PIETER MORTIER: what changed
What changed
PIETER MORTIER
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€63,215
2024 · €66,448-€3,233
Equity
€598,731
2024 · €708,841-€110,110
Cash
€202,718
2024 · €522,803-€320,085
Balance sheet total
€791,121
2024 · €856,999-€65,879
Largest movements
Assets
- Cash -€320,085
down €320,085 (-61.2%), from €522,803 to €202,718
mainly Current investments (-€250,000) and Contributions, distributions and other (-€173,324)
- Current investments +€250,000
up €250,000 (+247%), from €101,240 to €351,240
Equity and liabilities
- Reserves -€110,110
down €110,110 (-16.0%), from €690,241 to €580,131
- Other debts +€39,436
up €39,436 (+27.9%), from €141,337 to €180,773
Income statement
- Financial income -€7,198
down €7,198 (-49.5%), from €14,548 to €7,350
- Gross operating margin +€3,937
up €3,937 (+4.9%), from €80,530 to €84,467
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€66,448
Gross operating margin
+€3,937
Depreciation
+€342
Other operating charges
-€35
Financial income
-€7,198
Financial charges
-€197
Taxes
-€83
Result 2025
€63,215
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€103,240
Investment
-€250,000
Financing
-€173,324
Cash 2024
€522,803
From operations (derived)
+€103,240
Net result for the year
+€63,215
Depreciation
+€1,023
Receivables within one year
-€5,229
Trade debts
+€5,049
Tax, wage and social debts
-€254
Other debts
+€39,436
Investment (derived)
-€250,000
Current investments
-€250,000
Financing
-€173,324
Contributions, distributions and other
-€173,324
Cash 2025
€202,718
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €856,999 | €791,121 | -€65,879 | -7.7% |
| Fixed assets | 21/28 | €2,693 | €1,670 | -€1,023 | -38.0% |
| Tangible fixed assets | 22/27 | €2,693 | €1,670 | -€1,023 | -38.0% |
| Furniture and vehicles | 24 | €2,693 | €1,670 | -€1,023 | -38.0% |
| Current assets | 29/58 | €854,306 | €789,450 | -€64,855 | -7.6% |
| Amounts receivable after more than one year | 29 | €200,000 | €200,000 | = | 0.0% |
| Other amounts receivable | 291 | €200,000 | €200,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €25,763 | €30,992 | +€5,229 | +20.3% |
| Trade receivables | 40 | €18,150 | €18,150 | = | 0.0% |
| Other amounts receivable | 41 | €7,613 | €12,842 | +€5,229 | +68.7% |
| Current investments | 50/53 | €101,240 | €351,240 | +€250,000 | +247% |
| Cash at bank and in hand | 54/58 | €522,803 | €202,718 | -€320,085 | -61.2% |
| Deferred charges and accrued income | 490/1 | €4,500 | €4,500 | = | 0.0% |
| Total equity and liabilities | 10/49 | €856,999 | €791,121 | -€65,879 | -7.7% |
| Equity | 10/15 | €708,841 | €598,731 | -€110,110 | -15.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €690,241 | €580,131 | -€110,110 | -16.0% |
| Distributable reserves | 133 | €690,241 | €580,131 | -€110,110 | -16.0% |
| Amounts payable | 17/49 | €148,158 | €192,389 | +€44,231 | +29.9% |
| Amounts payable within one year | 42/48 | €148,158 | €192,389 | +€44,231 | +29.9% |
| Trade debts | 44 | €2,094 | €7,143 | +€5,049 | +241% |
| Suppliers | 440/4 | €2,094 | €7,143 | +€5,049 | +241% |
| Taxes, remuneration and social security | 45 | €4,728 | €4,473 | -€254 | -5.4% |
| Taxes | 450/3 | €1,528 | €1,273 | -€254 | -16.6% |
| Remuneration and social security | 454/9 | €3,200 | €3,200 | = | 0.0% |
| Other amounts payable | 47/48 | €141,337 | €180,773 | +€39,436 | +27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,366 | €1,023 | -€342 | -25.1% |
| Other operating charges | 640/8 | €1,108 | €1,143 | +€35 | +3.1% |
| Gross operating margin | 9900 | €80,530 | €84,467 | +€3,937 | +4.9% |
| Operating profit (loss) | 9901 | €78,056 | €82,301 | +€4,245 | +5.4% |
| Financial income | 75/76B | €14,548 | €7,350 | -€7,198 | -49.5% |
| Recurring financial income | 75 | €14,548 | €7,350 | -€7,198 | -49.5% |
| Financial charges | 65/66B | €609 | €806 | +€197 | +32.3% |
| Recurring financial charges | 65 | €609 | €806 | +€197 | +32.3% |
| Profit (loss) for the period before taxes | 9903 | €91,995 | €88,845 | -€3,150 | -3.4% |
| Income taxes | 67/77 | €25,548 | €25,631 | +€83 | +0.3% |
| Profit (loss) for the period | 9904 | €66,448 | €63,215 | -€3,233 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €66,448 | €63,215 | -€3,233 | -4.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.