PRAET: 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.
PRAET
Largest movements
- Stocks and contracts -€91,928
down €91,928 (-18.5%), from €498,111 to €406,183
- Receivables within one year +€83,226
up €83,226 (+146%), from €57,187 to €140,413
of which Trade receivables: +€84,454
- Cash +€76,029
up €76,029 (+249%), from €30,558 to €106,587
mainly Trade debts (+€283,563) and Stocks and contracts (+€91,928)
- Tangible fixed assets -€24,029
down €24,029 (-3.3%), from €736,115 to €712,086
of which Plant, machinery and equipment: -€28,522
- Trade debts +€283,563
up €283,563, from €0 to €283,563
- Debts after one year -€255,482
down €255,482 (-43.4%), from €588,996 to €333,515
of which Financial debts: -€255,482
- Short-term financial debts -€101,463
down €101,463 (-36.0%), from €281,499 to €180,036
- Tax, wage and social debts +€87,503
up €87,503 (+679%), from €12,895 to €100,398
- Other debts +€66,913
up €66,913 (+25.3%), from €264,424 to €331,336
- Gross operating margin -€29,481
down €29,481 (-27.7%), from €106,340 to €76,858
- Taxes +€27,485
up €27,485 (+905%), from €3,036 to €30,521
- Other operating charges -€8,125
down €8,125 (-96.2%), from €8,448 to €323
- Depreciation +€6,115
up €6,115 (+37.6%), from €16,261 to €22,376
- Financial charges +€5,576
up €5,576 (+12.8%), from €43,581 to €49,157
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 | €1,324,721 | €1,368,019 | +€43,297 | +3.3% |
| Fixed assets | 21/28 | €738,865 | €714,836 | -€24,029 | -3.3% |
| Tangible fixed assets | 22/27 | €736,115 | €712,086 | -€24,029 | -3.3% |
| Land and buildings | 22 | €701,719 | €686,815 | -€14,904 | -2.1% |
| Plant, machinery and equipment | 23 | €30,655 | €2,133 | -€28,522 | -93.0% |
| Furniture and vehicles | 24 | €3,740 | €23,137 | +€19,397 | +519% |
| Financial fixed assets | 28 | €2,750 | €2,750 | = | 0.0% |
| Current assets | 29/58 | €585,857 | €653,183 | +€67,326 | +11.5% |
| Stocks and contracts in progress | 3 | €498,111 | €406,183 | -€91,928 | -18.5% |
| Stocks | 30/36 | €498,111 | €406,183 | -€91,928 | -18.5% |
| Amounts receivable within one year | 40/41 | €57,187 | €140,413 | +€83,226 | +146% |
| Trade receivables | 40 | €55,959 | €140,413 | +€84,454 | +151% |
| Other amounts receivable | 41 | €1,228 | €0 | -€1,228 | -100% |
| Cash at bank and in hand | 54/58 | €30,558 | €106,587 | +€76,029 | +249% |
| Total equity and liabilities | 10/49 | €1,324,721 | €1,368,019 | +€43,297 | +3.3% |
| Equity | 10/15 | €118,799 | €92,493 | -€26,306 | -22.1% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €6,300 | €6,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,300 | €6,300 | = | 0.0% |
| Legal reserve | 130 | €6,300 | €6,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,499 | €23,193 | -€26,306 | -53.1% |
| Amounts payable | 17/49 | €1,205,922 | €1,275,526 | +€69,603 | +5.8% |
| Amounts payable after more than one year | 17 | €588,996 | €333,515 | -€255,482 | -43.4% |
| Financial debts | 170/4 | €543,996 | €288,515 | -€255,482 | -47.0% |
| Other amounts payable | 178/9 | €45,000 | €45,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €616,926 | €942,011 | +€325,085 | +52.7% |
| Current portion of amounts payable after more than one year | 42 | €58,108 | €46,678 | -€11,430 | -19.7% |
| Financial debts | 43 | €281,499 | €180,036 | -€101,463 | -36.0% |
| Credit institutions | 430/8 | €281,499 | €180,036 | -€101,463 | -36.0% |
| Trade debts | 44 | €0 | €283,563 | +€283,563 | |
| Suppliers | 440/4 | €0 | €283,563 | +€283,563 | |
| Taxes, remuneration and social security | 45 | €12,895 | €100,398 | +€87,503 | +679% |
| Taxes | 450/3 | €12,895 | €100,398 | +€87,503 | +679% |
| Other amounts payable | 47/48 | €264,424 | €331,336 | +€66,913 | +25.3% |
| Non-recurring operating income | 76A | - | €24,313 | +€24,313 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,261 | €22,376 | +€6,115 | +37.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €972 | +€972 | |
| Other operating charges | 640/8 | €8,448 | €323 | -€8,125 | -96.2% |
| Gross operating margin | 9900 | €106,340 | €76,858 | -€29,481 | -27.7% |
| Operating profit (loss) | 9901 | €81,631 | €53,187 | -€28,443 | -34.8% |
| Financial income | 75/76B | €0 | €185 | +€185 | |
| Recurring financial income | 75 | €0 | €185 | +€185 | |
| Financial charges | 65/66B | €43,581 | €49,157 | +€5,576 | +12.8% |
| Recurring financial charges | 65 | €43,581 | €49,157 | +€5,576 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €38,049 | €4,215 | -€33,834 | -88.9% |
| Income taxes | 67/77 | €3,036 | €30,521 | +€27,485 | +905% |
| Profit (loss) for the period | 9904 | €35,013 | -€26,306 | -€61,319 | |
| Profit (loss) for the period to be appropriated | 9905 | €35,013 | -€26,306 | -€61,319 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.