POSTLETHWAITE - DEVAUX: what changed
Two fiscal 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.
POSTLETHWAITE - DEVAUX
Largest movements
- Tangible fixed assets +€200,681
up €200,681 (+38.0%), from €528,261 to €728,942
of which Other tangible fixed assets: +€241,251
- Current investments -€35,652
down €35,652 (-80.8%), from €44,144 to €8,492
- Debts after one year +€156,729
up €156,729 (+35.4%), from €442,982 to €599,711
- Current portion of long-term debt +€20,556
up €20,556 (+54.6%), from €37,678 to €58,234
- Other debts -€14,668
down €14,668 (-67.4%), from €21,754 to €7,086
- Reserves +€8,128
up €8,128 (+11.0%), from €74,111 to €82,240
- Gross operating margin +€32,386
up €32,386 (+38.6%), from €83,986 to €116,371
- Depreciation +€31,023
up €31,023 (+70.5%), from €43,988 to €75,012
- Financial charges +€8,226
up €8,226 (+65.3%), from €12,588 to €20,815
- Taxes -€3,032
down €3,032 (-32.1%), from €9,441 to €6,410
- Other operating charges +€2,002
up €2,002 (+45.9%), from €4,365 to €6,367
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.
Cash bridge derived
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 | €587,723 | €758,149 | +€170,426 | +29.0% |
| Fixed assets | 21/28 | €528,261 | €728,942 | +€200,681 | +38.0% |
| Tangible fixed assets | 22/27 | €528,261 | €728,942 | +€200,681 | +38.0% |
| Land and buildings | 22 | €332,870 | €337,309 | +€4,439 | +1.3% |
| Plant, machinery and equipment | 23 | €2,087 | €3,346 | +€1,259 | +60.3% |
| Furniture and vehicles | 24 | €59,970 | €39,702 | -€20,268 | -33.8% |
| Other tangible fixed assets | 26 | €107,334 | €348,585 | +€241,251 | +224.8% |
| Assets under construction and advance payments | 27 | €26,000 | - | -€26,000 | |
| Current assets | 29/58 | €59,462 | €29,207 | -€30,255 | -50.9% |
| Amounts receivable within one year | 40/41 | €7,090 | €12,681 | +€5,590 | +78.8% |
| Other amounts receivable | 41 | €7,090 | €12,681 | +€5,590 | +78.8% |
| Current investments | 50/53 | €44,144 | €8,492 | -€35,652 | -80.8% |
| Cash at bank and in hand | 54/58 | €8,227 | €8,034 | -€193 | -2.3% |
| Total equity and liabilities | 10/49 | €587,723 | €758,149 | +€170,426 | +29.0% |
| Equity | 10/15 | €80,311 | €88,440 | +€8,128 | +10.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €74,111 | €82,240 | +€8,128 | +11.0% |
| Distributable reserves | 133 | €74,111 | €82,240 | +€8,128 | +11.0% |
| Amounts payable | 17/49 | €507,412 | €669,709 | +€162,298 | +32.0% |
| Amounts payable after more than one year | 17 | €442,982 | €599,711 | +€156,729 | +35.4% |
| Financial debts | 170/4 | €442,982 | €599,711 | +€156,729 | +35.4% |
| Amounts payable within one year | 42/48 | €64,430 | €69,999 | +€5,569 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €37,678 | €58,234 | +€20,556 | +54.6% |
| Trade debts | 44 | €4,189 | €147 | -€4,041 | -96.5% |
| Suppliers | 440/4 | €4,189 | €147 | -€4,041 | -96.5% |
| Taxes, remuneration and social security | 45 | €810 | €4,532 | +€3,722 | +459.5% |
| Taxes | 450/3 | €810 | €4,532 | +€3,722 | +459.5% |
| Other amounts payable | 47/48 | €21,754 | €7,086 | -€14,668 | -67.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,988 | €75,012 | +€31,023 | +70.5% |
| Other operating charges | 640/8 | €4,365 | €6,367 | +€2,002 | +45.9% |
| Gross operating margin | 9900 | €83,986 | €116,371 | +€32,386 | +38.6% |
| Operating profit (loss) | 9901 | €35,632 | €34,993 | -€639 | -1.8% |
| Financial income | 75/76B | €176 | €360 | +€184 | +104.9% |
| Recurring financial income | 75 | €176 | €360 | +€184 | +104.9% |
| Financial charges | 65/66B | €12,588 | €20,815 | +€8,226 | +65.3% |
| Recurring financial charges | 65 | €12,588 | €20,815 | +€8,226 | +65.3% |
| Profit (loss) for the period before taxes | 9903 | €23,219 | €14,538 | -€8,681 | -37.4% |
| Income taxes | 67/77 | €9,441 | €6,410 | -€3,032 | -32.1% |
| Profit (loss) for the period | 9904 | €13,778 | €8,128 | -€5,649 | -41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,778 | €8,128 | -€5,649 | -41.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.