PAUL BEYENS: 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.
PAUL BEYENS
Largest movements
- Cash +€121,716
up €121,716 (+61.1%), from €199,174 to €320,891
mainly Receivables within one year (+€62,404) and Net result for the year (+€31,183)
- Receivables within one year -€62,404
down €62,404 (-97.3%), from €64,130 to €1,726
- Tangible fixed assets -€8,564
down €8,564 (-22.9%), from €37,388 to €28,824
of which Furniture and vehicles: -€7,496
- Deferred charges and accrued income -€4,578
down €4,578 (-94.5%), from €4,846 to €269
- Reserves +€31,183
up €31,183 (+11.0%), from €283,103 to €314,286
- Other debts +€9,861
up €9,861 (+190%), from €5,194 to €15,055
- Gross operating margin +€6,432
up €6,432 (+13.2%), from €48,691 to €55,123
- Taxes +€1,410
up €1,410 (+13.0%), from €10,864 to €12,274
- Depreciation -€1,307
down €1,307 (-11.7%), from €11,199 to €9,892
- Other operating charges -€662
down €662 (-31.2%), from €2,122 to €1,460
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 | €305,539 | €351,709 | +€46,170 | +15.1% |
| Fixed assets | 21/28 | €37,388 | €28,824 | -€8,564 | -22.9% |
| Tangible fixed assets | 22/27 | €37,388 | €28,824 | -€8,564 | -22.9% |
| Land and buildings | 22 | €6,519 | €5,570 | -€950 | -14.6% |
| Plant, machinery and equipment | 23 | €2,607 | €2,489 | -€118 | -4.5% |
| Furniture and vehicles | 24 | €28,261 | €20,766 | -€7,496 | -26.5% |
| Current assets | 29/58 | €268,151 | €322,885 | +€54,734 | +20.4% |
| Amounts receivable within one year | 40/41 | €64,130 | €1,726 | -€62,404 | -97.3% |
| Other amounts receivable | 41 | €64,130 | €1,726 | -€62,404 | -97.3% |
| Cash at bank and in hand | 54/58 | €199,174 | €320,891 | +€121,716 | +61.1% |
| Deferred charges and accrued income | 490/1 | €4,846 | €269 | -€4,578 | -94.5% |
| Total equity and liabilities | 10/49 | €305,539 | €351,709 | +€46,170 | +15.1% |
| Equity | 10/15 | €299,042 | €330,226 | +€31,183 | +10.4% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €283,103 | €314,286 | +€31,183 | +11.0% |
| Distributable reserves | 133 | €283,103 | €314,286 | +€31,183 | +11.0% |
| Profit (loss) carried forward | 14 | €7,880 | €7,880 | = | 0.0% |
| Amounts payable | 17/49 | €6,496 | €21,483 | +€14,987 | +231% |
| Amounts payable within one year | 42/48 | €6,496 | €21,483 | +€14,987 | +231% |
| Current portion of amounts payable after more than one year | 42 | - | €3,029 | +€3,029 | |
| Trade debts | 44 | - | €3,400 | +€3,400 | |
| Suppliers | 440/4 | - | €3,400 | +€3,400 | |
| Taxes, remuneration and social security | 45 | €1,302 | €0 | -€1,302 | -100% |
| Taxes | 450/3 | €1,302 | €0 | -€1,302 | -100% |
| Other amounts payable | 47/48 | €5,194 | €15,055 | +€9,861 | +190% |
| Non-recurring operating income | 76A | - | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,199 | €9,892 | -€1,307 | -11.7% |
| Other operating charges | 640/8 | €2,122 | €1,460 | -€662 | -31.2% |
| Gross operating margin | 9900 | €48,691 | €55,123 | +€6,432 | +13.2% |
| Operating profit (loss) | 9901 | €35,369 | €43,770 | +€8,401 | +23.8% |
| Financial income | 75/76B | €1 | €12 | +€11 | +1,111% |
| Recurring financial income | 75 | €1 | €12 | +€11 | +1,111% |
| Financial charges | 65/66B | €484 | €325 | -€159 | -32.9% |
| Recurring financial charges | 65 | €484 | €325 | -€159 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | €34,886 | €43,457 | +€8,571 | +24.6% |
| Income taxes | 67/77 | €10,864 | €12,274 | +€1,410 | +13.0% |
| Profit (loss) for the period | 9904 | €24,022 | €31,183 | +€7,161 | +29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,022 | €31,183 | +€7,161 | +29.8% |
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 1 November 2026 via checked.be.