La Pipe d'Anvers: 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.
La Pipe d'Anvers
Largest movements
- Current investments -€20,173
down €20,173 (-41.0%), from €49,228 to €29,055
- Cash +€18,107
up €18,107 (+82.3%), from €21,990 to €40,097
mainly Tax, wage and social debts (+€21,995) and Current investments (+€20,173)
- Receivables within one year -€14,835
down €14,835 (-6.1%), from €241,545 to €226,710
of which Trade receivables: -€21,031
- Intangible fixed assets +€3,620
new in 2025: €3,620
- Advances received -€22,358
down €22,358 (-100%), from €22,358 to €0
- Tax, wage and social debts +€21,995
up €21,995 (+16.0%), from €137,524 to €159,519
of which Remuneration and social security: +€16,142
- Profit (loss) carried forward -€8,900
down €8,900 (-51.5%), from €17,265 to €8,365
- Staff costs +€35,998
up €35,998 (+17.7%), from €203,385 to €239,383
- Gross operating margin +€19,291
up €19,291 (+8.6%), from €224,270 to €243,561
- Taxes -€7,710
down €7,710 (-96.4%), from €8,000 to €290
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 | €334,274 | €325,059 | -€9,215 | -2.8% |
| Fixed assets | 21/28 | €13,598 | €19,268 | +€5,670 | +41.7% |
| Intangible fixed assets | 21 | - | €3,620 | +€3,620 | |
| Tangible fixed assets | 22/27 | €12,548 | €14,598 | +€2,050 | +16.3% |
| Plant, machinery and equipment | 23 | €2,550 | €8,659 | +€6,109 | +240% |
| Furniture and vehicles | 24 | €1,552 | €776 | -€776 | -50.0% |
| Leasing and similar rights | 25 | €7,204 | €4,778 | -€2,426 | -33.7% |
| Other tangible fixed assets | 26 | €1,242 | €385 | -€857 | -69.0% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €320,677 | €305,791 | -€14,885 | -4.6% |
| Amounts receivable after more than one year | 29 | €1,288 | €1,288 | = | 0.0% |
| Trade receivables | 290 | €1,288 | €1,288 | = | 0.0% |
| Stocks and contracts in progress | 3 | €6,627 | €8,642 | +€2,015 | +30.4% |
| Stocks | 30/36 | €6,627 | €8,642 | +€2,015 | +30.4% |
| Amounts receivable within one year | 40/41 | €241,545 | €226,710 | -€14,835 | -6.1% |
| Trade receivables | 40 | €41,084 | €20,054 | -€21,031 | -51.2% |
| Other amounts receivable | 41 | €200,460 | €206,656 | +€6,196 | +3.1% |
| Current investments | 50/53 | €49,228 | €29,055 | -€20,173 | -41.0% |
| Cash at bank and in hand | 54/58 | €21,990 | €40,097 | +€18,107 | +82.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €334,274 | €325,059 | -€9,215 | -2.8% |
| Equity | 10/15 | €121,393 | €112,493 | -€8,900 | -7.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €74,128 | €74,128 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €71,128 | €71,128 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,265 | €8,365 | -€8,900 | -51.5% |
| Amounts payable | 17/49 | €212,881 | €212,566 | -€315 | -0.1% |
| Amounts payable within one year | 42/48 | €212,881 | €212,566 | -€315 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €1,928 | €4,884 | +€2,955 | +153% |
| Trade debts | 44 | €45,656 | €44,384 | -€1,272 | -2.8% |
| Suppliers | 440/4 | €45,656 | €44,384 | -€1,272 | -2.8% |
| Advances received on contracts in progress | 46 | €22,358 | €0 | -€22,358 | -100% |
| Taxes, remuneration and social security | 45 | €137,524 | €159,519 | +€21,995 | +16.0% |
| Taxes | 450/3 | €84,313 | €90,166 | +€5,853 | +6.9% |
| Remuneration and social security | 454/9 | €53,211 | €69,353 | +€16,142 | +30.3% |
| Other amounts payable | 47/48 | €5,415 | €3,780 | -€1,635 | -30.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €9,917 | €0 | -€9,917 | -100% |
| Remuneration, social security and pensions | 62 | €203,385 | €239,383 | +€35,998 | +17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,886 | €7,349 | +€462 | +6.7% |
| Other operating charges | 640/8 | €4,937 | €4,444 | -€492 | -10.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €224,270 | €243,561 | +€19,291 | +8.6% |
| Operating profit (loss) | 9901 | €9,062 | -€7,615 | -€16,677 | |
| Financial income | 75/76B | €347 | €1,332 | +€985 | +284% |
| Recurring financial income | 75 | €347 | €1,332 | +€985 | +284% |
| Financial charges | 65/66B | €3,083 | €2,327 | -€756 | -24.5% |
| Recurring financial charges | 65 | €3,083 | €2,327 | -€756 | -24.5% |
| Profit (loss) for the period before taxes | 9903 | €6,325 | -€8,610 | -€14,936 | |
| Income taxes | 67/77 | €8,000 | €290 | -€7,710 | -96.4% |
| Profit (loss) for the period | 9904 | -€1,675 | -€8,900 | -€7,225 | -431% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,675 | -€8,900 | -€7,225 | -431% |
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 29 October 2026 via checked.be.