KLEPPER Pascal: what changed
Two fiscal 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.
KLEPPER Pascal
Largest movements
- Tangible fixed assets -€64,871
down €64,871 (-10.4%), from €622,184 to €557,313
of which Leasing and similar rights: -€59,653
- Cash -€32,443
down €32,443 (-19.6%), from €165,295 to €132,851
mainly Contributions, distributions and other (-€155,000) and Debts after one year (-€70,359)
- Stocks and contracts +€29,994
up €29,994 (+51.1%), from €58,662 to €88,656
- Receivables within one year +€24,285
up €24,285 (+61.1%), from €39,719 to €64,004
of which Other amounts receivable: +€42,380
- Deferred charges and accrued income +€10,356
up €10,356 (+95.6%), from €10,834 to €21,189
- Debts after one year -€70,359
down €70,359 (-15.0%), from €469,829 to €399,470
- Trade debts +€31,160
up €31,160 (+234.5%), from €13,288 to €44,448
- Advances received +€20,962
up €20,962 (+72.3%), from €29,000 to €49,962
- Gross operating margin +€91,339
up €91,339 (+20.6%), from €442,568 to €533,907
- Taxes +€40,493
up €40,493 (+228.0%), from €17,759 to €58,251
- Depreciation +€36,206
up €36,206 (+54.6%), from €66,350 to €102,556
- Write-downs +€15,900
new in 2025: €15,900
- Other operating charges +€10,171
up €10,171 (+175.3%), from €5,802 to €15,974
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.
Cash bridge derived
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 | €897,036 | €864,356 | -€32,679 | -3.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €622,527 | €557,656 | -€64,871 | -10.4% |
| Tangible fixed assets | 22/27 | €622,184 | €557,313 | -€64,871 | -10.4% |
| Land and buildings | 22 | €48,877 | €41,537 | -€7,341 | -15.0% |
| Plant, machinery and equipment | 23 | €28,304 | €21,941 | -€6,363 | -22.5% |
| Furniture and vehicles | 24 | €791 | €9,276 | +€8,486 | +1073.2% |
| Leasing and similar rights | 25 | €544,212 | €484,559 | -€59,653 | -11.0% |
| Financial fixed assets | 28 | €343 | €343 | = | 0.0% |
| Current assets | 29/58 | €274,509 | €306,700 | +€32,192 | +11.7% |
| Stocks and contracts in progress | 3 | €58,662 | €88,656 | +€29,994 | +51.1% |
| Stocks | 30/36 | €58,662 | €88,656 | +€29,994 | +51.1% |
| Amounts receivable within one year | 40/41 | €39,719 | €64,004 | +€24,285 | +61.1% |
| Trade receivables | 40 | €34,249 | €16,154 | -€18,094 | -52.8% |
| Other amounts receivable | 41 | €5,470 | €47,850 | +€42,380 | +774.8% |
| Cash at bank and in hand | 54/58 | €165,295 | €132,851 | -€32,443 | -19.6% |
| Deferred charges and accrued income | 490/1 | €10,834 | €21,189 | +€10,356 | +95.6% |
| Total equity and liabilities | 10/49 | €897,036 | €864,356 | -€32,679 | -3.6% |
| Equity | 10/15 | €80,990 | €74,446 | -€6,544 | -8.1% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €72,582 | €65,082 | -€7,500 | -10.3% |
| Tax-exempt reserves | 132 | €72,582 | €65,082 | -€7,500 | -10.3% |
| Profit (loss) carried forward | 14 | €2,211 | €3,167 | +€956 | +43.3% |
| Provisions and deferred taxes | 16 | €24,194 | €21,694 | -€2,500 | -10.3% |
| Deferred taxes | 168 | €24,194 | €21,694 | -€2,500 | -10.3% |
| Amounts payable | 17/49 | €791,852 | €768,216 | -€23,636 | -3.0% |
| Amounts payable after more than one year | 17 | €469,829 | €399,470 | -€70,359 | -15.0% |
| Financial debts | 170/4 | €469,829 | €399,470 | -€70,359 | -15.0% |
| Amounts payable within one year | 42/48 | €322,023 | €368,746 | +€46,723 | +14.5% |
| Current portion of amounts payable after more than one year | 42 | €92,934 | €89,948 | -€2,986 | -3.2% |
| Trade debts | 44 | €13,288 | €44,448 | +€31,160 | +234.5% |
| Suppliers | 440/4 | €13,288 | €44,448 | +€31,160 | +234.5% |
| Advances received on contracts in progress | 46 | €29,000 | €49,962 | +€20,962 | +72.3% |
| Taxes, remuneration and social security | 45 | €24,178 | €29,188 | +€5,010 | +20.7% |
| Taxes | 450/3 | €14,546 | €18,611 | +€4,065 | +27.9% |
| Remuneration and social security | 454/9 | €9,631 | €10,577 | +€945 | +9.8% |
| Other amounts payable | 47/48 | €162,623 | €155,200 | -€7,423 | -4.6% |
| Remuneration, social security and pensions | 62 | €169,211 | €177,456 | +€8,245 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,350 | €102,556 | +€36,206 | +54.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €15,900 | +€15,900 | |
| Other operating charges | 640/8 | €5,802 | €15,974 | +€10,171 | +175.3% |
| Gross operating margin | 9900 | €442,568 | €533,907 | +€91,339 | +20.6% |
| Operating profit (loss) | 9901 | €201,205 | €222,022 | +€20,817 | +10.3% |
| Financial income | 75/76B | €8,074 | €6,093 | -€1,981 | -24.5% |
| Recurring financial income | 75 | €8,074 | €6,093 | -€1,981 | -24.5% |
| Financial charges | 65/66B | €17,890 | €23,907 | +€6,017 | +33.6% |
| Recurring financial charges | 65 | €17,890 | €23,907 | +€6,017 | +33.6% |
| Profit (loss) for the period before taxes | 9903 | €191,389 | €204,208 | +€12,818 | +6.7% |
| Transfer from deferred taxes | 780 | €806 | €2,500 | +€1,694 | +210.2% |
| Transfer to deferred taxes | 680 | €25,000 | - | -€25,000 | |
| Income taxes | 67/77 | €17,759 | €58,251 | +€40,493 | +228.0% |
| Profit (loss) for the period | 9904 | €149,437 | €148,456 | -€980 | -0.7% |
| Transfer from tax-exempt reserves | 789 | €2,418 | €7,500 | +€5,082 | +210.2% |
| Transfer to tax-exempt reserves | 689 | €75,000 | - | -€75,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €76,855 | €155,956 | +€79,102 | +102.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.