Yannick Piessens: 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.
Yannick Piessens
Largest movements
- Tangible fixed assets +€38,978
up €38,978 (+338%), from €11,525 to €50,503
of which Furniture and vehicles: +€36,780
- Cash +€20,613
up €20,613 (+213%), from €9,687 to €30,300
mainly Debts after one year (+€26,696) and Net result for the year (+€26,327)
- Receivables within one year +€6,917
up €6,917 (+39.6%), from €17,485 to €24,401
of which Other amounts receivable: +€5,123
- Current investments +€6,000
up €6,000 (+385%), from €1,560 to €7,560
- Debts after one year +€26,696
up €26,696 (+409%), from €6,528 to €33,224
- Reserves +€26,327
up €26,327 (+155%), from €16,993 to €43,320
- Tax, wage and social debts +€8,836
up €8,836 (+99.6%), from €8,875 to €17,712
- Current portion of long-term debt +€7,894
up €7,894 (+203%), from €3,897 to €11,791
- Trade debts +€3,359
up €3,359 (+378%), from €889 to €4,248
- Gross operating margin +€22,465
up €22,465 (+90.5%), from €24,812 to €47,277
- Depreciation +€5,460
up €5,460 (+233%), from €2,339 to €7,798
- Taxes +€3,394
up €3,394 (+71.1%), from €4,776 to €8,170
- Financial charges +€1,026
up €1,026 (+336%), from €305 to €1,331
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 | €40,802 | €112,795 | +€71,993 | +176% |
| Formation expenses | 20 | €211 | - | -€211 | |
| Fixed assets | 21/28 | €11,525 | €50,503 | +€38,978 | +338% |
| Tangible fixed assets | 22/27 | €11,525 | €50,503 | +€38,978 | +338% |
| Plant, machinery and equipment | 23 | - | €2,198 | +€2,198 | |
| Furniture and vehicles | 24 | €11,525 | €48,305 | +€36,780 | +319% |
| Current assets | 29/58 | €29,067 | €62,292 | +€33,226 | +114% |
| Amounts receivable within one year | 40/41 | €17,485 | €24,401 | +€6,917 | +39.6% |
| Trade receivables | 40 | €17,485 | €19,278 | +€1,793 | +10.3% |
| Other amounts receivable | 41 | - | €5,123 | +€5,123 | |
| Current investments | 50/53 | €1,560 | €7,560 | +€6,000 | +385% |
| Cash at bank and in hand | 54/58 | €9,687 | €30,300 | +€20,613 | +213% |
| Deferred charges and accrued income | 490/1 | €335 | €31 | -€303 | -90.7% |
| Total equity and liabilities | 10/49 | €40,802 | €112,795 | +€71,993 | +176% |
| Equity | 10/15 | €19,493 | €45,820 | +€26,327 | +135% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €16,993 | €43,320 | +€26,327 | +155% |
| Distributable reserves | 133 | €16,993 | €43,320 | +€26,327 | +155% |
| Amounts payable | 17/49 | €21,309 | €66,975 | +€45,666 | +214% |
| Amounts payable after more than one year | 17 | €6,528 | €33,224 | +€26,696 | +409% |
| Financial debts | 170/4 | €6,528 | €33,224 | +€26,696 | +409% |
| Amounts payable within one year | 42/48 | €14,295 | €33,751 | +€19,456 | +136% |
| Current portion of amounts payable after more than one year | 42 | €3,897 | €11,791 | +€7,894 | +203% |
| Trade debts | 44 | €889 | €4,248 | +€3,359 | +378% |
| Suppliers | 440/4 | €889 | €4,248 | +€3,359 | +378% |
| Taxes, remuneration and social security | 45 | €8,875 | €17,712 | +€8,836 | +99.6% |
| Taxes | 450/3 | €8,875 | €17,712 | +€8,836 | +99.6% |
| Other amounts payable | 47/48 | €633 | - | -€633 | |
| Accrued charges and deferred income | 492/3 | €486 | - | -€486 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,339 | €7,798 | +€5,460 | +233% |
| Other operating charges | 640/8 | €515 | €487 | -€28 | -5.4% |
| Non-recurring operating charges | 66A | - | €3,316 | +€3,316 | |
| Gross operating margin | 9900 | €24,812 | €47,277 | +€22,465 | +90.5% |
| Operating profit (loss) | 9901 | €21,959 | €35,676 | +€13,717 | +62.5% |
| Financial income | 75/76B | €115 | €152 | +€37 | +31.7% |
| Recurring financial income | 75 | €115 | €152 | +€37 | +31.7% |
| Financial charges | 65/66B | €305 | €1,331 | +€1,026 | +336% |
| Recurring financial charges | 65 | €305 | €1,331 | +€1,026 | +336% |
| Profit (loss) for the period before taxes | 9903 | €21,769 | €34,497 | +€12,727 | +58.5% |
| Income taxes | 67/77 | €4,776 | €8,170 | +€3,394 | +71.1% |
| Profit (loss) for the period | 9904 | €16,993 | €26,327 | +€9,334 | +54.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,993 | €26,327 | +€9,334 | +54.9% |
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 15 October 2026 via checked.be.