De Pelsemaeker: what changed
What changed
De Pelsemaeker
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
€69,272
2024 · €78,978-€9,706
Equity
€603,958
2024 · €534,686+€69,272
Cash
€72,806
2024 · €95,355-€22,549
Balance sheet total
€3.3m
2024 · €2.2m+€1.0m
Largest movements
Assets
- Receivables within one year +€550,103
up €550,103 (+174%), from €315,476 to €865,579
of which Trade receivables: +€377,882
- Stocks and contracts +€400,000
up €400,000 (+41.2%), from €971,000 to €1.4m
- Tangible fixed assets +€106,271
up €106,271 (+12.9%), from €823,921 to €930,192
of which Plant, machinery and equipment: +€122,710
Equity and liabilities
- Trade debts +€460,428
up €460,428 (+291%), from €158,263 to €618,691
- Debts after one year +€277,151
up €277,151 (+20.9%), from €1.3m to €1.6m
- Current portion of long-term debt +€118,976
up €118,976 (+123%), from €96,982 to €215,958
- Tax, wage and social debts +€73,305
up €73,305 (+74.0%), from €99,072 to €172,377
of which Taxes: +€67,385
- Reserves +€69,272
up €69,272 (+24.4%), from €284,473 to €353,745
of which Distributable reserves: +€69,272
Income statement
- Depreciation +€57,379
up €57,379 (+35.3%), from €162,399 to €219,778
- Financial charges -€20,614
down €20,614 (-21.6%), from €95,565 to €74,951
- Gross operating margin +€13,980
up €13,980 (+3.6%), from €391,040 to €405,020
- Other operating charges -€13,109
down €13,109 (-46.5%), from €28,175 to €15,066
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.
Result 2024
€78,978
Gross operating margin
+€13,980
Staff costs
+€2,462
Depreciation
-€57,379
Other operating charges
+€13,109
Financial income
-€996
Financial charges
+€20,614
Taxes
-€1,497
Result 2025
€69,272
raises the resultlowers the result
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.
From operations
-€80,351
Investment
-€338,326
Financing
+€396,127
Cash 2024
€95,355
From operations (derived)
-€80,351
Net result for the year
+€69,272
Depreciation
+€219,778
Stocks and contracts
-€400,000
Receivables within one year
-€550,103
Deferred charges and accrued income
+€207
Trade debts
+€460,428
Tax, wage and social debts
+€73,305
Other debts
+€46,762
Investment (derived)
-€338,326
Investment in fixed assets (net)
-€338,326
Financing
+€396,127
Debts after one year
+€277,151
Current portion of long-term debt
+€118,976
Cash 2025
€72,806
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,215,822 | €3,261,716 | +€1.0m | +47.2% |
| Fixed assets | 21/28 | €825,142 | €943,689 | +€118,548 | +14.4% |
| Intangible fixed assets | 21 | €1,221 | €13,497 | +€12,277 | +1,006% |
| Tangible fixed assets | 22/27 | €823,921 | €930,192 | +€106,271 | +12.9% |
| Land and buildings | 22 | €245,298 | €240,451 | -€4,847 | -2.0% |
| Plant, machinery and equipment | 23 | €426,785 | €549,495 | +€122,710 | +28.8% |
| Furniture and vehicles | 24 | €150,902 | €131,661 | -€19,241 | -12.8% |
| Other tangible fixed assets | 26 | €936 | €8,585 | +€7,649 | +817% |
| Current assets | 29/58 | €1,390,680 | €2,318,027 | +€927,347 | +66.7% |
| Stocks and contracts in progress | 3 | €971,000 | €1,371,000 | +€400,000 | +41.2% |
| Stocks | 30/36 | €971,000 | €1,371,000 | +€400,000 | +41.2% |
| Amounts receivable within one year | 40/41 | €315,476 | €865,579 | +€550,103 | +174% |
| Trade receivables | 40 | €108,537 | €486,419 | +€377,882 | +348% |
| Other amounts receivable | 41 | €206,939 | €379,161 | +€172,221 | +83.2% |
| Cash at bank and in hand | 54/58 | €95,355 | €72,806 | -€22,549 | -23.6% |
| Deferred charges and accrued income | 490/1 | €8,849 | €8,642 | -€207 | -2.3% |
| Total equity and liabilities | 10/49 | €2,215,822 | €3,261,716 | +€1.0m | +47.2% |
| Equity | 10/15 | €534,686 | €603,958 | +€69,272 | +13.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €284,473 | €353,745 | +€69,272 | +24.4% |
| 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 | €282,613 | €351,885 | +€69,272 | +24.5% |
| Profit (loss) carried forward | 14 | €231,613 | €231,613 | = | 0.0% |
| Amounts payable | 17/49 | €1,681,136 | €2,657,758 | +€976,623 | +58.1% |
| Amounts payable after more than one year | 17 | €1,326,819 | €1,603,970 | +€277,151 | +20.9% |
| Financial debts | 170/4 | €1,326,819 | €1,603,970 | +€277,151 | +20.9% |
| Amounts payable within one year | 42/48 | €354,317 | €1,053,788 | +€699,472 | +197% |
| Current portion of amounts payable after more than one year | 42 | €96,982 | €215,958 | +€118,976 | +123% |
| Trade debts | 44 | €158,263 | €618,691 | +€460,428 | +291% |
| Suppliers | 440/4 | €158,263 | €618,691 | +€460,428 | +291% |
| Taxes, remuneration and social security | 45 | €99,072 | €172,377 | +€73,305 | +74.0% |
| Taxes | 450/3 | €99,072 | €166,457 | +€67,385 | +68.0% |
| Remuneration and social security | 454/9 | - | €5,920 | +€5,920 | |
| Other amounts payable | 47/48 | - | €46,762 | +€46,762 | |
| Non-recurring operating income | 76A | - | €5,369 | +€5,369 | |
| Remuneration, social security and pensions | 62 | €3,620 | €1,159 | -€2,462 | -68.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €162,399 | €219,778 | +€57,379 | +35.3% |
| Other operating charges | 640/8 | €28,175 | €15,066 | -€13,109 | -46.5% |
| Gross operating margin | 9900 | €391,040 | €405,020 | +€13,980 | +3.6% |
| Operating profit (loss) | 9901 | €196,845 | €169,017 | -€27,828 | -14.1% |
| Financial income | 75/76B | €1,062 | €66 | -€996 | -93.8% |
| Recurring financial income | 75 | €1,062 | €66 | -€996 | -93.8% |
| Financial charges | 65/66B | €95,565 | €74,951 | -€20,614 | -21.6% |
| Recurring financial charges | 65 | €95,565 | €74,951 | -€20,614 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €102,342 | €94,132 | -€8,210 | -8.0% |
| Income taxes | 67/77 | €23,364 | €24,860 | +€1,497 | +6.4% |
| Profit (loss) for the period | 9904 | €78,978 | €69,272 | -€9,706 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €78,978 | €69,272 | -€9,706 | -12.3% |
Next steps
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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 5 November 2026 via checked.be.