+€16,728) and Receivables within one year (+€12,510)
- Stocks and contracts -€10,021
down €10,021 (-36.6%), from €27,366 to €17,344
- Trade debts -€14,137
down €14,137 (-50.0%), from €28,301 to €14,164
- Debts after one year -€9,220
down €9,220 (-41.8%), from €22,081 to €12,861
- Profit (loss) carried forward -€3,366
down €3,366 (-5.6%), from -€60,005 to -€63,371
- Tax, wage and social debts -€2,294
down €2,294 (-84.0%), from €2,732 to €438
of which Remuneration and social security: -€2,000
- Gross operating margin -€18,155
down €18,155 (-48.9%), from €37,100 to €18,945
- Staff costs -€12,434
down €12,434 (-100%), from €12,434 to €0
- Financial charges +€2,643
up €2,643 (+177%), from €1,492 to €4,135
- Other operating charges -€883
down €883 (-40.0%), from €2,209 to €1,326
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 | €161,836 | €133,812 | -€28,024 | -17.3% |
| Fixed assets | 21/28 | €50,295 | €33,566 | -€16,728 | -33.3% |
| Tangible fixed assets | 22/27 | €49,898 | €33,170 | -€16,728 | -33.5% |
| Plant, machinery and equipment | 23 | €635 | €360 | -€275 | -43.3% |
| Furniture and vehicles | 24 | €6,952 | €3,347 | -€3,605 | -51.9% |
| Leasing and similar rights | 25 | €42,311 | €29,463 | -€12,848 | -30.4% |
| Financial fixed assets | 28 | €397 | €397 | = | 0.0% |
| Current assets | 29/58 | €111,542 | €100,246 | -€11,296 | -10.1% |
| Stocks and contracts in progress | 3 | €27,366 | €17,344 | -€10,021 | -36.6% |
| Stocks | 30/36 | €27,366 | €17,344 | -€10,021 | -36.6% |
| Amounts receivable within one year | 40/41 | €43,450 | €30,939 | -€12,510 | -28.8% |
| Trade receivables | 40 | €37,825 | €24,189 | -€13,635 | -36.0% |
| Other amounts receivable | 41 | €5,625 | €6,750 | +€1,125 | +20.0% |
| Cash at bank and in hand | 54/58 | €36,033 | €46,934 | +€10,900 | +30.3% |
| Deferred charges and accrued income | 490/1 | €4,693 | €5,028 | +€335 | +7.1% |
| Total equity and liabilities | 10/49 | €161,836 | €133,812 | -€28,024 | -17.3% |
| Equity | 10/15 | €91,168 | €87,802 | -€3,366 | -3.7% |
| Contributions | 10/11 | €18,634 | €18,634 | = | 0.0% |
| Reserves | 13 | €132,539 | €132,539 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,151 | €0 | -€12,151 | -100% |
| Reserves not available under the articles | 1311 | €12,151 | €0 | -€12,151 | -100% |
| Distributable reserves | 133 | €120,388 | €132,539 | +€12,151 | +10.1% |
| Profit (loss) carried forward | 14 | -€60,005 | -€63,371 | -€3,366 | -5.6% |
| Amounts payable | 17/49 | €70,668 | €46,010 | -€24,658 | -34.9% |
| Amounts payable after more than one year | 17 | €22,081 | €12,861 | -€9,220 | -41.8% |
| Financial debts | 170/4 | €22,081 | €12,861 | -€9,220 | -41.8% |
| Amounts payable within one year | 42/48 | €48,587 | €33,149 | -€15,438 | -31.8% |
| Current portion of amounts payable after more than one year | 42 | €8,871 | €9,220 | +€349 | +3.9% |
| Trade debts | 44 | €28,301 | €14,164 | -€14,137 | -50.0% |
| Suppliers | 440/4 | €28,301 | €14,164 | -€14,137 | -50.0% |
| Taxes, remuneration and social security | 45 | €2,732 | €438 | -€2,294 | -84.0% |
| Taxes | 450/3 | €732 | €438 | -€294 | -40.2% |
| Remuneration and social security | 454/9 | €2,000 | €0 | -€2,000 | -100% |
| Other amounts payable | 47/48 | €8,682 | €9,327 | +€644 | +7.4% |
| Remuneration, social security and pensions | 62 | €12,434 | €0 | -€12,434 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,720 | €16,728 | +€9 | +0.1% |
| Other operating charges | 640/8 | €2,209 | €1,326 | -€883 | -40.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €37,100 | €18,945 | -€18,155 | -48.9% |
| Operating profit (loss) | 9901 | €5,738 | €891 | -€4,847 | -84.5% |
| Financial income | 75/76B | €254 | €89 | -€165 | -65.0% |
| Recurring financial income | 75 | €254 | €89 | -€165 | -65.0% |
| Financial charges | 65/66B | €1,492 | €4,135 | +€2,643 | +177% |
| Recurring financial charges | 65 | €1,492 | €4,135 | +€2,643 | +177% |
| Profit (loss) for the period before taxes | 9903 | €4,500 | -€3,156 | -€7,655 | |
| Income taxes | 67/77 | €229 | €210 | -€18 | -8.0% |
| Profit (loss) for the period | 9904 | €4,271 | -€3,366 | -€7,637 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,271 | -€3,366 | -€7,637 |
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 28 October 2026 via checked.be.