PERLE DE SIAM: 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.
PERLE DE SIAM
Largest movements
- Receivables within one year +€54,920
up €54,920 (+204%), from €26,904 to €81,824
of which Trade receivables: +€64,624
- Cash -€33,096
no longer reported in 2025 (was €33,096)
mainly Tax, wage and social debts (-€131,391) and Net result for the year (-€117,621)
- Tangible fixed assets -€8,551
down €8,551 (-35.2%), from €24,285 to €15,734
of which Plant, machinery and equipment: -€6,271
- Other debts +€282,878
new in 2025: €282,878
- Tax, wage and social debts -€131,391
down €131,391 (-93.6%), from €140,380 to €8,988
of which Remuneration and social security: -€81,489
- Profit (loss) carried forward -€117,621
down €117,621, from €11,638 to -€105,984
- Trade debts -€26,505
down €26,505 (-35.6%), from €74,455 to €47,950
- Accrued charges and deferred income +€3,063
up €3,063 (+136%), from €2,257 to €5,320
- Gross operating margin -€279,915
down €279,915, from €265,487 to -€14,428
- Staff costs -€166,710
down €166,710 (-68.9%), from €242,095 to €75,384
- Other operating charges -€21,979
down €21,979 (-65.2%), from €33,694 to €11,715
- Financial charges +€5,195
up €5,195 (+87.6%), from €5,927 to €11,122
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 | €267,540 | €278,762 | +€11,222 | +4.2% |
| Fixed assets | 21/28 | €45,625 | €36,824 | -€8,801 | -19.3% |
| Tangible fixed assets | 22/27 | €24,285 | €15,734 | -€8,551 | -35.2% |
| Plant, machinery and equipment | 23 | €21,333 | €15,062 | -€6,271 | -29.4% |
| Furniture and vehicles | 24 | €2,952 | €672 | -€2,280 | -77.2% |
| Financial fixed assets | 28 | €21,340 | €21,090 | -€250 | -1.2% |
| Current assets | 29/58 | €221,914 | €241,938 | +€20,024 | +9.0% |
| Amounts receivable after more than one year | 29 | €160,000 | €160,000 | = | 0.0% |
| Other amounts receivable | 291 | €160,000 | €160,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €1,632 | - | -€1,632 | |
| Stocks | 30/36 | €1,632 | - | -€1,632 | |
| Amounts receivable within one year | 40/41 | €26,904 | €81,824 | +€54,920 | +204% |
| Trade receivables | 40 | €14,059 | €78,682 | +€64,624 | +460% |
| Other amounts receivable | 41 | €12,845 | €3,142 | -€9,703 | -75.5% |
| Cash at bank and in hand | 54/58 | €33,096 | - | -€33,096 | |
| Deferred charges and accrued income | 490/1 | €282 | €114 | -€168 | -59.6% |
| Total equity and liabilities | 10/49 | €267,540 | €278,762 | +€11,222 | +4.2% |
| Equity | 10/15 | €50,448 | -€67,174 | -€117,621 | |
| Contributions | 10/11 | €20,060 | €20,060 | = | 0.0% |
| Reserves | 13 | €18,750 | €18,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,638 | -€105,984 | -€117,621 | |
| Amounts payable | 17/49 | €217,092 | €345,935 | +€128,843 | +59.3% |
| Amounts payable within one year | 42/48 | €214,835 | €340,615 | +€125,781 | +58.5% |
| Financial debts | 43 | - | €799 | +€799 | |
| Credit institutions | 430/8 | - | €799 | +€799 | |
| Trade debts | 44 | €74,455 | €47,950 | -€26,505 | -35.6% |
| Suppliers | 440/4 | €74,455 | €47,950 | -€26,505 | -35.6% |
| Taxes, remuneration and social security | 45 | €140,380 | €8,988 | -€131,391 | -93.6% |
| Taxes | 450/3 | €49,902 | - | -€49,902 | |
| Remuneration and social security | 454/9 | €90,477 | €8,988 | -€81,489 | -90.1% |
| Other amounts payable | 47/48 | - | €282,878 | +€282,878 | |
| Accrued charges and deferred income | 492/3 | €2,257 | €5,320 | +€3,063 | +136% |
| Remuneration, social security and pensions | 62 | €242,095 | €75,384 | -€166,710 | -68.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,745 | €6,484 | -€2,262 | -25.9% |
| Other operating charges | 640/8 | €33,694 | €11,715 | -€21,979 | -65.2% |
| Non-recurring operating charges | 66A | - | €2,068 | +€2,068 | |
| Gross operating margin | 9900 | €265,487 | -€14,428 | -€279,915 | |
| Operating profit (loss) | 9901 | -€19,046 | -€110,079 | -€91,032 | -478% |
| Financial income | 75/76B | €4,308 | €3,579 | -€729 | -16.9% |
| Recurring financial income | 75 | €4,308 | €3,579 | -€729 | -16.9% |
| Financial charges | 65/66B | €5,927 | €11,122 | +€5,195 | +87.6% |
| Recurring financial charges | 65 | €5,927 | €11,122 | +€5,195 | +87.6% |
| Profit (loss) for the period before taxes | 9903 | -€20,665 | -€117,621 | -€96,956 | -469% |
| Income taxes | 67/77 | €346 | - | -€346 | |
| Profit (loss) for the period | 9904 | -€21,012 | -€117,621 | -€96,609 | -460% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,012 | -€117,621 | -€96,609 | -460% |
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 24 October 2026 via checked.be.