FIETSEN PELEMAN: 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.
FIETSEN PELEMAN
Largest movements
- Receivables within one year -€119,748
down €119,748 (-90.8%), from €131,898 to €12,150
of which Other amounts receivable: -€101,098
- Stocks and contracts +€72,499
up €72,499 (+36.7%), from €197,353 to €269,852
- Deferred charges and accrued income +€31,021
up €31,021 (+6,719%), from €462 to €31,483
- Tangible fixed assets -€20,309
down €20,309 (-4.1%), from €501,433 to €481,124
of which Land and buildings: -€22,156
- Trade debts -€121,522
down €121,522 (-71.7%), from €169,403 to €47,881
- Debts after one year +€96,370
up €96,370 (+27.3%), from €352,556 to €448,926
- Current portion of long-term debt -€39,328
down €39,328 (-36.3%), from €108,423 to €69,095
- Short-term financial debts +€35,135
up €35,135 (+39.0%), from €90,008 to €125,143
- Profit (loss) carried forward -€21,782
down €21,782 (-77.6%), from -€28,084 to -€49,866
- Financial charges +€14,848
up €14,848 (+34.2%), from €43,398 to €58,246
- Financial income -€5,584
down €5,584 (-78.7%), from €7,095 to €1,511
- Gross operating margin +€3,680
up €3,680 (+5.5%), from €67,036 to €70,716
- Other operating charges +€790
up €790 (+27.8%), from €2,840 to €3,630
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 | €840,896 | €798,673 | -€42,223 | -5.0% |
| Formation expenses | 20 | €3,498 | €2,798 | -€700 | -20.0% |
| Fixed assets | 21/28 | €501,433 | €481,124 | -€20,309 | -4.1% |
| Tangible fixed assets | 22/27 | €501,433 | €481,124 | -€20,309 | -4.1% |
| Land and buildings | 22 | €499,960 | €477,804 | -€22,156 | -4.4% |
| Plant, machinery and equipment | 23 | €736 | €172 | -€563 | -76.6% |
| Furniture and vehicles | 24 | €738 | €3,149 | +€2,411 | +327% |
| Current assets | 29/58 | €335,965 | €314,751 | -€21,214 | -6.3% |
| Stocks and contracts in progress | 3 | €197,353 | €269,852 | +€72,499 | +36.7% |
| Stocks | 30/36 | €197,353 | €269,852 | +€72,499 | +36.7% |
| Amounts receivable within one year | 40/41 | €131,898 | €12,150 | -€119,748 | -90.8% |
| Trade receivables | 40 | €18,693 | €43 | -€18,650 | -99.8% |
| Other amounts receivable | 41 | €113,205 | €12,107 | -€101,098 | -89.3% |
| Cash at bank and in hand | 54/58 | €6,252 | €1,266 | -€4,987 | -79.8% |
| Deferred charges and accrued income | 490/1 | €462 | €31,483 | +€31,021 | +6,719% |
| Total equity and liabilities | 10/49 | €840,896 | €798,673 | -€42,223 | -5.0% |
| Equity | 10/15 | €81,916 | €60,134 | -€21,782 | -26.6% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,084 | -€49,866 | -€21,782 | -77.6% |
| Amounts payable | 17/49 | €758,979 | €738,539 | -€20,441 | -2.7% |
| Amounts payable after more than one year | 17 | €352,556 | €448,926 | +€96,370 | +27.3% |
| Financial debts | 170/4 | €352,556 | €448,926 | +€96,370 | +27.3% |
| Amounts payable within one year | 42/48 | €406,423 | €285,654 | -€120,770 | -29.7% |
| Current portion of amounts payable after more than one year | 42 | €108,423 | €69,095 | -€39,328 | -36.3% |
| Financial debts | 43 | €90,008 | €125,143 | +€35,135 | +39.0% |
| Credit institutions | 430/8 | €90,008 | €125,143 | +€35,135 | +39.0% |
| Trade debts | 44 | €169,403 | €47,881 | -€121,522 | -71.7% |
| Suppliers | 440/4 | €169,403 | €47,881 | -€121,522 | -71.7% |
| Advances received on contracts in progress | 46 | €236 | €236 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €38,354 | €43,298 | +€4,944 | +12.9% |
| Taxes | 450/3 | €35,469 | €40,339 | +€4,870 | +13.7% |
| Remuneration and social security | 454/9 | €2,885 | €2,959 | +€74 | +2.6% |
| Accrued charges and deferred income | 492/3 | - | €3,959 | +€3,959 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,636 | €25,023 | +€387 | +1.6% |
| Other operating charges | 640/8 | €2,840 | €3,630 | +€790 | +27.8% |
| Non-recurring operating charges | 66A | €7,478 | €7,068 | -€410 | -5.5% |
| Gross operating margin | 9900 | €67,036 | €70,716 | +€3,680 | +5.5% |
| Operating profit (loss) | 9901 | €32,082 | €34,995 | +€2,913 | +9.1% |
| Financial income | 75/76B | €7,095 | €1,511 | -€5,584 | -78.7% |
| Recurring financial income | 75 | €7,095 | €1,511 | -€5,584 | -78.7% |
| Financial charges | 65/66B | €43,398 | €58,246 | +€14,848 | +34.2% |
| Recurring financial charges | 65 | €43,398 | €58,246 | +€14,848 | +34.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,221 | -€21,740 | -€17,519 | -415% |
| Income taxes | 67/77 | €381 | €43 | -€339 | -88.8% |
| Profit (loss) for the period | 9904 | -€4,602 | -€21,782 | -€17,181 | -373% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,602 | -€21,782 | -€17,181 | -373% |
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 27 October 2026 via checked.be.