DE PAPE: 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 PAPE
Largest movements
- Cash +€70,864
up €70,864 (+65.1%), from €108,855 to €179,719
mainly Debts after one year (+€412,572) and Net result for the year (+€59,674)
- Stocks and contracts +€53,153
up €53,153 (+11.9%), from €445,597 to €498,751
- Receivables within one year -€31,911
down €31,911 (-63.6%), from €50,210 to €18,298
of which Other amounts receivable: -€27,157
- Tangible fixed assets -€12,511
down €12,511 (-4.2%), from €299,378 to €286,867
of which Land and buildings: -€17,212
- Debts after one year +€412,572
up €412,572, from €0 to €412,572
- Profit (loss) carried forward -€255,326
down €255,326 (-45.4%), from €562,572 to €307,246
- Short-term financial debts -€60,331
down €60,331 (-100.0%), from €60,331 to €0
- Gross operating margin -€251,377
down €251,377 (-50.4%), from €498,829 to €247,452
- Write-downs -€228,591
down €228,591, from €148,532 to -€80,059
- Staff costs +€25,240
up €25,240 (+14.7%), from €171,233 to €196,473
- Taxes -€13,054
down €13,054 (-37.2%), from €35,081 to €22,027
- Financial charges +€6,177
up €6,177 (+56.2%), from €10,993 to €17,169
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 | €905,407 | €983,685 | +€78,278 | +8.6% |
| Fixed assets | 21/28 | €299,428 | €286,917 | -€12,511 | -4.2% |
| Tangible fixed assets | 22/27 | €299,378 | €286,867 | -€12,511 | -4.2% |
| Land and buildings | 22 | €270,857 | €253,644 | -€17,212 | -6.4% |
| Plant, machinery and equipment | 23 | €16,381 | €24,304 | +€7,923 | +48.4% |
| Furniture and vehicles | 24 | €12,141 | €8,919 | -€3,222 | -26.5% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €605,980 | €696,768 | +€90,789 | +15.0% |
| Stocks and contracts in progress | 3 | €445,597 | €498,751 | +€53,153 | +11.9% |
| Stocks | 30/36 | €445,597 | €498,751 | +€53,153 | +11.9% |
| Amounts receivable within one year | 40/41 | €50,210 | €18,298 | -€31,911 | -63.6% |
| Trade receivables | 40 | €21,535 | €16,781 | -€4,754 | -22.1% |
| Other amounts receivable | 41 | €28,675 | €1,518 | -€27,157 | -94.7% |
| Cash at bank and in hand | 54/58 | €108,855 | €179,719 | +€70,864 | +65.1% |
| Deferred charges and accrued income | 490/1 | €1,317 | €0 | -€1,317 | -100.0% |
| Total equity and liabilities | 10/49 | €905,407 | €983,685 | +€78,278 | +8.6% |
| Equity | 10/15 | €689,844 | €434,518 | -€255,326 | -37.0% |
| Contributions | 10/11 | €114,665 | €114,665 | = | 0.0% |
| Capital | 10 | €114,665 | €114,665 | = | 0.0% |
| Issued capital | 100 | €114,665 | €114,665 | = | 0.0% |
| Reserves | 13 | €12,607 | €12,607 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,466 | €11,466 | = | 0.0% |
| Legal reserve | 130 | €11,466 | €11,466 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,140 | €1,140 | = | 0.0% |
| Profit (loss) carried forward | 14 | €562,572 | €307,246 | -€255,326 | -45.4% |
| Amounts payable | 17/49 | €215,564 | €549,167 | +€333,603 | +154.8% |
| Amounts payable after more than one year | 17 | €0 | €412,572 | +€412,572 | |
| Financial debts | 170/4 | €0 | €412,572 | +€412,572 | |
| Amounts payable within one year | 42/48 | €215,564 | €136,596 | -€78,968 | -36.6% |
| Current portion of amounts payable after more than one year | 42 | €30,670 | €23,900 | -€6,769 | -22.1% |
| Financial debts | 43 | €60,331 | €0 | -€60,331 | -100.0% |
| Credit institutions | 430/8 | €60,331 | €0 | -€60,331 | -100.0% |
| Trade debts | 44 | €74,061 | €70,170 | -€3,891 | -5.3% |
| Suppliers | 440/4 | €74,061 | €70,170 | -€3,891 | -5.3% |
| Taxes, remuneration and social security | 45 | €49,833 | €41,541 | -€8,292 | -16.6% |
| Taxes | 450/3 | €15,152 | €15,485 | +€332 | +2.2% |
| Remuneration and social security | 454/9 | €34,680 | €26,056 | -€8,624 | -24.9% |
| Other amounts payable | 47/48 | €669 | €984 | +€315 | +47.1% |
| Remuneration, social security and pensions | 62 | €171,233 | €196,473 | +€25,240 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,874 | €22,383 | -€491 | -2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €148,532 | -€80,059 | -€228,591 | |
| Other operating charges | 640/8 | €11,749 | €12,346 | +€597 | +5.1% |
| Gross operating margin | 9900 | €498,829 | €247,452 | -€251,377 | -50.4% |
| Operating profit (loss) | 9901 | €144,441 | €96,309 | -€48,132 | -33.3% |
| Financial income | 75/76B | €450 | €2,561 | +€2,111 | +469.3% |
| Recurring financial income | 75 | €450 | €2,561 | +€2,111 | +469.3% |
| Financial charges | 65/66B | €10,993 | €17,169 | +€6,177 | +56.2% |
| Recurring financial charges | 65 | €10,993 | €17,169 | +€6,177 | +56.2% |
| Profit (loss) for the period before taxes | 9903 | €133,898 | €81,701 | -€52,197 | -39.0% |
| Income taxes | 67/77 | €35,081 | €22,027 | -€13,054 | -37.2% |
| Profit (loss) for the period | 9904 | €98,817 | €59,674 | -€39,143 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €98,817 | €59,674 | -€39,143 | -39.6% |
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 10 October 2026 via checked.be.