STEPHANE PIETTE & C°: 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.
STEPHANE PIETTE & C°
Largest movements
- Cash +€131,117
up €131,117 (+171%), from €76,848 to €207,965
mainly Net result for the year (+€161,229) and Accrued charges and deferred income (+€139,200)
- Receivables within one year +€91,696
up €91,696 (+20.2%), from €453,968 to €545,664
of which Other amounts receivable: +€89,983
- Tangible fixed assets +€57,951
up €57,951 (+7.1%), from €817,384 to €875,335
of which Land and buildings: +€59,137
- Current investments +€25,000
new in 2025: €25,000
- Reserves +€156,229
up €156,229 (+29.6%), from €527,449 to €683,678
- Accrued charges and deferred income +€139,200
up €139,200 (+79.4%), from €175,343 to €314,543
- Trade debts -€42,793
down €42,793 (-20.7%), from €206,441 to €163,649
- Debts after one year +€25,798
up €25,798 (+8.1%), from €318,869 to €344,667
- Gross operating margin -€70,100
down €70,100 (-12.8%), from €549,326 to €479,226
- Depreciation -€32,501
down €32,501 (-29.7%), from €109,253 to €76,752
- Staff costs -€26,090
down €26,090 (-13.4%), from €194,612 to €168,522
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 | €1,515,360 | €1,825,553 | +€310,193 | +20.5% |
| Fixed assets | 21/28 | €819,384 | €877,335 | +€57,951 | +7.1% |
| Tangible fixed assets | 22/27 | €817,384 | €875,335 | +€57,951 | +7.1% |
| Land and buildings | 22 | €731,432 | €790,569 | +€59,137 | +8.1% |
| Furniture and vehicles | 24 | €85,952 | €84,766 | -€1,186 | -1.4% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €695,975 | €948,217 | +€252,242 | +36.2% |
| Amounts receivable after more than one year | 29 | €156,500 | €156,500 | = | 0.0% |
| Other amounts receivable | 291 | €156,500 | €156,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €453,968 | €545,664 | +€91,696 | +20.2% |
| Trade receivables | 40 | €104,608 | €106,321 | +€1,713 | +1.6% |
| Other amounts receivable | 41 | €349,359 | €439,343 | +€89,983 | +25.8% |
| Current investments | 50/53 | - | €25,000 | +€25,000 | |
| Cash at bank and in hand | 54/58 | €76,848 | €207,965 | +€131,117 | +171% |
| Deferred charges and accrued income | 490/1 | €8,660 | €13,089 | +€4,429 | +51.1% |
| Total equity and liabilities | 10/49 | €1,515,360 | €1,825,553 | +€310,193 | +20.5% |
| Equity | 10/15 | €527,449 | €683,678 | +€156,229 | +29.6% |
| Reserves | 13 | €527,449 | €683,678 | +€156,229 | +29.6% |
| Distributable reserves | 133 | €527,449 | €683,678 | +€156,229 | +29.6% |
| Amounts payable | 17/49 | €987,911 | €1,141,875 | +€153,964 | +15.6% |
| Amounts payable after more than one year | 17 | €318,869 | €344,667 | +€25,798 | +8.1% |
| Financial debts | 170/4 | €318,869 | €344,667 | +€25,798 | +8.1% |
| Amounts payable within one year | 42/48 | €493,699 | €482,665 | -€11,034 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €125,442 | €132,218 | +€6,775 | +5.4% |
| Trade debts | 44 | €206,441 | €163,649 | -€42,793 | -20.7% |
| Suppliers | 440/4 | €206,441 | €163,649 | -€42,793 | -20.7% |
| Taxes, remuneration and social security | 45 | €82,056 | €93,399 | +€11,343 | +13.8% |
| Taxes | 450/3 | €45,259 | €54,260 | +€9,001 | +19.9% |
| Remuneration and social security | 454/9 | €36,797 | €39,138 | +€2,341 | +6.4% |
| Other amounts payable | 47/48 | €79,759 | €93,400 | +€13,641 | +17.1% |
| Accrued charges and deferred income | 492/3 | €175,343 | €314,543 | +€139,200 | +79.4% |
| Remuneration, social security and pensions | 62 | €194,612 | €168,522 | -€26,090 | -13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,253 | €76,752 | -€32,501 | -29.7% |
| Other operating charges | 640/8 | €9,365 | €10,701 | +€1,336 | +14.3% |
| Non-recurring operating charges | 66A | €2,183 | €1,785 | -€398 | -18.2% |
| Gross operating margin | 9900 | €549,326 | €479,226 | -€70,100 | -12.8% |
| Operating profit (loss) | 9901 | €233,913 | €221,466 | -€12,447 | -5.3% |
| Financial income | 75/76B | €22,099 | €26,983 | +€4,884 | +22.1% |
| Recurring financial income | 75 | €22,099 | €26,983 | +€4,884 | +22.1% |
| Financial charges | 65/66B | €12,385 | €14,980 | +€2,595 | +21.0% |
| Recurring financial charges | 65 | €12,385 | €14,980 | +€2,595 | +21.0% |
| Profit (loss) for the period before taxes | 9903 | €243,626 | €233,469 | -€10,158 | -4.2% |
| Income taxes | 67/77 | €74,544 | €72,240 | -€2,304 | -3.1% |
| Profit (loss) for the period | 9904 | €169,082 | €161,229 | -€7,854 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €169,082 | €161,229 | -€7,854 | -4.6% |
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 18 October 2026 via checked.be.