PAUL HAEST: 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 HAEST
Largest movements
- Current investments +€11,776
up €11,776 (+16.0%), from €73,824 to €85,600
- Receivables within one year -€10,087
down €10,087 (-57.9%), from €17,411 to €7,324
of which Other amounts receivable: -€12,693
- Tangible fixed assets -€6,379
down €6,379 (-22.7%), from €28,137 to €21,758
of which Furniture and vehicles: -€8,255
- Debts after one year -€5,727
down €5,727 (-40.2%), from €14,257 to €8,530
- Gross operating margin +€4,637
up €4,637 (+19.7%), from €23,593 to €28,230
- Taxes +€1,289
up €1,289 (+31.3%), from €4,118 to €5,407
- Financial income -€661
down €661 (-99.1%), from €667 to €6
- Financial charges -€351
down €351 (-25.4%), from €1,383 to €1,032
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 | €126,795 | €122,498 | -€4,297 | -3.4% |
| Fixed assets | 21/28 | €28,137 | €21,758 | -€6,379 | -22.7% |
| Tangible fixed assets | 22/27 | €28,137 | €21,758 | -€6,379 | -22.7% |
| Plant, machinery and equipment | 23 | - | €1,876 | +€1,876 | |
| Furniture and vehicles | 24 | €28,137 | €19,882 | -€8,255 | -29.3% |
| Current assets | 29/58 | €98,658 | €100,740 | +€2,082 | +2.1% |
| Amounts receivable within one year | 40/41 | €17,411 | €7,324 | -€10,087 | -57.9% |
| Trade receivables | 40 | €4,717 | €7,323 | +€2,606 | +55.2% |
| Other amounts receivable | 41 | €12,694 | €1 | -€12,693 | -100.0% |
| Current investments | 50/53 | €73,824 | €85,600 | +€11,776 | +16.0% |
| Cash at bank and in hand | 54/58 | €4,852 | €5,237 | +€385 | +7.9% |
| Deferred charges and accrued income | 490/1 | €2,571 | €2,579 | +€8 | +0.3% |
| Total equity and liabilities | 10/49 | €126,795 | €122,498 | -€4,297 | -3.4% |
| Equity | 10/15 | €85,940 | €86,892 | +€952 | +1.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €79,740 | €80,692 | +€952 | +1.2% |
| Distributable reserves | 133 | €79,740 | €80,692 | +€952 | +1.2% |
| Amounts payable | 17/49 | €40,855 | €35,606 | -€5,249 | -12.8% |
| Amounts payable after more than one year | 17 | €14,257 | €8,530 | -€5,727 | -40.2% |
| Financial debts | 170/4 | €14,257 | €8,530 | -€5,727 | -40.2% |
| Amounts payable within one year | 42/48 | €26,598 | €27,076 | +€478 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €5,495 | €5,727 | +€232 | +4.2% |
| Financial debts | 43 | €4,167 | €4,167 | = | 0.0% |
| Credit institutions | 430/8 | €4,167 | €4,167 | = | 0.0% |
| Trade debts | 44 | €301 | €1,094 | +€793 | +263% |
| Suppliers | 440/4 | €301 | €1,094 | +€793 | +263% |
| Taxes, remuneration and social security | 45 | €1,915 | €1,555 | -€360 | -18.8% |
| Taxes | 450/3 | €1,915 | €1,555 | -€360 | -18.8% |
| Other amounts payable | 47/48 | €14,720 | €14,533 | -€187 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,256 | €8,324 | +€68 | +0.8% |
| Other operating charges | 640/8 | €922 | €825 | -€97 | -10.5% |
| Gross operating margin | 9900 | €23,593 | €28,230 | +€4,637 | +19.7% |
| Operating profit (loss) | 9901 | €14,415 | €19,081 | +€4,666 | +32.4% |
| Financial income | 75/76B | €667 | €6 | -€661 | -99.1% |
| Recurring financial income | 75 | €667 | €6 | -€661 | -99.1% |
| Financial charges | 65/66B | €1,383 | €1,032 | -€351 | -25.4% |
| Recurring financial charges | 65 | €1,383 | €1,032 | -€351 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €13,699 | €18,055 | +€4,356 | +31.8% |
| Income taxes | 67/77 | €4,118 | €5,407 | +€1,289 | +31.3% |
| Profit (loss) for the period | 9904 | €9,581 | €12,648 | +€3,067 | +32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,581 | €12,648 | +€3,067 | +32.0% |
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 21 October 2026 via checked.be.