DE PIETER: 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 PIETER
Largest movements
- Cash +€48,042
up €48,042 (+57.8%), from €83,141 to €131,184
mainly Net result for the year (+€168,821) and Depreciation (+€44,035)
- Receivables within one year +€24,344
up €24,344 (+55.4%), from €43,947 to €68,291
of which Other amounts receivable: +€28,533
- Tangible fixed assets +€17,409
up €17,409 (+5.0%), from €351,109 to €368,518
of which Plant, machinery and equipment: +€14,272
- Reserves +€163,636
up €163,636 (+47.0%), from €348,291 to €511,927
- Profit (loss) carried forward -€34,816
down €34,816 (-80.6%), from €43,213 to €8,397
- Debts after one year -€33,409
down €33,409 (-51.4%), from €64,959 to €31,550
- Tax, wage and social debts -€12,491
down €12,491 (-19.9%), from €62,659 to €50,168
of which Remuneration and social security: -€18,108
- Gross operating margin +€118,782
up €118,782 (+30.6%), from €388,027 to €506,810
- Staff costs +€24,826
up €24,826 (+12.9%), from €191,903 to €216,730
- Taxes +€23,559
up €23,559 (+50.0%), from €47,099 to €70,658
- Depreciation +€15,303
up €15,303 (+53.3%), from €28,733 to €44,035
- Financial charges +€6,267
up €6,267 (+156%), from €4,013 to €10,280
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 | €582,872 | €672,775 | +€89,903 | +15.4% |
| Fixed assets | 21/28 | €351,414 | €368,823 | +€17,409 | +5.0% |
| Tangible fixed assets | 22/27 | €351,109 | €368,518 | +€17,409 | +5.0% |
| Land and buildings | 22 | €279,325 | €292,863 | +€13,538 | +4.8% |
| Plant, machinery and equipment | 23 | €30,730 | €45,002 | +€14,272 | +46.4% |
| Furniture and vehicles | 24 | €41,054 | €30,653 | -€10,401 | -25.3% |
| Financial fixed assets | 28 | €305 | €305 | = | 0.0% |
| Current assets | 29/58 | €231,459 | €303,953 | +€72,494 | +31.3% |
| Amounts receivable after more than one year | 29 | €98,000 | €101,214 | +€3,214 | +3.3% |
| Trade receivables | 290 | €98,000 | €101,214 | +€3,214 | +3.3% |
| Stocks and contracts in progress | 3 | €1,500 | €1,500 | = | 0.0% |
| Stocks | 30/36 | €1,500 | €1,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €43,947 | €68,291 | +€24,344 | +55.4% |
| Trade receivables | 40 | €15,886 | €11,697 | -€4,189 | -26.4% |
| Other amounts receivable | 41 | €28,061 | €56,594 | +€28,533 | +102% |
| Cash at bank and in hand | 54/58 | €83,141 | €131,184 | +€48,042 | +57.8% |
| Deferred charges and accrued income | 490/1 | €4,870 | €1,764 | -€3,107 | -63.8% |
| Total equity and liabilities | 10/49 | €582,872 | €672,775 | +€89,903 | +15.4% |
| Equity | 10/15 | €403,904 | €532,725 | +€128,821 | +31.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €348,291 | €511,927 | +€163,636 | +47.0% |
| Distributable reserves | 133 | €348,291 | €511,927 | +€163,636 | +47.0% |
| Profit (loss) carried forward | 14 | €43,213 | €8,397 | -€34,816 | -80.6% |
| Amounts payable | 17/49 | €178,968 | €140,051 | -€38,918 | -21.7% |
| Amounts payable after more than one year | 17 | €64,959 | €31,550 | -€33,409 | -51.4% |
| Financial debts | 170/4 | €64,959 | €31,550 | -€33,409 | -51.4% |
| Amounts payable within one year | 42/48 | €114,009 | €107,568 | -€6,441 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €35,041 | €36,146 | +€1,105 | +3.2% |
| Trade debts | 44 | €16,309 | €21,254 | +€4,945 | +30.3% |
| Suppliers | 440/4 | €16,309 | €21,254 | +€4,945 | +30.3% |
| Taxes, remuneration and social security | 45 | €62,659 | €50,168 | -€12,491 | -19.9% |
| Taxes | 450/3 | €34,734 | €40,350 | +€5,616 | +16.2% |
| Remuneration and social security | 454/9 | €27,926 | €9,818 | -€18,108 | -64.8% |
| Accrued charges and deferred income | 492/3 | - | €933 | +€933 | |
| Remuneration, social security and pensions | 62 | €191,903 | €216,730 | +€24,826 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,733 | €44,035 | +€15,303 | +53.3% |
| Other operating charges | 640/8 | €4,021 | €1,802 | -€2,219 | -55.2% |
| Gross operating margin | 9900 | €388,027 | €506,810 | +€118,782 | +30.6% |
| Operating profit (loss) | 9901 | €163,370 | €244,242 | +€80,873 | +49.5% |
| Financial income | 75/76B | €1,034 | €5,516 | +€4,483 | +434% |
| Recurring financial income | 75 | €1,034 | €5,516 | +€4,483 | +434% |
| Financial charges | 65/66B | €4,013 | €10,280 | +€6,267 | +156% |
| Recurring financial charges | 65 | €4,013 | €10,280 | +€6,267 | +156% |
| Profit (loss) for the period before taxes | 9903 | €160,390 | €239,479 | +€79,089 | +49.3% |
| Income taxes | 67/77 | €47,099 | €70,658 | +€23,559 | +50.0% |
| Profit (loss) for the period | 9904 | €113,291 | €168,821 | +€55,530 | +49.0% |
| Profit (loss) for the period to be appropriated | 9905 | €113,291 | €168,821 | +€55,530 | +49.0% |
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 17 October 2026 via checked.be.