Parelhuis: 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.
Parelhuis
Largest movements
- Tangible fixed assets +€299,733
up €299,733 (+25.0%), from €1.2m to €1.5m
of which Assets under construction and advance payments: +€330,982
- Receivables within one year -€148,568
down €148,568 (-97.8%), from €151,873 to €3,304
- Cash +€28,861
up €28,861 (+99.8%), from €28,925 to €57,786
mainly Contributions, distributions and other (+€452,806) and Receivables within one year (+€148,568)
- Investment grants +€452,806
up €452,806 (+144%), from €313,524 to €766,331
- Trade debts -€198,992
down €198,992 (-97.3%), from €204,481 to €5,488
- Other debts -€190,360
down €190,360 (-98.6%), from €193,115 to €2,755
- Debts after one year +€108,040
up €108,040 (+16.5%), from €653,784 to €761,824
- Gross operating margin +€52,199
up €52,199 (+320%), from €16,330 to €68,529
- Depreciation +€21,851
up €21,851 (+185%), from €11,842 to €33,694
- Financial charges +€18,779
up €18,779 (+138%), from €13,629 to €32,408
of which Financial charges: +€20,532
- Other operating charges +€4,109
up €4,109 (+188%), from €2,184 to €6,293
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 | €1,392,092 | €1,571,464 | +€179,372 | +12.9% |
| Fixed assets | 21/28 | €1,211,294 | €1,508,583 | +€297,288 | +24.5% |
| Intangible fixed assets | 21 | €10,797 | €8,352 | -€2,445 | -22.6% |
| Tangible fixed assets | 22/27 | €1,200,497 | €1,500,230 | +€299,733 | +25.0% |
| Land and buildings | 22 | €833,307 | €802,058 | -€31,249 | -3.8% |
| Assets under construction and advance payments | 27 | €367,190 | €698,172 | +€330,982 | +90.1% |
| Current assets | 29/58 | €180,797 | €62,881 | -€117,916 | -65.2% |
| Amounts receivable within one year | 40/41 | €151,873 | €3,304 | -€148,568 | -97.8% |
| Other amounts receivable | 41 | €151,873 | €3,304 | -€148,568 | -97.8% |
| Cash at bank and in hand | 54/58 | €28,925 | €57,786 | +€28,861 | +99.8% |
| Deferred charges and accrued income | 490/1 | - | €1,791 | +€1,791 | |
| Total equity and liabilities | 10/49 | €1,392,092 | €1,571,464 | +€179,372 | +12.9% |
| Equity | 10/15 | €322,199 | €771,139 | +€448,941 | +139% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,326 | -€15,191 | -€3,865 | -34.1% |
| Investment grants | 15 | €313,524 | €766,331 | +€452,806 | +144% |
| Amounts payable | 17/49 | €1,069,893 | €800,324 | -€269,569 | -25.2% |
| Amounts payable after more than one year | 17 | €653,784 | €761,824 | +€108,040 | +16.5% |
| Financial debts | 170/4 | €653,784 | €761,824 | +€108,040 | +16.5% |
| Amounts payable within one year | 42/48 | €412,812 | €35,203 | -€377,609 | -91.5% |
| Current portion of amounts payable after more than one year | 42 | €15,216 | €26,960 | +€11,743 | +77.2% |
| Trade debts | 44 | €204,481 | €5,488 | -€198,992 | -97.3% |
| Suppliers | 440/4 | €204,481 | €5,488 | -€198,992 | -97.3% |
| Other amounts payable | 47/48 | €193,115 | €2,755 | -€190,360 | -98.6% |
| Accrued charges and deferred income | 492/3 | €3,298 | €3,298 | -€0 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,842 | €33,694 | +€21,851 | +185% |
| Other operating charges | 640/8 | €2,184 | €6,293 | +€4,109 | +188% |
| Gross operating margin | 9900 | €16,330 | €68,529 | +€52,199 | +320% |
| Operating profit (loss) | 9901 | €2,303 | €28,543 | +€26,239 | +1,139% |
| Financial charges | 65/66B | €13,629 | €32,408 | +€18,779 | +138% |
| Recurring financial charges | 65 | €11,876 | €32,408 | +€20,532 | +173% |
| Non-recurring financial charges | 66B | €1,753 | - | -€1,753 | |
| Profit (loss) for the period before taxes | 9903 | -€11,326 | -€3,865 | +€7,460 | +65.9% |
| Profit (loss) for the period | 9904 | -€11,326 | -€3,865 | +€7,460 | +65.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,326 | -€3,865 | +€7,460 | +65.9% |
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 30 October 2026 via checked.be.