Piet Everaert: 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.
Piet Everaert
Largest movements
- Receivables within one year +€62,795
up €62,795 (+47.2%), from €133,093 to €195,889
of which Trade receivables: +€61,884
- Cash +€51,818
up €51,818 (+4.6%), from €1.1m to €1.2m
mainly Net result for the year (+€77,073) and Tax, wage and social debts (+€23,911)
- Reserves +€77,060
up €77,060 (+6.0%), from €1.3m to €1.4m
of which Distributable reserves: +€77,060
- Tax, wage and social debts +€23,911
up €23,911 (+476%), from €5,024 to €28,935
- Financial income +€8,469
up €8,469 (+45.2%), from €18,724 to €27,193
- Financial charges -€7,779
down €7,779 (-95.4%), from €8,156 to €377
- Gross operating margin +€4,313
up €4,313 (+5.1%), from €84,598 to €88,911
- Taxes +€3,744
up €3,744 (+16.4%), from €22,852 to €26,597
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 | €1,305,988 | €1,406,484 | +€100,496 | +7.7% |
| Fixed assets | 21/28 | €53,210 | €39,092 | -€14,117 | -26.5% |
| Tangible fixed assets | 22/27 | €48,430 | €39,092 | -€9,338 | -19.3% |
| Furniture and vehicles | 24 | €43,330 | €33,992 | -€9,338 | -21.6% |
| Other tangible fixed assets | 26 | €5,100 | €5,100 | = | 0.0% |
| Financial fixed assets | 28 | €4,779 | - | -€4,779 | |
| Current assets | 29/58 | €1,252,778 | €1,367,391 | +€114,613 | +9.1% |
| Amounts receivable within one year | 40/41 | €133,093 | €195,889 | +€62,795 | +47.2% |
| Trade receivables | 40 | €128,461 | €190,345 | +€61,884 | +48.2% |
| Other amounts receivable | 41 | €4,632 | €5,544 | +€912 | +19.7% |
| Cash at bank and in hand | 54/58 | €1,119,685 | €1,171,503 | +€51,818 | +4.6% |
| Total equity and liabilities | 10/49 | €1,305,988 | €1,406,484 | +€100,496 | +7.7% |
| Equity | 10/15 | €1,300,177 | €1,377,250 | +€77,073 | +5.9% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €1,287,653 | €1,364,713 | +€77,060 | +6.0% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €1,285,778 | €1,362,838 | +€77,060 | +6.0% |
| Profit (loss) carried forward | 14 | €24 | €37 | +€13 | +55.8% |
| Amounts payable | 17/49 | €5,811 | €29,233 | +€23,422 | +403% |
| Amounts payable within one year | 42/48 | €5,811 | €29,233 | +€23,422 | +403% |
| Trade debts | 44 | €787 | €299 | -€489 | -62.1% |
| Suppliers | 440/4 | €787 | €299 | -€489 | -62.1% |
| Taxes, remuneration and social security | 45 | €5,024 | €28,935 | +€23,911 | +476% |
| Taxes | 450/3 | €5,024 | €28,935 | +€23,911 | +476% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,576 | €11,058 | -€518 | -4.5% |
| Other operating charges | 640/8 | €1,303 | €998 | -€305 | -23.4% |
| Gross operating margin | 9900 | €84,598 | €88,911 | +€4,313 | +5.1% |
| Operating profit (loss) | 9901 | €71,718 | €76,854 | +€5,136 | +7.2% |
| Financial income | 75/76B | €18,724 | €27,193 | +€8,469 | +45.2% |
| Recurring financial income | 75 | €18,724 | €27,193 | +€8,469 | +45.2% |
| Financial charges | 65/66B | €8,156 | €377 | -€7,779 | -95.4% |
| Recurring financial charges | 65 | €8,156 | €377 | -€7,779 | -95.4% |
| Profit (loss) for the period before taxes | 9903 | €82,286 | €103,670 | +€21,384 | +26.0% |
| Income taxes | 67/77 | €22,852 | €26,597 | +€3,744 | +16.4% |
| Profit (loss) for the period | 9904 | €59,433 | €77,073 | +€17,640 | +29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €59,433 | €77,073 | +€17,640 | +29.7% |
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 26 October 2026 via checked.be.