P/E Management: 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 Management
Largest movements
- Tangible fixed assets -€10,703
down €10,703 (-4.3%), from €246,762 to €236,059
of which Land and buildings: -€13,095
- Cash -€6,101
down €6,101 (-26.0%), from €23,502 to €17,401
- Other debts +€27,532
up €27,532 (+24.2%), from €113,959 to €141,490
- Debts after one year -€21,297
down €21,297 (-10.5%), from €202,516 to €181,218
- Profit (loss) carried forward -€19,610
down €19,610 (-37.3%), from -€52,593 to -€72,203
- Other operating charges +€922
up €922 (+94.0%), from €980 to €1,902
- Financial charges -€465
down €465 (-9.1%), from €5,098 to €4,633
- Depreciation -€328
down €328 (-3.8%), from €8,527 to €8,200
From the 2022 result to the 2024 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €277,692 | €264,132 | -€13,560 | -4.9% |
| Fixed assets | 21/28 | €246,762 | €237,684 | -€9,078 | -3.7% |
| Tangible fixed assets | 22/27 | €246,762 | €236,059 | -€10,703 | -4.3% |
| Land and buildings | 22 | €244,683 | €231,588 | -€13,095 | -5.4% |
| Plant, machinery and equipment | 23 | €2,079 | €4,472 | +€2,392 | +115.0% |
| Financial fixed assets | 28 | - | €1,625 | +€1,625 | |
| Current assets | 29/58 | €30,930 | €26,448 | -€4,482 | -14.5% |
| Amounts receivable within one year | 40/41 | €7,428 | €9,047 | +€1,619 | +21.8% |
| Trade receivables | 40 | €7,425 | €9,047 | +€1,622 | +21.8% |
| Other amounts receivable | 41 | €3 | - | -€3 | |
| Cash at bank and in hand | 54/58 | €23,502 | €17,401 | -€6,101 | -26.0% |
| Total equity and liabilities | 10/49 | €277,692 | €264,132 | -€13,560 | -4.9% |
| Equity | 10/15 | -€52,593 | -€72,203 | -€19,610 | -37.3% |
| Profit (loss) carried forward | 14 | -€52,593 | -€72,203 | -€19,610 | -37.3% |
| Amounts payable | 17/49 | €330,284 | €336,335 | +€6,050 | +1.8% |
| Amounts payable after more than one year | 17 | €202,516 | €181,218 | -€21,297 | -10.5% |
| Financial debts | 170/4 | €202,516 | €181,218 | -€21,297 | -10.5% |
| Amounts payable within one year | 42/48 | €127,769 | €155,116 | +€27,348 | +21.4% |
| Current portion of amounts payable after more than one year | 42 | €11,161 | €10,763 | -€399 | -3.6% |
| Trade debts | 44 | €2,648 | €2,863 | +€215 | +8.1% |
| Suppliers | 440/4 | €2,648 | €2,863 | +€215 | +8.1% |
| Other amounts payable | 47/48 | €113,959 | €141,490 | +€27,532 | +24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,527 | €8,200 | -€328 | -3.8% |
| Other operating charges | 640/8 | €980 | €1,902 | +€922 | +94.0% |
| Gross operating margin | 9900 | €16,567 | €16,471 | -€95 | -0.6% |
| Operating profit (loss) | 9901 | €7,059 | €6,369 | -€689 | -9.8% |
| Financial charges | 65/66B | €5,098 | €4,633 | -€465 | -9.1% |
| Recurring financial charges | 65 | €5,098 | €4,633 | -€465 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €1,961 | €1,736 | -€225 | -11.5% |
| Profit (loss) for the period | 9904 | €1,961 | €1,736 | -€225 | -11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,961 | €1,736 | -€225 | -11.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.