DE PAEPE MANAGEMENT: 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 MANAGEMENT
Largest movements
- Cash -€81,044
down €81,044 (-43.7%), from €185,632 to €104,589
mainly Contributions, distributions and other (-€75,000) and Net result for the year (-€28,335)
- Receivables within one year -€37,946
down €37,946 (-71.8%), from €52,825 to €14,879
of which Trade receivables: -€38,355
- Reserves -€103,335
down €103,335 (-79.8%), from €129,545 to €26,211
of which Distributable reserves: -€103,335
- Tax, wage and social debts -€14,232
down €14,232 (-97.5%), from €14,596 to €364
- Gross operating margin -€134,651
down €134,651, from €110,160 to -€24,491
- Other operating charges -€4,881
down €4,881 (-66.5%), from €7,344 to €2,463
- Taxes -€2,018
down €2,018 (-84.7%), from €2,382 to €364
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 | €241,918 | €122,522 | -€119,395 | -49.4% |
| Fixed assets | 21/28 | €3,035 | €2,567 | -€468 | -15.4% |
| Tangible fixed assets | 22/27 | €3,035 | €2,567 | -€468 | -15.4% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €3,035 | €2,567 | -€468 | -15.4% |
| Current assets | 29/58 | €238,882 | €119,955 | -€118,927 | -49.8% |
| Amounts receivable within one year | 40/41 | €52,825 | €14,879 | -€37,946 | -71.8% |
| Trade receivables | 40 | €40,207 | €1,852 | -€38,355 | -95.4% |
| Other amounts receivable | 41 | €12,618 | €13,027 | +€409 | +3.2% |
| Cash at bank and in hand | 54/58 | €185,632 | €104,589 | -€81,044 | -43.7% |
| Deferred charges and accrued income | 490/1 | €425 | €487 | +€62 | +14.6% |
| Total equity and liabilities | 10/49 | €241,918 | €122,522 | -€119,395 | -49.4% |
| Equity | 10/15 | €148,145 | €44,811 | -€103,335 | -69.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €129,545 | €26,211 | -€103,335 | -79.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €127,685 | €24,351 | -€103,335 | -80.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €93,772 | €77,712 | -€16,061 | -17.1% |
| Amounts payable within one year | 42/48 | €92,621 | €77,712 | -€14,909 | -16.1% |
| Trade debts | 44 | €2,816 | €2,345 | -€470 | -16.7% |
| Suppliers | 440/4 | €2,816 | €2,345 | -€470 | -16.7% |
| Taxes, remuneration and social security | 45 | €14,596 | €364 | -€14,232 | -97.5% |
| Taxes | 450/3 | €14,596 | €364 | -€14,232 | -97.5% |
| Other amounts payable | 47/48 | €75,209 | €75,002 | -€207 | -0.3% |
| Accrued charges and deferred income | 492/3 | €1,151 | €0 | -€1,151 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €582 | €468 | -€114 | -19.6% |
| Other operating charges | 640/8 | €7,344 | €2,463 | -€4,881 | -66.5% |
| Gross operating margin | 9900 | €110,160 | -€24,491 | -€134,651 | |
| Operating profit (loss) | 9901 | €102,234 | -€27,422 | -€129,656 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €485 | €549 | +€64 | +13.2% |
| Recurring financial charges | 65 | €485 | €549 | +€64 | +13.2% |
| Profit (loss) for the period before taxes | 9903 | €101,749 | -€27,971 | -€129,720 | |
| Income taxes | 67/77 | €2,382 | €364 | -€2,018 | -84.7% |
| Profit (loss) for the period | 9904 | €99,367 | -€28,335 | -€127,702 | |
| Profit (loss) for the period to be appropriated | 9905 | €99,367 | -€28,335 | -€127,702 |
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 26 October 2026 via checked.be.