P. BLEECKX: 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.
P. BLEECKX
Largest movements
- Receivables within one year +€42,950
up €42,950 (+50.1%), from €85,787 to €128,737
of which Trade receivables: +€44,137
- Tangible fixed assets -€16,240
down €16,240 (-20.8%), from €78,125 to €61,885
of which Furniture and vehicles: -€14,184
- Cash +€6,348
up €6,348 (+235.1%), from €2,700 to €9,048
mainly Other debts (+€72,482) and Depreciation (+€16,240)
- Stocks and contracts -€3,274
down €3,274 (-8.1%), from €40,234 to €36,960
of which Contracts in progress: -€4,800
- Other debts +€72,482
up €72,482 (+28.3%), from €256,225 to €328,707
- Profit (loss) carried forward -€21,861
down €21,861 (-12.6%), from -€173,300 to -€195,161
- Tax, wage and social debts -€14,445
down €14,445 (-56.9%), from €25,404 to €10,959
of which Remuneration and social security: -€14,701
- Trade debts -€5,950
down €5,950 (-23.8%), from €25,026 to €19,076
- Staff costs -€75,875
down €75,875 (-41.2%), from €184,306 to €108,431
- Depreciation +€13,541
up €13,541 (+501.7%), from €2,699 to €16,240
- Gross operating margin -€7,531
down €7,531 (-6.8%), from €110,038 to €102,507
- Financial charges -€2,075
down €2,075 (-83.8%), from €2,476 to €402
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 | €208,036 | €238,262 | +€30,226 | +14.5% |
| Fixed assets | 21/28 | €78,125 | €61,885 | -€16,240 | -20.8% |
| Tangible fixed assets | 22/27 | €78,125 | €61,885 | -€16,240 | -20.8% |
| Plant, machinery and equipment | 23 | €8,443 | €6,387 | -€2,056 | -24.4% |
| Furniture and vehicles | 24 | €69,682 | €55,497 | -€14,184 | -20.4% |
| Current assets | 29/58 | €129,911 | €176,378 | +€46,467 | +35.8% |
| Stocks and contracts in progress | 3 | €40,234 | €36,960 | -€3,274 | -8.1% |
| Stocks | 30/36 | €20,034 | €21,560 | +€1,526 | +7.6% |
| Contracts in progress | 37 | €20,200 | €15,400 | -€4,800 | -23.8% |
| Amounts receivable within one year | 40/41 | €85,787 | €128,737 | +€42,950 | +50.1% |
| Trade receivables | 40 | €66,432 | €110,568 | +€44,137 | +66.4% |
| Other amounts receivable | 41 | €19,356 | €18,169 | -€1,187 | -6.1% |
| Cash at bank and in hand | 54/58 | €2,700 | €9,048 | +€6,348 | +235.1% |
| Deferred charges and accrued income | 490/1 | €1,189 | €1,632 | +€443 | +37.2% |
| Total equity and liabilities | 10/49 | €208,036 | €238,262 | +€30,226 | +14.5% |
| Equity | 10/15 | -€154,618 | -€176,479 | -€21,861 | -14.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €82 | €82 | = | 0.0% |
| Tax-exempt reserves | 132 | €82 | €82 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€173,300 | -€195,161 | -€21,861 | -12.6% |
| Provisions and deferred taxes | 16 | €56,000 | €56,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €56,000 | €56,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €56,000 | €56,000 | = | 0.0% |
| Amounts payable | 17/49 | €306,654 | €358,741 | +€52,087 | +17.0% |
| Amounts payable within one year | 42/48 | €306,654 | €358,741 | +€52,087 | +17.0% |
| Trade debts | 44 | €25,026 | €19,076 | -€5,950 | -23.8% |
| Suppliers | 440/4 | €25,026 | €19,076 | -€5,950 | -23.8% |
| Taxes, remuneration and social security | 45 | €25,404 | €10,959 | -€14,445 | -56.9% |
| Taxes | 450/3 | €46 | €302 | +€256 | +551.5% |
| Remuneration and social security | 454/9 | €25,357 | €10,657 | -€14,701 | -58.0% |
| Other amounts payable | 47/48 | €256,225 | €328,707 | +€72,482 | +28.3% |
| Remuneration, social security and pensions | 62 | €184,306 | €108,431 | -€75,875 | -41.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,699 | €16,240 | +€13,541 | +501.7% |
| Other operating charges | 640/8 | €897 | €120 | -€777 | -86.6% |
| Gross operating margin | 9900 | €110,038 | €102,507 | -€7,531 | -6.8% |
| Operating profit (loss) | 9901 | -€77,864 | -€22,284 | +€55,580 | +71.4% |
| Financial income | 75/76B | €6 | €1,081 | +€1,074 | +17357.4% |
| Recurring financial income | 75 | €6 | €1,081 | +€1,074 | +17357.4% |
| Financial charges | 65/66B | €2,476 | €402 | -€2,075 | -83.8% |
| Recurring financial charges | 65 | €2,476 | €402 | -€2,075 | -83.8% |
| Profit (loss) for the period before taxes | 9903 | -€80,335 | -€21,605 | +€58,729 | +73.1% |
| Income taxes | 67/77 | €46 | €256 | +€209 | +451.5% |
| Profit (loss) for the period | 9904 | -€80,381 | -€21,861 | +€58,520 | +72.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€80,381 | -€21,861 | +€58,520 | +72.8% |
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 5 October 2026 via checked.be.