PETER PAULISSEN: 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.
PETER PAULISSEN
Largest movements
- Receivables within one year -€45,849
down €45,849 (-30.1%), from €152,265 to €106,416
of which Other amounts receivable: -€53,576
- Tangible fixed assets -€8,717
down €8,717 (-4.4%), from €195,968 to €187,251
of which Furniture and vehicles: -€15,667
- Profit (loss) carried forward -€20,040
down €20,040 (-6,255%), from -€320 to -€20,361
- Debts after one year -€11,944
down €11,944 (-6.0%), from €200,171 to €188,227
- Current portion of long-term debt -€8,380
down €8,380 (-40.2%), from €20,857 to €12,477
- Reserves -€7,075
down €7,075 (-7.2%), from €97,624 to €90,549
of which Distributable reserves: -€7,075
- Gross operating margin -€28,463
down €28,463 (-85.5%), from €33,283 to €4,819
- Depreciation -€4,354
down €4,354 (-21.6%), from €20,186 to €15,833
- Other operating charges +€3,447
up €3,447 (+223%), from €1,543 to €4,990
- Financial charges -€676
down €676 (-4.5%), from €15,023 to €14,348
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 | €348,233 | €300,231 | -€48,002 | -13.8% |
| Fixed assets | 21/28 | €195,968 | €187,251 | -€8,717 | -4.4% |
| Tangible fixed assets | 22/27 | €195,968 | €187,251 | -€8,717 | -4.4% |
| Land and buildings | 22 | - | €6,977 | +€6,977 | |
| Plant, machinery and equipment | 23 | €27 | - | -€27 | |
| Furniture and vehicles | 24 | €195,941 | €180,274 | -€15,667 | -8.0% |
| Current assets | 29/58 | €152,265 | €112,980 | -€39,285 | -25.8% |
| Stocks and contracts in progress | 3 | - | €3,172 | +€3,172 | |
| Stocks | 30/36 | - | €3,172 | +€3,172 | |
| Amounts receivable within one year | 40/41 | €152,265 | €106,416 | -€45,849 | -30.1% |
| Trade receivables | 40 | €417 | €8,144 | +€7,727 | +1,853% |
| Other amounts receivable | 41 | €151,848 | €98,272 | -€53,576 | -35.3% |
| Cash at bank and in hand | 54/58 | - | €3,392 | +€3,392 | |
| Total equity and liabilities | 10/49 | €348,233 | €300,231 | -€48,002 | -13.8% |
| Equity | 10/15 | €115,903 | €88,788 | -€27,115 | -23.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €97,624 | €90,549 | -€7,075 | -7.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €73 | €73 | = | 0.0% |
| Distributable reserves | 133 | €95,690 | €88,616 | -€7,075 | -7.4% |
| Profit (loss) carried forward | 14 | -€320 | -€20,361 | -€20,040 | -6,255% |
| Amounts payable | 17/49 | €232,329 | €211,442 | -€20,887 | -9.0% |
| Amounts payable after more than one year | 17 | €200,171 | €188,227 | -€11,944 | -6.0% |
| Financial debts | 170/4 | €200,171 | €188,227 | -€11,944 | -6.0% |
| Amounts payable within one year | 42/48 | €32,158 | €23,215 | -€8,943 | -27.8% |
| Current portion of amounts payable after more than one year | 42 | €20,857 | €12,477 | -€8,380 | -40.2% |
| Financial debts | 43 | €2,258 | - | -€2,258 | |
| Credit institutions | 430/8 | €1,285 | - | -€1,285 | |
| Other loans | 439 | €974 | - | -€974 | |
| Trade debts | 44 | - | €3,161 | +€3,161 | |
| Suppliers | 440/4 | - | €3,161 | +€3,161 | |
| Taxes, remuneration and social security | 45 | €9,043 | €7,578 | -€1,465 | -16.2% |
| Taxes | 450/3 | €9,043 | €7,578 | -€1,465 | -16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,186 | €15,833 | -€4,354 | -21.6% |
| Other operating charges | 640/8 | €1,543 | €4,990 | +€3,447 | +223% |
| Gross operating margin | 9900 | €33,283 | €4,819 | -€28,463 | -85.5% |
| Operating profit (loss) | 9901 | €11,553 | -€16,003 | -€27,557 | |
| Financial income | 75/76B | €3,193 | €3,236 | +€43 | +1.4% |
| Recurring financial income | 75 | €3,193 | €3,236 | +€43 | +1.4% |
| Financial charges | 65/66B | €15,023 | €14,348 | -€676 | -4.5% |
| Recurring financial charges | 65 | €15,023 | €14,348 | -€676 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | -€277 | -€27,115 | -€26,838 | -9,684% |
| Income taxes | 67/77 | €35 | - | -€35 | |
| Profit (loss) for the period | 9904 | -€312 | -€27,115 | -€26,803 | -8,598% |
| Profit (loss) for the period to be appropriated | 9905 | -€312 | -€27,115 | -€26,803 | -8,598% |
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 18 October 2026 via checked.be.