PIETER JUNIUS: 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 JUNIUS
Largest movements
- Cash +€26,655
up €26,655 (+92.3%), from €28,871 to €55,526
mainly Net result for the year (+€39,979) and Depreciation (+€15,545)
- Receivables within one year +€22,942
up €22,942 (+66.6%), from €34,433 to €57,375
of which Trade receivables: +€23,856
- Tangible fixed assets -€3,552
down €3,552 (-17.0%), from €20,838 to €17,286
of which Leasing and similar rights: -€8,683
- Reserves +€23,336
up €23,336 (+50.3%), from €46,395 to €69,731
- Profit (loss) carried forward +€16,644
no longer reported in 2025 (was -€16,644)
- Trade debts +€9,111
up €9,111 (+79.4%), from €11,468 to €20,579
- Other debts +€3,736
up €3,736 (+11.1%), from €33,525 to €37,261
- Current portion of long-term debt -€2,866
down €2,866 (-63.9%), from €4,482 to €1,616
- Gross operating margin +€47,740
up €47,740 (+255%), from €18,738 to €66,478
- Depreciation -€5,413
down €5,413 (-25.8%), from €20,958 to €15,545
- Taxes +€3,534
up €3,534 (+1,707%), from €207 to €3,741
- Financial charges -€1,735
down €1,735 (-25.2%), from €6,878 to €5,143
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 | €84,142 | €130,187 | +€46,045 | +54.7% |
| Fixed assets | 21/28 | €20,838 | €17,286 | -€3,552 | -17.0% |
| Tangible fixed assets | 22/27 | €20,838 | €17,286 | -€3,552 | -17.0% |
| Plant, machinery and equipment | 23 | €8,294 | €2,657 | -€5,637 | -68.0% |
| Furniture and vehicles | 24 | €198 | €10,966 | +€10,768 | +5,438% |
| Leasing and similar rights | 25 | €12,346 | €3,663 | -€8,683 | -70.3% |
| Current assets | 29/58 | €63,304 | €112,901 | +€49,597 | +78.3% |
| Amounts receivable within one year | 40/41 | €34,433 | €57,375 | +€22,942 | +66.6% |
| Trade receivables | 40 | €22,133 | €45,989 | +€23,856 | +108% |
| Other amounts receivable | 41 | €12,300 | €11,386 | -€914 | -7.4% |
| Cash at bank and in hand | 54/58 | €28,871 | €55,526 | +€26,655 | +92.3% |
| Total equity and liabilities | 10/49 | €84,142 | €130,187 | +€46,045 | +54.7% |
| Equity | 10/15 | €30,751 | €70,731 | +€39,980 | +130% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €46,395 | €69,731 | +€23,336 | +50.3% |
| Distributable reserves | 133 | €46,395 | €69,731 | +€23,336 | +50.3% |
| Profit (loss) carried forward | 14 | -€16,644 | - | +€16,644 | |
| Amounts payable | 17/49 | €53,391 | €59,456 | +€6,065 | +11.4% |
| Amounts payable after more than one year | 17 | €1,616 | - | -€1,616 | |
| Financial debts | 170/4 | €1,616 | - | -€1,616 | |
| Amounts payable within one year | 42/48 | €51,775 | €59,456 | +€7,681 | +14.8% |
| Current portion of amounts payable after more than one year | 42 | €4,482 | €1,616 | -€2,866 | -63.9% |
| Trade debts | 44 | €11,468 | €20,579 | +€9,111 | +79.4% |
| Suppliers | 440/4 | €11,468 | €20,579 | +€9,111 | +79.4% |
| Taxes, remuneration and social security | 45 | €2,300 | - | -€2,300 | |
| Remuneration and social security | 454/9 | €2,300 | - | -€2,300 | |
| Other amounts payable | 47/48 | €33,525 | €37,261 | +€3,736 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,958 | €15,545 | -€5,413 | -25.8% |
| Other operating charges | 640/8 | €1,726 | €2,013 | +€287 | +16.6% |
| Non-recurring operating charges | 66A | - | €198 | +€198 | |
| Gross operating margin | 9900 | €18,738 | €66,478 | +€47,740 | +255% |
| Operating profit (loss) | 9901 | -€3,946 | €48,722 | +€52,668 | |
| Financial income | 75/76B | €13 | €141 | +€128 | +985% |
| Recurring financial income | 75 | €13 | €141 | +€128 | +985% |
| Financial charges | 65/66B | €6,878 | €5,143 | -€1,735 | -25.2% |
| Recurring financial charges | 65 | €6,878 | €5,143 | -€1,735 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | -€10,811 | €43,720 | +€54,531 | |
| Income taxes | 67/77 | €207 | €3,741 | +€3,534 | +1,707% |
| Profit (loss) for the period | 9904 | -€11,018 | €39,979 | +€50,997 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,018 | €39,979 | +€50,997 |
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 23 October 2026 via checked.be.