PASCAL DEWAELE: 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 DEWAELE
Largest movements
- Stocks and contracts +€19,610
up €19,610 (+286%), from €6,846 to €26,456
of which Contracts in progress: +€13,000
- Tangible fixed assets -€4,565
down €4,565 (-32.9%), from €13,876 to €9,311
of which Furniture and vehicles: -€4,200
- Cash +€2,553
up €2,553 (+19.4%), from €13,136 to €15,689
mainly Net result for the year (+€12,017) and Current portion of long-term debt (+€6,019)
- Reserves +€12,017
up €12,017 (+19.7%), from €61,063 to €73,080
- Current portion of long-term debt +€6,019
up €6,019 (+64.4%), from €9,345 to €15,364
- Debts after one year -€5,363
down €5,363 (-47.1%), from €11,392 to €6,029
- Tax, wage and social debts +€3,089
up €3,089 (+542%), from €570 to €3,659
- Trade debts +€1,595
up €1,595 (+1,063%), from €150 to €1,745
- Gross operating margin -€4,325
down €4,325 (-15.7%), from €27,630 to €23,305
- Taxes -€784
down €784 (-16.1%), from €4,877 to €4,093
- Other operating charges -€642
down €642 (-30.3%), from €2,122 to €1,480
- Depreciation -€482
down €482 (-8.9%), from €5,407 to €4,925
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 | €83,520 | €100,877 | +€17,357 | +20.8% |
| Fixed assets | 21/28 | €13,876 | €9,311 | -€4,565 | -32.9% |
| Tangible fixed assets | 22/27 | €13,876 | €9,311 | -€4,565 | -32.9% |
| Plant, machinery and equipment | 23 | €1,276 | €911 | -€365 | -28.6% |
| Furniture and vehicles | 24 | €12,600 | €8,400 | -€4,200 | -33.3% |
| Current assets | 29/58 | €69,644 | €91,566 | +€21,922 | +31.5% |
| Stocks and contracts in progress | 3 | €6,846 | €26,456 | +€19,610 | +286% |
| Stocks | 30/36 | €1,846 | €8,456 | +€6,610 | +358% |
| Contracts in progress | 37 | €5,000 | €18,000 | +€13,000 | +260% |
| Amounts receivable within one year | 40/41 | €49,287 | €49,046 | -€241 | -0.5% |
| Trade receivables | 40 | €26,113 | €1,687 | -€24,426 | -93.5% |
| Other amounts receivable | 41 | €23,174 | €47,359 | +€24,185 | +104% |
| Cash at bank and in hand | 54/58 | €13,136 | €15,689 | +€2,553 | +19.4% |
| Deferred charges and accrued income | 490/1 | €375 | €375 | = | 0.0% |
| Total equity and liabilities | 10/49 | €83,520 | €100,877 | +€17,357 | +20.8% |
| Equity | 10/15 | €62,063 | €74,080 | +€12,017 | +19.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €61,063 | €73,080 | +€12,017 | +19.7% |
| Distributable reserves | 133 | €61,063 | €73,080 | +€12,017 | +19.7% |
| Amounts payable | 17/49 | €21,457 | €26,797 | +€5,340 | +24.9% |
| Amounts payable after more than one year | 17 | €11,392 | €6,029 | -€5,363 | -47.1% |
| Financial debts | 170/4 | €11,392 | €6,029 | -€5,363 | -47.1% |
| Amounts payable within one year | 42/48 | €10,065 | €20,768 | +€10,703 | +106% |
| Current portion of amounts payable after more than one year | 42 | €9,345 | €15,364 | +€6,019 | +64.4% |
| Trade debts | 44 | €150 | €1,745 | +€1,595 | +1,063% |
| Suppliers | 440/4 | €150 | €1,745 | +€1,595 | +1,063% |
| Taxes, remuneration and social security | 45 | €570 | €3,659 | +€3,089 | +542% |
| Taxes | 450/3 | €570 | €3,659 | +€3,089 | +542% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,407 | €4,925 | -€482 | -8.9% |
| Other operating charges | 640/8 | €2,122 | €1,480 | -€642 | -30.3% |
| Non-recurring operating charges | 66A | €964 | - | -€964 | |
| Gross operating margin | 9900 | €27,630 | €23,305 | -€4,325 | -15.7% |
| Operating profit (loss) | 9901 | €19,137 | €16,900 | -€2,237 | -11.7% |
| Financial income | 75/76B | €41 | €32 | -€9 | -22.0% |
| Recurring financial income | 75 | €41 | €32 | -€9 | -22.0% |
| Financial charges | 65/66B | €1,041 | €822 | -€219 | -21.0% |
| Recurring financial charges | 65 | €1,041 | €822 | -€219 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €18,137 | €16,110 | -€2,027 | -11.2% |
| Income taxes | 67/77 | €4,877 | €4,093 | -€784 | -16.1% |
| Profit (loss) for the period | 9904 | €13,260 | €12,017 | -€1,243 | -9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,260 | €12,017 | -€1,243 | -9.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.