DR. SOFIE PELCKMANS: 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. SOFIE PELCKMANS
Largest movements
- Tangible fixed assets +€156,853
up €156,853 (+35.9%), from €436,630 to €593,483
of which Land and buildings: +€155,914
- Receivables within one year +€44,175
up €44,175 (+8.6%), from €512,743 to €556,918
of which Other amounts receivable: +€50,382
- Cash -€31,611
down €31,611 (-19.3%), from €163,878 to €132,267
mainly Investment in fixed assets (net) (-€182,910) and Debts after one year (-€44,778)
- Reserves +€164,780
up €164,780 (+31.3%), from €526,986 to €691,766
of which Distributable reserves: +€164,780
- Debts after one year -€44,778
down €44,778 (-9.5%), from €470,083 to €425,306
- Trade debts +€43,390
up €43,390 (+160%), from €27,111 to €70,501
- Gross operating margin -€240,600
down €240,600 (-50.0%), from €480,934 to €240,334
- Taxes -€65,521
down €65,521 (-50.0%), from €130,977 to €65,456
- Depreciation -€40,678
down €40,678 (-61.0%), from €66,734 to €26,057
- Financial income +€17,601
up €17,601 (+132%), from €13,317 to €30,918
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,156,810 | €1,326,830 | +€170,020 | +14.7% |
| Fixed assets | 21/28 | €436,630 | €593,483 | +€156,853 | +35.9% |
| Tangible fixed assets | 22/27 | €436,630 | €593,483 | +€156,853 | +35.9% |
| Land and buildings | 22 | €266,388 | €422,302 | +€155,914 | +58.5% |
| Plant, machinery and equipment | 23 | €1,814 | €1,122 | -€692 | -38.1% |
| Furniture and vehicles | 24 | €19,140 | €19,987 | +€847 | +4.4% |
| Other tangible fixed assets | 26 | €149,288 | €150,071 | +€784 | +0.5% |
| Current assets | 29/58 | €720,180 | €733,348 | +€13,167 | +1.8% |
| Amounts receivable after more than one year | 29 | €35,280 | €36,257 | +€976 | +2.8% |
| Other amounts receivable | 291 | €35,280 | €36,257 | +€976 | +2.8% |
| Amounts receivable within one year | 40/41 | €512,743 | €556,918 | +€44,175 | +8.6% |
| Trade receivables | 40 | €14,730 | €8,523 | -€6,207 | -42.1% |
| Other amounts receivable | 41 | €498,012 | €548,395 | +€50,382 | +10.1% |
| Cash at bank and in hand | 54/58 | €163,878 | €132,267 | -€31,611 | -19.3% |
| Deferred charges and accrued income | 490/1 | €8,279 | €7,907 | -€373 | -4.5% |
| Total equity and liabilities | 10/49 | €1,156,810 | €1,326,830 | +€170,020 | +14.7% |
| Equity | 10/15 | €562,186 | €726,966 | +€164,780 | +29.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €526,986 | €691,766 | +€164,780 | +31.3% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €525,131 | €689,911 | +€164,780 | +31.4% |
| Profit (loss) carried forward | 14 | €16,650 | €16,651 | +€0 | 0.0% |
| Amounts payable | 17/49 | €594,624 | €599,864 | +€5,240 | +0.9% |
| Amounts payable after more than one year | 17 | €470,083 | €425,306 | -€44,778 | -9.5% |
| Financial debts | 170/4 | €470,083 | €425,306 | -€44,778 | -9.5% |
| Amounts payable within one year | 42/48 | €124,540 | €174,558 | +€50,018 | +40.2% |
| Current portion of amounts payable after more than one year | 42 | €48,333 | €44,778 | -€3,556 | -7.4% |
| Trade debts | 44 | €27,111 | €70,501 | +€43,390 | +160% |
| Suppliers | 440/4 | €27,111 | €70,501 | +€43,390 | +160% |
| Taxes, remuneration and social security | 45 | €48,078 | €59,004 | +€10,926 | +22.7% |
| Taxes | 450/3 | €48,078 | €59,004 | +€10,926 | +22.7% |
| Other amounts payable | 47/48 | €1,018 | €275 | -€743 | -73.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,734 | €26,057 | -€40,678 | -61.0% |
| Other operating charges | 640/8 | €4,806 | €4,297 | -€509 | -10.6% |
| Gross operating margin | 9900 | €480,934 | €240,334 | -€240,600 | -50.0% |
| Operating profit (loss) | 9901 | €409,393 | €209,980 | -€199,413 | -48.7% |
| Financial income | 75/76B | €13,317 | €30,918 | +€17,601 | +132% |
| Recurring financial income | 75 | €13,317 | €30,918 | +€17,601 | +132% |
| Financial charges | 65/66B | €7,820 | €10,662 | +€2,842 | +36.3% |
| Recurring financial charges | 65 | €7,820 | €10,662 | +€2,842 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | €414,890 | €230,236 | -€184,654 | -44.5% |
| Income taxes | 67/77 | €130,977 | €65,456 | -€65,521 | -50.0% |
| Profit (loss) for the period | 9904 | €283,914 | €164,780 | -€119,133 | -42.0% |
| Profit (loss) for the period to be appropriated | 9905 | €283,914 | €164,780 | -€119,133 | -42.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.