Tom De Plecker: 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.
Tom De Plecker
Largest movements
- Receivables after one year +€65,286
up €65,286 (+27.2%), from €240,107 to €305,393
- Receivables within one year -€52,798
down €52,798 (-43.8%), from €120,606 to €67,809
of which Trade receivables: -€45,121
- Cash -€14,666
down €14,666 (-25.2%), from €58,269 to €43,603
mainly Receivables after one year (-€65,286) and Current portion of long-term debt (-€5,689)
- Tangible fixed assets -€9,245
down €9,245 (-41.0%), from €22,569 to €13,323
of which Furniture and vehicles: -€7,657
- Current portion of long-term debt -€5,689
no longer reported in 2025 (was €5,689)
- Gross operating margin +€4,103
up €4,103 (+2.8%), from €148,960 to €153,062
- Staff costs +€2,723
up €2,723 (+2.0%), from €137,642 to €140,366
- Financial charges +€2,245
up €2,245 (+64.8%), from €3,463 to €5,708
- Other operating charges -€1,958
down €1,958 (-48.5%), from €4,039 to €2,081
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 | €464,601 | €456,578 | -€8,023 | -1.7% |
| Fixed assets | 21/28 | €26,369 | €17,123 | -€9,245 | -35.1% |
| Tangible fixed assets | 22/27 | €22,569 | €13,323 | -€9,245 | -41.0% |
| Plant, machinery and equipment | 23 | €4,884 | €3,656 | -€1,228 | -25.1% |
| Furniture and vehicles | 24 | €15,959 | €8,302 | -€7,657 | -48.0% |
| Other tangible fixed assets | 26 | €1,725 | €1,365 | -€360 | -20.9% |
| Financial fixed assets | 28 | €3,800 | €3,800 | = | 0.0% |
| Current assets | 29/58 | €438,232 | €439,454 | +€1,223 | +0.3% |
| Amounts receivable after more than one year | 29 | €240,107 | €305,393 | +€65,286 | +27.2% |
| Other amounts receivable | 291 | €240,107 | €305,393 | +€65,286 | +27.2% |
| Stocks and contracts in progress | 3 | €19,250 | €22,650 | +€3,400 | +17.7% |
| Stocks | 30/36 | €19,250 | €22,650 | +€3,400 | +17.7% |
| Amounts receivable within one year | 40/41 | €120,606 | €67,809 | -€52,798 | -43.8% |
| Trade receivables | 40 | €93,495 | €48,374 | -€45,121 | -48.3% |
| Other amounts receivable | 41 | €27,111 | €19,434 | -€7,677 | -28.3% |
| Cash at bank and in hand | 54/58 | €58,269 | €43,603 | -€14,666 | -25.2% |
| Total equity and liabilities | 10/49 | €464,601 | €456,578 | -€8,023 | -1.7% |
| Equity | 10/15 | €390,764 | €388,877 | -€1,888 | -0.5% |
| 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 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €370,304 | €368,417 | -€1,888 | -0.5% |
| Amounts payable | 17/49 | €73,836 | €67,701 | -€6,135 | -8.3% |
| Amounts payable after more than one year | 17 | €10,643 | €11,562 | +€919 | +8.6% |
| Financial debts | 170/4 | €10,643 | €11,562 | +€919 | +8.6% |
| Amounts payable within one year | 42/48 | €63,193 | €56,139 | -€7,054 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €5,689 | - | -€5,689 | |
| Trade debts | 44 | €51,015 | €49,542 | -€1,474 | -2.9% |
| Suppliers | 440/4 | €51,015 | €49,542 | -€1,474 | -2.9% |
| Taxes, remuneration and social security | 45 | €6,489 | €6,597 | +€108 | +1.7% |
| Taxes | 450/3 | €787 | €795 | +€8 | +1.0% |
| Remuneration and social security | 454/9 | €5,702 | €5,802 | +€100 | +1.8% |
| Remuneration, social security and pensions | 62 | €137,642 | €140,366 | +€2,723 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,024 | €9,245 | +€1,221 | +15.2% |
| Other operating charges | 640/8 | €4,039 | €2,081 | -€1,958 | -48.5% |
| Gross operating margin | 9900 | €148,960 | €153,062 | +€4,103 | +2.8% |
| Operating profit (loss) | 9901 | -€746 | €1,371 | +€2,116 | |
| Financial income | 75/76B | €2,408 | €2,628 | +€220 | +9.1% |
| Recurring financial income | 75 | €2,408 | €2,628 | +€220 | +9.1% |
| Financial charges | 65/66B | €3,463 | €5,708 | +€2,245 | +64.8% |
| Recurring financial charges | 65 | €3,463 | €5,708 | +€2,245 | +64.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,800 | -€1,709 | +€91 | +5.1% |
| Income taxes | 67/77 | - | €179 | +€179 | |
| Profit (loss) for the period | 9904 | -€1,800 | -€1,888 | -€87 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,800 | -€1,888 | -€87 | -4.9% |
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 24 October 2026 via checked.be.