P.E.ECONOMICS: 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.
P.E.ECONOMICS
Largest movements
- Cash +€140,695
up €140,695 (+60.6%), from €232,323 to €373,018
mainly Net result for the year (+€138,753) and Depreciation (+€7,120)
- Tangible fixed assets -€7,120
down €7,120 (-46.5%), from €15,304 to €8,184
of which Furniture and vehicles: -€6,976
- Reserves +€138,753
up €138,753 (+49.7%), from €279,442 to €418,195
- Current portion of long-term debt -€4,780
down €4,780 (-91.4%), from €5,227 to €447
- Gross operating margin +€2,738
up €2,738 (+1.3%), from €204,795 to €207,533
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 | €291,492 | €425,250 | +€133,758 | +45.9% |
| Fixed assets | 21/28 | €15,304 | €8,184 | -€7,120 | -46.5% |
| Tangible fixed assets | 22/27 | €15,304 | €8,184 | -€7,120 | -46.5% |
| Furniture and vehicles | 24 | €14,862 | €7,886 | -€6,976 | -46.9% |
| Other tangible fixed assets | 26 | €442 | €299 | -€144 | -32.5% |
| Current assets | 29/58 | €276,187 | €417,065 | +€140,878 | +51.0% |
| Amounts receivable within one year | 40/41 | €41,149 | €40,438 | -€711 | -1.7% |
| Trade receivables | 40 | €40,569 | €40,148 | -€421 | -1.0% |
| Other amounts receivable | 41 | €580 | €290 | -€290 | -50.0% |
| Cash at bank and in hand | 54/58 | €232,323 | €373,018 | +€140,695 | +60.6% |
| Deferred charges and accrued income | 490/1 | €2,715 | €3,610 | +€894 | +32.9% |
| Total equity and liabilities | 10/49 | €291,492 | €425,250 | +€133,758 | +45.9% |
| Equity | 10/15 | €284,442 | €423,195 | +€138,753 | +48.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €279,442 | €418,195 | +€138,753 | +49.7% |
| Distributable reserves | 133 | €279,442 | €418,195 | +€138,753 | +49.7% |
| Amounts payable | 17/49 | €7,049 | €2,055 | -€4,995 | -70.9% |
| Amounts payable after more than one year | 17 | €447 | - | -€447 | |
| Financial debts | 170/4 | €447 | - | -€447 | |
| Amounts payable within one year | 42/48 | €6,602 | €2,055 | -€4,547 | -68.9% |
| Current portion of amounts payable after more than one year | 42 | €5,227 | €447 | -€4,780 | -91.4% |
| Financial debts | 43 | €635 | - | -€635 | |
| Credit institutions | 430/8 | €635 | - | -€635 | |
| Taxes, remuneration and social security | 45 | €571 | €1,329 | +€758 | +133% |
| Taxes | 450/3 | €571 | €1,329 | +€758 | +133% |
| Other amounts payable | 47/48 | €168 | €278 | +€110 | +65.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,876 | €7,120 | +€244 | +3.6% |
| Gross operating margin | 9900 | €204,795 | €207,533 | +€2,738 | +1.3% |
| Operating profit (loss) | 9901 | €197,919 | €200,413 | +€2,494 | +1.3% |
| Financial income | 75/76B | €0 | €1 | +€1 | +4,950% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +4,950% |
| Financial charges | 65/66B | €605 | €332 | -€272 | -45.1% |
| Recurring financial charges | 65 | €605 | €332 | -€272 | -45.1% |
| Profit (loss) for the period before taxes | 9903 | €197,315 | €200,082 | +€2,767 | +1.4% |
| Income taxes | 67/77 | €60,571 | €61,329 | +€758 | +1.3% |
| Profit (loss) for the period | 9904 | €136,744 | €138,753 | +€2,009 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €136,744 | €138,753 | +€2,009 | +1.5% |
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 17 October 2026 via checked.be.