PERUSE: 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.
PERUSE
Largest movements
- Cash -€56,458
down €56,458 (-64.7%), from €87,301 to €30,843
mainly Net result for the year (-€35,433) and Stocks and contracts (-€26,439)
- Stocks and contracts +€26,439
up €26,439 (+11.0%), from €241,303 to €267,742
- Receivables within one year +€5,482
up €5,482 (+3.5%), from €157,051 to €162,533
of which Trade receivables: +€10,452
- Reserves -€35,433
down €35,433 (-35.6%), from €99,642 to €64,209
- Trade debts +€11,555
up €11,555 (+13.0%), from €89,216 to €100,771
- Gross operating margin -€94,579
down €94,579, from €56,632 to -€37,946
- Taxes -€15,937
down €15,937, from €15,909 to -€28
- Write-downs +€2,139
up €2,139, from -€394 to €1,745
- Financial income -€1,755
down €1,755 (-22.1%), from €7,952 to €6,197
- Depreciation -€1,393
down €1,393 (-79.5%), from €1,752 to €358
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 | €489,809 | €465,902 | -€23,906 | -4.9% |
| Fixed assets | 21/28 | €0 | €857 | +€857 | |
| Tangible fixed assets | 22/27 | €0 | €857 | +€857 | |
| Furniture and vehicles | 24 | €0 | €857 | +€857 | |
| Current assets | 29/58 | €489,809 | €465,046 | -€24,763 | -5.1% |
| Stocks and contracts in progress | 3 | €241,303 | €267,742 | +€26,439 | +11.0% |
| Stocks | 30/36 | €241,303 | €267,742 | +€26,439 | +11.0% |
| Amounts receivable within one year | 40/41 | €157,051 | €162,533 | +€5,482 | +3.5% |
| Trade receivables | 40 | €50,598 | €61,050 | +€10,452 | +20.7% |
| Other amounts receivable | 41 | €106,453 | €101,483 | -€4,970 | -4.7% |
| Cash at bank and in hand | 54/58 | €87,301 | €30,843 | -€56,458 | -64.7% |
| Deferred charges and accrued income | 490/1 | €4,154 | €3,928 | -€226 | -5.4% |
| Total equity and liabilities | 10/49 | €489,809 | €465,902 | -€23,906 | -4.9% |
| Equity | 10/15 | €399,642 | €364,209 | -€35,433 | -8.9% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €99,642 | €64,209 | -€35,433 | -35.6% |
| Distributable reserves | 133 | €99,642 | €64,209 | -€35,433 | -35.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €90,166 | €101,693 | +€11,527 | +12.8% |
| Amounts payable within one year | 42/48 | €90,166 | €101,693 | +€11,527 | +12.8% |
| Trade debts | 44 | €89,216 | €100,771 | +€11,555 | +13.0% |
| Suppliers | 440/4 | €89,216 | €100,771 | +€11,555 | +13.0% |
| Taxes, remuneration and social security | 45 | €950 | €922 | -€28 | -3.0% |
| Taxes | 450/3 | €950 | €922 | -€28 | -3.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,752 | €358 | -€1,393 | -79.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€394 | €1,745 | +€2,139 | |
| Other operating charges | 640/8 | €1,465 | €1,102 | -€363 | -24.8% |
| Gross operating margin | 9900 | €56,632 | -€37,946 | -€94,579 | |
| Operating profit (loss) | 9901 | €53,810 | -€41,151 | -€94,961 | |
| Financial income | 75/76B | €7,952 | €6,197 | -€1,755 | -22.1% |
| Recurring financial income | 75 | €7,952 | €6,197 | -€1,755 | -22.1% |
| Financial charges | 65/66B | €308 | €507 | +€198 | +64.4% |
| Recurring financial charges | 65 | €308 | €507 | +€198 | +64.4% |
| Profit (loss) for the period before taxes | 9903 | €61,453 | -€35,461 | -€96,915 | |
| Income taxes | 67/77 | €15,909 | -€28 | -€15,937 | |
| Profit (loss) for the period | 9904 | €45,544 | -€35,433 | -€80,977 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,544 | -€35,433 | -€80,977 |
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 5 October 2026 via checked.be.