P. BEURSKENS: what changed
P. BEURSKENS
Largest movements
- Receivables after one year +€50,317
up €50,317 (+436%), from €11,550 to €61,867
- Tangible fixed assets -€20,661
down €20,661 (-27.2%), from €75,937 to €55,276
of which Furniture and vehicles: -€20,421
- Cash +€10,265
up €10,265 (+13.1%), from €78,206 to €88,472
mainly Net result for the year (+€57,770) and Depreciation (+€20,661)
- Receivables within one year +€9,324
up €9,324 (+44.1%), from €21,135 to €30,459
of which Other amounts receivable: +€6,200
- Reserves +€57,770
up €57,770 (+81.3%), from €71,032 to €128,802
- Debts after one year -€23,192
down €23,192 (-36.1%), from €64,297 to €41,105
- Current portion of long-term debt +€20,000
up €20,000 (+86.2%), from €23,192 to €43,192
- Tax, wage and social debts -€9,735
down €9,735 (-34.6%), from €28,144 to €18,409
of which Taxes: -€12,235
- Trade debts +€4,401
up €4,401 (+2,700%), from €163 to €4,564
- Gross operating margin +€22,886
up €22,886 (+27.9%), from €82,162 to €105,048
- Depreciation +€4,763
up €4,763 (+30.0%), from €15,898 to €20,661
- Taxes +€4,489
up €4,489 (+25.6%), from €17,540 to €22,029
- Financial charges +€2,621
up €2,621 (+207%), from €1,266 to €3,887
- Staff costs -€1,184
no longer reported in 2025 (was €1,184)
Change in the result, 2024 to 2025
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 2024 and 2025 balance sheets and the 2025 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 | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €186,828 | €236,073 | +€49,245 | +26.4% |
| Fixed assets | 21/28 | €75,937 | €55,276 | -€20,661 | -27.2% |
| Tangible fixed assets | 22/27 | €75,937 | €55,276 | -€20,661 | -27.2% |
| Plant, machinery and equipment | 23 | €3,169 | €2,929 | -€240 | -7.6% |
| Furniture and vehicles | 24 | €72,768 | €52,347 | -€20,421 | -28.1% |
| Current assets | 29/58 | €110,891 | €180,797 | +€69,906 | +63.0% |
| Amounts receivable after more than one year | 29 | €11,550 | €61,867 | +€50,317 | +436% |
| Other amounts receivable | 291 | €11,550 | €61,867 | +€50,317 | +436% |
| Amounts receivable within one year | 40/41 | €21,135 | €30,459 | +€9,324 | +44.1% |
| Trade receivables | 40 | €775 | €3,898 | +€3,123 | +403% |
| Other amounts receivable | 41 | €20,360 | €26,560 | +€6,200 | +30.5% |
| Cash at bank and in hand | 54/58 | €78,206 | €88,472 | +€10,265 | +13.1% |
| Total equity and liabilities | 10/49 | €186,828 | €236,073 | +€49,245 | +26.4% |
| Equity | 10/15 | €71,032 | €128,802 | +€57,770 | +81.3% |
| Reserves | 13 | €71,032 | €128,802 | +€57,770 | +81.3% |
| Distributable reserves | 133 | €71,032 | €128,802 | +€57,770 | +81.3% |
| Amounts payable | 17/49 | €115,796 | €107,271 | -€8,525 | -7.4% |
| Amounts payable after more than one year | 17 | €64,297 | €41,105 | -€23,192 | -36.1% |
| Financial debts | 170/4 | €64,297 | €41,105 | -€23,192 | -36.1% |
| Amounts payable within one year | 42/48 | €51,499 | €66,166 | +€14,667 | +28.5% |
| Current portion of amounts payable after more than one year | 42 | €23,192 | €43,192 | +€20,000 | +86.2% |
| Trade debts | 44 | €163 | €4,564 | +€4,401 | +2,700% |
| Suppliers | 440/4 | €163 | €4,564 | +€4,401 | +2,700% |
| Taxes, remuneration and social security | 45 | €28,144 | €18,409 | -€9,735 | -34.6% |
| Taxes | 450/3 | €28,144 | €15,909 | -€12,235 | -43.5% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Remuneration, social security and pensions | 62 | €1,184 | - | -€1,184 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,898 | €20,661 | +€4,763 | +30.0% |
| Other operating charges | 640/8 | €998 | €701 | -€297 | -29.7% |
| Gross operating margin | 9900 | €82,162 | €105,048 | +€22,886 | +27.9% |
| Operating profit (loss) | 9901 | €64,082 | €83,686 | +€19,604 | +30.6% |
| Financial charges | 65/66B | €1,266 | €3,887 | +€2,621 | +207% |
| Recurring financial charges | 65 | €1,266 | €3,887 | +€2,621 | +207% |
| Profit (loss) for the period before taxes | 9903 | €62,816 | €79,800 | +€16,984 | +27.0% |
| Income taxes | 67/77 | €17,540 | €22,029 | +€4,489 | +25.6% |
| Profit (loss) for the period | 9904 | €45,276 | €57,770 | +€12,495 | +27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,276 | €57,770 | +€12,495 | +27.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.