DE BACKER PAUL: 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.
DE BACKER PAUL
Largest movements
- Receivables within one year -€90,003
down €90,003 (-10.3%), from €874,856 to €784,853
of which Trade receivables: -€193,073
- Cash +€20,912
up €20,912 (+12.5%), from €167,238 to €188,150
mainly Net result for the year (+€129,941) and Short-term financial debts (+€100,000)
- Tangible fixed assets +€20,434
up €20,434 (+10.9%), from €187,807 to €208,241
of which Land and buildings: +€21,114
- Trade debts -€174,796
down €174,796 (-26.4%), from €662,974 to €488,178
- Short-term financial debts +€100,000
new in 2025: €100,000
- Other debts -€58,178
down €58,178 (-11.5%), from €506,638 to €448,460
- Reserves +€54,941
up €54,941 (+153%), from €35,893 to €90,834
of which Distributable reserves: +€54,941
- Debts after one year +€21,645
up €21,645, from €0 to €21,645
- Gross operating margin -€14,180
down €14,180 (-4.6%), from €309,014 to €294,834
- Depreciation -€8,150
down €8,150 (-29.1%), from €28,032 to €19,882
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 | €1,250,604 | €1,201,225 | -€49,379 | -3.9% |
| Fixed assets | 21/28 | €188,261 | €208,695 | +€20,434 | +10.9% |
| Tangible fixed assets | 22/27 | €187,807 | €208,241 | +€20,434 | +10.9% |
| Land and buildings | 22 | €186,224 | €207,338 | +€21,114 | +11.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,583 | €903 | -€679 | -42.9% |
| Financial fixed assets | 28 | €454 | €454 | = | 0.0% |
| Current assets | 29/58 | €1,062,343 | €992,529 | -€69,814 | -6.6% |
| Stocks and contracts in progress | 3 | €13,741 | €12,885 | -€856 | -6.2% |
| Stocks | 30/36 | €13,741 | €12,885 | -€856 | -6.2% |
| Amounts receivable within one year | 40/41 | €874,856 | €784,853 | -€90,003 | -10.3% |
| Trade receivables | 40 | €573,383 | €380,311 | -€193,073 | -33.7% |
| Other amounts receivable | 41 | €301,473 | €404,542 | +€103,070 | +34.2% |
| Cash at bank and in hand | 54/58 | €167,238 | €188,150 | +€20,912 | +12.5% |
| Deferred charges and accrued income | 490/1 | €6,508 | €6,642 | +€134 | +2.1% |
| Total equity and liabilities | 10/49 | €1,250,604 | €1,201,225 | -€49,379 | -3.9% |
| Equity | 10/15 | €54,493 | €109,434 | +€54,941 | +101% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €35,893 | €90,834 | +€54,941 | +153% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €7,074 | €7,074 | = | 0.0% |
| Distributable reserves | 133 | €28,820 | €83,761 | +€54,941 | +191% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,196,111 | €1,091,790 | -€104,321 | -8.7% |
| Amounts payable after more than one year | 17 | €0 | €21,645 | +€21,645 | |
| Financial debts | 170/4 | €0 | €21,645 | +€21,645 | |
| Amounts payable within one year | 42/48 | €1,189,610 | €1,065,463 | -€124,148 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €5,584 | €10,355 | +€4,771 | +85.5% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €662,974 | €488,178 | -€174,796 | -26.4% |
| Suppliers | 440/4 | €662,974 | €488,178 | -€174,796 | -26.4% |
| Taxes, remuneration and social security | 45 | €14,415 | €18,470 | +€4,055 | +28.1% |
| Taxes | 450/3 | €1,684 | €4,709 | +€3,025 | +180% |
| Remuneration and social security | 454/9 | €12,731 | €13,761 | +€1,030 | +8.1% |
| Other amounts payable | 47/48 | €506,638 | €448,460 | -€58,178 | -11.5% |
| Accrued charges and deferred income | 492/3 | €6,501 | €4,682 | -€1,818 | -28.0% |
| Remuneration, social security and pensions | 62 | €111,834 | €112,057 | +€223 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,032 | €19,882 | -€8,150 | -29.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €419 | €0 | -€419 | -100% |
| Other operating charges | 640/8 | €13,951 | €12,872 | -€1,079 | -7.7% |
| Gross operating margin | 9900 | €309,014 | €294,834 | -€14,180 | -4.6% |
| Operating profit (loss) | 9901 | €154,778 | €150,023 | -€4,755 | -3.1% |
| Financial income | 75/76B | €17,786 | €17,141 | -€646 | -3.6% |
| Recurring financial income | 75 | €17,786 | €17,141 | -€646 | -3.6% |
| Financial charges | 65/66B | €14,784 | €17,514 | +€2,729 | +18.5% |
| Recurring financial charges | 65 | €14,784 | €17,514 | +€2,729 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | €157,780 | €149,650 | -€8,130 | -5.2% |
| Income taxes | 67/77 | €21,684 | €19,709 | -€1,975 | -9.1% |
| Profit (loss) for the period | 9904 | €136,096 | €129,941 | -€6,155 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €136,096 | €129,941 | -€6,155 | -4.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.