PIERRE WANGEN: 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 WANGEN
Largest movements
- Cash +€54,199
up €54,199 (+74.1%), from €73,168 to €127,367
mainly Net result for the year (+€150,054) and Depreciation (+€53,964)
- Tangible fixed assets -€35,964
down €35,964 (-15.4%), from €234,153 to €198,189
of which Furniture and vehicles: -€21,455
- Intangible fixed assets -€18,000
down €18,000 (-66.7%), from €27,000 to €9,000
- Receivables within one year +€17,146
up €17,146 (+299%), from €5,736 to €22,881
of which Other amounts receivable: +€17,453
- Reserves +€63,135
up €63,135 (+45.1%), from €139,860 to €202,995
- Other debts -€52,359
down €52,359 (-37.6%), from €139,278 to €86,919
- Tax, wage and social debts +€6,630
up €6,630 (+15.3%), from €43,299 to €49,929
of which Taxes: +€9,805
- Gross operating margin +€42,412
up €42,412 (+18.5%), from €229,300 to €271,712
- Taxes +€19,504
up €19,504 (+47.3%), from €41,275 to €60,779
- Depreciation +€13,744
up €13,744 (+34.2%), from €40,219 to €53,964
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 | €343,748 | €360,388 | +€16,640 | +4.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €261,153 | €207,189 | -€53,964 | -20.7% |
| Intangible fixed assets | 21 | €27,000 | €9,000 | -€18,000 | -66.7% |
| Tangible fixed assets | 22/27 | €234,153 | €198,189 | -€35,964 | -15.4% |
| Land and buildings | 22 | €125,167 | €112,371 | -€12,796 | -10.2% |
| Plant, machinery and equipment | 23 | €12,847 | €11,133 | -€1,714 | -13.3% |
| Furniture and vehicles | 24 | €96,139 | €74,685 | -€21,455 | -22.3% |
| Current assets | 29/58 | €82,595 | €153,199 | +€70,604 | +85.5% |
| Amounts receivable within one year | 40/41 | €5,736 | €22,881 | +€17,146 | +299% |
| Trade receivables | 40 | €632 | €325 | -€307 | -48.6% |
| Other amounts receivable | 41 | €5,103 | €22,556 | +€17,453 | +342% |
| Cash at bank and in hand | 54/58 | €73,168 | €127,367 | +€54,199 | +74.1% |
| Deferred charges and accrued income | 490/1 | €3,691 | €2,951 | -€740 | -20.1% |
| Total equity and liabilities | 10/49 | €343,748 | €360,388 | +€16,640 | +4.8% |
| Equity | 10/15 | €158,460 | €221,595 | +€63,135 | +39.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €139,860 | €202,995 | +€63,135 | +45.1% |
| Distributable reserves | 133 | €139,860 | €202,995 | +€63,135 | +45.1% |
| Amounts payable | 17/49 | €185,288 | €138,792 | -€46,495 | -25.1% |
| Amounts payable within one year | 42/48 | €183,631 | €137,172 | -€46,460 | -25.3% |
| Trade debts | 44 | €1,055 | €324 | -€731 | -69.3% |
| Suppliers | 440/4 | €1,055 | €324 | -€731 | -69.3% |
| Taxes, remuneration and social security | 45 | €43,299 | €49,929 | +€6,630 | +15.3% |
| Taxes | 450/3 | €40,124 | €49,929 | +€9,805 | +24.4% |
| Remuneration and social security | 454/9 | €3,175 | - | -€3,175 | |
| Other amounts payable | 47/48 | €139,278 | €86,919 | -€52,359 | -37.6% |
| Accrued charges and deferred income | 492/3 | €1,656 | €1,621 | -€35 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,219 | €53,964 | +€13,744 | +34.2% |
| Other operating charges | 640/8 | €3,135 | €2,537 | -€597 | -19.1% |
| Gross operating margin | 9900 | €229,300 | €271,712 | +€42,412 | +18.5% |
| Operating profit (loss) | 9901 | €185,946 | €215,210 | +€29,265 | +15.7% |
| Financial income | 75/76B | €108 | €178 | +€70 | +65.3% |
| Recurring financial income | 75 | €108 | €178 | +€70 | +65.3% |
| Financial charges | 65/66B | €5,501 | €4,555 | -€945 | -17.2% |
| Recurring financial charges | 65 | €5,501 | €4,555 | -€945 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €180,553 | €210,833 | +€30,280 | +16.8% |
| Income taxes | 67/77 | €41,275 | €60,779 | +€19,504 | +47.3% |
| Profit (loss) for the period | 9904 | €139,278 | €150,054 | +€10,776 | +7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €139,278 | €150,054 | +€10,776 | +7.7% |
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 13 October 2026 via checked.be.