Raphael PIROTTE: 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.
What changed
Raphael PIROTTE
NACE 87.209, Residential care activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€120,588
2024 · €142,230-€21,641
Equity
€714,432
2024 · €593,844+€120,588
Cash
€287,670
2024 · €280,528+€7,142
Balance sheet total
€2.1m
2024 · €1.2m+€878,752
Largest movements
Assets
- Tangible fixed assets +€872,792
up €872,792 (+97.7%), from €893,197 to €1.8m
of which Land and buildings: +€895,461
Equity and liabilities
- Debts after one year +€866,165
up €866,165 (+211%), from €411,449 to €1.3m
of which Financial debts: +€866,165
- Profit (loss) carried forward +€120,588
up €120,588 (+21.0%), from €573,384 to €693,972
- Trade debts -€95,326
down €95,326 (-91.2%), from €104,482 to €9,156
Income statement
- Financial charges +€22,556
up €22,556 (+198%), from €11,397 to €33,953
- Staff costs +€12,189
up €12,189 (+7.1%), from €171,007 to €183,195
- Gross operating margin +€11,705
up €11,705 (+2.7%), from €427,260 to €438,965
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.
Result 2024
€142,230
Gross operating margin
+€11,705
Staff costs
-€12,189
Depreciation
+€1,342
Other operating charges
+€1,571
Other operating items
+€312
Financial income
-€847
Financial charges
-€22,556
Taxes
-€979
Result 2025
€120,588
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€71,781
Investment
-€934,041
Financing
+€869,401
Cash 2024
€280,528
From operations (derived)
+€71,781
Net result for the year
+€120,588
Depreciation
+€61,248
Smaller working-capital items
+€2,199
Trade debts
-€95,326
Other debts
-€19,300
Accrued charges and deferred income
+€2,371
Investment (derived)
-€934,041
Investment in fixed assets (net)
-€934,041
Financing
+€869,401
Debts after one year
+€866,165
Current portion of long-term debt
+€6,170
Short-term financial debts
-€2,935
Cash 2025
€287,670
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,219,140 | €2,097,892 | +€878,752 | +72.1% |
| Fixed assets | 21/28 | €893,197 | €1,765,989 | +€872,792 | +97.7% |
| Tangible fixed assets | 22/27 | €893,197 | €1,765,989 | +€872,792 | +97.7% |
| Land and buildings | 22 | €842,841 | €1,738,302 | +€895,461 | +106% |
| Furniture and vehicles | 24 | €30,958 | €16,854 | -€14,104 | -45.6% |
| Leasing and similar rights | 25 | €15,352 | €7,336 | -€8,017 | -52.2% |
| Other tangible fixed assets | 26 | €4,046 | €3,497 | -€549 | -13.6% |
| Current assets | 29/58 | €325,943 | €331,902 | +€5,960 | +1.8% |
| Amounts receivable within one year | 40/41 | €42,370 | €40,116 | -€2,255 | -5.3% |
| Trade receivables | 40 | €32,923 | €34,946 | +€2,023 | +6.1% |
| Other amounts receivable | 41 | €9,448 | €5,170 | -€4,278 | -45.3% |
| Cash at bank and in hand | 54/58 | €280,528 | €287,670 | +€7,142 | +2.5% |
| Deferred charges and accrued income | 490/1 | €3,044 | €4,117 | +€1,073 | +35.2% |
| Total equity and liabilities | 10/49 | €1,219,140 | €2,097,892 | +€878,752 | +72.1% |
| Equity | 10/15 | €593,844 | €714,432 | +€120,588 | +20.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €573,384 | €693,972 | +€120,588 | +21.0% |
| Amounts payable | 17/49 | €625,296 | €1,383,460 | +€758,163 | +121% |
| Amounts payable after more than one year | 17 | €411,449 | €1,277,614 | +€866,165 | +211% |
| Financial debts | 170/4 | €387,449 | €1,253,614 | +€866,165 | +224% |
| Other amounts payable | 178/9 | €24,000 | €24,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €212,340 | €101,967 | -€110,373 | -52.0% |
| Current portion of amounts payable after more than one year | 42 | €5,113 | €11,284 | +€6,170 | +121% |
| Financial debts | 43 | €49,660 | €46,725 | -€2,935 | -5.9% |
| Credit institutions | 430/8 | €49,660 | €46,725 | -€2,935 | -5.9% |
| Trade debts | 44 | €104,482 | €9,156 | -€95,326 | -91.2% |
| Suppliers | 440/4 | €104,482 | €9,156 | -€95,326 | -91.2% |
| Taxes, remuneration and social security | 45 | €29,811 | €30,829 | +€1,017 | +3.4% |
| Taxes | 450/3 | €11,549 | €5,991 | -€5,559 | -48.1% |
| Remuneration and social security | 454/9 | €18,262 | €24,838 | +€6,576 | +36.0% |
| Other amounts payable | 47/48 | €23,273 | €3,973 | -€19,300 | -82.9% |
| Accrued charges and deferred income | 492/3 | €1,508 | €3,879 | +€2,371 | +157% |
| Remuneration, social security and pensions | 62 | €171,007 | €183,195 | +€12,189 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,590 | €61,248 | -€1,342 | -2.1% |
| Other operating charges | 640/8 | €6,539 | €4,968 | -€1,571 | -24.0% |
| Non-recurring operating charges | 66A | €355 | €42 | -€312 | -88.0% |
| Gross operating margin | 9900 | €427,260 | €438,965 | +€11,705 | +2.7% |
| Operating profit (loss) | 9901 | €186,770 | €189,511 | +€2,741 | +1.5% |
| Financial income | 75/76B | €878 | €31 | -€847 | -96.5% |
| Recurring financial income | 75 | €878 | €31 | -€847 | -96.5% |
| Non-recurring financial income | 76B | €878 | €31 | -€847 | -96.5% |
| Financial charges | 65/66B | €11,397 | €33,953 | +€22,556 | +198% |
| Recurring financial charges | 65 | €11,397 | €33,953 | +€22,556 | +198% |
| Profit (loss) for the period before taxes | 9903 | €176,251 | €155,588 | -€20,662 | -11.7% |
| Income taxes | 67/77 | €34,021 | €35,000 | +€979 | +2.9% |
| Profit (loss) for the period | 9904 | €142,230 | €120,588 | -€21,641 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €142,230 | €120,588 | -€21,641 | -15.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.