Erik Pieters: what changed
Erik Pieters
Largest movements
- Intangible fixed assets -€62,719
down €62,719 (-15.0%), from €419,446 to €356,727
- Receivables within one year +€32,907
up €32,907 (+16.0%), from €205,771 to €238,678
of which Other amounts receivable: +€31,400
- Tangible fixed assets -€20,843
down €20,843 (-28.0%), from €74,345 to €53,502
of which Furniture and vehicles: -€21,627
- Cash -€14,581
down €14,581 (-24.5%), from €59,436 to €44,855
mainly Debts after one year (-€76,683) and Receivables within one year (-€32,907)
- Debts after one year -€76,683
down €76,683 (-13.9%), from €553,624 to €476,941
- Trade debts +€25,608
up €25,608 (+114%), from €22,492 to €48,100
- Staff costs -€65,210
down €65,210 (-29.6%), from €220,127 to €154,918
- Gross operating margin -€13,166
down €13,166 (-4.5%), from €295,164 to €281,998
- Financial charges +€12,467
up €12,467 (+136%), from €9,173 to €21,640
of which Non-recurring financial charges: +€12,771
- Taxes +€12,059
up €12,059 (+808%), from €1,492 to €13,552
- Other operating charges +€4,228
up €4,228 (+102%), from €4,150 to €8,377
Change in the result, 2023 to 2024
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 2023 and 2024 balance sheets and the 2024 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 | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €783,356 | €720,896 | -€62,460 | -8.0% |
| Fixed assets | 21/28 | €493,791 | €410,228 | -€83,562 | -16.9% |
| Intangible fixed assets | 21 | €419,446 | €356,727 | -€62,719 | -15.0% |
| Tangible fixed assets | 22/27 | €74,345 | €53,502 | -€20,843 | -28.0% |
| Land and buildings | 22 | €23,879 | €21,276 | -€2,603 | -10.9% |
| Plant, machinery and equipment | 23 | - | €3,387 | +€3,387 | |
| Furniture and vehicles | 24 | €50,466 | €28,839 | -€21,627 | -42.9% |
| Current assets | 29/58 | €289,565 | €310,668 | +€21,103 | +7.3% |
| Amounts receivable within one year | 40/41 | €205,771 | €238,678 | +€32,907 | +16.0% |
| Trade receivables | 40 | €37,802 | €39,310 | +€1,508 | +4.0% |
| Other amounts receivable | 41 | €167,968 | €199,368 | +€31,400 | +18.7% |
| Cash at bank and in hand | 54/58 | €59,436 | €44,855 | -€14,581 | -24.5% |
| Deferred charges and accrued income | 490/1 | €24,358 | €27,135 | +€2,777 | +11.4% |
| Total equity and liabilities | 10/49 | €783,356 | €720,896 | -€62,460 | -8.0% |
| Equity | 10/15 | €80,519 | €80,336 | -€184 | -0.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €70,519 | €70,336 | -€184 | -0.3% |
| Distributable reserves | 133 | €70,519 | €70,336 | -€184 | -0.3% |
| Amounts payable | 17/49 | €702,837 | €640,561 | -€62,276 | -8.9% |
| Amounts payable after more than one year | 17 | €553,624 | €476,941 | -€76,683 | -13.9% |
| Financial debts | 170/4 | €553,624 | €476,941 | -€76,683 | -13.9% |
| Amounts payable within one year | 42/48 | €144,707 | €163,620 | +€18,913 | +13.1% |
| Current portion of amounts payable after more than one year | 42 | €75,755 | €76,683 | +€928 | +1.2% |
| Trade debts | 44 | €22,492 | €48,100 | +€25,608 | +114% |
| Suppliers | 440/4 | €22,492 | €48,100 | +€25,608 | +114% |
| Taxes, remuneration and social security | 45 | €46,460 | €38,837 | -€7,623 | -16.4% |
| Taxes | 450/3 | €12,175 | €19,478 | +€7,303 | +60.0% |
| Remuneration and social security | 454/9 | €34,285 | €19,359 | -€14,926 | -43.5% |
| Accrued charges and deferred income | 492/3 | €4,506 | - | -€4,506 | |
| Remuneration, social security and pensions | 62 | €220,127 | €154,918 | -€65,210 | -29.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,292 | €87,547 | +€256 | +0.3% |
| Other operating charges | 640/8 | €4,150 | €8,377 | +€4,228 | +102% |
| Gross operating margin | 9900 | €295,164 | €281,998 | -€13,166 | -4.5% |
| Operating profit (loss) | 9901 | -€16,404 | €31,156 | +€47,560 | |
| Financial income | 75/76B | €4,021 | €3,852 | -€168 | -4.2% |
| Recurring financial income | 75 | €4,021 | €3,852 | -€168 | -4.2% |
| Financial charges | 65/66B | €9,173 | €21,640 | +€12,467 | +136% |
| Recurring financial charges | 65 | €9,173 | €8,869 | -€305 | -3.3% |
| Non-recurring financial charges | 66B | - | €12,771 | +€12,771 | |
| Profit (loss) for the period before taxes | 9903 | -€21,557 | €13,368 | +€34,925 | |
| Income taxes | 67/77 | €1,492 | €13,552 | +€12,059 | +808% |
| Profit (loss) for the period | 9904 | -€23,049 | -€184 | +€22,866 | +99.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,049 | -€184 | +€22,866 | +99.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.