DE PELSE: 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.
DE PELSE
Largest movements
- Tangible fixed assets -€425,201
down €425,201 (-72.1%), from €589,519 to €164,319
- Cash +€369,889
up €369,889 (+164.5%), from €224,789 to €594,678
mainly Net result for the year (+€869,795) and Investment in fixed assets (net) (+€425,201)
- Other debts -€915,698
down €915,698 (-100.0%), from €915,698 to €0
- Reserves +€869,795
up €869,795 (+113.1%), from €769,309 to €1.6m
of which Distributable reserves: +€869,795
- Depreciation -€69,954
down €69,954 (-100.0%), from €69,954 to €0
- Gross operating margin -€56,637
down €56,637 (-6.3%), from €897,598 to €840,960
- Financial income +€26,603
up €26,603 (+1007.3%), from €2,641 to €29,244
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 | €1,753,938 | €1,704,103 | -€49,835 | -2.8% |
| Fixed assets | 21/28 | €589,686 | €164,485 | -€425,201 | -72.1% |
| Tangible fixed assets | 22/27 | €589,519 | €164,319 | -€425,201 | -72.1% |
| Land and buildings | 22 | €589,519 | €164,319 | -€425,201 | -72.1% |
| Financial fixed assets | 28 | €167 | €167 | = | 0.0% |
| Current assets | 29/58 | €1,164,253 | €1,539,618 | +€375,366 | +32.2% |
| Amounts receivable within one year | 40/41 | €939,464 | €944,940 | +€5,476 | +0.6% |
| Trade receivables | 40 | €71,313 | €0 | -€71,313 | -100.0% |
| Other amounts receivable | 41 | €868,151 | €944,940 | +€76,789 | +8.8% |
| Cash at bank and in hand | 54/58 | €224,789 | €594,678 | +€369,889 | +164.5% |
| Total equity and liabilities | 10/49 | €1,753,938 | €1,704,103 | -€49,835 | -2.8% |
| Equity | 10/15 | €834,309 | €1,704,103 | +€869,795 | +104.3% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €769,309 | €1,639,103 | +€869,795 | +113.1% |
| Non-distributable reserves | 130/1 | €198,315 | €198,315 | = | 0.0% |
| Legal reserve | 130 | €198,315 | €198,315 | = | 0.0% |
| Distributable reserves | 133 | €570,994 | €1,440,789 | +€869,795 | +152.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €919,630 | €0 | -€919,630 | -100.0% |
| Amounts payable within one year | 42/48 | €919,630 | €0 | -€919,630 | -100.0% |
| Trade debts | 44 | €3,931 | €0 | -€3,931 | -100.0% |
| Suppliers | 440/4 | €3,931 | €0 | -€3,931 | -100.0% |
| Other amounts payable | 47/48 | €915,698 | €0 | -€915,698 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €895,250 | €840,199 | -€55,050 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,954 | €0 | -€69,954 | -100.0% |
| Other operating charges | 640/8 | €1,157 | €201 | -€956 | -82.6% |
| Non-recurring operating charges | 66A | €10,211 | €0 | -€10,211 | -100.0% |
| Gross operating margin | 9900 | €897,598 | €840,960 | -€56,637 | -6.3% |
| Operating profit (loss) | 9901 | €816,275 | €840,759 | +€24,484 | +3.0% |
| Financial income | 75/76B | €2,641 | €29,244 | +€26,603 | +1007.3% |
| Recurring financial income | 75 | €2,641 | €29,244 | +€26,603 | +1007.3% |
| Financial charges | 65/66B | €540 | €208 | -€331 | -61.4% |
| Recurring financial charges | 65 | €540 | €208 | -€331 | -61.4% |
| Profit (loss) for the period before taxes | 9903 | €818,377 | €869,795 | +€51,418 | +6.3% |
| Profit (loss) for the period | 9904 | €818,377 | €869,795 | +€51,418 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €818,377 | €869,795 | +€51,418 | +6.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.