PELLENS STEFAN: 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.
PELLENS STEFAN
Largest movements
- Receivables within one year +€85,154
up €85,154 (+133%), from €64,047 to €149,201
of which Trade receivables: +€83,722
- Tangible fixed assets +€26,181
up €26,181 (+77.9%), from €33,625 to €59,806
of which Furniture and vehicles: +€27,028
- Cash -€6,730
down €6,730 (-38.4%), from €17,529 to €10,799
mainly Receivables within one year (-€85,154) and Investment in fixed assets (net) (-€39,546)
- Receivables after one year +€3,884
up €3,884 (+8.1%), from €47,888 to €51,772
- Reserves +€47,880
up €47,880 (+87.8%), from €54,556 to €102,436
of which Distributable reserves: +€47,880
- Trade debts +€29,408
up €29,408 (+101%), from €29,157 to €58,565
- Tax, wage and social debts +€20,514
up €20,514 (+1,034%), from €1,984 to €22,498
- Other debts +€4,241
new in 2024: €4,241
- Current portion of long-term debt +€3,165
up €3,165 (+36.6%), from €8,657 to €11,822
- Gross operating margin +€63,025
up €63,025 (+214%), from €29,484 to €92,509
- Taxes +€20,516
up €20,516 (+451%), from €4,548 to €25,064
- Depreciation +€1,852
up €1,852 (+16.1%), from €11,513 to €13,365
- Financial charges +€1,019
up €1,019 (+36.0%), from €2,831 to €3,850
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.
Derived cash bridge
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 | €185,483 | €288,816 | +€103,333 | +55.7% |
| Fixed assets | 21/28 | €33,625 | €59,806 | +€26,181 | +77.9% |
| Tangible fixed assets | 22/27 | €33,625 | €59,806 | +€26,181 | +77.9% |
| Plant, machinery and equipment | 23 | €7,180 | €6,333 | -€847 | -11.8% |
| Furniture and vehicles | 24 | €26,445 | €53,473 | +€27,028 | +102% |
| Current assets | 29/58 | €151,858 | €229,010 | +€77,152 | +50.8% |
| Amounts receivable after more than one year | 29 | €47,888 | €51,772 | +€3,884 | +8.1% |
| Other amounts receivable | 291 | €47,888 | €51,772 | +€3,884 | +8.1% |
| Stocks and contracts in progress | 3 | €6,014 | €3,715 | -€2,299 | -38.2% |
| Stocks | 30/36 | €2,164 | €1,215 | -€949 | -43.9% |
| Contracts in progress | 37 | €3,850 | €2,500 | -€1,350 | -35.1% |
| Amounts receivable within one year | 40/41 | €64,047 | €149,201 | +€85,154 | +133% |
| Trade receivables | 40 | €32,197 | €115,919 | +€83,722 | +260% |
| Other amounts receivable | 41 | €31,850 | €33,282 | +€1,432 | +4.5% |
| Cash at bank and in hand | 54/58 | €17,529 | €10,799 | -€6,730 | -38.4% |
| Deferred charges and accrued income | 490/1 | €16,380 | €13,523 | -€2,857 | -17.4% |
| Total equity and liabilities | 10/49 | €185,483 | €288,816 | +€103,333 | +55.7% |
| Equity | 10/15 | €103,562 | €151,443 | +€47,881 | +46.2% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €54,556 | €102,436 | +€47,880 | +87.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €697 | €697 | = | 0.0% |
| Distributable reserves | 133 | €52,000 | €99,880 | +€47,880 | +92.1% |
| Profit (loss) carried forward | 14 | €42,809 | €42,810 | +€1 | 0.0% |
| Amounts payable | 17/49 | €81,921 | €137,373 | +€55,452 | +67.7% |
| Amounts payable after more than one year | 17 | €38,823 | €36,947 | -€1,876 | -4.8% |
| Financial debts | 170/4 | €38,823 | €36,947 | -€1,876 | -4.8% |
| Amounts payable within one year | 42/48 | €43,098 | €100,426 | +€57,328 | +133% |
| Current portion of amounts payable after more than one year | 42 | €8,657 | €11,822 | +€3,165 | +36.6% |
| Trade debts | 44 | €29,157 | €58,565 | +€29,408 | +101% |
| Suppliers | 440/4 | €29,157 | €58,565 | +€29,408 | +101% |
| Advances received on contracts in progress | 46 | €3,300 | €3,300 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,984 | €22,498 | +€20,514 | +1,034% |
| Taxes | 450/3 | €1,984 | €22,498 | +€20,514 | +1,034% |
| Other amounts payable | 47/48 | - | €4,241 | +€4,241 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,513 | €13,365 | +€1,852 | +16.1% |
| Other operating charges | 640/8 | €2,998 | €3,114 | +€116 | +3.9% |
| Gross operating margin | 9900 | €29,484 | €92,509 | +€63,025 | +214% |
| Operating profit (loss) | 9901 | €14,973 | €76,030 | +€61,057 | +408% |
| Financial income | 75/76B | €711 | €765 | +€54 | +7.6% |
| Recurring financial income | 75 | €711 | €765 | +€54 | +7.6% |
| Financial charges | 65/66B | €2,831 | €3,850 | +€1,019 | +36.0% |
| Recurring financial charges | 65 | €2,831 | €3,850 | +€1,019 | +36.0% |
| Profit (loss) for the period before taxes | 9903 | €12,853 | €72,945 | +€60,092 | +468% |
| Income taxes | 67/77 | €4,548 | €25,064 | +€20,516 | +451% |
| Profit (loss) for the period | 9904 | €8,305 | €47,881 | +€39,576 | +477% |
| Profit (loss) for the period to be appropriated | 9905 | €8,305 | €47,881 | +€39,576 | +477% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.