PAUL DE PRETER: 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 DE PRETER
Largest movements
- Receivables within one year -€35,332
down €35,332 (-52.8%), from €66,855 to €31,523
of which Trade receivables: -€33,017
- Stocks and contracts -€26,532
no longer reported in 2025 (was €26,532)
of which Stocks: -€16,532
- Cash -€14,047
down €14,047 (-46.6%), from €30,116 to €16,069
mainly Net result for the year (-€33,655) and Trade debts (-€30,277)
- Deferred charges and accrued income -€7,258
down €7,258 (-82.6%), from €8,783 to €1,525
- Tangible fixed assets -€2,053
no longer reported in 2025 (was €2,053)
- Profit (loss) carried forward -€33,655
down €33,655 (-21.0%), from -€160,327 to -€193,982
- Trade debts -€30,277
down €30,277 (-75.3%), from €40,208 to €9,931
- Other debts -€26,164
no longer reported in 2025 (was €26,164)
- Debts after one year +€16,638
up €16,638 (+41.6%), from €40,000 to €56,638
- Tax, wage and social debts -€12,312
down €12,312 (-96.0%), from €12,826 to €514
of which Remuneration and social security: -€10,750
- Gross operating margin -€65,565
down €65,565 (-76.8%), from €85,327 to €19,762
- Staff costs -€40,252
down €40,252 (-45.7%), from €88,171 to €47,919
- Other operating charges -€33,701
down €33,701 (-85.7%), from €39,342 to €5,641
- Financial charges -€1,397
down €1,397 (-61.4%), from €2,276 to €879
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 | €134,488 | €49,117 | -€85,371 | -63.5% |
| Fixed assets | 21/28 | €2,202 | - | -€2,202 | |
| Tangible fixed assets | 22/27 | €2,053 | - | -€2,053 | |
| Plant, machinery and equipment | 23 | €2,053 | - | -€2,053 | |
| Financial fixed assets | 28 | €149 | - | -€149 | |
| Current assets | 29/58 | €132,286 | €49,117 | -€83,169 | -62.9% |
| Stocks and contracts in progress | 3 | €26,532 | - | -€26,532 | |
| Stocks | 30/36 | €16,532 | - | -€16,532 | |
| Contracts in progress | 37 | €10,000 | - | -€10,000 | |
| Amounts receivable within one year | 40/41 | €66,855 | €31,523 | -€35,332 | -52.8% |
| Trade receivables | 40 | €64,540 | €31,523 | -€33,017 | -51.2% |
| Other amounts receivable | 41 | €2,315 | - | -€2,315 | |
| Cash at bank and in hand | 54/58 | €30,116 | €16,069 | -€14,047 | -46.6% |
| Deferred charges and accrued income | 490/1 | €8,783 | €1,525 | -€7,258 | -82.6% |
| Total equity and liabilities | 10/49 | €134,488 | €49,117 | -€85,371 | -63.5% |
| Equity | 10/15 | €15,290 | -€18,365 | -€33,655 | |
| Contributions | 10/11 | €105,000 | €105,000 | = | 0.0% |
| Reserves | 13 | €70,617 | €70,617 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,500 | €10,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,500 | €10,500 | = | 0.0% |
| Distributable reserves | 133 | €60,117 | €60,117 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€160,327 | -€193,982 | -€33,655 | -21.0% |
| Amounts payable | 17/49 | €119,198 | €67,482 | -€51,716 | -43.4% |
| Amounts payable after more than one year | 17 | €40,000 | €56,638 | +€16,638 | +41.6% |
| Financial debts | 170/4 | €40,000 | €56,638 | +€16,638 | +41.6% |
| Amounts payable within one year | 42/48 | €79,198 | €10,444 | -€68,754 | -86.8% |
| Trade debts | 44 | €40,208 | €9,931 | -€30,277 | -75.3% |
| Suppliers | 440/4 | €40,208 | €9,931 | -€30,277 | -75.3% |
| Taxes, remuneration and social security | 45 | €12,826 | €514 | -€12,312 | -96.0% |
| Taxes | 450/3 | €2,075 | €514 | -€1,562 | -75.3% |
| Remuneration and social security | 454/9 | €10,750 | - | -€10,750 | |
| Other amounts payable | 47/48 | €26,164 | - | -€26,164 | |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Non-recurring operating income | 76A | - | €5,340 | +€5,340 | |
| Remuneration, social security and pensions | 62 | €88,171 | €47,919 | -€40,252 | -45.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €609 | - | -€609 | |
| Other operating charges | 640/8 | €39,342 | €5,641 | -€33,701 | -85.7% |
| Non-recurring operating charges | 66A | €4,936 | - | -€4,936 | |
| Gross operating margin | 9900 | €85,327 | €19,762 | -€65,565 | -76.8% |
| Operating profit (loss) | 9901 | -€47,732 | -€33,798 | +€13,933 | +29.2% |
| Financial income | 75/76B | €248 | €1,022 | +€775 | +313% |
| Recurring financial income | 75 | €248 | €1,022 | +€775 | +313% |
| Financial charges | 65/66B | €2,276 | €879 | -€1,397 | -61.4% |
| Recurring financial charges | 65 | €2,276 | €879 | -€1,397 | -61.4% |
| Profit (loss) for the period before taxes | 9903 | -€49,760 | -€33,655 | +€16,105 | +32.4% |
| Income taxes | 67/77 | €279 | - | -€279 | |
| Profit (loss) for the period | 9904 | -€50,039 | -€33,655 | +€16,383 | +32.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,039 | -€33,655 | +€16,383 | +32.7% |
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 27 October 2026 via checked.be.