PERFECT WORKS: 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.
PERFECT WORKS
Largest movements
- Tangible fixed assets -€29,701
down €29,701 (-3.4%), from €863,426 to €833,725
of which Land and buildings: -€28,291
- Cash +€23,393
up €23,393 (+63.0%), from €37,134 to €60,527
mainly Depreciation (+€29,701) and Net result for the year (+€17,703)
- Reserves +€17,703
up €17,703 (+34.8%), from €50,810 to €68,513
- Debts after one year -€10,774
down €10,774 (-6.1%), from €177,333 to €166,559
- Other debts -€9,965
down €9,965 (-1.5%), from €647,426 to €637,461
- Gross operating margin +€22,388
up €22,388 (+57.7%), from €38,773 to €61,161
- Write-downs -€9,000
down €9,000, from €4,500 to -€4,500
- Financial charges -€5,210
down €5,210 (-37.7%), from €13,817 to €8,606
- Taxes +€4,186
up €4,186, from €0 to €4,186
- Other operating charges +€874
up €874 (+18.8%), from €4,641 to €5,515
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 | €915,307 | €915,344 | +€37 | 0.0% |
| Fixed assets | 21/28 | €863,426 | €833,725 | -€29,701 | -3.4% |
| Tangible fixed assets | 22/27 | €863,426 | €833,725 | -€29,701 | -3.4% |
| Land and buildings | 22 | €859,676 | €831,385 | -€28,291 | -3.3% |
| Plant, machinery and equipment | 23 | €3,263 | €2,340 | -€923 | -28.3% |
| Furniture and vehicles | 24 | €488 | €0 | -€488 | -100% |
| Current assets | 29/58 | €51,881 | €81,620 | +€29,739 | +57.3% |
| Stocks and contracts in progress | 3 | €2,025 | €4,867 | +€2,842 | +140% |
| Stocks | 30/36 | €2,025 | €4,867 | +€2,842 | +140% |
| Amounts receivable within one year | 40/41 | €9,767 | €12,234 | +€2,467 | +25.3% |
| Trade receivables | 40 | €6,948 | €10,234 | +€3,287 | +47.3% |
| Other amounts receivable | 41 | €2,820 | €2,000 | -€820 | -29.1% |
| Cash at bank and in hand | 54/58 | €37,134 | €60,527 | +€23,393 | +63.0% |
| Deferred charges and accrued income | 490/1 | €2,955 | €3,992 | +€1,037 | +35.1% |
| Total equity and liabilities | 10/49 | €915,307 | €915,344 | +€37 | 0.0% |
| Equity | 10/15 | €70,810 | €88,513 | +€17,703 | +25.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €50,810 | €68,513 | +€17,703 | +34.8% |
| Distributable reserves | 133 | €50,810 | €68,513 | +€17,703 | +34.8% |
| Amounts payable | 17/49 | €844,498 | €826,831 | -€17,666 | -2.1% |
| Amounts payable after more than one year | 17 | €177,333 | €166,559 | -€10,774 | -6.1% |
| Financial debts | 170/4 | €177,333 | €166,559 | -€10,774 | -6.1% |
| Amounts payable within one year | 42/48 | €662,477 | €655,567 | -€6,910 | -1.0% |
| Current portion of amounts payable after more than one year | 42 | €10,336 | €10,774 | +€438 | +4.2% |
| Trade debts | 44 | €1,817 | €1,491 | -€326 | -17.9% |
| Suppliers | 440/4 | €1,817 | €1,491 | -€326 | -17.9% |
| Advances received on contracts in progress | 46 | €139 | €0 | -€139 | -100% |
| Taxes, remuneration and social security | 45 | €2,759 | €5,841 | +€3,082 | +112% |
| Taxes | 450/3 | €2,759 | €4,841 | +€2,082 | +75.5% |
| Remuneration and social security | 454/9 | - | €1,000 | +€1,000 | |
| Other amounts payable | 47/48 | €647,426 | €637,461 | -€9,965 | -1.5% |
| Accrued charges and deferred income | 492/3 | €4,688 | €4,705 | +€18 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,127 | €29,701 | -€426 | -1.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,500 | -€4,500 | -€9,000 | |
| Other operating charges | 640/8 | €4,641 | €5,515 | +€874 | +18.8% |
| Gross operating margin | 9900 | €38,773 | €61,161 | +€22,388 | +57.7% |
| Operating profit (loss) | 9901 | -€495 | €30,444 | +€30,939 | |
| Financial income | 75/76B | €12 | €52 | +€39 | +321% |
| Recurring financial income | 75 | €12 | €52 | +€39 | +321% |
| Financial charges | 65/66B | €13,817 | €8,606 | -€5,210 | -37.7% |
| Recurring financial charges | 65 | €13,817 | €8,606 | -€5,210 | -37.7% |
| Profit (loss) for the period before taxes | 9903 | -€14,300 | €21,889 | +€36,189 | |
| Income taxes | 67/77 | €0 | €4,186 | +€4,186 | |
| Profit (loss) for the period | 9904 | -€14,300 | €17,703 | +€32,003 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,300 | €17,703 | +€32,003 |
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.