PIETER STEVENS: what changed
PIETER STEVENS
Largest movements
- Cash +€37,577
up €37,577 (+160%), from €23,481 to €61,058
mainly Net result for the year (+€39,632) and Trade debts (+€21,076)
- Receivables within one year +€15,951
up €15,951 (+5.6%), from €285,044 to €300,995
of which Other amounts receivable: +€23,576
- Deferred charges and accrued income -€13,970
down €13,970 (-60.2%), from €23,214 to €9,244
- Reserves +€26,632
up €26,632 (+8.9%), from €299,867 to €326,500
- Trade debts +€21,076
new in 2025: €21,076
- Other debts -€8,000
no longer reported in 2025 (was €8,000)
- Staff costs +€21,904
up €21,904 (+820%), from €2,672 to €24,576
- Taxes -€6,760
down €6,760 (-38.2%), from €17,686 to €10,926
- Depreciation -€1,962
down €1,962 (-72.7%), from €2,700 to €738
- Financial income -€1,543
down €1,543 (-11.0%), from €14,074 to €12,531
- Other operating charges -€1,164
down €1,164 (-80.9%), from €1,439 to €274
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €332,867 | €372,576 | +€39,708 | +11.9% |
| Fixed assets | 21/28 | €1,128 | €1,278 | +€150 | +13.3% |
| Tangible fixed assets | 22/27 | €1,128 | €1,278 | +€150 | +13.3% |
| Plant, machinery and equipment | 23 | - | €888 | +€888 | |
| Furniture and vehicles | 24 | €1,128 | €390 | -€738 | -65.4% |
| Current assets | 29/58 | €331,739 | €371,298 | +€39,558 | +11.9% |
| Amounts receivable within one year | 40/41 | €285,044 | €300,995 | +€15,951 | +5.6% |
| Trade receivables | 40 | €34,964 | €27,338 | -€7,626 | -21.8% |
| Other amounts receivable | 41 | €250,080 | €273,657 | +€23,576 | +9.4% |
| Cash at bank and in hand | 54/58 | €23,481 | €61,058 | +€37,577 | +160% |
| Deferred charges and accrued income | 490/1 | €23,214 | €9,244 | -€13,970 | -60.2% |
| Total equity and liabilities | 10/49 | €332,867 | €372,576 | +€39,708 | +11.9% |
| Equity | 10/15 | €304,867 | €331,500 | +€26,632 | +8.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €299,867 | €326,500 | +€26,632 | +8.9% |
| Distributable reserves | 133 | €299,867 | €326,500 | +€26,632 | +8.9% |
| Amounts payable | 17/49 | €28,000 | €41,076 | +€13,076 | +46.7% |
| Amounts payable within one year | 42/48 | €28,000 | €41,076 | +€13,076 | +46.7% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €20,000 | = | 0.0% |
| Trade debts | 44 | - | €21,076 | +€21,076 | |
| Suppliers | 440/4 | - | €21,076 | +€21,076 | |
| Other amounts payable | 47/48 | €8,000 | - | -€8,000 | |
| Remuneration, social security and pensions | 62 | €2,672 | €24,576 | +€21,904 | +820% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,700 | €738 | -€1,962 | -72.7% |
| Other operating charges | 640/8 | €1,439 | €274 | -€1,164 | -80.9% |
| Gross operating margin | 9900 | €67,136 | €66,165 | -€971 | -1.4% |
| Operating profit (loss) | 9901 | €60,324 | €40,576 | -€19,748 | -32.7% |
| Financial income | 75/76B | €14,074 | €12,531 | -€1,543 | -11.0% |
| Recurring financial income | 75 | €14,074 | €12,531 | -€1,543 | -11.0% |
| Financial charges | 65/66B | €2,499 | €2,549 | +€50 | +2.0% |
| Recurring financial charges | 65 | €2,499 | €2,549 | +€50 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €71,899 | €50,558 | -€21,341 | -29.7% |
| Income taxes | 67/77 | €17,686 | €10,926 | -€6,760 | -38.2% |
| Profit (loss) for the period | 9904 | €54,214 | €39,632 | -€14,581 | -26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €54,214 | €39,632 | -€14,581 | -26.9% |
Next steps
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 2 November 2026 via checked.be.