PECUNIAE: 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.
PECUNIAE
Largest movements
- Receivables after one year +€1.6m
up €1.6m, from €0 to €1.6m
- Financial fixed assets -€354,797
down €354,797 (-8.5%), from €4.2m to €3.8m
- Receivables within one year +€223,790
up €223,790 (+99.9%), from €223,933 to €447,722
of which Other amounts receivable: +€152,170
- Debts after one year +€887,356
up €887,356 (+360.9%), from €245,881 to €1.1m
- Other debts +€480,885
up €480,885, from €0 to €480,885
- Financial charges +€140,364
up €140,364 (+1382.8%), from €10,150 to €150,515
of which Non-recurring financial charges: +€104,796
- Financial income +€61,005
up €61,005 (+616.9%), from €9,889 to €70,893
- Gross operating margin +€26,155
up €26,155 (+16.0%), from €163,819 to €189,974
- Taxes +€12,336
up €12,336 (+32.9%), from €37,442 to €49,778
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.
Cash bridge derived
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 | €4,426,039 | €5,852,331 | +€1.4m | +32.2% |
| Fixed assets | 21/28 | €4,198,522 | €3,822,034 | -€376,487 | -9.0% |
| Tangible fixed assets | 22/27 | €43,725 | €22,034 | -€21,690 | -49.6% |
| Furniture and vehicles | 24 | €43,725 | €22,034 | -€21,690 | -49.6% |
| Financial fixed assets | 28 | €4,154,797 | €3,800,000 | -€354,797 | -8.5% |
| Current assets | 29/58 | €227,517 | €2,030,296 | +€1.8m | +792.4% |
| Amounts receivable after more than one year | 29 | €0 | €1,562,464 | +€1.6m | |
| Other amounts receivable | 291 | €0 | €1,562,464 | +€1.6m | |
| Amounts receivable within one year | 40/41 | €223,933 | €447,722 | +€223,790 | +99.9% |
| Trade receivables | 40 | €102,850 | €174,470 | +€71,620 | +69.6% |
| Other amounts receivable | 41 | €121,083 | €273,252 | +€152,170 | +125.7% |
| Cash at bank and in hand | 54/58 | €3,584 | €20,110 | +€16,526 | +461.1% |
| Total equity and liabilities | 10/49 | €4,426,039 | €5,852,331 | +€1.4m | +32.2% |
| Equity | 10/15 | €3,981,921 | €4,017,672 | +€35,751 | +0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,961,461 | €3,997,212 | +€35,751 | +0.9% |
| Amounts payable | 17/49 | €444,117 | €1,834,659 | +€1.4m | +313.1% |
| Amounts payable after more than one year | 17 | €245,881 | €1,133,237 | +€887,356 | +360.9% |
| Financial debts | 170/4 | €245,881 | €1,133,237 | +€887,356 | +360.9% |
| Amounts payable within one year | 42/48 | €198,236 | €676,491 | +€478,254 | +241.3% |
| Current portion of amounts payable after more than one year | 42 | €114,782 | €112,644 | -€2,137 | -1.9% |
| Financial debts | 43 | €29,167 | €29,167 | = | 0.0% |
| Credit institutions | 430/8 | €29,167 | €29,167 | = | 0.0% |
| Trade debts | 44 | €50,921 | €50,332 | -€589 | -1.2% |
| Suppliers | 440/4 | €50,921 | €50,332 | -€589 | -1.2% |
| Taxes, remuneration and social security | 45 | €3,367 | €3,463 | +€96 | +2.9% |
| Taxes | 450/3 | - | €72 | +€72 | |
| Remuneration and social security | 454/9 | €3,367 | €3,391 | +€25 | +0.7% |
| Other amounts payable | 47/48 | €0 | €480,885 | +€480,885 | |
| Accrued charges and deferred income | 492/3 | - | €24,932 | +€24,932 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,690 | €21,690 | = | 0.0% |
| Other operating charges | 640/8 | €1,422 | €3,133 | +€1,712 | +120.4% |
| Gross operating margin | 9900 | €163,819 | €189,974 | +€26,155 | +16.0% |
| Operating profit (loss) | 9901 | €140,707 | €165,150 | +€24,443 | +17.4% |
| Financial income | 75/76B | €9,889 | €70,893 | +€61,005 | +616.9% |
| Recurring financial income | 75 | €9,889 | €70,893 | +€61,005 | +616.9% |
| Financial charges | 65/66B | €10,150 | €150,515 | +€140,364 | +1382.8% |
| Recurring financial charges | 65 | €10,150 | €45,719 | +€35,568 | +350.4% |
| Non-recurring financial charges | 66B | - | €104,796 | +€104,796 | |
| Profit (loss) for the period before taxes | 9903 | €140,445 | €85,529 | -€54,917 | -39.1% |
| Income taxes | 67/77 | €37,442 | €49,778 | +€12,336 | +32.9% |
| Profit (loss) for the period | 9904 | €103,003 | €35,751 | -€67,253 | -65.3% |
| Profit (loss) for the period to be appropriated | 9905 | €103,003 | €35,751 | -€67,253 | -65.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.