PeopleWare: 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.
PeopleWare
Largest movements
- Financial fixed assets -€240,000
down €240,000 (-42.4%), from €566,525 to €326,525
- Receivables within one year -€216,356
down €216,356 (-21.4%), from €1.0m to €793,308
of which Trade receivables: -€286,274
- Cash +€207,647
up €207,647 (+16.9%), from €1.2m to €1.4m
mainly Net result for the year (+€532,465) and Receivables within one year (+€216,356)
- Other debts -€225,650
down €225,650 (-25.8%), from €875,650 to €650,000
- Current portion of long-term debt -€150,000
no longer reported in 2025 (was €150,000)
- Accrued charges and deferred income +€142,291
up €142,291 (+49.2%), from €289,216 to €431,508
- Profit (loss) carried forward -€117,535
down €117,535 (-23.2%), from €506,380 to €388,845
- Trade debts +€45,498
up €45,498 (+26.7%), from €170,279 to €215,777
- Gross operating margin -€289,197
down €289,197 (-5.4%), from €5.4m to €5.1m
- Turnover -€269,307
down €269,307 (-3.6%), from €7.4m to €7.2m
- Taxes -€112,166
down €112,166 (-39.3%), from €285,464 to €173,298
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 | €2,973,826 | €2,706,893 | -€266,933 | -9.0% |
| Fixed assets | 21/28 | €680,223 | €432,213 | -€248,009 | -36.5% |
| Tangible fixed assets | 22/27 | €113,698 | €105,688 | -€8,009 | -7.0% |
| Furniture and vehicles | 24 | €113,698 | €105,688 | -€8,009 | -7.0% |
| Financial fixed assets | 28 | €566,525 | €326,525 | -€240,000 | -42.4% |
| Current assets | 29/58 | €2,293,603 | €2,274,680 | -€18,923 | -0.8% |
| Amounts receivable within one year | 40/41 | €1,009,664 | €793,308 | -€216,356 | -21.4% |
| Trade receivables | 40 | €1,001,271 | €714,996 | -€286,274 | -28.6% |
| Other amounts receivable | 41 | €8,393 | €78,312 | +€69,918 | +833% |
| Current investments | 50/53 | €31,008 | €31,008 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,230,930 | €1,438,578 | +€207,647 | +16.9% |
| Deferred charges and accrued income | 490/1 | €22,001 | €11,786 | -€10,215 | -46.4% |
| Total equity and liabilities | 10/49 | €2,973,826 | €2,706,893 | -€266,933 | -9.0% |
| Equity | 10/15 | €801,548 | €684,013 | -€117,535 | -14.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €233,168 | €233,168 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €226,968 | €226,968 | = | 0.0% |
| Profit (loss) carried forward | 14 | €506,380 | €388,845 | -€117,535 | -23.2% |
| Amounts payable | 17/49 | €2,172,278 | €2,022,881 | -€149,398 | -6.9% |
| Amounts payable within one year | 42/48 | €1,883,062 | €1,591,373 | -€291,689 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €150,000 | - | -€150,000 | |
| Trade debts | 44 | €170,279 | €215,777 | +€45,498 | +26.7% |
| Suppliers | 440/4 | €170,279 | €215,777 | +€45,498 | +26.7% |
| Taxes, remuneration and social security | 45 | €687,133 | €725,595 | +€38,462 | +5.6% |
| Taxes | 450/3 | €177,615 | €178,283 | +€668 | +0.4% |
| Remuneration and social security | 454/9 | €509,518 | €547,313 | +€37,794 | +7.4% |
| Other amounts payable | 47/48 | €875,650 | €650,000 | -€225,650 | -25.8% |
| Accrued charges and deferred income | 492/3 | €289,216 | €431,508 | +€142,291 | +49.2% |
| Turnover | 70 | €7,425,100 | €7,155,793 | -€269,307 | -3.6% |
| Non-recurring operating income | 76A | €77,434 | €30,463 | -€46,971 | -60.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,392,512 | €2,440,250 | +€47,738 | +2.0% |
| Remuneration, social security and pensions | 62 | €4,344,899 | €4,298,601 | -€46,298 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,195 | €60,135 | +€5,941 | +11.0% |
| Other operating charges | 640/8 | €10,467 | €4,834 | -€5,633 | -53.8% |
| Non-recurring operating charges | 66A | - | €3,236 | +€3,236 | |
| Gross operating margin | 9900 | €5,366,102 | €5,076,905 | -€289,197 | -5.4% |
| Operating profit (loss) | 9901 | €956,540 | €710,099 | -€246,442 | -25.8% |
| Financial income | 75/76B | €38,598 | €26,053 | -€12,545 | -32.5% |
| Recurring financial income | 75 | €38,598 | €26,053 | -€12,545 | -32.5% |
| Financial charges | 65/66B | €31,970 | €30,389 | -€1,581 | -4.9% |
| Recurring financial charges | 65 | €31,970 | €30,389 | -€1,581 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €963,169 | €705,763 | -€257,406 | -26.7% |
| Income taxes | 67/77 | €285,464 | €173,298 | -€112,166 | -39.3% |
| Profit (loss) for the period | 9904 | €677,704 | €532,465 | -€145,239 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €677,704 | €532,465 | -€145,239 | -21.4% |
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 15 October 2026 via checked.be.