Pieter Snoeks: 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 Snoeks
Largest movements
- Tangible fixed assets +€39,423
up €39,423 (+139%), from €28,433 to €67,856
- Cash -€13,061
down €13,061 (-46.5%), from €28,067 to €15,005
mainly Investment in fixed assets (net) (-€45,468) and Contributions, distributions and other (-€19,061)
- Debts after one year +€38,464
up €38,464 (+142%), from €27,019 to €65,483
- Other debts -€7,638
down €7,638 (-52.1%), from €14,649 to €7,011
- Reserves -€6,083
down €6,083 (-15.7%), from €38,631 to €32,548
- Current portion of long-term debt -€4,473
down €4,473 (-61.4%), from €7,287 to €2,814
- Tax, wage and social debts +€3,936
up €3,936 (+1,575%), from €250 to €4,186
- Financial charges +€5,555
up €5,555 (+227%), from €2,445 to €8,000
- Gross operating margin +€4,660
up €4,660 (+12.1%), from €38,398 to €43,058
- Taxes +€1,404
up €1,404 (+18.0%), from €7,817 to €9,221
- Depreciation -€724
down €724 (-10.7%), from €6,769 to €6,046
- Staff costs -€500
down €500 (-100%), from €500 to €0
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 | €91,397 | €116,670 | +€25,273 | +27.7% |
| Fixed assets | 21/28 | €49,526 | €88,949 | +€39,423 | +79.6% |
| Tangible fixed assets | 22/27 | €28,433 | €67,856 | +€39,423 | +139% |
| Furniture and vehicles | 24 | €28,433 | €67,856 | +€39,423 | +139% |
| Financial fixed assets | 28 | €21,093 | €21,093 | = | 0.0% |
| Current assets | 29/58 | €41,871 | €27,721 | -€14,150 | -33.8% |
| Amounts receivable within one year | 40/41 | €12,884 | €12,704 | -€179 | -1.4% |
| Trade receivables | 40 | €10,500 | €10,500 | = | 0.0% |
| Other amounts receivable | 41 | €2,384 | €2,204 | -€179 | -7.5% |
| Cash at bank and in hand | 54/58 | €28,067 | €15,005 | -€13,061 | -46.5% |
| Deferred charges and accrued income | 490/1 | €920 | €11 | -€909 | -98.8% |
| Total equity and liabilities | 10/49 | €91,397 | €116,670 | +€25,273 | +27.7% |
| Equity | 10/15 | €39,631 | €33,548 | -€6,083 | -15.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €38,631 | €32,548 | -€6,083 | -15.7% |
| Distributable reserves | 133 | €38,631 | €32,548 | -€6,083 | -15.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €51,766 | €83,122 | +€31,356 | +60.6% |
| Amounts payable after more than one year | 17 | €27,019 | €65,483 | +€38,464 | +142% |
| Financial debts | 170/4 | €27,019 | €65,483 | +€38,464 | +142% |
| Amounts payable within one year | 42/48 | €24,747 | €17,639 | -€7,108 | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €7,287 | €2,814 | -€4,473 | -61.4% |
| Trade debts | 44 | €2,561 | €3,628 | +€1,067 | +41.7% |
| Suppliers | 440/4 | €2,561 | €3,628 | +€1,067 | +41.7% |
| Taxes, remuneration and social security | 45 | €250 | €4,186 | +€3,936 | +1,575% |
| Taxes | 450/3 | €250 | €4,186 | +€3,936 | +1,575% |
| Other amounts payable | 47/48 | €14,649 | €7,011 | -€7,638 | -52.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €500 | €0 | -€500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,769 | €6,046 | -€724 | -10.7% |
| Other operating charges | 640/8 | €1,367 | €1,801 | +€434 | +31.8% |
| Non-recurring operating charges | 66A | - | €5,131 | +€5,131 | |
| Gross operating margin | 9900 | €38,398 | €43,058 | +€4,660 | +12.1% |
| Operating profit (loss) | 9901 | €29,762 | €30,081 | +€319 | +1.1% |
| Financial income | 75/76B | €69 | €118 | +€49 | +70.5% |
| Recurring financial income | 75 | €69 | €118 | +€49 | +70.5% |
| Financial charges | 65/66B | €2,445 | €8,000 | +€5,555 | +227% |
| Recurring financial charges | 65 | €2,445 | €8,000 | +€5,555 | +227% |
| Profit (loss) for the period before taxes | 9903 | €27,387 | €22,199 | -€5,187 | -18.9% |
| Income taxes | 67/77 | €7,817 | €9,221 | +€1,404 | +18.0% |
| Profit (loss) for the period | 9904 | €19,570 | €12,978 | -€6,592 | -33.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,570 | €12,978 | -€6,592 | -33.7% |
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 25 October 2026 via checked.be.