P&E TRADING: 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&E TRADING
Largest movements
- Receivables within one year -€46,747
down €46,747 (-74.3%), from €62,958 to €16,211
of which Trade receivables: -€51,543
- Tangible fixed assets -€21,523
down €21,523 (-72.1%), from €29,834 to €8,311
- Cash +€20,408
up €20,408 (+1011.1%), from €2,018 to €22,426
mainly Receivables within one year (+€46,747) and Investment in fixed assets (net) (+€17,058)
- Profit (loss) carried forward -€36,667
down €36,667 (-320.1%), from -€11,454 to -€48,120
- Trade debts -€15,067
down €15,067 (-79.2%), from €19,020 to €3,953
- Accrued charges and deferred income +€3,053
new in 2025: €3,053
- Other debts +€2,126
up €2,126 (+9.5%), from €22,301 to €24,427
- Tax, wage and social debts -€1,805
no longer reported in 2025 (was €1,805)
- Other operating charges +€20,729
up €20,729 (+5351.6%), from €387 to €21,116
- Gross operating margin -€15,005
down €15,005, from €4,185 to -€10,820
- Depreciation -€5,731
down €5,731 (-56.2%), from €10,196 to €4,465
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 | €95,395 | €47,036 | -€48,360 | -50.7% |
| Fixed assets | 21/28 | €29,834 | €8,311 | -€21,523 | -72.1% |
| Tangible fixed assets | 22/27 | €29,834 | €8,311 | -€21,523 | -72.1% |
| Plant, machinery and equipment | 23 | €9,287 | €4,169 | -€5,118 | -55.1% |
| Furniture and vehicles | 24 | €12,457 | €3,189 | -€9,268 | -74.4% |
| Other tangible fixed assets | 26 | €8,091 | €953 | -€7,137 | -88.2% |
| Current assets | 29/58 | €65,561 | €38,724 | -€26,837 | -40.9% |
| Amounts receivable within one year | 40/41 | €62,958 | €16,211 | -€46,747 | -74.3% |
| Trade receivables | 40 | €59,956 | €8,413 | -€51,543 | -86.0% |
| Other amounts receivable | 41 | €3,002 | €7,799 | +€4,797 | +159.8% |
| Cash at bank and in hand | 54/58 | €2,018 | €22,426 | +€20,408 | +1011.1% |
| Deferred charges and accrued income | 490/1 | €585 | €86 | -€498 | -85.2% |
| Total equity and liabilities | 10/49 | €95,395 | €47,036 | -€48,360 | -50.7% |
| Equity | 10/15 | €52,270 | €15,603 | -€36,667 | -70.1% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €723 | €723 | = | 0.0% |
| Non-distributable reserves | 130/1 | €723 | €723 | = | 0.0% |
| Legal reserve | 130 | €723 | €723 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,454 | -€48,120 | -€36,667 | -320.1% |
| Amounts payable | 17/49 | €43,125 | €31,432 | -€11,693 | -27.1% |
| Amounts payable within one year | 42/48 | €43,125 | €28,380 | -€14,745 | -34.2% |
| Trade debts | 44 | €19,020 | €3,953 | -€15,067 | -79.2% |
| Suppliers | 440/4 | €19,020 | €3,953 | -€15,067 | -79.2% |
| Taxes, remuneration and social security | 45 | €1,805 | - | -€1,805 | |
| Taxes | 450/3 | €1,805 | - | -€1,805 | |
| Other amounts payable | 47/48 | €22,301 | €24,427 | +€2,126 | +9.5% |
| Accrued charges and deferred income | 492/3 | - | €3,053 | +€3,053 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,196 | €4,465 | -€5,731 | -56.2% |
| Other operating charges | 640/8 | €387 | €21,116 | +€20,729 | +5351.6% |
| Gross operating margin | 9900 | €4,185 | -€10,820 | -€15,005 | |
| Operating profit (loss) | 9901 | -€6,398 | -€36,401 | -€30,003 | -468.9% |
| Financial income | 75/76B | €6 | €3 | -€3 | -49.6% |
| Recurring financial income | 75 | €6 | €3 | -€3 | -49.6% |
| Financial charges | 65/66B | €335 | €269 | -€67 | -19.9% |
| Recurring financial charges | 65 | €335 | €269 | -€67 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | -€6,728 | -€36,667 | -€29,939 | -445.0% |
| Profit (loss) for the period | 9904 | -€6,728 | -€36,667 | -€29,939 | -445.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,728 | -€36,667 | -€29,939 | -445.0% |
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 1 October 2026 via checked.be.