Dr. Stefanie Pecceu: 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. Stefanie Pecceu
Largest movements
- Cash +€104,646
up €104,646 (+94.7%), from €110,545 to €215,190
mainly Net result for the year (+€133,412) and Depreciation (+€3,887)
- Receivables within one year +€9,127
new in 2024: €9,127
- Tangible fixed assets -€2,688
down €2,688 (-28.9%), from €9,307 to €6,619
- Reserves +€133,412
up €133,412 (+123%), from €108,525 to €241,936
- Tax, wage and social debts -€20,358
down €20,358 (-72.4%), from €28,133 to €7,776
- Gross operating margin +€61,357
up €61,357 (+54.1%), from €113,345 to €174,703
- Taxes +€15,637
up €15,637 (+68.9%), from €22,708 to €38,345
- Financial income +€1,837
new in 2024: €1,837
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 | €140,827 | €252,494 | +€111,667 | +79.3% |
| Fixed assets | 21/28 | €9,307 | €6,619 | -€2,688 | -28.9% |
| Tangible fixed assets | 22/27 | €9,307 | €6,619 | -€2,688 | -28.9% |
| Plant, machinery and equipment | 23 | €1,569 | €782 | -€788 | -50.2% |
| Furniture and vehicles | 24 | €2,360 | €1,601 | -€759 | -32.1% |
| Other tangible fixed assets | 26 | €5,378 | €4,236 | -€1,142 | -21.2% |
| Current assets | 29/58 | €131,520 | €245,875 | +€114,355 | +86.9% |
| Amounts receivable within one year | 40/41 | - | €9,127 | +€9,127 | |
| Other amounts receivable | 41 | - | €9,127 | +€9,127 | |
| Cash at bank and in hand | 54/58 | €110,545 | €215,190 | +€104,646 | +94.7% |
| Deferred charges and accrued income | 490/1 | €20,975 | €21,557 | +€582 | +2.8% |
| Total equity and liabilities | 10/49 | €140,827 | €252,494 | +€111,667 | +79.3% |
| Equity | 10/15 | €110,525 | €243,936 | +€133,412 | +121% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €108,525 | €241,936 | +€133,412 | +123% |
| Distributable reserves | 133 | €108,525 | €241,936 | +€133,412 | +123% |
| Amounts payable | 17/49 | €30,302 | €8,557 | -€21,745 | -71.8% |
| Amounts payable within one year | 42/48 | €30,302 | €8,557 | -€21,745 | -71.8% |
| Trade debts | 44 | €747 | €782 | +€34 | +4.6% |
| Suppliers | 440/4 | €747 | €782 | +€34 | +4.6% |
| Taxes, remuneration and social security | 45 | €28,133 | €7,776 | -€20,358 | -72.4% |
| Taxes | 450/3 | €28,133 | €7,776 | -€20,358 | -72.4% |
| Other amounts payable | 47/48 | €1,422 | - | -€1,422 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,287 | €3,887 | +€1,600 | +69.9% |
| Other operating charges | 640/8 | €847 | €513 | -€334 | -39.4% |
| Gross operating margin | 9900 | €113,345 | €174,703 | +€61,357 | +54.1% |
| Operating profit (loss) | 9901 | €110,211 | €170,302 | +€60,091 | +54.5% |
| Financial income | 75/76B | - | €1,837 | +€1,837 | |
| Recurring financial income | 75 | - | €1,837 | +€1,837 | |
| Financial charges | 65/66B | €122 | €382 | +€261 | +214% |
| Recurring financial charges | 65 | €122 | €382 | +€261 | +214% |
| Profit (loss) for the period before taxes | 9903 | €110,089 | €171,757 | +€61,667 | +56.0% |
| Income taxes | 67/77 | €22,708 | €38,345 | +€15,637 | +68.9% |
| Profit (loss) for the period | 9904 | €87,382 | €133,412 | +€46,030 | +52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €87,382 | €133,412 | +€46,030 | +52.7% |
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 27 October 2026 via checked.be.