Pieter Jacques: 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 Jacques
Largest movements
- Tangible fixed assets -€11,547
down €11,547 (-4.2%), from €274,668 to €263,121
of which Land and buildings: -€7,347
- Debts after one year -€18,398
down €18,398 (-7.9%), from €232,816 to €214,418
of which Financial debts: -€18,398
- Current portion of long-term debt +€9,199
new in 2025: €9,199
- Other operating charges -€25,024
down €25,024 (-83.3%), from €30,046 to €5,021
- Depreciation +€11,345
up €11,345 (+83.1%), from €13,655 to €25,000
- Financial charges +€5,783
up €5,783 (+593%), from €975 to €6,757
- Gross operating margin -€2,811
down €2,811 (-6.8%), from €41,474 to €38,663
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 | €311,274 | €301,443 | -€9,831 | -3.2% |
| Fixed assets | 21/28 | €274,868 | €263,321 | -€11,547 | -4.2% |
| Tangible fixed assets | 22/27 | €274,668 | €263,121 | -€11,547 | -4.2% |
| Land and buildings | 22 | €258,997 | €251,650 | -€7,347 | -2.8% |
| Furniture and vehicles | 24 | €15,671 | €11,471 | -€4,200 | -26.8% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €36,406 | €38,122 | +€1,716 | +4.7% |
| Amounts receivable within one year | 40/41 | €4,767 | €3,692 | -€1,075 | -22.6% |
| Trade receivables | 40 | €4,767 | €3,692 | -€1,075 | -22.6% |
| Cash at bank and in hand | 54/58 | €31,639 | €34,430 | +€2,791 | +8.8% |
| Total equity and liabilities | 10/49 | €311,274 | €301,443 | -€9,831 | -3.2% |
| Equity | 10/15 | €72,264 | €74,072 | +€1,808 | +2.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €33,226 | €35,034 | +€1,808 | +5.4% |
| Non-distributable reserves | 130/1 | €603 | €603 | = | 0.0% |
| Reserves not available under the articles | 1311 | €603 | €603 | = | 0.0% |
| Distributable reserves | 133 | €32,622 | €34,430 | +€1,808 | +5.5% |
| Profit (loss) carried forward | 14 | €19,038 | €19,038 | = | 0.0% |
| Amounts payable | 17/49 | €239,011 | €227,371 | -€11,639 | -4.9% |
| Amounts payable after more than one year | 17 | €232,816 | €214,418 | -€18,398 | -7.9% |
| Financial debts | 170/4 | €232,561 | €214,163 | -€18,398 | -7.9% |
| Other amounts payable | 178/9 | €255 | €255 | = | 0.0% |
| Amounts payable within one year | 42/48 | €6,195 | €12,954 | +€6,759 | +109% |
| Current portion of amounts payable after more than one year | 42 | - | €9,199 | +€9,199 | |
| Trade debts | 44 | €1,669 | €382 | -€1,287 | -77.1% |
| Suppliers | 440/4 | €1,669 | €382 | -€1,287 | -77.1% |
| Taxes, remuneration and social security | 45 | €2,605 | €1,466 | -€1,139 | -43.7% |
| Taxes | 450/3 | €2,605 | €1,466 | -€1,139 | -43.7% |
| Other amounts payable | 47/48 | €1,921 | €1,907 | -€14 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,655 | €25,000 | +€11,345 | +83.1% |
| Other operating charges | 640/8 | €30,046 | €5,021 | -€25,024 | -83.3% |
| Gross operating margin | 9900 | €41,474 | €38,663 | -€2,811 | -6.8% |
| Operating profit (loss) | 9901 | -€2,226 | €8,642 | +€10,868 | |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €975 | €6,757 | +€5,783 | +593% |
| Recurring financial charges | 65 | €975 | €6,757 | +€5,783 | +593% |
| Profit (loss) for the period before taxes | 9903 | -€3,201 | €1,895 | +€5,095 | |
| Income taxes | 67/77 | €262 | €87 | -€175 | -66.9% |
| Profit (loss) for the period | 9904 | -€3,462 | €1,808 | +€5,270 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,462 | €1,808 | +€5,270 |
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 30 October 2026 via checked.be.