PASCAL DE STERCK: 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.
PASCAL DE STERCK
Largest movements
- Stocks and contracts -€321,765
down €321,765 (-47.9%), from €671,043 to €349,278
- Cash +€299,558
up €299,558 (+206%), from €145,573 to €445,130
mainly Stocks and contracts (+€321,765) and Other debts (+€68,547)
- Receivables within one year -€25,556
down €25,556 (-11.6%), from €220,031 to €194,475
- Tangible fixed assets -€16,832
down €16,832 (-54.8%), from €30,701 to €13,869
of which Furniture and vehicles: -€16,102
- Other debts +€68,547
up €68,547 (+89,744%), from €76 to €68,623
- Reserves -€65,029
down €65,029 (-17.1%), from €380,030 to €315,001
of which Distributable reserves: -€65,029
- Trade debts -€48,015
down €48,015 (-73.4%), from €65,411 to €17,396
- Debts after one year -€41,932
down €41,932 (-56.3%), from €74,543 to €32,611
- Profit (loss) carried forward +€16,718
up €16,718 (+4.1%), from €409,314 to €426,032
- Gross operating margin -€83,537
down €83,537 (-41.7%), from €200,417 to €116,880
- Taxes -€30,258
down €30,258 (-85.1%), from €35,537 to €5,279
- Depreciation -€8,471
down €8,471 (-25.4%), from €33,346 to €24,875
- Other operating charges +€5,180
up €5,180 (+147%), from €3,520 to €8,700
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 | €1,073,029 | €1,006,798 | -€66,230 | -6.2% |
| Fixed assets | 21/28 | €30,701 | €13,869 | -€16,832 | -54.8% |
| Tangible fixed assets | 22/27 | €30,701 | €13,869 | -€16,832 | -54.8% |
| Plant, machinery and equipment | 23 | €3,010 | €2,280 | -€730 | -24.2% |
| Furniture and vehicles | 24 | €27,691 | €11,589 | -€16,102 | -58.1% |
| Current assets | 29/58 | €1,042,328 | €992,929 | -€49,398 | -4.7% |
| Stocks and contracts in progress | 3 | €671,043 | €349,278 | -€321,765 | -47.9% |
| Stocks | 30/36 | €671,043 | €349,278 | -€321,765 | -47.9% |
| Amounts receivable within one year | 40/41 | €220,031 | €194,475 | -€25,556 | -11.6% |
| Trade receivables | 40 | €220,031 | €194,475 | -€25,556 | -11.6% |
| Cash at bank and in hand | 54/58 | €145,573 | €445,130 | +€299,558 | +206% |
| Deferred charges and accrued income | 490/1 | €5,681 | €4,045 | -€1,635 | -28.8% |
| Total equity and liabilities | 10/49 | €1,073,029 | €1,006,798 | -€66,230 | -6.2% |
| Equity | 10/15 | €807,944 | €759,633 | -€48,311 | -6.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €380,030 | €315,001 | -€65,029 | -17.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €378,170 | €313,141 | -€65,029 | -17.2% |
| Profit (loss) carried forward | 14 | €409,314 | €426,032 | +€16,718 | +4.1% |
| Amounts payable | 17/49 | €265,085 | €247,165 | -€17,919 | -6.8% |
| Amounts payable after more than one year | 17 | €74,543 | €32,611 | -€41,932 | -56.3% |
| Financial debts | 170/4 | €74,543 | €32,611 | -€41,932 | -56.3% |
| Amounts payable within one year | 42/48 | €155,893 | €166,554 | +€10,661 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €47,113 | €41,147 | -€5,965 | -12.7% |
| Trade debts | 44 | €65,411 | €17,396 | -€48,015 | -73.4% |
| Suppliers | 440/4 | €65,411 | €17,396 | -€48,015 | -73.4% |
| Taxes, remuneration and social security | 45 | €43,293 | €39,388 | -€3,905 | -9.0% |
| Taxes | 450/3 | €37,318 | €23,710 | -€13,608 | -36.5% |
| Remuneration and social security | 454/9 | €5,975 | €15,678 | +€9,702 | +162% |
| Other amounts payable | 47/48 | €76 | €68,623 | +€68,547 | +89,744% |
| Accrued charges and deferred income | 492/3 | €34,649 | €48,000 | +€13,351 | +38.5% |
| Non-recurring operating income | 76A | €6,501 | €0 | -€6,501 | -100% |
| Remuneration, social security and pensions | 62 | €58,655 | €59,827 | +€1,172 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,346 | €24,875 | -€8,471 | -25.4% |
| Other operating charges | 640/8 | €3,520 | €8,700 | +€5,180 | +147% |
| Gross operating margin | 9900 | €200,417 | €116,880 | -€83,537 | -41.7% |
| Operating profit (loss) | 9901 | €104,896 | €23,477 | -€81,419 | -77.6% |
| Financial income | 75/76B | €1,806 | €5 | -€1,801 | -99.7% |
| Recurring financial income | 75 | €1,806 | €5 | -€1,801 | -99.7% |
| Financial charges | 65/66B | €2,495 | €1,485 | -€1,010 | -40.5% |
| Recurring financial charges | 65 | €2,495 | €1,485 | -€1,010 | -40.5% |
| Profit (loss) for the period before taxes | 9903 | €104,207 | €21,997 | -€82,210 | -78.9% |
| Income taxes | 67/77 | €35,537 | €5,279 | -€30,258 | -85.1% |
| Profit (loss) for the period | 9904 | €68,670 | €16,718 | -€51,952 | -75.7% |
| Profit (loss) for the period to be appropriated | 9905 | €68,670 | €16,718 | -€51,952 | -75.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.