PIETER LINS: 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 LINS
Largest movements
- Tangible fixed assets -€26,665
down €26,665 (-8.2%), from €323,243 to €296,578
of which Land and buildings: -€18,318
- Receivables within one year +€9,507
up €9,507 (+133%), from €7,145 to €16,652
of which Other amounts receivable: +€9,037
- Cash -€5,468
down €5,468 (-64.0%), from €8,542 to €3,074
mainly Debts after one year (-€19,716) and Receivables within one year (-€9,507)
- Debts after one year -€19,716
down €19,716 (-7.7%), from €255,344 to €235,628
- Trade debts +€8,397
up €8,397 (+1,828%), from €459 to €8,856
- Current portion of long-term debt -€5,186
down €5,186 (-20.8%), from €24,902 to €19,716
- Gross operating margin -€11,102
down €11,102 (-24.4%), from €45,519 to €34,417
- Taxes -€3,712
down €3,712 (-78.7%), from €4,715 to €1,003
- Financial charges +€2,054
up €2,054 (+46.8%), from €4,389 to €6,443
- Depreciation +€1,024
up €1,024 (+4.0%), from €25,641 to €26,665
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 | €338,930 | €316,304 | -€22,626 | -6.7% |
| Fixed assets | 21/28 | €323,243 | €296,578 | -€26,665 | -8.2% |
| Tangible fixed assets | 22/27 | €323,243 | €296,578 | -€26,665 | -8.2% |
| Land and buildings | 22 | €301,430 | €283,113 | -€18,318 | -6.1% |
| Plant, machinery and equipment | 23 | €7,511 | €5,164 | -€2,347 | -31.2% |
| Furniture and vehicles | 24 | €14,301 | €8,301 | -€6,000 | -42.0% |
| Current assets | 29/58 | €15,687 | €19,726 | +€4,039 | +25.7% |
| Amounts receivable within one year | 40/41 | €7,145 | €16,652 | +€9,507 | +133% |
| Trade receivables | 40 | €7,145 | €7,615 | +€470 | +6.6% |
| Other amounts receivable | 41 | - | €9,037 | +€9,037 | |
| Cash at bank and in hand | 54/58 | €8,542 | €3,074 | -€5,468 | -64.0% |
| Total equity and liabilities | 10/49 | €338,930 | €316,304 | -€22,626 | -6.7% |
| Equity | 10/15 | €48,267 | €47,201 | -€1,066 | -2.2% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €41,267 | €41,267 | = | 0.0% |
| Distributable reserves | 133 | €41,267 | €41,267 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€1,066 | -€1,066 | |
| Amounts payable | 17/49 | €290,663 | €269,104 | -€21,559 | -7.4% |
| Amounts payable after more than one year | 17 | €255,344 | €235,628 | -€19,716 | -7.7% |
| Financial debts | 170/4 | €255,344 | €235,628 | -€19,716 | -7.7% |
| Amounts payable within one year | 42/48 | €35,319 | €33,475 | -€1,843 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €24,902 | €19,716 | -€5,186 | -20.8% |
| Trade debts | 44 | €459 | €8,856 | +€8,397 | +1,828% |
| Suppliers | 440/4 | €459 | €8,856 | +€8,397 | +1,828% |
| Taxes, remuneration and social security | 45 | €6,690 | €4,320 | -€2,370 | -35.4% |
| Taxes | 450/3 | €5,083 | €1,091 | -€3,992 | -78.5% |
| Remuneration and social security | 454/9 | €1,606 | €3,229 | +€1,623 | +101% |
| Other amounts payable | 47/48 | €3,267 | €583 | -€2,684 | -82.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,641 | €26,665 | +€1,024 | +4.0% |
| Other operating charges | 640/8 | €1,337 | €1,377 | +€41 | +3.1% |
| Gross operating margin | 9900 | €45,519 | €34,417 | -€11,102 | -24.4% |
| Operating profit (loss) | 9901 | €18,541 | €6,375 | -€12,167 | -65.6% |
| Financial income | 75/76B | €10 | €5 | -€5 | -48.8% |
| Recurring financial income | 75 | €10 | €5 | -€5 | -48.8% |
| Financial charges | 65/66B | €4,389 | €6,443 | +€2,054 | +46.8% |
| Recurring financial charges | 65 | €4,389 | €6,443 | +€2,054 | +46.8% |
| Profit (loss) for the period before taxes | 9903 | €14,162 | -€64 | -€14,226 | |
| Income taxes | 67/77 | €4,715 | €1,003 | -€3,712 | -78.7% |
| Profit (loss) for the period | 9904 | €9,448 | -€1,066 | -€10,514 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,448 | -€1,066 | -€10,514 |
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 20 October 2026 via checked.be.