P & E NET: 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 NET
Largest movements
- Financial fixed assets +€48,978
up €48,978 (+196%), from €24,955 to €73,932
- Tangible fixed assets -€15,778
down €15,778 (-53.8%), from €29,344 to €13,566
of which Furniture and vehicles: -€19,279
- Intangible fixed assets -€12,446
down €12,446 (-14.3%), from €87,122 to €74,676
- Receivables within one year -€8,154
down €8,154 (-29.6%), from €27,547 to €19,392
of which Trade receivables: -€9,504
- Reserves +€23,413
up €23,413 (+10.9%), from €214,864 to €238,278
of which Distributable reserves: +€23,413
- Debts after one year -€20,916
down €20,916 (-77.6%), from €26,957 to €6,041
of which Financial debts: -€20,916
- Trade debts +€10,569
up €10,569 (+277%), from €3,814 to €14,383
- Tax, wage and social debts -€3,751
down €3,751 (-24.3%), from €15,427 to €11,676
- Gross operating margin -€41,892
down €41,892 (-38.0%), from €110,194 to €68,303
- Taxes -€9,152
down €9,152 (-48.6%), from €18,851 to €9,698
- Staff costs -€7,848
down €7,848 (-88.8%), from €8,843 to €995
- Financial income +€3,114
up €3,114 (+4,151%), from €75 to €3,189
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 | €325,936 | €335,571 | +€9,635 | +3.0% |
| Fixed assets | 21/28 | €141,421 | €162,174 | +€20,753 | +14.7% |
| Intangible fixed assets | 21 | €87,122 | €74,676 | -€12,446 | -14.3% |
| Tangible fixed assets | 22/27 | €29,344 | €13,566 | -€15,778 | -53.8% |
| Furniture and vehicles | 24 | €23,492 | €4,214 | -€19,279 | -82.1% |
| Other tangible fixed assets | 26 | €5,852 | €9,352 | +€3,500 | +59.8% |
| Financial fixed assets | 28 | €24,955 | €73,932 | +€48,978 | +196% |
| Current assets | 29/58 | €184,515 | €173,397 | -€11,118 | -6.0% |
| Amounts receivable within one year | 40/41 | €27,547 | €19,392 | -€8,154 | -29.6% |
| Trade receivables | 40 | €27,547 | €18,043 | -€9,504 | -34.5% |
| Other amounts receivable | 41 | - | €1,349 | +€1,349 | |
| Cash at bank and in hand | 54/58 | €148,834 | €146,650 | -€2,185 | -1.5% |
| Deferred charges and accrued income | 490/1 | €8,134 | €7,355 | -€779 | -9.6% |
| Total equity and liabilities | 10/49 | €325,936 | €335,571 | +€9,635 | +3.0% |
| Equity | 10/15 | €247,202 | €268,949 | +€21,747 | +8.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €214,864 | €238,278 | +€23,413 | +10.9% |
| Non-distributable reserves | 130/1 | €1,937 | €1,937 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,937 | €1,937 | = | 0.0% |
| Distributable reserves | 133 | €212,928 | €236,341 | +€23,413 | +11.0% |
| Profit (loss) carried forward | 14 | €13,737 | €12,071 | -€1,666 | -12.1% |
| Amounts payable | 17/49 | €78,734 | €66,622 | -€12,113 | -15.4% |
| Amounts payable after more than one year | 17 | €26,957 | €6,041 | -€20,916 | -77.6% |
| Financial debts | 170/4 | €26,262 | €5,346 | -€20,916 | -79.6% |
| Other amounts payable | 178/9 | €695 | €695 | = | 0.0% |
| Amounts payable within one year | 42/48 | €50,828 | €59,631 | +€8,803 | +17.3% |
| Current portion of amounts payable after more than one year | 42 | €29,490 | €28,356 | -€1,134 | -3.8% |
| Trade debts | 44 | €3,814 | €14,383 | +€10,569 | +277% |
| Suppliers | 440/4 | €3,814 | €14,383 | +€10,569 | +277% |
| Taxes, remuneration and social security | 45 | €15,427 | €11,676 | -€3,751 | -24.3% |
| Taxes | 450/3 | €15,427 | €11,676 | -€3,751 | -24.3% |
| Other amounts payable | 47/48 | €2,096 | €5,216 | +€3,120 | +149% |
| Accrued charges and deferred income | 492/3 | €950 | €950 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €8,843 | €995 | -€7,848 | -88.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,222 | €33,204 | +€982 | +3.0% |
| Other operating charges | 640/8 | €1,499 | €1,547 | +€47 | +3.2% |
| Gross operating margin | 9900 | €110,194 | €68,303 | -€41,892 | -38.0% |
| Operating profit (loss) | 9901 | €67,630 | €32,558 | -€35,072 | -51.9% |
| Financial income | 75/76B | €75 | €3,189 | +€3,114 | +4,151% |
| Recurring financial income | 75 | €75 | €3,189 | +€3,114 | +4,151% |
| Financial charges | 65/66B | €3,696 | €2,635 | -€1,060 | -28.7% |
| Recurring financial charges | 65 | €3,696 | €2,635 | -€1,060 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €64,010 | €33,112 | -€30,898 | -48.3% |
| Income taxes | 67/77 | €18,851 | €9,698 | -€9,152 | -48.6% |
| Profit (loss) for the period | 9904 | €45,159 | €23,413 | -€21,746 | -48.2% |
| Profit (loss) for the period to be appropriated | 9905 | €45,159 | €23,413 | -€21,746 | -48.2% |
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 16 October 2026 via checked.be.