Piet David: 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.
Piet David
Largest movements
- Cash +€56,466
up €56,466 (+2601.0%), from €2,171 to €58,637
mainly Net result for the year (+€41,171) and Investment in fixed assets (net) (+€21,439)
- Tangible fixed assets -€22,473
down €22,473 (-92.5%), from €24,295 to €1,823
of which Land and buildings: -€17,264
- Receivables within one year +€8,372
up €8,372 (+86.6%), from €9,664 to €18,036
of which Other amounts receivable: +€13,913
- Profit (loss) carried forward +€41,171
up €41,171 (+72.7%), from -€56,666 to -€15,495
- Tax, wage and social debts +€2,312
new in 2025: €2,312
- Gross operating margin +€49,187
up €49,187, from -€9,071 to €40,117
- Financial income +€9,971
up €9,971 (+27302.5%), from €37 to €10,007
of which Non-recurring financial income: +€9,726
- Taxes +€5,100
new in 2025: €5,100
- Depreciation -€2,834
down €2,834 (-73.3%), from €3,868 to €1,034
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 | €36,370 | €78,600 | +€42,230 | +116.1% |
| Fixed assets | 21/28 | €24,295 | €1,823 | -€22,473 | -92.5% |
| Tangible fixed assets | 22/27 | €24,295 | €1,823 | -€22,473 | -92.5% |
| Land and buildings | 22 | €17,264 | €0 | -€17,264 | -100.0% |
| Furniture and vehicles | 24 | €5,918 | €1,080 | -€4,837 | -81.7% |
| Other tangible fixed assets | 26 | €1,113 | €742 | -€371 | -33.3% |
| Current assets | 29/58 | €12,075 | €76,778 | +€64,703 | +535.9% |
| Amounts receivable within one year | 40/41 | €9,664 | €18,036 | +€8,372 | +86.6% |
| Trade receivables | 40 | €7,345 | €1,805 | -€5,540 | -75.4% |
| Other amounts receivable | 41 | €2,319 | €16,231 | +€13,913 | +600.0% |
| Cash at bank and in hand | 54/58 | €2,171 | €58,637 | +€56,466 | +2601.0% |
| Deferred charges and accrued income | 490/1 | €240 | €104 | -€135 | -56.4% |
| Total equity and liabilities | 10/49 | €36,370 | €78,600 | +€42,230 | +116.1% |
| Equity | 10/15 | €33,334 | €74,505 | +€41,171 | +123.5% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,666 | -€15,495 | +€41,171 | +72.7% |
| Amounts payable | 17/49 | €3,036 | €4,095 | +€1,059 | +34.9% |
| Amounts payable within one year | 42/48 | €2,586 | €4,095 | +€1,509 | +58.3% |
| Trade debts | 44 | €2,138 | €1,783 | -€355 | -16.6% |
| Suppliers | 440/4 | €2,138 | €1,783 | -€355 | -16.6% |
| Taxes, remuneration and social security | 45 | - | €2,312 | +€2,312 | |
| Taxes | 450/3 | - | €2,312 | +€2,312 | |
| Other amounts payable | 47/48 | €448 | €0 | -€448 | -100.0% |
| Accrued charges and deferred income | 492/3 | €450 | €0 | -€450 | -100.0% |
| Non-recurring operating income | 76A | - | €29,829 | +€29,829 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,868 | €1,034 | -€2,834 | -73.3% |
| Other operating charges | 640/8 | €577 | €702 | +€125 | +21.7% |
| Gross operating margin | 9900 | -€9,071 | €40,117 | +€49,187 | |
| Operating profit (loss) | 9901 | -€13,516 | €38,380 | +€51,896 | |
| Financial income | 75/76B | €37 | €10,007 | +€9,971 | +27302.5% |
| Recurring financial income | 75 | €37 | €281 | +€245 | +670.0% |
| Non-recurring financial income | 76B | - | €9,726 | +€9,726 | |
| Financial charges | 65/66B | €1,940 | €2,117 | +€177 | +9.1% |
| Recurring financial charges | 65 | €1,940 | €2,117 | +€177 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | -€15,419 | €46,271 | +€61,690 | |
| Income taxes | 67/77 | - | €5,100 | +€5,100 | |
| Profit (loss) for the period | 9904 | -€15,419 | €41,171 | +€56,590 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,419 | €41,171 | +€56,590 |
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 8 October 2026 via checked.be.