Alexander Pieters Projects: 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.
Alexander Pieters Projects
Largest movements
- Tangible fixed assets +€6,709
new in 2025: €6,709
- Receivables within one year -€5,793
down €5,793 (-10.8%), from €53,832 to €48,039
of which Trade receivables: -€53,832
- Profit (loss) carried forward +€18,300
up €18,300, from -€13,001 to €5,298
- Other debts -€17,264
down €17,264 (-100%), from €17,264 to €0
- Tax, wage and social debts +€1,214
up €1,214 (+55.8%), from €2,177 to €3,391
- Trade debts -€991
down €991 (-84.9%), from €1,168 to €176
- Gross operating margin -€19,685
down €19,685 (-46.1%), from €42,687 to €23,003
- Taxes +€2,591
new in 2025: €2,591
- Depreciation +€1,185
new in 2025: €1,185
- Financial income +€962
new in 2025: €962
- Other operating charges +€927
up €927 (+163%), from €569 to €1,497
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 | €57,607 | €58,866 | +€1,259 | +2.2% |
| Fixed assets | 21/28 | - | €6,709 | +€6,709 | |
| Tangible fixed assets | 22/27 | - | €6,709 | +€6,709 | |
| Furniture and vehicles | 24 | - | €6,709 | +€6,709 | |
| Current assets | 29/58 | €57,607 | €52,158 | -€5,450 | -9.5% |
| Amounts receivable within one year | 40/41 | €53,832 | €48,039 | -€5,793 | -10.8% |
| Trade receivables | 40 | €53,832 | €0 | -€53,832 | -100% |
| Other amounts receivable | 41 | - | €48,039 | +€48,039 | |
| Cash at bank and in hand | 54/58 | €3,104 | €3,181 | +€77 | +2.5% |
| Deferred charges and accrued income | 490/1 | €671 | €938 | +€267 | +39.7% |
| Total equity and liabilities | 10/49 | €57,607 | €58,866 | +€1,259 | +2.2% |
| Equity | 10/15 | €36,999 | €55,298 | +€18,300 | +49.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,001 | €5,298 | +€18,300 | |
| Amounts payable | 17/49 | €20,608 | €3,568 | -€17,041 | -82.7% |
| Amounts payable within one year | 42/48 | €20,608 | €3,568 | -€17,041 | -82.7% |
| Trade debts | 44 | €1,168 | €176 | -€991 | -84.9% |
| Suppliers | 440/4 | €1,168 | €176 | -€991 | -84.9% |
| Taxes, remuneration and social security | 45 | €2,177 | €3,391 | +€1,214 | +55.8% |
| Taxes | 450/3 | €2,177 | €3,391 | +€1,214 | +55.8% |
| Other amounts payable | 47/48 | €17,264 | €0 | -€17,264 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,185 | +€1,185 | |
| Other operating charges | 640/8 | €569 | €1,497 | +€927 | +163% |
| Gross operating margin | 9900 | €42,687 | €23,003 | -€19,685 | -46.1% |
| Operating profit (loss) | 9901 | €42,118 | €20,321 | -€21,797 | -51.8% |
| Financial income | 75/76B | - | €962 | +€962 | |
| Recurring financial income | 75 | - | €962 | +€962 | |
| Financial charges | 65/66B | €64 | €392 | +€328 | +513% |
| Recurring financial charges | 65 | €64 | €392 | +€328 | +513% |
| Profit (loss) for the period before taxes | 9903 | €42,054 | €20,891 | -€21,163 | -50.3% |
| Income taxes | 67/77 | - | €2,591 | +€2,591 | |
| Profit (loss) for the period | 9904 | €42,054 | €18,300 | -€23,754 | -56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €42,054 | €18,300 | -€23,754 | -56.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.