Véronique Pede: 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.
Véronique Pede
Largest movements
- Current investments -€220,000
down €220,000 (-100%), from €220,000 to €0
- Cash +€26,548
up €26,548 (+78.5%), from €33,811 to €60,359
mainly Current investments (+€220,000) and Net result for the year (+€108,300)
- Tangible fixed assets -€25,296
down €25,296 (-8.4%), from €300,598 to €275,302
of which Land and buildings: -€19,625
- Receivables within one year +€9,994
up €9,994 (+7.2%), from €139,012 to €149,006
of which Other amounts receivable: +€64,705
- Reserves -€184,864
down €184,864 (-39.1%), from €472,422 to €287,558
- Debts after one year -€18,597
down €18,597 (-10.4%), from €178,694 to €160,097
of which Financial debts: -€18,597
- Gross operating margin +€48,513
up €48,513 (+58.6%), from €82,808 to €131,321
- Financial income +€42,688
up €42,688 (+226%), from €18,925 to €61,612
- Taxes +€20,512
up €20,512 (+132%), from €15,492 to €36,004
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 | €719,557 | €507,203 | -€212,354 | -29.5% |
| Fixed assets | 21/28 | €302,121 | €276,826 | -€25,296 | -8.4% |
| Tangible fixed assets | 22/27 | €300,598 | €275,302 | -€25,296 | -8.4% |
| Land and buildings | 22 | €246,667 | €227,042 | -€19,625 | -8.0% |
| Plant, machinery and equipment | 23 | €16,464 | €26,240 | +€9,775 | +59.4% |
| Furniture and vehicles | 24 | €34,560 | €19,402 | -€15,158 | -43.9% |
| Other tangible fixed assets | 26 | €2,906 | €2,619 | -€288 | -9.9% |
| Financial fixed assets | 28 | €1,524 | €1,524 | = | 0.0% |
| Current assets | 29/58 | €417,435 | €230,378 | -€187,058 | -44.8% |
| Amounts receivable within one year | 40/41 | €139,012 | €149,006 | +€9,994 | +7.2% |
| Trade receivables | 40 | €104,959 | €50,248 | -€54,711 | -52.1% |
| Other amounts receivable | 41 | €34,053 | €98,758 | +€64,705 | +190% |
| Current investments | 50/53 | €220,000 | €0 | -€220,000 | -100% |
| Cash at bank and in hand | 54/58 | €33,811 | €60,359 | +€26,548 | +78.5% |
| Deferred charges and accrued income | 490/1 | €24,612 | €21,012 | -€3,600 | -14.6% |
| Total equity and liabilities | 10/49 | €719,557 | €507,203 | -€212,354 | -29.5% |
| Equity | 10/15 | €478,008 | €292,558 | -€185,450 | -38.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €472,422 | €287,558 | -€184,864 | -39.1% |
| Distributable reserves | 133 | €472,422 | €287,558 | -€184,864 | -39.1% |
| Profit (loss) carried forward | 14 | €586 | €0 | -€586 | -100% |
| Amounts payable | 17/49 | €241,548 | €214,645 | -€26,903 | -11.1% |
| Amounts payable after more than one year | 17 | €178,694 | €160,097 | -€18,597 | -10.4% |
| Financial debts | 170/4 | €175,190 | €156,593 | -€18,597 | -10.6% |
| Other amounts payable | 178/9 | €3,504 | €3,504 | = | 0.0% |
| Amounts payable within one year | 42/48 | €61,085 | €53,108 | -€7,976 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €34,328 | €28,597 | -€5,731 | -16.7% |
| Trade debts | 44 | €2,999 | €4,110 | +€1,111 | +37.0% |
| Suppliers | 440/4 | €2,999 | €4,110 | +€1,111 | +37.0% |
| Taxes, remuneration and social security | 45 | €23,757 | €20,401 | -€3,356 | -14.1% |
| Taxes | 450/3 | €19,966 | €20,401 | +€435 | +2.2% |
| Remuneration and social security | 454/9 | €3,791 | €0 | -€3,791 | -100% |
| Accrued charges and deferred income | 492/3 | €1,770 | €1,440 | -€330 | -18.6% |
| Non-recurring operating income | 76A | - | €2,960 | +€2,960 | |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,989 | €41,248 | +€1,258 | +3.1% |
| Other operating charges | 640/8 | €2,931 | €3,021 | +€90 | +3.1% |
| Gross operating margin | 9900 | €82,808 | €131,321 | +€48,513 | +58.6% |
| Operating profit (loss) | 9901 | €39,888 | €87,052 | +€47,165 | +118% |
| Financial income | 75/76B | €18,925 | €61,612 | +€42,688 | +226% |
| Recurring financial income | 75 | €18,925 | €61,612 | +€42,688 | +226% |
| Financial charges | 65/66B | €4,419 | €4,361 | -€58 | -1.3% |
| Recurring financial charges | 65 | €4,419 | €4,361 | -€58 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €54,393 | €144,303 | +€89,910 | +165% |
| Income taxes | 67/77 | €15,492 | €36,004 | +€20,512 | +132% |
| Profit (loss) for the period | 9904 | €38,901 | €108,300 | +€69,398 | +178% |
| Profit (loss) for the period to be appropriated | 9905 | €38,901 | €108,300 | +€69,398 | +178% |
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 31 October 2026 via checked.be.