DE BACKER PETER: what changed
Two fiscal 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 PETER
Largest movements
- Tangible fixed assets +€190,749
up €190,749 (+56.5%), from €337,635 to €528,384
of which Land and buildings: +€154,050
- Cash -€179,052
down €179,052 (-26.0%), from €687,375 to €508,323
mainly Investment in fixed assets (net) (-€278,732) and Current investments (-€100,917)
- Current investments +€100,917
up €100,917 (+287.9%), from €35,050 to €135,967
- Receivables within one year +€40,374
up €40,374 (+39.8%), from €101,465 to €141,839
of which Trade receivables: +€86,041
- Deferred charges and accrued income +€27,333
up €27,333 (+532.4%), from €5,134 to €32,468
- Debts after one year +€133,632
new in 2025: €133,632
- Other debts -€87,552
down €87,552 (-21.8%), from €401,706 to €314,153
- Reserves +€52,912
up €52,912 (+12.9%), from €409,376 to €462,288
of which Distributable reserves: +€52,912
- Trade debts +€43,780
up €43,780 (+129.4%), from €33,835 to €77,615
- Current portion of long-term debt +€38,393
new in 2025: €38,393
- Gross operating margin -€141,133
down €141,133 (-23.9%), from €591,689 to €450,556
- Depreciation +€41,281
up €41,281 (+112.5%), from €36,702 to €77,983
- Financial charges +€32,624
up €32,624 (+207.1%), from €15,753 to €48,378
of which Non-recurring financial charges: +€21,714
- Taxes -€27,830
down €27,830 (-53.3%), from €52,168 to €24,338
- Staff costs -€19,479
down €19,479 (-8.8%), from €220,785 to €201,306
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.
Cash bridge derived
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 | €1,456,474 | €1,656,175 | +€199,701 | +13.7% |
| Fixed assets | 21/28 | €337,915 | €538,664 | +€200,749 | +59.4% |
| Tangible fixed assets | 22/27 | €337,635 | €528,384 | +€190,749 | +56.5% |
| Land and buildings | 22 | €209,348 | €363,399 | +€154,050 | +73.6% |
| Plant, machinery and equipment | 23 | €81,055 | €105,418 | +€24,363 | +30.1% |
| Furniture and vehicles | 24 | €47,232 | €59,568 | +€12,336 | +26.1% |
| Financial fixed assets | 28 | €280 | €10,280 | +€10,000 | +3573.0% |
| Current assets | 29/58 | €1,118,559 | €1,117,511 | -€1,048 | -0.1% |
| Stocks and contracts in progress | 3 | €289,535 | €298,914 | +€9,379 | +3.2% |
| Stocks | 30/36 | €289,535 | €298,914 | +€9,379 | +3.2% |
| Amounts receivable within one year | 40/41 | €101,465 | €141,839 | +€40,374 | +39.8% |
| Trade receivables | 40 | €53,874 | €139,916 | +€86,041 | +159.7% |
| Other amounts receivable | 41 | €47,590 | €1,923 | -€45,668 | -96.0% |
| Current investments | 50/53 | €35,050 | €135,967 | +€100,917 | +287.9% |
| Cash at bank and in hand | 54/58 | €687,375 | €508,323 | -€179,052 | -26.0% |
| Deferred charges and accrued income | 490/1 | €5,134 | €32,468 | +€27,333 | +532.4% |
| Total equity and liabilities | 10/49 | €1,456,474 | €1,656,175 | +€199,701 | +13.7% |
| Equity | 10/15 | €975,376 | €1,028,288 | +€52,912 | +5.4% |
| Contributions | 10/11 | €566,000 | €566,000 | = | 0.0% |
| Capital | 10 | €566,000 | €566,000 | = | 0.0% |
| Issued capital | 100 | €566,000 | €566,000 | = | 0.0% |
| Reserves | 13 | €409,376 | €462,288 | +€52,912 | +12.9% |
| Non-distributable reserves | 130/1 | €56,600 | €56,600 | = | 0.0% |
| Legal reserve | 130 | €56,600 | €56,600 | = | 0.0% |
| Distributable reserves | 133 | €352,776 | €405,688 | +€52,912 | +15.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €481,098 | €627,887 | +€146,789 | +30.5% |
| Amounts payable after more than one year | 17 | - | €133,632 | +€133,632 | |
| Financial debts | 170/4 | - | €133,632 | +€133,632 | |
| Amounts payable within one year | 42/48 | €466,241 | €463,591 | -€2,651 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | - | €38,393 | +€38,393 | |
| Trade debts | 44 | €33,835 | €77,615 | +€43,780 | +129.4% |
| Suppliers | 440/4 | €33,835 | €77,615 | +€43,780 | +129.4% |
| Taxes, remuneration and social security | 45 | €30,701 | €33,430 | +€2,729 | +8.9% |
| Taxes | 450/3 | €13,375 | €7,450 | -€5,925 | -44.3% |
| Remuneration and social security | 454/9 | €17,326 | €25,979 | +€8,654 | +49.9% |
| Other amounts payable | 47/48 | €401,706 | €314,153 | -€87,552 | -21.8% |
| Accrued charges and deferred income | 492/3 | €14,856 | €30,664 | +€15,808 | +106.4% |
| Non-recurring operating income | 76A | €16,374 | €12,088 | -€4,286 | -26.2% |
| Remuneration, social security and pensions | 62 | €220,785 | €201,306 | -€19,479 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,702 | €77,983 | +€41,281 | +112.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,000 | €0 | -€12,000 | -100.0% |
| Other operating charges | 640/8 | €9,109 | €15,387 | +€6,278 | +68.9% |
| Gross operating margin | 9900 | €591,689 | €450,556 | -€141,133 | -23.9% |
| Operating profit (loss) | 9901 | €313,093 | €155,881 | -€157,213 | -50.2% |
| Financial income | 75/76B | €20,858 | €24,747 | +€3,889 | +18.6% |
| Recurring financial income | 75 | €20,858 | €5,916 | -€14,942 | -71.6% |
| Non-recurring financial income | 76B | - | €18,831 | +€18,831 | |
| Financial charges | 65/66B | €15,753 | €48,378 | +€32,624 | +207.1% |
| Recurring financial charges | 65 | €15,753 | €26,664 | +€10,911 | +69.3% |
| Non-recurring financial charges | 66B | - | €21,714 | +€21,714 | |
| Profit (loss) for the period before taxes | 9903 | €318,198 | €132,250 | -€185,948 | -58.4% |
| Income taxes | 67/77 | €52,168 | €24,338 | -€27,830 | -53.3% |
| Profit (loss) for the period | 9904 | €266,030 | €107,912 | -€158,118 | -59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €266,030 | €107,912 | -€158,118 | -59.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.