DE PAPE: 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.
What changed
DE PAPE
NACE 47.521, Retail sale of hardware, building materials, paint and glass (general range)
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€122,974
2024 · €187,540-€64,566
Equity
€1.7m
2024 · €1.5m+€122,974
Cash
€170,452
2024 · €443,509-€273,058
Balance sheet total
€7.6m
2024 · €8.3m-€710,231
Largest movements
Assets
- Tangible fixed assets -€316,811
down €316,811 (-4.9%), from €6.4m to €6.1m
of which Land and buildings: -€265,418
- Cash -€273,058
down €273,058 (-61.6%), from €443,509 to €170,452
mainly Debts after one year (-€557,051) and Short-term financial debts (-€200,000)
- Stocks and contracts -€145,217
down €145,217 (-10.4%), from €1.4m to €1.2m
Equity and liabilities
- Debts after one year -€557,051
down €557,051 (-9.6%), from €5.8m to €5.2m
- Short-term financial debts -€200,000
down €200,000 (-100.0%), from €200,000 to €0
- Reserves +€122,974
up €122,974 (+8.3%), from €1.5m to €1.6m
Income statement
- Staff costs +€81,073
up €81,073 (+13.8%), from €585,672 to €666,746
- Financial charges -€25,441
down €25,441 (-9.5%), from €268,093 to €242,652
- Gross operating margin -€16,433
down €16,433 (-1.2%), from €1.4m to €1.4m
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.
Result 2024
€187,540
Gross operating margin
-€16,433
Staff costs
-€81,073
Depreciation
+€2,096
Other operating charges
-€874
Financial income
+€73
Financial charges
+€25,441
Taxes
+€6,204
Result 2025
€122,974
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.
From operations
+€542,456
Investment
-€24,330
Financing
-€791,184
Cash 2024
€443,509
From operations (derived)
+€542,456
Net result for the year
+€122,974
Depreciation
+€340,421
Stocks and contracts
+€145,217
Receivables within one year
-€34,605
Deferred charges and accrued income
+€10,470
Trade debts
-€81,048
Tax, wage and social debts
-€10,754
Other debts
+€50,659
Accrued charges and deferred income
-€877
Investment (derived)
-€24,330
Investment in fixed assets (net)
-€24,330
Financing
-€791,184
Debts after one year
-€557,051
Current portion of long-term debt
-€34,133
Short-term financial debts
-€200,000
Cash 2025
€170,452
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,288,572 | €7,578,341 | -€710,231 | -8.6% |
| Fixed assets | 21/28 | €6,409,419 | €6,093,328 | -€316,091 | -4.9% |
| Intangible fixed assets | 21 | €387 | €1,106 | +€719 | +186.1% |
| Tangible fixed assets | 22/27 | €6,408,953 | €6,092,142 | -€316,811 | -4.9% |
| Land and buildings | 22 | €6,215,579 | €5,950,161 | -€265,418 | -4.3% |
| Plant, machinery and equipment | 23 | €160,376 | €127,665 | -€32,710 | -20.4% |
| Furniture and vehicles | 24 | €32,998 | €14,315 | -€18,683 | -56.6% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €1,879,152 | €1,485,013 | -€394,139 | -21.0% |
| Stocks and contracts in progress | 3 | €1,389,927 | €1,244,710 | -€145,217 | -10.4% |
| Stocks | 30/36 | €1,389,927 | €1,244,710 | -€145,217 | -10.4% |
| Amounts receivable within one year | 40/41 | €17,258 | €51,863 | +€34,605 | +200.5% |
| Trade receivables | 40 | €17,258 | €15,415 | -€1,843 | -10.7% |
| Other amounts receivable | 41 | €0 | €36,448 | +€36,448 | |
| Cash at bank and in hand | 54/58 | €443,509 | €170,452 | -€273,058 | -61.6% |
| Deferred charges and accrued income | 490/1 | €28,457 | €17,988 | -€10,470 | -36.8% |
| Total equity and liabilities | 10/49 | €8,288,572 | €7,578,341 | -€710,231 | -8.6% |
| Equity | 10/15 | €1,530,332 | €1,653,306 | +€122,974 | +8.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €1,480,332 | €1,603,306 | +€122,974 | +8.3% |
| Distributable reserves | 133 | €1,480,332 | €1,603,306 | +€122,974 | +8.3% |
| Amounts payable | 17/49 | €6,758,240 | €5,925,035 | -€833,205 | -12.3% |
| Amounts payable after more than one year | 17 | €5,797,493 | €5,240,442 | -€557,051 | -9.6% |
| Financial debts | 170/4 | €5,797,493 | €5,240,442 | -€557,051 | -9.6% |
| Amounts payable within one year | 42/48 | €959,849 | €684,572 | -€275,276 | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €393,477 | €359,344 | -€34,133 | -8.7% |
| Financial debts | 43 | €200,000 | €0 | -€200,000 | -100.0% |
| Credit institutions | 430/8 | €200,000 | €0 | -€200,000 | -100.0% |
| Trade debts | 44 | €173,551 | €92,504 | -€81,048 | -46.7% |
| Suppliers | 440/4 | €173,551 | €92,504 | -€81,048 | -46.7% |
| Taxes, remuneration and social security | 45 | €154,911 | €144,157 | -€10,754 | -6.9% |
| Taxes | 450/3 | €65,101 | €42,784 | -€22,317 | -34.3% |
| Remuneration and social security | 454/9 | €89,811 | €101,373 | +€11,563 | +12.9% |
| Other amounts payable | 47/48 | €37,909 | €88,567 | +€50,659 | +133.6% |
| Accrued charges and deferred income | 492/3 | €898 | €21 | -€877 | -97.7% |
| Non-recurring operating income | 76A | €6,444 | €0 | -€6,444 | -100.0% |
| Remuneration, social security and pensions | 62 | €585,672 | €666,746 | +€81,073 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €342,517 | €340,421 | -€2,096 | -0.6% |
| Other operating charges | 640/8 | €19,388 | €20,262 | +€874 | +4.5% |
| Gross operating margin | 9900 | €1,418,812 | €1,402,379 | -€16,433 | -1.2% |
| Operating profit (loss) | 9901 | €471,235 | €374,951 | -€96,285 | -20.4% |
| Financial income | 75/76B | €3,423 | €3,495 | +€73 | +2.1% |
| Recurring financial income | 75 | €3,423 | €3,495 | +€73 | +2.1% |
| Financial charges | 65/66B | €268,093 | €242,652 | -€25,441 | -9.5% |
| Recurring financial charges | 65 | €268,093 | €242,652 | -€25,441 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €206,565 | €135,794 | -€70,771 | -34.3% |
| Income taxes | 67/77 | €19,024 | €12,820 | -€6,204 | -32.6% |
| Profit (loss) for the period | 9904 | €187,540 | €122,974 | -€64,566 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €187,540 | €122,974 | -€64,566 | -34.4% |
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 7 October 2026 via checked.be.