DEWART Pascal: what changed
DEWART Pascal
Largest movements
- Receivables within one year +€82,939
up €82,939 (+17.5%), from €474,105 to €557,044
of which Trade receivables: +€90,647
- Tangible fixed assets -€62,147
down €62,147 (-5.2%), from €1.2m to €1.1m
of which Leasing and similar rights: -€132,697
- Cash -€42,339
down €42,339 (-24.1%), from €175,525 to €133,186
mainly Contributions, distributions and other (-€210,526) and Investment in fixed assets (net) (-€181,651)
- Reserves -€181,995
down €181,995 (-27.1%), from €670,578 to €488,583
- Trade debts +€97,083
up €97,083 (+32.0%), from €303,857 to €400,940
- Tax, wage and social debts +€88,298
up €88,298 (+55.8%), from €158,154 to €246,452
of which Remuneration and social security: +€121,372
- Debts after one year -€29,192
down €29,192 (-6.7%), from €437,877 to €408,685
- Gross operating margin -€64,363
down €64,363 (-10.6%), from €604,951 to €540,588
- Purchases and services +€62,567
up €62,567 (+9.2%), from €680,085 to €742,652
- Staff costs +€55,687
up €55,687 (+32.0%), from €174,096 to €229,783
- Taxes -€42,329
down €42,329 (-80.1%), from €52,847 to €10,518
- Depreciation +€32,651
up €32,651 (+15.5%), from €211,147 to €243,798
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 | €1,849,765 | €1,827,147 | -€22,618 | -1.2% |
| Fixed assets | 21/28 | €1,195,929 | €1,133,782 | -€62,147 | -5.2% |
| Tangible fixed assets | 22/27 | €1,195,929 | €1,133,782 | -€62,147 | -5.2% |
| Land and buildings | 22 | €257,919 | €257,919 | = | 0.0% |
| Plant, machinery and equipment | 23 | €264,206 | €350,290 | +€86,084 | +32.6% |
| Furniture and vehicles | 24 | €127,577 | €113,387 | -€14,190 | -11.1% |
| Leasing and similar rights | 25 | €533,206 | €400,509 | -€132,697 | -24.9% |
| Other tangible fixed assets | 26 | €13,021 | €11,677 | -€1,344 | -10.3% |
| Current assets | 29/58 | €653,836 | €693,365 | +€39,529 | +6.0% |
| Amounts receivable within one year | 40/41 | €474,105 | €557,044 | +€82,939 | +17.5% |
| Trade receivables | 40 | €405,189 | €495,836 | +€90,647 | +22.4% |
| Other amounts receivable | 41 | €68,916 | €61,208 | -€7,708 | -11.2% |
| Cash at bank and in hand | 54/58 | €175,525 | €133,186 | -€42,339 | -24.1% |
| Deferred charges and accrued income | 490/1 | €4,206 | €3,135 | -€1,071 | -25.5% |
| Total equity and liabilities | 10/49 | €1,849,765 | €1,827,147 | -€22,618 | -1.2% |
| Equity | 10/15 | €763,704 | €581,709 | -€181,995 | -23.8% |
| Contributions | 10/11 | €93,126 | €93,126 | = | 0.0% |
| Reserves | 13 | €670,578 | €488,583 | -€181,995 | -27.1% |
| Distributable reserves | 133 | €670,578 | €488,583 | -€181,995 | -27.1% |
| Amounts payable | 17/49 | €1,086,061 | €1,245,438 | +€159,377 | +14.7% |
| Amounts payable after more than one year | 17 | €437,877 | €408,685 | -€29,192 | -6.7% |
| Financial debts | 170/4 | €437,877 | €408,685 | -€29,192 | -6.7% |
| Amounts payable within one year | 42/48 | €648,184 | €836,753 | +€188,569 | +29.1% |
| Current portion of amounts payable after more than one year | 42 | €186,173 | €183,697 | -€2,476 | -1.3% |
| Trade debts | 44 | €303,857 | €400,940 | +€97,083 | +32.0% |
| Suppliers | 440/4 | €303,857 | €400,940 | +€97,083 | +32.0% |
| Taxes, remuneration and social security | 45 | €158,154 | €246,452 | +€88,298 | +55.8% |
| Taxes | 450/3 | €52,299 | €19,225 | -€33,074 | -63.2% |
| Remuneration and social security | 454/9 | €105,855 | €227,227 | +€121,372 | +115% |
| Other amounts payable | 47/48 | - | €5,664 | +€5,664 | |
| Turnover | 70 | €1,285,036 | €1,283,240 | -€1,796 | -0.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €680,085 | €742,652 | +€62,567 | +9.2% |
| Remuneration, social security and pensions | 62 | €174,096 | €229,783 | +€55,687 | +32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €211,147 | €243,798 | +€32,651 | +15.5% |
| Other operating charges | 640/8 | €12,056 | €3,853 | -€8,203 | -68.0% |
| Gross operating margin | 9900 | €604,951 | €540,588 | -€64,363 | -10.6% |
| Operating profit (loss) | 9901 | €207,652 | €63,154 | -€144,498 | -69.6% |
| Financial charges | 65/66B | €23,125 | €24,105 | +€980 | +4.2% |
| Recurring financial charges | 65 | €23,125 | €24,105 | +€980 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €184,527 | €39,049 | -€145,478 | -78.8% |
| Income taxes | 67/77 | €52,847 | €10,518 | -€42,329 | -80.1% |
| Profit (loss) for the period | 9904 | €131,680 | €28,531 | -€103,149 | -78.3% |
| Profit (loss) for the period to be appropriated | 9905 | €131,680 | €28,531 | -€103,149 | -78.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.