PERSEVERANTIUS: what changed
Two fiscal 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.
PERSEVERANTIUS
Largest movements
- Cash +€145,998
up €145,998 (+174.8%), from €83,535 to €229,533
mainly Trade debts (+€322,547) and Debts after one year (+€68,941)
- Receivables within one year +€115,724
up €115,724 (+42.4%), from €272,874 to €388,598
of which Trade receivables: +€61,123
- Trade debts +€322,547
up €322,547 (+125.8%), from €256,480 to €579,027
- Short-term financial debts -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Debts after one year +€68,941
up €68,941 (+30.9%), from €222,863 to €291,804
- Tax, wage and social debts -€40,472
down €40,472 (-53.4%), from €75,748 to €35,276
of which Taxes: -€30,601
- Current portion of long-term debt +€18,975
new in 2025: €18,975
- Gross operating margin +€28,499
up €28,499 (+15.9%), from €179,102 to €207,601
- Taxes -€19,972
down €19,972 (-76.2%), from €26,205 to €6,233
- Write-downs +€5,860
up €5,860, from -€5,860 to €0
- Financial charges -€4,426
down €4,426 (-17.3%), from €25,544 to €21,118
- Staff costs -€4,246
down €4,246 (-2.3%), from €183,051 to €178,805
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.
Cash bridge derived
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 | €524,262 | €790,175 | +€265,913 | +50.7% |
| Fixed assets | 21/28 | €5,814 | €8,102 | +€2,288 | +39.4% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €5,814 | €8,102 | +€2,288 | +39.4% |
| Plant, machinery and equipment | 23 | €2,686 | €3,631 | +€945 | +35.2% |
| Furniture and vehicles | 24 | €3,128 | €4,471 | +€1,343 | +42.9% |
| Current assets | 29/58 | €518,448 | €782,072 | +€263,625 | +50.8% |
| Stocks and contracts in progress | 3 | €160,361 | €158,941 | -€1,420 | -0.9% |
| Stocks | 30/36 | €160,361 | €158,941 | -€1,420 | -0.9% |
| Amounts receivable within one year | 40/41 | €272,874 | €388,598 | +€115,724 | +42.4% |
| Trade receivables | 40 | €101,039 | €162,162 | +€61,123 | +60.5% |
| Other amounts receivable | 41 | €171,835 | €226,437 | +€54,601 | +31.8% |
| Cash at bank and in hand | 54/58 | €83,535 | €229,533 | +€145,998 | +174.8% |
| Deferred charges and accrued income | 490/1 | €1,678 | €5,000 | +€3,322 | +198.0% |
| Total equity and liabilities | 10/49 | €524,262 | €790,175 | +€265,913 | +50.7% |
| Equity | 10/15 | -€138,211 | -€142,059 | -€3,848 | -2.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €267 | €267 | = | 0.0% |
| Distributable reserves | 133 | €267 | €267 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€158,479 | -€162,326 | -€3,848 | -2.4% |
| Amounts payable | 17/49 | €662,473 | €932,234 | +€269,761 | +40.7% |
| Amounts payable after more than one year | 17 | €222,863 | €291,804 | +€68,941 | +30.9% |
| Financial debts | 170/4 | €222,863 | €291,804 | +€68,941 | +30.9% |
| Amounts payable within one year | 42/48 | €439,610 | €640,429 | +€200,819 | +45.7% |
| Current portion of amounts payable after more than one year | 42 | - | €18,975 | +€18,975 | |
| Financial debts | 43 | €100,000 | €0 | -€100,000 | -100.0% |
| Credit institutions | 430/8 | €100,000 | €0 | -€100,000 | -100.0% |
| Trade debts | 44 | €256,480 | €579,027 | +€322,547 | +125.8% |
| Suppliers | 440/4 | €256,480 | €579,027 | +€322,547 | +125.8% |
| Taxes, remuneration and social security | 45 | €75,748 | €35,276 | -€40,472 | -53.4% |
| Taxes | 450/3 | €43,103 | €12,502 | -€30,601 | -71.0% |
| Remuneration and social security | 454/9 | €32,645 | €22,774 | -€9,871 | -30.2% |
| Other amounts payable | 47/48 | €7,383 | €7,152 | -€231 | -3.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €183,051 | €178,805 | -€4,246 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,350 | €2,677 | +€1,327 | +98.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,860 | €0 | +€5,860 | |
| Other operating charges | 640/8 | €7,875 | €11,029 | +€3,154 | +40.0% |
| Gross operating margin | 9900 | €179,102 | €207,601 | +€28,499 | +15.9% |
| Operating profit (loss) | 9901 | -€7,316 | €15,089 | +€22,405 | |
| Financial income | 75/76B | €8,573 | €8,414 | -€160 | -1.9% |
| Recurring financial income | 75 | €8,573 | €8,414 | -€160 | -1.9% |
| Financial charges | 65/66B | €25,544 | €21,118 | -€4,426 | -17.3% |
| Recurring financial charges | 65 | €25,544 | €21,118 | -€4,426 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | -€24,287 | €2,385 | +€26,672 | |
| Income taxes | 67/77 | €26,205 | €6,233 | -€19,972 | -76.2% |
| Profit (loss) for the period | 9904 | -€50,492 | -€3,848 | +€46,644 | +92.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,492 | -€3,848 | +€46,644 | +92.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.