PERFEX: what changed
PERFEX
Largest movements
- Receivables within one year +€123,981
up €123,981 (+76.0%), from €163,240 to €287,222
of which Trade receivables: +€136,015
- Cash +€53,996
up €53,996 (+62.8%), from €86,031 to €140,027
mainly Net result for the year (+€105,823) and Trade debts (+€45,692)
- Stocks and contracts +€7,115
up €7,115 (+194%), from €3,675 to €10,790
- Tangible fixed assets -€6,466
down €6,466 (-15.8%), from €40,869 to €34,402
of which Furniture and vehicles: -€10,303
- Reserves +€90,823
up €90,823 (+55.1%), from €164,768 to €255,590
- Trade debts +€45,692
up €45,692 (+56.7%), from €80,515 to €126,207
- Tax, wage and social debts +€26,385
up €26,385 (+248%), from €10,641 to €37,025
- Other debts +€15,031
new in 2025: €15,031
- Gross operating margin +€123,765
up €123,765 (+44.4%), from €278,665 to €402,430
- Taxes +€37,110
up €37,110 (+401%), from €9,251 to €46,361
- Depreciation +€6,387
up €6,387 (+50.2%), from €12,711 to €19,097
- Staff costs +€5,696
up €5,696 (+2.6%), from €222,029 to €227,724
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €294,659 | €475,770 | +€181,111 | +61.5% |
| Formation expenses | 20 | €645 | €180 | -€465 | -72.0% |
| Fixed assets | 21/28 | €40,869 | €37,057 | -€3,811 | -9.3% |
| Tangible fixed assets | 22/27 | €40,869 | €34,402 | -€6,466 | -15.8% |
| Plant, machinery and equipment | 23 | - | €3,836 | +€3,836 | |
| Furniture and vehicles | 24 | €40,869 | €30,566 | -€10,303 | -25.2% |
| Financial fixed assets | 28 | - | €2,655 | +€2,655 | |
| Current assets | 29/58 | €253,146 | €438,533 | +€185,387 | +73.2% |
| Stocks and contracts in progress | 3 | €3,675 | €10,790 | +€7,115 | +194% |
| Stocks | 30/36 | €3,675 | €10,790 | +€7,115 | +194% |
| Amounts receivable within one year | 40/41 | €163,240 | €287,222 | +€123,981 | +76.0% |
| Trade receivables | 40 | €147,994 | €284,009 | +€136,015 | +91.9% |
| Other amounts receivable | 41 | €15,246 | €3,213 | -€12,033 | -78.9% |
| Cash at bank and in hand | 54/58 | €86,031 | €140,027 | +€53,996 | +62.8% |
| Deferred charges and accrued income | 490/1 | €199 | €493 | +€294 | +148% |
| Total equity and liabilities | 10/49 | €294,659 | €475,770 | +€181,111 | +61.5% |
| Equity | 10/15 | €174,768 | €265,590 | +€90,823 | +52.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €164,768 | €255,590 | +€90,823 | +55.1% |
| Distributable reserves | 133 | €164,768 | €255,590 | +€90,823 | +55.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €119,892 | €210,180 | +€90,288 | +75.3% |
| Amounts payable after more than one year | 17 | €10,952 | €12,715 | +€1,763 | +16.1% |
| Financial debts | 170/4 | €10,952 | €12,715 | +€1,763 | +16.1% |
| Amounts payable within one year | 42/48 | €103,771 | €192,730 | +€88,959 | +85.7% |
| Current portion of amounts payable after more than one year | 42 | €12,616 | €14,467 | +€1,851 | +14.7% |
| Trade debts | 44 | €80,515 | €126,207 | +€45,692 | +56.7% |
| Suppliers | 440/4 | €80,515 | €126,207 | +€45,692 | +56.7% |
| Taxes, remuneration and social security | 45 | €10,641 | €37,025 | +€26,385 | +248% |
| Taxes | 450/3 | €10,641 | €37,025 | +€26,385 | +248% |
| Other amounts payable | 47/48 | - | €15,031 | +€15,031 | |
| Accrued charges and deferred income | 492/3 | €5,168 | €4,734 | -€434 | -8.4% |
| Remuneration, social security and pensions | 62 | €222,029 | €227,724 | +€5,696 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,711 | €19,097 | +€6,387 | +50.2% |
| Other operating charges | 640/8 | €1,274 | €2,048 | +€774 | +60.8% |
| Gross operating margin | 9900 | €278,665 | €402,430 | +€123,765 | +44.4% |
| Operating profit (loss) | 9901 | €42,651 | €153,560 | +€110,909 | +260% |
| Financial income | 75/76B | €778 | €491 | -€287 | -36.9% |
| Recurring financial income | 75 | €778 | €491 | -€287 | -36.9% |
| Financial charges | 65/66B | €2,207 | €1,867 | -€341 | -15.4% |
| Recurring financial charges | 65 | €2,207 | €1,867 | -€341 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €41,222 | €152,184 | +€110,962 | +269% |
| Income taxes | 67/77 | €9,251 | €46,361 | +€37,110 | +401% |
| Profit (loss) for the period | 9904 | €31,971 | €105,823 | +€73,852 | +231% |
| Profit (loss) for the period to be appropriated | 9905 | €31,971 | €105,823 | +€73,852 | +231% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.