Pieter Thys: what changed
Pieter Thys
Largest movements
- Receivables within one year -€74,740
down €74,740 (-25.6%), from €291,614 to €216,874
of which Trade receivables: -€69,842
- Tangible fixed assets -€44,163
down €44,163 (-25.3%), from €174,245 to €130,082
of which Furniture and vehicles: -€30,718
- Stocks and contracts +€20,000
up €20,000 (+2,571%), from €778 to €20,778
- Cash +€16,491
up €16,491 (+87.9%), from €18,769 to €35,260
mainly Receivables within one year (+€74,740) and Depreciation (+€53,648)
- Trade debts -€105,541
down €105,541 (-71.4%), from €147,822 to €42,281
- Other debts +€35,698
up €35,698 (+141%), from €25,393 to €61,091
- Debts after one year -€35,220
down €35,220 (-75.5%), from €46,657 to €11,436
- Tax, wage and social debts +€15,874
up €15,874 (+108%), from €14,727 to €30,600
- Reserves +€12,375
up €12,375 (+6.1%), from €203,839 to €216,214
of which Distributable reserves: +€12,375
- Gross operating margin -€26,500
down €26,500 (-24.6%), from €107,846 to €81,346
- Taxes -€8,864
down €8,864 (-61.3%), from €14,460 to €5,596
- Depreciation +€4,943
up €4,943 (+10.1%), from €48,705 to €53,648
- Financial income +€3,263
new in 2025: €3,263
- Financial charges +€3,129
up €3,129 (+77.6%), from €4,030 to €7,158
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 | €485,656 | €403,243 | -€82,413 | -17.0% |
| Fixed assets | 21/28 | €174,495 | €130,332 | -€44,163 | -25.3% |
| Tangible fixed assets | 22/27 | €174,245 | €130,082 | -€44,163 | -25.3% |
| Land and buildings | 22 | €20,460 | €18,971 | -€1,489 | -7.3% |
| Plant, machinery and equipment | 23 | €39,520 | €27,563 | -€11,957 | -30.3% |
| Furniture and vehicles | 24 | €114,265 | €83,548 | -€30,718 | -26.9% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €311,161 | €272,911 | -€38,249 | -12.3% |
| Stocks and contracts in progress | 3 | €778 | €20,778 | +€20,000 | +2,571% |
| Stocks | 30/36 | €778 | €20,778 | +€20,000 | +2,571% |
| Amounts receivable within one year | 40/41 | €291,614 | €216,874 | -€74,740 | -25.6% |
| Trade receivables | 40 | €276,734 | €206,892 | -€69,842 | -25.2% |
| Other amounts receivable | 41 | €14,880 | €9,982 | -€4,898 | -32.9% |
| Cash at bank and in hand | 54/58 | €18,769 | €35,260 | +€16,491 | +87.9% |
| Total equity and liabilities | 10/49 | €485,656 | €403,243 | -€82,413 | -17.0% |
| Equity | 10/15 | €210,039 | €222,414 | +€12,375 | +5.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €203,839 | €216,214 | +€12,375 | +6.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €201,979 | €214,354 | +€12,375 | +6.1% |
| Amounts payable | 17/49 | €275,616 | €180,829 | -€94,787 | -34.4% |
| Amounts payable after more than one year | 17 | €46,657 | €11,436 | -€35,220 | -75.5% |
| Financial debts | 170/4 | €46,657 | €11,436 | -€35,220 | -75.5% |
| Amounts payable within one year | 42/48 | €228,959 | €169,393 | -€59,567 | -26.0% |
| Current portion of amounts payable after more than one year | 42 | €41,017 | €35,420 | -€5,597 | -13.6% |
| Trade debts | 44 | €147,822 | €42,281 | -€105,541 | -71.4% |
| Suppliers | 440/4 | €147,822 | €42,281 | -€105,541 | -71.4% |
| Taxes, remuneration and social security | 45 | €14,727 | €30,600 | +€15,874 | +108% |
| Taxes | 450/3 | €14,727 | €30,600 | +€15,874 | +108% |
| Other amounts payable | 47/48 | €25,393 | €61,091 | +€35,698 | +141% |
| Remuneration, social security and pensions | 62 | - | €1,853 | +€1,853 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,705 | €53,648 | +€4,943 | +10.1% |
| Other operating charges | 640/8 | €3,208 | €3,978 | +€770 | +24.0% |
| Non-recurring operating charges | 66A | €1,316 | €0 | -€1,316 | -100% |
| Gross operating margin | 9900 | €107,846 | €81,346 | -€26,500 | -24.6% |
| Operating profit (loss) | 9901 | €54,617 | €21,866 | -€32,751 | -60.0% |
| Financial income | 75/76B | - | €3,263 | +€3,263 | |
| Recurring financial income | 75 | - | €3,263 | +€3,263 | |
| Financial charges | 65/66B | €4,030 | €7,158 | +€3,129 | +77.6% |
| Recurring financial charges | 65 | €4,030 | €7,158 | +€3,129 | +77.6% |
| Profit (loss) for the period before taxes | 9903 | €50,587 | €17,971 | -€32,616 | -64.5% |
| Income taxes | 67/77 | €14,460 | €5,596 | -€8,864 | -61.3% |
| Profit (loss) for the period | 9904 | €36,127 | €12,375 | -€23,752 | -65.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,127 | €12,375 | -€23,752 | -65.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.