DE PAEPE CONSULT: 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 PAEPE CONSULT
Largest movements
- Cash +€40,922
up €40,922 (+50.2%), from €81,441 to €122,364
mainly Net result for the year (+€37,817) and Depreciation (+€29,532)
- Tangible fixed assets -€29,532
down €29,532 (-19.8%), from €149,297 to €119,765
of which Land and buildings: -€15,297
- Receivables within one year +€3,486
new in 2025: €3,486
of which Other amounts receivable: +€3,062
- Reserves +€11,557
up €11,557 (+5.8%), from €200,150 to €211,708
of which Distributable reserves: +€11,557
- Trade debts +€2,682
up €2,682 (+162%), from €1,651 to €4,333
- Taxes -€5,759
down €5,759 (-27.6%), from €20,848 to €15,089
- Gross operating margin -€5,737
down €5,737 (-5.5%), from €103,922 to €98,186
- Staff costs +€2,789
up €2,789 (+23.4%), from €11,906 to €14,696
- Depreciation +€2,617
up €2,617 (+9.7%), from €26,916 to €29,532
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 | €235,730 | €250,087 | +€14,356 | +6.1% |
| Fixed assets | 21/28 | €149,302 | €119,770 | -€29,532 | -19.8% |
| Tangible fixed assets | 22/27 | €149,297 | €119,765 | -€29,532 | -19.8% |
| Land and buildings | 22 | €112,283 | €96,986 | -€15,297 | -13.6% |
| Plant, machinery and equipment | 23 | €12,615 | €8,005 | -€4,610 | -36.5% |
| Furniture and vehicles | 24 | €24,400 | €14,775 | -€9,625 | -39.4% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €86,428 | €130,316 | +€43,888 | +50.8% |
| Stocks and contracts in progress | 3 | €3,381 | €4,280 | +€899 | +26.6% |
| Stocks | 30/36 | €3,381 | €4,280 | +€899 | +26.6% |
| Amounts receivable within one year | 40/41 | - | €3,486 | +€3,486 | |
| Trade receivables | 40 | - | €424 | +€424 | |
| Other amounts receivable | 41 | - | €3,062 | +€3,062 | |
| Cash at bank and in hand | 54/58 | €81,441 | €122,364 | +€40,922 | +50.2% |
| Deferred charges and accrued income | 490/1 | €1,605 | €187 | -€1,419 | -88.4% |
| Total equity and liabilities | 10/49 | €235,730 | €250,087 | +€14,356 | +6.1% |
| Equity | 10/15 | €218,742 | €230,300 | +€11,557 | +5.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €200,150 | €211,708 | +€11,557 | +5.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €586 | €586 | = | 0.0% |
| Distributable reserves | 133 | €197,705 | €209,262 | +€11,557 | +5.8% |
| Amounts payable | 17/49 | €16,988 | €19,787 | +€2,799 | +16.5% |
| Amounts payable within one year | 42/48 | €8,055 | €12,241 | +€4,186 | +52.0% |
| Trade debts | 44 | €1,651 | €4,333 | +€2,682 | +162% |
| Suppliers | 440/4 | €1,651 | €4,333 | +€2,682 | +162% |
| Taxes, remuneration and social security | 45 | €3,441 | €3,144 | -€298 | -8.6% |
| Taxes | 450/3 | €2,693 | - | -€2,693 | |
| Remuneration and social security | 454/9 | €748 | €3,144 | +€2,396 | +320% |
| Other amounts payable | 47/48 | €2,963 | €4,765 | +€1,801 | +60.8% |
| Accrued charges and deferred income | 492/3 | €8,933 | €7,546 | -€1,386 | -15.5% |
| Remuneration, social security and pensions | 62 | €11,906 | €14,696 | +€2,789 | +23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,916 | €29,532 | +€2,617 | +9.7% |
| Other operating charges | 640/8 | €2,076 | €1,505 | -€571 | -27.5% |
| Gross operating margin | 9900 | €103,922 | €98,186 | -€5,737 | -5.5% |
| Operating profit (loss) | 9901 | €63,025 | €52,453 | -€10,572 | -16.8% |
| Financial income | 75/76B | €521 | €504 | -€17 | -3.3% |
| Recurring financial income | 75 | €521 | €504 | -€17 | -3.3% |
| Financial charges | 65/66B | €45 | €51 | +€6 | +13.5% |
| Recurring financial charges | 65 | €45 | €51 | +€6 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €63,501 | €52,906 | -€10,595 | -16.7% |
| Income taxes | 67/77 | €20,848 | €15,089 | -€5,759 | -27.6% |
| Profit (loss) for the period | 9904 | €42,653 | €37,817 | -€4,836 | -11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €42,653 | €37,817 | -€4,836 | -11.3% |
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 16 October 2026 via checked.be.