De Pelsmacker Activities: 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 Pelsmacker Activities
Largest movements
- Cash +€303,084
up €303,084 (+601%), from €50,418 to €353,502
mainly Investment in fixed assets (net) (+€147,659) and Net result for the year (+€95,902)
- Tangible fixed assets -€157,785
down €157,785 (-19.9%), from €792,720 to €634,935
of which Assets under construction and advance payments: -€347,470
- Receivables within one year -€36,832
down €36,832 (-77.8%), from €47,357 to €10,525
of which Other amounts receivable: -€37,064
- Reserves +€95,902
up €95,902 (+38.3%), from €250,103 to €346,005
- Other debts +€26,123
up €26,123 (+4.8%), from €542,582 to €568,705
- Gross operating margin +€47,937
up €47,937 (+27.6%), from €173,620 to €221,558
- Taxes +€24,937
up €24,937 (+80.2%), from €31,111 to €56,048
- Other operating charges -€14,429
down €14,429 (-41.9%), from €34,422 to €19,993
- Financial charges -€4,161
down €4,161 (-9.5%), from €43,650 to €39,490
- Depreciation +€2,481
up €2,481 (+32.5%), from €7,645 to €10,126
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.
Derived cash bridge
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 | €891,464 | €999,615 | +€108,151 | +12.1% |
| Fixed assets | 21/28 | €792,775 | €634,990 | -€157,785 | -19.9% |
| Tangible fixed assets | 22/27 | €792,720 | €634,935 | -€157,785 | -19.9% |
| Land and buildings | 22 | €425,000 | €622,188 | +€197,188 | +46.4% |
| Plant, machinery and equipment | 23 | €1,574 | €296 | -€1,278 | -81.2% |
| Furniture and vehicles | 24 | €18,677 | €12,451 | -€6,226 | -33.3% |
| Assets under construction and advance payments | 27 | €347,470 | - | -€347,470 | |
| Financial fixed assets | 28 | €55 | €55 | = | 0.0% |
| Current assets | 29/58 | €98,689 | €364,625 | +€265,936 | +269% |
| Amounts receivable within one year | 40/41 | €47,357 | €10,525 | -€36,832 | -77.8% |
| Trade receivables | 40 | €1,404 | €1,636 | +€232 | +16.5% |
| Other amounts receivable | 41 | €45,953 | €8,889 | -€37,064 | -80.7% |
| Cash at bank and in hand | 54/58 | €50,418 | €353,502 | +€303,084 | +601% |
| Deferred charges and accrued income | 490/1 | €913 | €597 | -€316 | -34.6% |
| Total equity and liabilities | 10/49 | €891,464 | €999,615 | +€108,151 | +12.1% |
| Equity | 10/15 | €253,103 | €349,005 | +€95,902 | +37.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €250,103 | €346,005 | +€95,902 | +38.3% |
| Distributable reserves | 133 | €250,103 | €346,005 | +€95,902 | +38.3% |
| Amounts payable | 17/49 | €638,361 | €650,610 | +€12,249 | +1.9% |
| Amounts payable within one year | 42/48 | €594,845 | €609,920 | +€15,075 | +2.5% |
| Trade debts | 44 | €3,555 | €795 | -€2,759 | -77.6% |
| Suppliers | 440/4 | €3,555 | €795 | -€2,759 | -77.6% |
| Taxes, remuneration and social security | 45 | €48,709 | €40,420 | -€8,289 | -17.0% |
| Taxes | 450/3 | €48,709 | €40,420 | -€8,289 | -17.0% |
| Other amounts payable | 47/48 | €542,582 | €568,705 | +€26,123 | +4.8% |
| Accrued charges and deferred income | 492/3 | €43,515 | €40,690 | -€2,826 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,645 | €10,126 | +€2,481 | +32.5% |
| Other operating charges | 640/8 | €34,422 | €19,993 | -€14,429 | -41.9% |
| Gross operating margin | 9900 | €173,620 | €221,558 | +€47,937 | +27.6% |
| Operating profit (loss) | 9901 | €131,554 | €191,439 | +€59,885 | +45.5% |
| Financial charges | 65/66B | €43,650 | €39,490 | -€4,161 | -9.5% |
| Recurring financial charges | 65 | €43,650 | €39,490 | -€4,161 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €87,904 | €151,949 | +€64,046 | +72.9% |
| Income taxes | 67/77 | €31,111 | €56,048 | +€24,937 | +80.2% |
| Profit (loss) for the period | 9904 | €56,793 | €95,902 | +€39,109 | +68.9% |
| Profit (loss) for the period to be appropriated | 9905 | €56,793 | €95,902 | +€39,109 | +68.9% |
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 14 October 2026 via checked.be.