Pierre Daems: 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.
Pierre Daems
Largest movements
- Cash -€13,250
down €13,250 (-91.7%), from €14,449 to €1,198
mainly Net result for the year (-€34,998) and Current portion of long-term debt (-€3,417)
- Tangible fixed assets -€3,830
down €3,830 (-77.0%), from €4,975 to €1,145
of which Furniture and vehicles: -€3,448
- Receivables within one year +€2,156
up €2,156 (+24.8%), from €8,693 to €10,850
of which Other amounts receivable: +€2,779
- Deferred charges and accrued income -€888
down €888 (-35.8%), from €2,479 to €1,590
- Intangible fixed assets -€883
down €883 (-18.2%), from €4,854 to €3,971
- Profit (loss) carried forward -€34,998
down €34,998 (-30.8%), from -€113,759 to -€148,757
- Debts after one year +€16,050
new in 2025: €16,050
- Trade debts +€4,370
up €4,370 (+7.1%), from €61,940 to €66,309
- Current portion of long-term debt -€3,417
no longer reported in 2025 (was €3,417)
- Other debts +€1,763
up €1,763 (+43.4%), from €4,062 to €5,825
- Gross operating margin -€38,423
down €38,423, from €9,335 to -€29,088
- Depreciation -€2,591
down €2,591 (-35.5%), from €7,305 to €4,714
- Taxes +€436
up €436 (+262%), from €166 to €602
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 | €35,950 | €19,254 | -€16,695 | -46.4% |
| Fixed assets | 21/28 | €10,329 | €5,616 | -€4,714 | -45.6% |
| Intangible fixed assets | 21 | €4,854 | €3,971 | -€883 | -18.2% |
| Tangible fixed assets | 22/27 | €4,975 | €1,145 | -€3,830 | -77.0% |
| Land and buildings | 22 | €0 | €0 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,526 | €1,145 | -€382 | -25.0% |
| Furniture and vehicles | 24 | €3,448 | - | -€3,448 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €25,620 | €13,638 | -€11,982 | -46.8% |
| Amounts receivable within one year | 40/41 | €8,693 | €10,850 | +€2,156 | +24.8% |
| Trade receivables | 40 | €8,693 | €8,070 | -€623 | -7.2% |
| Other amounts receivable | 41 | - | €2,779 | +€2,779 | |
| Cash at bank and in hand | 54/58 | €14,449 | €1,198 | -€13,250 | -91.7% |
| Deferred charges and accrued income | 490/1 | €2,479 | €1,590 | -€888 | -35.8% |
| Total equity and liabilities | 10/49 | €35,950 | €19,254 | -€16,695 | -46.4% |
| Equity | 10/15 | -€58,192 | -€93,190 | -€34,998 | -60.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €36,975 | €36,975 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €35,116 | €36,975 | +€1,859 | +5.3% |
| Profit (loss) carried forward | 14 | -€113,759 | -€148,757 | -€34,998 | -30.8% |
| Amounts payable | 17/49 | €94,141 | €112,444 | +€18,302 | +19.4% |
| Amounts payable after more than one year | 17 | - | €16,050 | +€16,050 | |
| Financial debts | 170/4 | - | €16,050 | +€16,050 | |
| Amounts payable within one year | 42/48 | €94,141 | €96,394 | +€2,252 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €3,417 | - | -€3,417 | |
| Trade debts | 44 | €61,940 | €66,309 | +€4,370 | +7.1% |
| Suppliers | 440/4 | €61,940 | €66,309 | +€4,370 | +7.1% |
| Advances received on contracts in progress | 46 | €23,528 | €23,528 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,194 | €732 | -€463 | -38.7% |
| Taxes | 450/3 | €1,194 | €732 | -€463 | -38.7% |
| Other amounts payable | 47/48 | €4,062 | €5,825 | +€1,763 | +43.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,305 | €4,714 | -€2,591 | -35.5% |
| Other operating charges | 640/8 | €239 | €444 | +€205 | +85.8% |
| Gross operating margin | 9900 | €9,335 | -€29,088 | -€38,423 | |
| Operating profit (loss) | 9901 | €1,791 | -€34,245 | -€36,037 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €151 | €151 | +€0 | +0.2% |
| Recurring financial charges | 65 | €151 | €151 | +€0 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €1,641 | -€34,396 | -€36,037 | |
| Income taxes | 67/77 | €166 | €602 | +€436 | +262% |
| Profit (loss) for the period | 9904 | €1,475 | -€34,998 | -€36,473 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,475 | -€34,998 | -€36,473 |
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.