DR SL Pearce: 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.
DR SL Pearce
Largest movements
- Current investments +€94,661
up €94,661 (+114%), from €83,264 to €177,925
- Cash -€24,349
down €24,349 (-64.7%), from €37,619 to €13,271
mainly Current investments (-€94,661) and Trade debts (-€67)
- Reserves +€59,000
up €59,000 (+47.5%), from €124,250 to €183,250
- Tax, wage and social debts +€7,382
up €7,382 (+73.7%), from €10,019 to €17,401
- Gross operating margin +€16,585
up €16,585 (+24.5%), from €67,575 to €84,160
- Taxes +€4,549
up €4,549 (+25.1%), from €18,138 to €22,687
- Other operating charges +€917
up €917 (+451%), from €203 to €1,120
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 | €137,566 | €205,829 | +€68,262 | +49.6% |
| Fixed assets | 21/28 | €3,881 | €2,789 | -€1,092 | -28.1% |
| Tangible fixed assets | 22/27 | €3,881 | €2,789 | -€1,092 | -28.1% |
| Plant, machinery and equipment | 23 | €184 | - | -€184 | |
| Furniture and vehicles | 24 | €3,697 | €2,789 | -€908 | -24.6% |
| Current assets | 29/58 | €133,686 | €203,040 | +€69,354 | +51.9% |
| Amounts receivable within one year | 40/41 | €12,654 | €11,697 | -€958 | -7.6% |
| Trade receivables | 40 | €12,654 | €11,697 | -€958 | -7.6% |
| Current investments | 50/53 | €83,264 | €177,925 | +€94,661 | +114% |
| Cash at bank and in hand | 54/58 | €37,619 | €13,271 | -€24,349 | -64.7% |
| Deferred charges and accrued income | 490/1 | €148 | €148 | = | 0.0% |
| Total equity and liabilities | 10/49 | €137,566 | €205,829 | +€68,262 | +49.6% |
| Equity | 10/15 | €127,390 | €187,532 | +€60,143 | +47.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €124,250 | €183,250 | +€59,000 | +47.5% |
| Distributable reserves | 133 | €124,250 | €183,250 | +€59,000 | +47.5% |
| Profit (loss) carried forward | 14 | €2,140 | €3,282 | +€1,143 | +53.4% |
| Amounts payable | 17/49 | €10,177 | €18,296 | +€8,120 | +79.8% |
| Amounts payable within one year | 42/48 | €10,177 | €18,296 | +€8,120 | +79.8% |
| Trade debts | 44 | €102 | €35 | -€67 | -65.8% |
| Suppliers | 440/4 | €102 | €35 | -€67 | -65.8% |
| Taxes, remuneration and social security | 45 | €10,019 | €17,401 | +€7,382 | +73.7% |
| Taxes | 450/3 | €10,019 | €17,401 | +€7,382 | +73.7% |
| Other amounts payable | 47/48 | €55 | €860 | +€805 | +1,464% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,176 | €1,092 | -€84 | -7.1% |
| Other operating charges | 640/8 | €203 | €1,120 | +€917 | +451% |
| Gross operating margin | 9900 | €67,575 | €84,160 | +€16,585 | +24.5% |
| Operating profit (loss) | 9901 | €66,196 | €81,948 | +€15,752 | +23.8% |
| Financial income | 75/76B | €284 | €956 | +€672 | +236% |
| Recurring financial income | 75 | €284 | €956 | +€672 | +236% |
| Financial charges | 65/66B | €74 | €75 | +€2 | +2.0% |
| Recurring financial charges | 65 | €74 | €75 | +€2 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €66,407 | €82,829 | +€16,422 | +24.7% |
| Income taxes | 67/77 | €18,138 | €22,687 | +€4,549 | +25.1% |
| Profit (loss) for the period | 9904 | €48,269 | €60,143 | +€11,873 | +24.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,269 | €60,143 | +€11,873 | +24.6% |
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 20 October 2026 via checked.be.