PIETER AERTS: 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.
PIETER AERTS
Largest movements
- Cash -€494,522
down €494,522 (-49.0%), from €1.0m to €514,877
mainly Investment in fixed assets (net) (-€292,294) and Net result for the year (-€237,048)
- Financial fixed assets +€210,593
up €210,593 (+58.6%), from €359,577 to €570,170
- Tangible fixed assets +€75,432
up €75,432 (+1,249%), from €6,038 to €81,470
- Current investments +€37,500
new in 2024: €37,500
- Profit (loss) carried forward -€237,048
down €237,048 (-27.8%), from €851,682 to €614,634
- Other debts +€81,350
up €81,350 (+13.4%), from €605,710 to €687,060
- Gross operating margin -€664,564
down €664,564, from €430,653 to -€233,911
- Taxes -€113,027
down €113,027 (-100%), from €113,027 to €0
- Financial income +€8,829
up €8,829 (+83.3%), from €10,605 to €19,434
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,675,920 | €1,510,943 | -€164,977 | -9.8% |
| Fixed assets | 21/28 | €365,615 | €651,640 | +€286,025 | +78.2% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €6,038 | €81,470 | +€75,432 | +1,249% |
| Furniture and vehicles | 24 | €6,038 | €81,470 | +€75,432 | +1,249% |
| Financial fixed assets | 28 | €359,577 | €570,170 | +€210,593 | +58.6% |
| Current assets | 29/58 | €1,310,305 | €859,303 | -€451,002 | -34.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €300,906 | €305,097 | +€4,191 | +1.4% |
| Trade receivables | 40 | €156 | €0 | -€156 | -100% |
| Other amounts receivable | 41 | €300,750 | €305,097 | +€4,347 | +1.4% |
| Current investments | 50/53 | - | €37,500 | +€37,500 | |
| Cash at bank and in hand | 54/58 | €1,009,399 | €514,877 | -€494,522 | -49.0% |
| Deferred charges and accrued income | 490/1 | - | €1,829 | +€1,829 | |
| Total equity and liabilities | 10/49 | €1,675,920 | €1,510,943 | -€164,977 | -9.8% |
| Equity | 10/15 | €947,216 | €710,168 | -€237,048 | -25.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €65,533 | €65,533 | = | 0.0% |
| Distributable reserves | 133 | €65,533 | €65,533 | = | 0.0% |
| Profit (loss) carried forward | 14 | €851,682 | €614,634 | -€237,048 | -27.8% |
| Amounts payable | 17/49 | €728,705 | €800,775 | +€72,070 | +9.9% |
| Amounts payable within one year | 42/48 | €728,461 | €800,585 | +€72,123 | +9.9% |
| Trade debts | 44 | €9,724 | €3,022 | -€6,702 | -68.9% |
| Suppliers | 440/4 | €9,724 | €3,022 | -€6,702 | -68.9% |
| Taxes, remuneration and social security | 45 | €113,027 | €110,503 | -€2,524 | -2.2% |
| Taxes | 450/3 | €113,027 | €110,503 | -€2,524 | -2.2% |
| Other amounts payable | 47/48 | €605,710 | €687,060 | +€81,350 | +13.4% |
| Accrued charges and deferred income | 492/3 | €244 | €191 | -€53 | -21.8% |
| Non-recurring operating income | 76A | - | €10,000 | +€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,839 | €6,269 | +€1,431 | +29.6% |
| Other operating charges | 640/8 | €0 | €2,236 | +€2,236 | |
| Gross operating margin | 9900 | €430,653 | -€233,911 | -€664,564 | |
| Operating profit (loss) | 9901 | €425,814 | -€242,416 | -€668,230 | |
| Financial income | 75/76B | €10,605 | €19,434 | +€8,829 | +83.3% |
| Recurring financial income | 75 | €10,605 | €19,434 | +€8,829 | +83.3% |
| Financial charges | 65/66B | €12,421 | €14,065 | +€1,644 | +13.2% |
| Recurring financial charges | 65 | €12,421 | €14,065 | +€1,644 | +13.2% |
| Profit (loss) for the period before taxes | 9903 | €423,998 | -€237,048 | -€661,045 | |
| Income taxes | 67/77 | €113,027 | €0 | -€113,027 | -100% |
| Profit (loss) for the period | 9904 | €310,971 | -€237,048 | -€548,018 | |
| Profit (loss) for the period to be appropriated | 9905 | €310,971 | -€237,048 | -€548,018 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.