DE PAEPE G.: 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 G.
Largest movements
- Receivables within one year +€142,249
up €142,249 (+132%), from €108,020 to €250,269
of which Other amounts receivable: +€145,973
- Stocks and contracts -€82,154
down €82,154 (-100%), from €82,154 to €0
- Intangible fixed assets -€78,690
down €78,690 (-100%), from €78,690 to €0
- Tangible fixed assets -€12,822
down €12,822 (-16.9%), from €75,856 to €63,034
of which Furniture and vehicles: -€10,666
- Cash +€7,375
up €7,375 (+15.8%), from €46,627 to €54,003
mainly Advances received (+€128,536) and Investment in fixed assets (net) (+€84,129)
- Advances received +€128,536
up €128,536 (+129%), from €100,000 to €228,536
- Profit (loss) carried forward -€76,560
down €76,560 (-76.9%), from -€99,514 to -€176,074
- Debts after one year -€71,414
down €71,414 (-98.6%), from €72,437 to €1,023
- Current portion of long-term debt -€27,596
down €27,596 (-94.7%), from €29,129 to €1,533
- Tax, wage and social debts +€14,740
up €14,740 (+116%), from €12,742 to €27,482
- Financial income -€317,534
down €317,534 (-99.2%), from €320,092 to €2,559
- Gross operating margin +€40,918
up €40,918 (+213%), from €19,233 to €60,151
- Other operating charges +€31,116
up €31,116 (+234%), from €13,317 to €44,433
- Depreciation -€10,333
down €10,333 (-58.3%), from €17,716 to €7,383
- Write-downs +€5,747
up €5,747, from -€5,747 to €0
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 | €409,712 | €383,077 | -€26,634 | -6.5% |
| Fixed assets | 21/28 | €155,064 | €63,552 | -€91,512 | -59.0% |
| Intangible fixed assets | 21 | €78,690 | €0 | -€78,690 | -100% |
| Tangible fixed assets | 22/27 | €75,856 | €63,034 | -€12,822 | -16.9% |
| Land and buildings | 22 | €62,472 | €60,316 | -€2,156 | -3.5% |
| Furniture and vehicles | 24 | €13,384 | €2,718 | -€10,666 | -79.7% |
| Financial fixed assets | 28 | €518 | €518 | = | 0.0% |
| Current assets | 29/58 | €254,648 | €319,525 | +€64,877 | +25.5% |
| Stocks and contracts in progress | 3 | €82,154 | €0 | -€82,154 | -100% |
| Stocks | 30/36 | €82,154 | €0 | -€82,154 | -100% |
| Amounts receivable within one year | 40/41 | €108,020 | €250,269 | +€142,249 | +132% |
| Trade receivables | 40 | €91,995 | €88,271 | -€3,724 | -4.0% |
| Other amounts receivable | 41 | €16,025 | €161,998 | +€145,973 | +911% |
| Cash at bank and in hand | 54/58 | €46,627 | €54,003 | +€7,375 | +15.8% |
| Deferred charges and accrued income | 490/1 | €17,846 | €15,253 | -€2,593 | -14.5% |
| Total equity and liabilities | 10/49 | €409,712 | €383,077 | -€26,634 | -6.5% |
| Equity | 10/15 | €144,016 | €67,456 | -€76,560 | -53.2% |
| Contributions | 10/11 | €67,330 | €67,330 | = | 0.0% |
| Capital | 10 | €67,330 | €67,330 | = | 0.0% |
| Issued capital | 100 | €67,330 | €67,330 | = | 0.0% |
| Reserves | 13 | €176,200 | €176,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €170,000 | €170,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€99,514 | -€176,074 | -€76,560 | -76.9% |
| Amounts payable | 17/49 | €265,696 | €315,622 | +€49,926 | +18.8% |
| Amounts payable after more than one year | 17 | €72,437 | €1,023 | -€71,414 | -98.6% |
| Financial debts | 170/4 | €72,437 | €1,023 | -€71,414 | -98.6% |
| Amounts payable within one year | 42/48 | €192,472 | €314,599 | +€122,127 | +63.5% |
| Current portion of amounts payable after more than one year | 42 | €29,129 | €1,533 | -€27,596 | -94.7% |
| Trade debts | 44 | €50,601 | €57,047 | +€6,446 | +12.7% |
| Suppliers | 440/4 | €50,601 | €57,047 | +€6,446 | +12.7% |
| Advances received on contracts in progress | 46 | €100,000 | €228,536 | +€128,536 | +129% |
| Taxes, remuneration and social security | 45 | €12,742 | €27,482 | +€14,740 | +116% |
| Taxes | 450/3 | €12,742 | €27,482 | +€14,740 | +116% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €787 | €0 | -€787 | -100% |
| Remuneration, social security and pensions | 62 | €196 | €0 | -€196 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,716 | €7,383 | -€10,333 | -58.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,747 | €0 | +€5,747 | |
| Other operating charges | 640/8 | €13,317 | €44,433 | +€31,116 | +234% |
| Non-recurring operating charges | 66A | - | €78,690 | +€78,690 | |
| Gross operating margin | 9900 | €19,233 | €60,151 | +€40,918 | +213% |
| Operating profit (loss) | 9901 | -€6,249 | -€70,355 | -€64,105 | -1,026% |
| Financial income | 75/76B | €320,092 | €2,559 | -€317,534 | -99.2% |
| Recurring financial income | 75 | €320,092 | €2,559 | -€317,534 | -99.2% |
| Financial charges | 65/66B | €7,706 | €8,412 | +€706 | +9.2% |
| Recurring financial charges | 65 | €7,706 | €8,412 | +€706 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €306,137 | -€76,208 | -€382,345 | |
| Income taxes | 67/77 | €162 | €352 | +€190 | +118% |
| Profit (loss) for the period | 9904 | €305,976 | -€76,560 | -€382,536 | |
| Profit (loss) for the period to be appropriated | 9905 | €305,976 | -€76,560 | -€382,536 |
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 29 October 2026 via checked.be.