Pic-à-dent: 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.
Pic-à-dent
Largest movements
- Cash +€59,338
up €59,338 (+44.5%), from €133,388 to €192,727
mainly Net result for the year (+€65,314) and Depreciation (+€45,973)
- Tangible fixed assets +€24,829
up €24,829 (+2.9%), from €857,134 to €881,963
of which Plant, machinery and equipment: +€21,489
- Reserves +€40,000
up €40,000 (+1,112%), from €3,596 to €43,596
- Trade debts +€29,639
up €29,639 (+175%), from €16,952 to €46,591
- Debts after one year -€29,275
down €29,275 (-5.3%), from €552,534 to €523,259
- Profit (loss) carried forward +€25,314
up €25,314 (+7.8%), from €325,492 to €350,807
- Tax, wage and social debts +€21,539
up €21,539 (+32.8%), from €65,725 to €87,263
of which Taxes: +€22,713
- Gross operating margin -€51,077
down €51,077 (-8.9%), from €572,308 to €521,232
- Staff costs +€20,022
up €20,022 (+5.9%), from €342,063 to €362,085
- Taxes -€16,422
down €16,422 (-34.9%), from €46,997 to €30,575
- Financial charges -€12,038
down €12,038 (-49.3%), from €24,434 to €12,397
of which Non-recurring financial charges: -€12,500
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 | €1,061,222 | €1,153,777 | +€92,556 | +8.7% |
| Fixed assets | 21/28 | €869,634 | €894,463 | +€24,829 | +2.9% |
| Tangible fixed assets | 22/27 | €857,134 | €881,963 | +€24,829 | +2.9% |
| Land and buildings | 22 | €762,218 | €770,800 | +€8,582 | +1.1% |
| Plant, machinery and equipment | 23 | €60,797 | €82,286 | +€21,489 | +35.3% |
| Furniture and vehicles | 24 | €13,576 | €11,993 | -€1,583 | -11.7% |
| Other tangible fixed assets | 26 | €20,543 | €16,884 | -€3,660 | -17.8% |
| Financial fixed assets | 28 | €12,500 | €12,500 | = | 0.0% |
| Current assets | 29/58 | €191,588 | €259,314 | +€67,726 | +35.4% |
| Stocks and contracts in progress | 3 | €2,505 | €3,652 | +€1,147 | +45.8% |
| Stocks | 30/36 | €2,505 | €3,652 | +€1,147 | +45.8% |
| Amounts receivable within one year | 40/41 | €50,005 | €55,567 | +€5,562 | +11.1% |
| Trade receivables | 40 | €25,305 | €10,932 | -€14,373 | -56.8% |
| Other amounts receivable | 41 | €24,700 | €44,635 | +€19,935 | +80.7% |
| Cash at bank and in hand | 54/58 | €133,388 | €192,727 | +€59,338 | +44.5% |
| Deferred charges and accrued income | 490/1 | €5,689 | €7,369 | +€1,679 | +29.5% |
| Total equity and liabilities | 10/49 | €1,061,222 | €1,153,777 | +€92,556 | +8.7% |
| Equity | 10/15 | €347,688 | €413,003 | +€65,314 | +18.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,596 | €43,596 | +€40,000 | +1,112% |
| Distributable reserves | 133 | €3,596 | €43,596 | +€40,000 | +1,112% |
| Profit (loss) carried forward | 14 | €325,492 | €350,807 | +€25,314 | +7.8% |
| Amounts payable | 17/49 | €713,533 | €740,774 | +€27,241 | +3.8% |
| Amounts payable after more than one year | 17 | €552,534 | €523,259 | -€29,275 | -5.3% |
| Financial debts | 170/4 | €552,534 | €523,259 | -€29,275 | -5.3% |
| Amounts payable within one year | 42/48 | €158,562 | €217,516 | +€58,954 | +37.2% |
| Current portion of amounts payable after more than one year | 42 | €57,537 | €58,676 | +€1,139 | +2.0% |
| Financial debts | 43 | - | €7,539 | +€7,539 | |
| Credit institutions | 430/8 | - | €7,539 | +€7,539 | |
| Trade debts | 44 | €16,952 | €46,591 | +€29,639 | +175% |
| Suppliers | 440/4 | €16,952 | €46,591 | +€29,639 | +175% |
| Taxes, remuneration and social security | 45 | €65,725 | €87,263 | +€21,539 | +32.8% |
| Taxes | 450/3 | €63,728 | €86,442 | +€22,713 | +35.6% |
| Remuneration and social security | 454/9 | €1,997 | €822 | -€1,175 | -58.8% |
| Other amounts payable | 47/48 | €18,349 | €17,446 | -€903 | -4.9% |
| Accrued charges and deferred income | 492/3 | €2,437 | - | -€2,437 | |
| Remuneration, social security and pensions | 62 | €342,063 | €362,085 | +€20,022 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,497 | €45,973 | +€5,476 | +13.5% |
| Other operating charges | 640/8 | €7,817 | €6,630 | -€1,187 | -15.2% |
| Gross operating margin | 9900 | €572,308 | €521,232 | -€51,077 | -8.9% |
| Operating profit (loss) | 9901 | €181,932 | €106,543 | -€75,388 | -41.4% |
| Financial income | 75/76B | €914 | €1,742 | +€828 | +90.5% |
| Recurring financial income | 75 | €914 | €1,742 | +€828 | +90.5% |
| Financial charges | 65/66B | €24,434 | €12,397 | -€12,038 | -49.3% |
| Recurring financial charges | 65 | €11,934 | €12,397 | +€462 | +3.9% |
| Non-recurring financial charges | 66B | €12,500 | - | -€12,500 | |
| Profit (loss) for the period before taxes | 9903 | €158,412 | €95,889 | -€62,523 | -39.5% |
| Income taxes | 67/77 | €46,997 | €30,575 | -€16,422 | -34.9% |
| Profit (loss) for the period | 9904 | €111,415 | €65,314 | -€46,100 | -41.4% |
| Profit (loss) for the period to be appropriated | 9905 | €111,415 | €65,314 | -€46,100 | -41.4% |
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 15 October 2026 via checked.be.