withPEPS: what changed
Two fiscal 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.
withPEPS
Largest movements
- Current investments +€365,000
new in 2025: €365,000
- Cash -€289,476
down €289,476 (-81.8%), from €353,979 to €64,503
mainly Current investments (-€365,000) and Investment in fixed assets (net) (-€719)
- Receivables within one year -€11,661
down €11,661 (-29.0%), from €40,272 to €28,612
of which Trade receivables: -€17,770
- Reserves +€45,619
up €45,619 (+14.5%), from €315,354 to €360,973
- Tax, wage and social debts +€14,465
up €14,465 (+82.3%), from €17,585 to €32,050
- Gross operating margin -€15,123
down €15,123 (-18.3%), from €82,585 to €67,462
- Taxes -€7,494
down €7,494 (-27.5%), from €27,285 to €19,791
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.
Cash bridge derived
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 | €399,291 | €461,730 | +€62,438 | +15.6% |
| Fixed assets | 21/28 | €4,114 | €3,215 | -€898 | -21.8% |
| Tangible fixed assets | 22/27 | €4,114 | €3,215 | -€898 | -21.8% |
| Plant, machinery and equipment | 23 | €2,211 | €1,961 | -€250 | -11.3% |
| Furniture and vehicles | 24 | €1,903 | €1,254 | -€649 | -34.1% |
| Current assets | 29/58 | €395,178 | €458,515 | +€63,337 | +16.0% |
| Amounts receivable within one year | 40/41 | €40,272 | €28,612 | -€11,661 | -29.0% |
| Trade receivables | 40 | €17,982 | €212 | -€17,770 | -98.8% |
| Other amounts receivable | 41 | €22,290 | €28,400 | +€6,110 | +27.4% |
| Current investments | 50/53 | - | €365,000 | +€365,000 | |
| Cash at bank and in hand | 54/58 | €353,979 | €64,503 | -€289,476 | -81.8% |
| Deferred charges and accrued income | 490/1 | €926 | €400 | -€526 | -56.8% |
| Total equity and liabilities | 10/49 | €399,291 | €461,730 | +€62,438 | +15.6% |
| Equity | 10/15 | €372,160 | €417,779 | +€45,619 | +12.3% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €315,354 | €360,973 | +€45,619 | +14.5% |
| Distributable reserves | 133 | €315,354 | €360,973 | +€45,619 | +14.5% |
| Profit (loss) carried forward | 14 | €50,306 | €50,306 | = | 0.0% |
| Amounts payable | 17/49 | €27,131 | €43,951 | +€16,819 | +62.0% |
| Amounts payable within one year | 42/48 | €27,131 | €43,951 | +€16,819 | +62.0% |
| Trade debts | 44 | €9,546 | €11,900 | +€2,354 | +24.7% |
| Suppliers | 440/4 | €9,546 | €11,900 | +€2,354 | +24.7% |
| Taxes, remuneration and social security | 45 | €17,585 | €32,050 | +€14,465 | +82.3% |
| Taxes | 450/3 | €17,585 | €32,050 | +€14,465 | +82.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,269 | €1,617 | -€652 | -28.7% |
| Other operating charges | 640/8 | €384 | €353 | -€32 | -8.3% |
| Gross operating margin | 9900 | €82,585 | €67,462 | -€15,123 | -18.3% |
| Operating profit (loss) | 9901 | €79,932 | €65,492 | -€14,439 | -18.1% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €5 | €82 | +€78 | +1646.7% |
| Recurring financial charges | 65 | €5 | €82 | +€78 | +1646.7% |
| Profit (loss) for the period before taxes | 9903 | €79,927 | €65,410 | -€14,517 | -18.2% |
| Income taxes | 67/77 | €27,285 | €19,791 | -€7,494 | -27.5% |
| Profit (loss) for the period | 9904 | €52,642 | €45,619 | -€7,023 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €52,642 | €45,619 | -€7,023 | -13.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.