CHRISTOPHE PETERMANN: 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.
CHRISTOPHE PETERMANN
Largest movements
- Tangible fixed assets -€11,781
down €11,781 (-26.1%), from €45,205 to €33,424
of which Land and buildings: -€11,992
- Cash +€4,038
up €4,038 (+2.8%), from €141,692 to €145,730
mainly Net result for the year (+€14,634) and Depreciation (+€13,760)
- Debts after one year -€21,781
down €21,781 (-53.3%), from €40,864 to €19,082
- Reserves +€14,630
up €14,630 (+12.5%), from €116,820 to €131,450
- Tax, wage and social debts -€2,998
down €2,998 (-67.2%), from €4,461 to €1,463
- Trade debts +€2,440
up €2,440 (+56.6%), from €4,314 to €6,754
- Gross operating margin +€16,640
up €16,640 (+66.2%), from €25,131 to €41,771
- Taxes +€5,636
up €5,636 (+2,012%), from €280 to €5,916
- Other operating charges -€3,371
down €3,371 (-49.2%), from €6,856 to €3,485
- Financial income +€679
up €679 (+41.7%), from €1,628 to €2,307
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 | €204,939 | €199,789 | -€5,149 | -2.5% |
| Fixed assets | 21/28 | €45,205 | €33,424 | -€11,781 | -26.1% |
| Tangible fixed assets | 22/27 | €45,205 | €33,424 | -€11,781 | -26.1% |
| Land and buildings | 22 | €39,561 | €27,570 | -€11,992 | -30.3% |
| Furniture and vehicles | 24 | €5,644 | €5,854 | +€210 | +3.7% |
| Current assets | 29/58 | €159,733 | €166,366 | +€6,632 | +4.2% |
| Amounts receivable within one year | 40/41 | €15,885 | €17,013 | +€1,128 | +7.1% |
| Trade receivables | 40 | €13,375 | €14,909 | +€1,534 | +11.5% |
| Other amounts receivable | 41 | €2,510 | €2,104 | -€406 | -16.2% |
| Cash at bank and in hand | 54/58 | €141,692 | €145,730 | +€4,038 | +2.8% |
| Deferred charges and accrued income | 490/1 | €2,157 | €3,622 | +€1,466 | +68.0% |
| Total equity and liabilities | 10/49 | €204,939 | €199,789 | -€5,149 | -2.5% |
| Equity | 10/15 | €129,220 | €143,855 | +€14,634 | +11.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €116,820 | €131,450 | +€14,630 | +12.5% |
| Distributable reserves | 133 | €116,820 | €131,450 | +€14,630 | +12.5% |
| Profit (loss) carried forward | 14 | €0 | €5 | +€4 | +947% |
| Amounts payable | 17/49 | €75,718 | €55,935 | -€19,784 | -26.1% |
| Amounts payable after more than one year | 17 | €40,864 | €19,082 | -€21,781 | -53.3% |
| Financial debts | 170/4 | €40,864 | €19,082 | -€21,781 | -53.3% |
| Amounts payable within one year | 42/48 | €34,855 | €36,852 | +€1,998 | +5.7% |
| Current portion of amounts payable after more than one year | 42 | €20,623 | €21,781 | +€1,158 | +5.6% |
| Trade debts | 44 | €4,314 | €6,754 | +€2,440 | +56.6% |
| Suppliers | 440/4 | €4,314 | €6,754 | +€2,440 | +56.6% |
| Taxes, remuneration and social security | 45 | €4,461 | €1,463 | -€2,998 | -67.2% |
| Taxes | 450/3 | €4,461 | €1,463 | -€2,998 | -67.2% |
| Other amounts payable | 47/48 | €5,456 | €6,854 | +€1,398 | +25.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,920 | €13,760 | -€159 | -1.1% |
| Other operating charges | 640/8 | €6,856 | €3,485 | -€3,371 | -49.2% |
| Non-recurring operating charges | 66A | €340 | €0 | -€340 | -100% |
| Gross operating margin | 9900 | €25,131 | €41,771 | +€16,640 | +66.2% |
| Operating profit (loss) | 9901 | €4,014 | €24,525 | +€20,511 | +511% |
| Financial income | 75/76B | €1,628 | €2,307 | +€679 | +41.7% |
| Recurring financial income | 75 | €1,628 | €2,307 | +€679 | +41.7% |
| Financial charges | 65/66B | €5,896 | €6,281 | +€385 | +6.5% |
| Recurring financial charges | 65 | €5,896 | €6,281 | +€385 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | -€254 | €20,550 | +€20,804 | |
| Income taxes | 67/77 | €280 | €5,916 | +€5,636 | +2,012% |
| Profit (loss) for the period | 9904 | -€534 | €14,634 | +€15,168 | |
| Profit (loss) for the period to be appropriated | 9905 | -€534 | €14,634 | +€15,168 |
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 1 November 2026 via checked.be.