P2ER: 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.
P2ER
Largest movements
- Cash -€47,173
down €47,173 (-53.8%), from €87,620 to €40,447
mainly Other debts (-€46,440) and Investment in fixed assets (net) (-€15,038)
- Financial fixed assets +€9,000
new in 2025: €9,000
- Tangible fixed assets +€4,989
up €4,989 (+440.0%), from €1,134 to €6,122
of which Furniture and vehicles: +€4,989
- Receivables within one year +€2,204
up €2,204 (+24.5%), from €9,005 to €11,208
of which Trade receivables: +€1,975
- Other debts -€46,440
down €46,440 (-50.4%), from €92,137 to €45,698
- Reserves +€15,550
up €15,550, from €0 to €15,550
- Short-term financial debts -€1,655
down €1,655 (-83.5%), from €1,983 to €328
- Gross operating margin -€1,666
down €1,666 (-5.0%), from €33,081 to €31,414
- Depreciation +€994
up €994 (+1773.3%), from €56 to €1,050
- Taxes -€528
down €528 (-7.5%), from €7,071 to €6,542
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 | €101,074 | €69,286 | -€31,788 | -31.4% |
| Fixed assets | 21/28 | €1,134 | €15,122 | +€13,989 | +1233.9% |
| Tangible fixed assets | 22/27 | €1,134 | €6,122 | +€4,989 | +440.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,134 | €6,122 | +€4,989 | +440.0% |
| Financial fixed assets | 28 | - | €9,000 | +€9,000 | |
| Current assets | 29/58 | €99,940 | €54,164 | -€45,776 | -45.8% |
| Amounts receivable within one year | 40/41 | €9,005 | €11,208 | +€2,204 | +24.5% |
| Trade receivables | 40 | €8,910 | €10,884 | +€1,975 | +22.2% |
| Other amounts receivable | 41 | €95 | €324 | +€229 | +241.2% |
| Cash at bank and in hand | 54/58 | €87,620 | €40,447 | -€47,173 | -53.8% |
| Deferred charges and accrued income | 490/1 | €3,316 | €2,509 | -€807 | -24.3% |
| Total equity and liabilities | 10/49 | €101,074 | €69,286 | -€31,788 | -31.4% |
| Equity | 10/15 | €2,500 | €18,050 | +€15,550 | +622.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €0 | €15,550 | +€15,550 | |
| Distributable reserves | 133 | €0 | €15,550 | +€15,550 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €98,574 | €51,236 | -€47,338 | -48.0% |
| Amounts payable within one year | 42/48 | €98,405 | €51,166 | -€47,239 | -48.0% |
| Financial debts | 43 | €1,983 | €328 | -€1,655 | -83.5% |
| Credit institutions | 430/8 | €1,983 | €328 | -€1,655 | -83.5% |
| Trade debts | 44 | €349 | €342 | -€7 | -2.1% |
| Suppliers | 440/4 | €349 | €342 | -€7 | -2.1% |
| Taxes, remuneration and social security | 45 | €3,935 | €4,799 | +€863 | +21.9% |
| Taxes | 450/3 | €3,935 | €4,799 | +€863 | +21.9% |
| Other amounts payable | 47/48 | €92,137 | €45,698 | -€46,440 | -50.4% |
| Accrued charges and deferred income | 492/3 | €169 | €70 | -€99 | -58.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56 | €1,050 | +€994 | +1773.3% |
| Other operating charges | 640/8 | €770 | €649 | -€121 | -15.7% |
| Gross operating margin | 9900 | €33,081 | €31,414 | -€1,666 | -5.0% |
| Operating profit (loss) | 9901 | €32,255 | €29,715 | -€2,540 | -7.9% |
| Financial income | 75/76B | €552 | €277 | -€275 | -49.8% |
| Recurring financial income | 75 | €552 | €277 | -€275 | -49.8% |
| Financial charges | 65/66B | €45 | €45 | +€0 | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | +€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €32,762 | €29,948 | -€2,814 | -8.6% |
| Income taxes | 67/77 | €7,071 | €6,542 | -€528 | -7.5% |
| Profit (loss) for the period | 9904 | €25,691 | €23,405 | -€2,286 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,691 | €23,405 | -€2,286 | -8.9% |
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 4 October 2026 via checked.be.