PEPER 32: 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.
PEPER 32
Largest movements
- Tangible fixed assets -€98,179
no longer reported in 2025 (was €98,179)
of which Plant, machinery and equipment: -€83,284
- Intangible fixed assets -€9,351
no longer reported in 2025 (was €9,351)
- Cash -€5,652
down €5,652 (-63.8%), from €8,863 to €3,211
mainly Other debts (-€64,140) and Net result for the year (-€28,482)
- Receivables within one year -€5,228
down €5,228 (-27.7%), from €18,901 to €13,673
of which Trade receivables: -€5,228
- Other debts -€64,140
down €64,140 (-41.2%), from €155,802 to €91,661
- Trade debts -€18,350
down €18,350 (-31.7%), from €57,907 to €39,557
- Debts after one year -€12,992
down €12,992 (-21.1%), from €61,607 to €48,615
- Profit (loss) carried forward -€12,559
down €12,559 (-6.8%), from -€184,922 to -€197,481
- Tax, wage and social debts -€10,980
down €10,980 (-37.4%), from €29,361 to €18,381
of which Remuneration and social security: -€21,145
- Staff costs -€105,931
down €105,931 (-76.2%), from €138,948 to €33,016
- Depreciation -€15,922
no longer reported in 2025 (was €15,922)
- Gross operating margin +€10,354
up €10,354 (+7.3%), from €141,220 to €151,574
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 | €136,526 | €16,884 | -€119,642 | -87.6% |
| Fixed assets | 21/28 | €107,530 | - | -€107,530 | |
| Intangible fixed assets | 21 | €9,351 | - | -€9,351 | |
| Tangible fixed assets | 22/27 | €98,179 | - | -€98,179 | |
| Land and buildings | 22 | €5,400 | - | -€5,400 | |
| Plant, machinery and equipment | 23 | €83,284 | - | -€83,284 | |
| Furniture and vehicles | 24 | €9,495 | - | -€9,495 | |
| Current assets | 29/58 | €28,996 | €16,884 | -€12,112 | -41.8% |
| Amounts receivable within one year | 40/41 | €18,901 | €13,673 | -€5,228 | -27.7% |
| Trade receivables | 40 | €17,430 | €12,202 | -€5,228 | -30.0% |
| Other amounts receivable | 41 | €1,471 | €1,471 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,863 | €3,211 | -€5,652 | -63.8% |
| Deferred charges and accrued income | 490/1 | €1,232 | - | -€1,232 | |
| Total equity and liabilities | 10/49 | €136,526 | €16,884 | -€119,642 | -87.6% |
| Equity | 10/15 | -€182,922 | -€195,481 | -€12,559 | -6.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€184,922 | -€197,481 | -€12,559 | -6.8% |
| Amounts payable | 17/49 | €319,448 | €212,365 | -€107,083 | -33.5% |
| Amounts payable after more than one year | 17 | €61,607 | €48,615 | -€12,992 | -21.1% |
| Financial debts | 170/4 | €61,607 | €48,615 | -€12,992 | -21.1% |
| Amounts payable within one year | 42/48 | €257,841 | €163,751 | -€94,090 | -36.5% |
| Current portion of amounts payable after more than one year | 42 | €14,770 | €14,151 | -€619 | -4.2% |
| Trade debts | 44 | €57,907 | €39,557 | -€18,350 | -31.7% |
| Suppliers | 440/4 | €57,907 | €39,557 | -€18,350 | -31.7% |
| Taxes, remuneration and social security | 45 | €29,361 | €18,381 | -€10,980 | -37.4% |
| Taxes | 450/3 | €8,216 | €18,381 | +€10,165 | +124% |
| Remuneration and social security | 454/9 | €21,145 | - | -€21,145 | |
| Other amounts payable | 47/48 | €155,802 | €91,661 | -€64,140 | -41.2% |
| Remuneration, social security and pensions | 62 | €138,948 | €33,016 | -€105,931 | -76.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,922 | - | -€15,922 | |
| Other operating charges | 640/8 | €1,951 | €2,316 | +€365 | +18.7% |
| Non-recurring operating charges | 66A | - | €141,297 | +€141,297 | |
| Gross operating margin | 9900 | €141,220 | €151,574 | +€10,354 | +7.3% |
| Operating profit (loss) | 9901 | -€15,601 | -€25,056 | -€9,455 | -60.6% |
| Financial income | 75/76B | €3 | €0 | -€3 | -99.7% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -99.7% |
| Financial charges | 65/66B | €3,546 | €3,426 | -€120 | -3.4% |
| Recurring financial charges | 65 | €3,546 | €3,426 | -€120 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | -€19,144 | -€28,482 | -€9,338 | -48.8% |
| Profit (loss) for the period | 9904 | -€19,144 | -€28,482 | -€9,338 | -48.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,144 | -€28,482 | -€9,338 | -48.8% |
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 18 October 2026 via checked.be.