P. PETRE: 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. PETRE
Largest movements
- Receivables within one year +€29,285
up €29,285 (+120.8%), from €24,252 to €53,537
of which Trade receivables: +€29,439
- Cash -€14,302
down €14,302 (-8.6%), from €165,469 to €151,167
mainly Receivables within one year (-€29,285) and Investment in fixed assets (net) (-€14,985)
- Deferred charges and accrued income -€7,995
down €7,995 (-31.0%), from €25,774 to €17,780
- Receivables after one year +€6,729
up €6,729 (+7.6%), from €88,390 to €95,120
- Tangible fixed assets -€5,868
down €5,868 (-11.0%), from €53,191 to €47,323
of which Furniture and vehicles: -€8,418
- Trade debts +€21,866
up €21,866 (+21.7%), from €100,761 to €122,627
- Current portion of long-term debt -€4,800
no longer reported in 2025 (was €4,800)
- Staff costs +€41,001
up €41,001 (+26.6%), from €153,958 to €194,958
- Gross operating margin +€32,828
up €32,828 (+17.6%), from €186,197 to €219,026
- Depreciation -€2,610
down €2,610 (-11.1%), from €23,464 to €20,853
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 | €393,443 | €404,655 | +€11,212 | +2.8% |
| Fixed assets | 21/28 | €62,408 | €56,540 | -€5,868 | -9.4% |
| Tangible fixed assets | 22/27 | €53,191 | €47,323 | -€5,868 | -11.0% |
| Plant, machinery and equipment | 23 | €8,229 | €10,811 | +€2,581 | +31.4% |
| Furniture and vehicles | 24 | €12,776 | €4,358 | -€8,418 | -65.9% |
| Other tangible fixed assets | 26 | €32,186 | €32,155 | -€31 | -0.1% |
| Financial fixed assets | 28 | €9,217 | €9,217 | = | 0.0% |
| Current assets | 29/58 | €331,036 | €348,115 | +€17,080 | +5.2% |
| Amounts receivable after more than one year | 29 | €88,390 | €95,120 | +€6,729 | +7.6% |
| Other amounts receivable | 291 | €88,390 | €95,120 | +€6,729 | +7.6% |
| Stocks and contracts in progress | 3 | €27,148 | €30,510 | +€3,362 | +12.4% |
| Stocks | 30/36 | €27,148 | €30,510 | +€3,362 | +12.4% |
| Amounts receivable within one year | 40/41 | €24,252 | €53,537 | +€29,285 | +120.8% |
| Trade receivables | 40 | €13,308 | €42,747 | +€29,439 | +221.2% |
| Other amounts receivable | 41 | €10,944 | €10,789 | -€155 | -1.4% |
| Current investments | 50/53 | €2 | €2 | +€0 | +0.6% |
| Cash at bank and in hand | 54/58 | €165,469 | €151,167 | -€14,302 | -8.6% |
| Deferred charges and accrued income | 490/1 | €25,774 | €17,780 | -€7,995 | -31.0% |
| Total equity and liabilities | 10/49 | €393,443 | €404,655 | +€11,212 | +2.8% |
| Equity | 10/15 | €234,216 | €231,510 | -€2,706 | -1.2% |
| Contributions | 10/11 | €35,449 | €35,449 | = | 0.0% |
| Reserves | 13 | €140,345 | €140,345 | = | 0.0% |
| Distributable reserves | 133 | €140,345 | €140,345 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,422 | €55,716 | -€2,706 | -4.6% |
| Amounts payable | 17/49 | €159,227 | €173,146 | +€13,918 | +8.7% |
| Amounts payable within one year | 42/48 | €156,734 | €173,074 | +€16,340 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €4,800 | - | -€4,800 | |
| Financial debts | 43 | €6 | - | -€6 | |
| Credit institutions | 430/8 | €6 | - | -€6 | |
| Trade debts | 44 | €100,761 | €122,627 | +€21,866 | +21.7% |
| Suppliers | 440/4 | €100,761 | €122,627 | +€21,866 | +21.7% |
| Taxes, remuneration and social security | 45 | €35,997 | €38,200 | +€2,203 | +6.1% |
| Taxes | 450/3 | €6,373 | €8,430 | +€2,057 | +32.3% |
| Remuneration and social security | 454/9 | €29,624 | €29,770 | +€146 | +0.5% |
| Other amounts payable | 47/48 | €15,171 | €12,248 | -€2,924 | -19.3% |
| Accrued charges and deferred income | 492/3 | €2,493 | €71 | -€2,422 | -97.1% |
| Remuneration, social security and pensions | 62 | €153,958 | €194,958 | +€41,001 | +26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,464 | €20,853 | -€2,610 | -11.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €240 | +€240 | |
| Other operating charges | 640/8 | €387 | €717 | +€329 | +85.1% |
| Gross operating margin | 9900 | €186,197 | €219,026 | +€32,828 | +17.6% |
| Operating profit (loss) | 9901 | €8,389 | €2,257 | -€6,131 | -73.1% |
| Financial income | 75/76B | €2,671 | €2,669 | -€2 | -0.1% |
| Recurring financial income | 75 | €2,671 | €2,669 | -€2 | -0.1% |
| Financial charges | 65/66B | €9,249 | €7,483 | -€1,766 | -19.1% |
| Recurring financial charges | 65 | €9,249 | €7,483 | -€1,766 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €1,811 | -€2,556 | -€4,367 | |
| Income taxes | 67/77 | €131 | €150 | +€18 | +14.0% |
| Profit (loss) for the period | 9904 | €1,679 | -€2,706 | -€4,386 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,679 | -€2,706 | -€4,386 |
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 11 October 2026 via checked.be.