DE PAUW & ZN: what changed
DE PAUW & ZN
Largest movements
- Cash +€12,012
up €12,012 (+31.4%), from €38,206 to €50,218
mainly Net result for the year (+€21,190) and Depreciation (+€19,925)
- Tangible fixed assets +€6,636
up €6,636 (+12.2%), from €54,294 to €60,930
of which Furniture and vehicles: +€9,162
- Receivables within one year +€1,540
up €1,540 (+11.4%), from €13,543 to €15,083
of which Other amounts receivable: +€1,602
- Profit (loss) carried forward +€21,190
up €21,190 (+70.4%), from -€30,121 to -€8,930
- Other debts -€4,080
down €4,080 (-9.0%), from €45,335 to €41,254
- Tax, wage and social debts +€1,870
up €1,870 (+20.1%), from €9,303 to €11,173
of which Remuneration and social security: +€1,998
- Gross operating margin +€26,793
up €26,793 (+36.7%), from €73,043 to €99,836
- Depreciation +€4,016
up €4,016 (+25.2%), from €15,909 to €19,925
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €116,510 | €136,653 | +€20,143 | +17.3% |
| Fixed assets | 21/28 | €54,294 | €60,930 | +€6,636 | +12.2% |
| Tangible fixed assets | 22/27 | €54,294 | €60,930 | +€6,636 | +12.2% |
| Plant, machinery and equipment | 23 | €37,296 | €34,769 | -€2,527 | -6.8% |
| Furniture and vehicles | 24 | €16,999 | €26,161 | +€9,162 | +53.9% |
| Current assets | 29/58 | €62,215 | €75,723 | +€13,507 | +21.7% |
| Stocks and contracts in progress | 3 | €10,467 | €10,422 | -€45 | -0.4% |
| Stocks | 30/36 | €10,467 | €10,422 | -€45 | -0.4% |
| Amounts receivable within one year | 40/41 | €13,543 | €15,083 | +€1,540 | +11.4% |
| Trade receivables | 40 | €13,018 | €12,956 | -€62 | -0.5% |
| Other amounts receivable | 41 | €525 | €2,127 | +€1,602 | +305% |
| Cash at bank and in hand | 54/58 | €38,206 | €50,218 | +€12,012 | +31.4% |
| Total equity and liabilities | 10/49 | €116,510 | €136,653 | +€20,143 | +17.3% |
| Equity | 10/15 | €56,602 | €77,792 | +€21,190 | +37.4% |
| Contributions | 10/11 | €78,000 | €78,000 | = | 0.0% |
| Capital | 10 | €78,000 | €78,000 | = | 0.0% |
| Issued capital | 100 | €78,000 | €78,000 | = | 0.0% |
| Reserves | 13 | €8,722 | €8,722 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,800 | €7,800 | = | 0.0% |
| Legal reserve | 130 | €7,800 | €7,800 | = | 0.0% |
| Distributable reserves | 133 | €922 | €922 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,121 | -€8,930 | +€21,190 | +70.4% |
| Amounts payable | 17/49 | €59,908 | €58,861 | -€1,047 | -1.7% |
| Amounts payable within one year | 42/48 | €56,059 | €54,969 | -€1,090 | -1.9% |
| Trade debts | 44 | €1,421 | €2,541 | +€1,121 | +78.9% |
| Suppliers | 440/4 | €1,421 | €2,541 | +€1,121 | +78.9% |
| Taxes, remuneration and social security | 45 | €9,303 | €11,173 | +€1,870 | +20.1% |
| Taxes | 450/3 | €2,144 | €2,015 | -€128 | -6.0% |
| Remuneration and social security | 454/9 | €7,159 | €9,158 | +€1,998 | +27.9% |
| Other amounts payable | 47/48 | €45,335 | €41,254 | -€4,080 | -9.0% |
| Accrued charges and deferred income | 492/3 | €3,849 | €3,892 | +€43 | +1.1% |
| Remuneration, social security and pensions | 62 | €55,567 | €56,123 | +€555 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,909 | €19,925 | +€4,016 | +25.2% |
| Other operating charges | 640/8 | €1,252 | €1,280 | +€28 | +2.3% |
| Gross operating margin | 9900 | €73,043 | €99,836 | +€26,793 | +36.7% |
| Operating profit (loss) | 9901 | €315 | €22,508 | +€22,193 | +7,038% |
| Financial income | 75/76B | €556 | €412 | -€143 | -25.8% |
| Recurring financial income | 75 | €556 | €412 | -€143 | -25.8% |
| Financial charges | 65/66B | €1,724 | €1,730 | +€6 | +0.4% |
| Recurring financial charges | 65 | €1,724 | €1,730 | +€6 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | -€853 | €21,190 | +€22,043 | |
| Profit (loss) for the period | 9904 | -€853 | €21,190 | +€22,043 | |
| Profit (loss) for the period to be appropriated | 9905 | -€853 | €21,190 | +€22,043 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.