PASCAL VANDEPUT: 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 VANDEPUT
Largest movements
- Tangible fixed assets -€21,912
down €21,912 (-9.2%), from €238,001 to €216,090
- Cash -€7,821
down €7,821 (-18.6%), from €41,939 to €34,119
mainly Tax, wage and social debts (-€26,500) and Debts after one year (-€12,153)
- Tax, wage and social debts -€26,500
down €26,500 (-95.8%), from €27,669 to €1,169
of which Remuneration and social security: -€26,500
- Reserves +€15,125
up €15,125 (+39.8%), from €38,013 to €53,138
- Debts after one year -€12,153
down €12,153 (-7.3%), from €165,608 to €153,455
- Current portion of long-term debt -€5,617
down €5,617 (-31.6%), from €17,770 to €12,153
- Gross operating margin +€23,421
up €23,421 (+77.1%), from €30,373 to €53,794
- Provisions +€20,000
no longer reported in 2025 (was -€20,000)
- Depreciation +€2,838
up €2,838 (+13.1%), from €21,624 to €24,462
- Taxes +€2,027
up €2,027 (+38.3%), from €5,300 to €7,327
- Financial charges -€1,286
down €1,286 (-36.0%), from €3,569 to €2,283
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 | €301,438 | €269,449 | -€31,989 | -10.6% |
| Fixed assets | 21/28 | €238,001 | €216,090 | -€21,912 | -9.2% |
| Tangible fixed assets | 22/27 | €238,001 | €216,090 | -€21,912 | -9.2% |
| Land and buildings | 22 | €193,091 | €185,043 | -€8,048 | -4.2% |
| Plant, machinery and equipment | 23 | €15,649 | €8,564 | -€7,085 | -45.3% |
| Furniture and vehicles | 24 | €29,262 | €22,483 | -€6,779 | -23.2% |
| Current assets | 29/58 | €63,437 | €53,359 | -€10,077 | -15.9% |
| Amounts receivable within one year | 40/41 | €16,882 | €14,625 | -€2,257 | -13.4% |
| Trade receivables | 40 | €342 | €3,945 | +€3,604 | +1,055% |
| Other amounts receivable | 41 | €16,540 | €10,680 | -€5,861 | -35.4% |
| Current investments | 50/53 | €1,046 | €1,046 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €41,939 | €34,119 | -€7,821 | -18.6% |
| Deferred charges and accrued income | 490/1 | €3,569 | €3,569 | = | 0.0% |
| Total equity and liabilities | 10/49 | €301,438 | €269,449 | -€31,989 | -10.6% |
| Equity | 10/15 | €56,605 | €71,730 | +€15,125 | +26.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €38,013 | €53,138 | +€15,125 | +39.8% |
| Distributable reserves | 133 | €38,013 | €53,138 | +€15,125 | +39.8% |
| Amounts payable | 17/49 | €244,833 | €197,719 | -€47,114 | -19.2% |
| Amounts payable after more than one year | 17 | €165,608 | €153,455 | -€12,153 | -7.3% |
| Financial debts | 170/4 | €165,608 | €153,455 | -€12,153 | -7.3% |
| Amounts payable within one year | 42/48 | €79,225 | €44,264 | -€34,961 | -44.1% |
| Current portion of amounts payable after more than one year | 42 | €17,770 | €12,153 | -€5,617 | -31.6% |
| Trade debts | 44 | €7,540 | €5,693 | -€1,847 | -24.5% |
| Suppliers | 440/4 | €7,540 | €5,693 | -€1,847 | -24.5% |
| Taxes, remuneration and social security | 45 | €27,669 | €1,169 | -€26,500 | -95.8% |
| Taxes | 450/3 | €1,169 | €1,169 | = | 0.0% |
| Remuneration and social security | 454/9 | €26,500 | - | -€26,500 | |
| Other amounts payable | 47/48 | €26,246 | €25,249 | -€997 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,624 | €24,462 | +€2,838 | +13.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€20,000 | - | +€20,000 | |
| Other operating charges | 640/8 | €4,706 | €4,602 | -€103 | -2.2% |
| Gross operating margin | 9900 | €30,373 | €53,794 | +€23,421 | +77.1% |
| Operating profit (loss) | 9901 | €24,043 | €24,729 | +€687 | +2.9% |
| Financial income | 75/76B | €125 | €6 | -€119 | -95.4% |
| Recurring financial income | 75 | €125 | €6 | -€119 | -95.4% |
| Financial charges | 65/66B | €3,569 | €2,283 | -€1,286 | -36.0% |
| Recurring financial charges | 65 | €3,569 | €2,283 | -€1,286 | -36.0% |
| Profit (loss) for the period before taxes | 9903 | €20,598 | €22,452 | +€1,854 | +9.0% |
| Income taxes | 67/77 | €5,300 | €7,327 | +€2,027 | +38.3% |
| Profit (loss) for the period | 9904 | €15,299 | €15,125 | -€174 | -1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,299 | €15,125 | -€174 | -1.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.