PUSSEMIER - DE WULF: what changed
What changed
PUSSEMIER - DE WULF
NACE 43.120, Site preparation
filed annual accounts (NBB)
Net result for the year
-€31,994
2024 · €68,114-€100,109
Equity
€248,203
2024 · €280,197-€31,994
Cash
€41,604
2024 · €61,683-€20,080
Balance sheet total
€465,166
2024 · €636,149-€170,983
Largest movements
Assets
- Receivables within one year -€103,774
down €103,774 (-28.3%), from €366,801 to €263,027
of which Trade receivables: -€87,490
- Tangible fixed assets -€47,562
down €47,562 (-28.1%), from €168,984 to €121,422
of which Plant, machinery and equipment: -€41,162
- Cash -€20,080
down €20,080 (-32.6%), from €61,683 to €41,604
mainly Trade debts (-€112,647) and Net result for the year (-€31,994)
Equity and liabilities
- Trade debts -€112,647
down €112,647 (-90.6%), from €124,354 to €11,707
- Profit (loss) carried forward -€31,994
down €31,994 (-15.8%), from €202,441 to €170,447
- Current portion of long-term debt -€14,851
down €14,851 (-27.0%), from €54,906 to €40,055
- Debts after one year -€9,510
down €9,510 (-15.0%), from €63,363 to €53,853
Income statement
- Gross operating margin -€149,014
down €149,014 (-78.4%), from €189,967 to €40,953
- Depreciation -€35,722
down €35,722 (-42.9%), from €83,284 to €47,562
- Write-downs -€6,662
down €6,662 (-91.5%), from €7,280 to €618
- Taxes -€4,159
no longer reported in 2025 (was €4,159)
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.
Result 2024
€68,114
Gross operating margin
-€149,014
Staff costs
+€1,422
Depreciation
+€35,722
Write-downs
+€6,662
Other operating charges
+€1,477
Other operating items
-€1,000
Financial income
-€47
Financial charges
+€511
Taxes
+€4,159
Result 2025
-€31,994
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€4,281
Investment
€0
Financing
-€24,361
Cash 2024
€61,683
From operations (derived)
+€4,281
Net result for the year
-€31,994
Depreciation
+€47,562
Stocks and contracts
-€432
Receivables within one year
+€103,774
Trade debts
-€112,647
Tax, wage and social debts
+€292
Other debts
-€3,473
Accrued charges and deferred income
+€1,200
Financing
-€24,361
Debts after one year
-€9,510
Current portion of long-term debt
-€14,851
Cash 2025
€41,604
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €636,149 | €465,166 | -€170,983 | -26.9% |
| Fixed assets | 21/28 | €204,660 | €157,098 | -€47,562 | -23.2% |
| Tangible fixed assets | 22/27 | €168,984 | €121,422 | -€47,562 | -28.1% |
| Plant, machinery and equipment | 23 | €138,054 | €96,891 | -€41,162 | -29.8% |
| Furniture and vehicles | 24 | €30,930 | €24,530 | -€6,400 | -20.7% |
| Financial fixed assets | 28 | €35,676 | €35,676 | = | 0.0% |
| Current assets | 29/58 | €431,489 | €308,068 | -€123,421 | -28.6% |
| Stocks and contracts in progress | 3 | €3,004 | €3,437 | +€432 | +14.4% |
| Stocks | 30/36 | €3,004 | €3,437 | +€432 | +14.4% |
| Amounts receivable within one year | 40/41 | €366,801 | €263,027 | -€103,774 | -28.3% |
| Trade receivables | 40 | €344,310 | €256,820 | -€87,490 | -25.4% |
| Other amounts receivable | 41 | €22,491 | €6,208 | -€16,284 | -72.4% |
| Cash at bank and in hand | 54/58 | €61,683 | €41,604 | -€20,080 | -32.6% |
| Total equity and liabilities | 10/49 | €636,149 | €465,166 | -€170,983 | -26.9% |
| Equity | 10/15 | €280,197 | €248,203 | -€31,994 | -11.4% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €28,177 | €28,177 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,958 | €4,958 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,958 | €4,958 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,634 | €13,634 | = | 0.0% |
| Distributable reserves | 133 | €9,585 | €9,585 | = | 0.0% |
| Profit (loss) carried forward | 14 | €202,441 | €170,447 | -€31,994 | -15.8% |
| Amounts payable | 17/49 | €355,952 | €216,963 | -€138,989 | -39.0% |
| Amounts payable after more than one year | 17 | €63,363 | €53,853 | -€9,510 | -15.0% |
| Financial debts | 170/4 | €63,363 | €53,853 | -€9,510 | -15.0% |
| Amounts payable within one year | 42/48 | €281,054 | €150,375 | -€130,679 | -46.5% |
| Current portion of amounts payable after more than one year | 42 | €54,906 | €40,055 | -€14,851 | -27.0% |
| Trade debts | 44 | €124,354 | €11,707 | -€112,647 | -90.6% |
| Suppliers | 440/4 | €124,354 | €11,707 | -€112,647 | -90.6% |
| Taxes, remuneration and social security | 45 | €4,277 | €4,568 | +€292 | +6.8% |
| Taxes | 450/3 | €4,277 | €4,568 | +€292 | +6.8% |
| Other amounts payable | 47/48 | €97,518 | €94,044 | -€3,473 | -3.6% |
| Accrued charges and deferred income | 492/3 | €11,535 | €12,735 | +€1,200 | +10.4% |
| Non-recurring operating income | 76A | €144,017 | €5,000 | -€139,017 | -96.5% |
| Remuneration, social security and pensions | 62 | €12,429 | €11,007 | -€1,422 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,284 | €47,562 | -€35,722 | -42.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,280 | €618 | -€6,662 | -91.5% |
| Other operating charges | 640/8 | €7,723 | €6,246 | -€1,477 | -19.1% |
| Non-recurring operating charges | 66A | - | €1,000 | +€1,000 | |
| Gross operating margin | 9900 | €189,967 | €40,953 | -€149,014 | -78.4% |
| Operating profit (loss) | 9901 | €79,252 | -€25,480 | -€104,732 | |
| Financial income | 75/76B | €54 | €7 | -€47 | -87.2% |
| Recurring financial income | 75 | €54 | €7 | -€47 | -87.2% |
| Financial charges | 65/66B | €7,033 | €6,522 | -€511 | -7.3% |
| Recurring financial charges | 65 | €7,033 | €6,522 | -€511 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €72,273 | -€31,994 | -€104,267 | |
| Income taxes | 67/77 | €4,159 | - | -€4,159 | |
| Profit (loss) for the period | 9904 | €68,114 | -€31,994 | -€100,109 | |
| Profit (loss) for the period to be appropriated | 9905 | €68,114 | -€31,994 | -€100,109 |
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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 3 November 2026 via checked.be.