PATRICK THOMAS: 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.
PATRICK THOMAS
Largest movements
- Receivables within one year -€51,352
down €51,352 (-15.2%), from €337,030 to €285,678
of which Other amounts receivable: -€59,653
- Cash -€34,310
down €34,310 (-35.0%), from €97,956 to €63,646
mainly Other debts (-€97,207) and Tax, wage and social debts (-€32,373)
- Tangible fixed assets -€15,753
down €15,753 (-53.9%), from €29,203 to €13,450
of which Furniture and vehicles: -€14,630
- Deferred charges and accrued income +€9,165
up €9,165 (+163.8%), from €5,597 to €14,762
- Other debts -€97,207
down €97,207 (-70.3%), from €138,329 to €41,122
- Reserves +€47,250
up €47,250 (+26.6%), from €177,798 to €225,048
of which Distributable reserves: +€47,250
- Tax, wage and social debts -€32,373
down €32,373 (-86.7%), from €37,356 to €4,983
of which Taxes: -€36,188
- Debts after one year -€7,761
down €7,761 (-100.0%), from €7,761 to €0
- Staff costs -€18,598
down €18,598 (-98.6%), from €18,865 to €267
- Depreciation -€5,605
down €5,605 (-25.5%), from €21,958 to €16,353
- Taxes +€3,855
up €3,855 (+24.6%), from €15,670 to €19,525
- Gross operating margin +€3,055
up €3,055 (+4.2%), from €72,251 to €75,305
- Financial income -€1,046
down €1,046 (-7.7%), from €13,588 to €12,542
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €470,034 | €377,659 | -€92,375 | -19.7% |
| Fixed assets | 21/28 | €29,452 | €13,574 | -€15,878 | -53.9% |
| Intangible fixed assets | 21 | €125 | €0 | -€125 | -100.0% |
| Tangible fixed assets | 22/27 | €29,203 | €13,450 | -€15,753 | -53.9% |
| Plant, machinery and equipment | 23 | €1,048 | €489 | -€559 | -53.3% |
| Furniture and vehicles | 24 | €26,313 | €11,683 | -€14,630 | -55.6% |
| Other tangible fixed assets | 26 | €1,842 | €1,278 | -€564 | -30.6% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €440,582 | €364,085 | -€76,498 | -17.4% |
| Amounts receivable within one year | 40/41 | €337,030 | €285,678 | -€51,352 | -15.2% |
| Trade receivables | 40 | €91,624 | €99,924 | +€8,301 | +9.1% |
| Other amounts receivable | 41 | €245,406 | €185,753 | -€59,653 | -24.3% |
| Cash at bank and in hand | 54/58 | €97,956 | €63,646 | -€34,310 | -35.0% |
| Deferred charges and accrued income | 490/1 | €5,597 | €14,762 | +€9,165 | +163.8% |
| Total equity and liabilities | 10/49 | €470,034 | €377,659 | -€92,375 | -19.7% |
| Equity | 10/15 | €240,968 | €288,238 | +€47,269 | +19.6% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €177,798 | €225,048 | +€47,250 | +26.6% |
| Non-distributable reserves | 130/1 | €35,997 | €35,997 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,250 | €6,250 | = | 0.0% |
| Other | 1319 | €29,747 | €29,747 | = | 0.0% |
| Distributable reserves | 133 | €141,801 | €189,051 | +€47,250 | +33.3% |
| Profit (loss) carried forward | 14 | €670 | €690 | +€19 | +2.9% |
| Amounts payable | 17/49 | €229,066 | €89,421 | -€139,645 | -61.0% |
| Amounts payable after more than one year | 17 | €7,761 | €0 | -€7,761 | -100.0% |
| Financial debts | 170/4 | €7,761 | €0 | -€7,761 | -100.0% |
| Amounts payable within one year | 42/48 | €197,304 | €65,421 | -€131,883 | -66.8% |
| Current portion of amounts payable after more than one year | 42 | €17,189 | €14,850 | -€2,339 | -13.6% |
| Trade debts | 44 | €4,431 | €4,467 | +€36 | +0.8% |
| Suppliers | 440/4 | €4,431 | €4,467 | +€36 | +0.8% |
| Taxes, remuneration and social security | 45 | €37,356 | €4,983 | -€32,373 | -86.7% |
| Taxes | 450/3 | €37,356 | €1,168 | -€36,188 | -96.9% |
| Remuneration and social security | 454/9 | €0 | €3,815 | +€3,815 | |
| Other amounts payable | 47/48 | €138,329 | €41,122 | -€97,207 | -70.3% |
| Accrued charges and deferred income | 492/3 | €24,000 | €24,000 | -€0 | 0.0% |
| Turnover | 70 | - | €0 | = | |
| Non-recurring operating income | 76A | €654 | - | -€654 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €18,865 | €267 | -€18,598 | -98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,958 | €16,353 | -€5,605 | -25.5% |
| Other operating charges | 640/8 | €2,004 | €2,283 | +€279 | +13.9% |
| Non-recurring operating charges | 66A | €25 | - | -€25 | |
| Gross operating margin | 9900 | €72,251 | €75,305 | +€3,055 | +4.2% |
| Operating profit (loss) | 9901 | €29,398 | €56,402 | +€27,004 | +91.9% |
| Financial income | 75/76B | €13,588 | €12,542 | -€1,046 | -7.7% |
| Recurring financial income | 75 | €13,588 | €12,542 | -€1,046 | -7.7% |
| Financial charges | 65/66B | €1,625 | €2,150 | +€524 | +32.3% |
| Recurring financial charges | 65 | €1,625 | €2,150 | +€524 | +32.3% |
| Profit (loss) for the period before taxes | 9903 | €41,361 | €66,794 | +€25,434 | +61.5% |
| Income taxes | 67/77 | €15,670 | €19,525 | +€3,855 | +24.6% |
| Profit (loss) for the period | 9904 | €25,691 | €47,269 | +€21,579 | +84.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,691 | €47,269 | +€21,579 | +84.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.