PIETER LECOMTE: 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 LECOMTE
Largest movements
- Receivables within one year -€40,305
down €40,305 (-68.4%), from €58,912 to €18,608
of which Other amounts receivable: -€35,485
- Cash -€31,912
down €31,912 (-96.5%), from €33,071 to €1,159
mainly Other debts (-€90,777) and Debts after one year (-€34,202)
- Tangible fixed assets -€18,898
down €18,898 (-5.4%), from €352,880 to €333,982
of which Furniture and vehicles: -€14,365
- Other debts -€90,777
down €90,777 (-44.6%), from €203,439 to €112,661
- Debts after one year -€34,202
down €34,202 (-12.3%), from €277,362 to €243,160
- Reserves +€29,258
up €29,258 (+63.0%), from €46,439 to €75,696
of which Distributable reserves: +€29,258
- Tax, wage and social debts +€4,644
up €4,644 (+12097.6%), from €38 to €4,683
- Gross operating margin +€26,798
up €26,798 (+47.8%), from €56,041 to €82,839
- Taxes +€13,833
up €13,833 (+467.3%), from €2,961 to €16,794
- Other operating charges -€4,428
down €4,428 (-80.6%), from €5,495 to €1,067
- Depreciation -€3,575
down €3,575 (-12.6%), from €28,408 to €24,834
- Financial charges +€2,497
up €2,497 (+29.7%), from €8,410 to €10,907
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 | €445,339 | €354,143 | -€91,197 | -20.5% |
| Fixed assets | 21/28 | €352,880 | €333,982 | -€18,898 | -5.4% |
| Tangible fixed assets | 22/27 | €352,880 | €333,982 | -€18,898 | -5.4% |
| Land and buildings | 22 | €272,951 | €265,522 | -€7,428 | -2.7% |
| Plant, machinery and equipment | 23 | €1,852 | €1,407 | -€445 | -24.0% |
| Furniture and vehicles | 24 | €57,919 | €43,553 | -€14,365 | -24.8% |
| Other tangible fixed assets | 26 | €20,159 | €23,499 | +€3,340 | +16.6% |
| Current assets | 29/58 | €92,460 | €20,161 | -€72,299 | -78.2% |
| Amounts receivable within one year | 40/41 | €58,912 | €18,608 | -€40,305 | -68.4% |
| Trade receivables | 40 | €23,284 | €18,465 | -€4,819 | -20.7% |
| Other amounts receivable | 41 | €35,628 | €143 | -€35,485 | -99.6% |
| Cash at bank and in hand | 54/58 | €33,071 | €1,159 | -€31,912 | -96.5% |
| Deferred charges and accrued income | 490/1 | €476 | €394 | -€82 | -17.2% |
| Total equity and liabilities | 10/49 | €445,339 | €354,143 | -€91,197 | -20.5% |
| Equity | 10/15 | -€73,566 | -€44,308 | +€29,258 | +39.8% |
| Contributions | 10/11 | €86,763 | €86,763 | = | 0.0% |
| Reserves | 13 | €46,439 | €75,696 | +€29,258 | +63.0% |
| Non-distributable reserves | 130/1 | €3,755 | €3,755 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,755 | €3,755 | = | 0.0% |
| Distributable reserves | 133 | €42,684 | €71,941 | +€29,258 | +68.5% |
| Profit (loss) carried forward | 14 | -€206,767 | -€206,767 | = | 0.0% |
| Amounts payable | 17/49 | €518,905 | €398,451 | -€120,454 | -23.2% |
| Amounts payable after more than one year | 17 | €277,362 | €243,160 | -€34,202 | -12.3% |
| Financial debts | 170/4 | €277,362 | €243,160 | -€34,202 | -12.3% |
| Amounts payable within one year | 42/48 | €238,666 | €152,663 | -€86,003 | -36.0% |
| Current portion of amounts payable after more than one year | 42 | €33,554 | €34,202 | +€648 | +1.9% |
| Trade debts | 44 | €1,636 | €1,118 | -€518 | -31.6% |
| Suppliers | 440/4 | €1,636 | €1,118 | -€518 | -31.6% |
| Taxes, remuneration and social security | 45 | €38 | €4,683 | +€4,644 | +12097.6% |
| Taxes | 450/3 | €38 | €4,683 | +€4,644 | +12097.6% |
| Other amounts payable | 47/48 | €203,439 | €112,661 | -€90,777 | -44.6% |
| Accrued charges and deferred income | 492/3 | €2,877 | €2,627 | -€250 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,408 | €24,834 | -€3,575 | -12.6% |
| Other operating charges | 640/8 | €5,495 | €1,067 | -€4,428 | -80.6% |
| Gross operating margin | 9900 | €56,041 | €82,839 | +€26,798 | +47.8% |
| Operating profit (loss) | 9901 | €22,138 | €56,938 | +€34,801 | +157.2% |
| Financial income | 75/76B | €106 | €20 | -€85 | -80.6% |
| Recurring financial income | 75 | €106 | €20 | -€85 | -80.6% |
| Financial charges | 65/66B | €8,410 | €10,907 | +€2,497 | +29.7% |
| Recurring financial charges | 65 | €8,410 | €10,907 | +€2,497 | +29.7% |
| Profit (loss) for the period before taxes | 9903 | €13,833 | €46,051 | +€32,218 | +232.9% |
| Income taxes | 67/77 | €2,961 | €16,794 | +€13,833 | +467.3% |
| Profit (loss) for the period | 9904 | €10,873 | €29,258 | +€18,385 | +169.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,873 | €29,258 | +€18,385 | +169.1% |
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 10 October 2026 via checked.be.