DE PEEL: 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.
DE PEEL
Largest movements
- Cash -€3.0m
down €3.0m (-95.9%), from €3.1m to €128,350
mainly Other debts (-€3.0m) and Deferred charges and accrued income (-€22,445)
- Other debts -€3.0m
down €3.0m (-100.0%), from €3.0m to €0
- Financial income -€77,949
down €77,949 (-100.0%), from €77,949 to €0
- Gross operating margin +€21,874
up €21,874 (+134.4%), from €16,279 to €38,154
- Taxes -€11,115
down €11,115 (-61.7%), from €18,010 to €6,895
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 | €3,395,298 | €398,591 | -€3.0m | -88.3% |
| Fixed assets | 21/28 | €217,468 | €191,703 | -€25,765 | -11.8% |
| Tangible fixed assets | 22/27 | €217,468 | €191,703 | -€25,765 | -11.8% |
| Land and buildings | 22 | €164,956 | €162,756 | -€2,200 | -1.3% |
| Plant, machinery and equipment | 23 | €6,585 | €4,390 | -€2,195 | -33.3% |
| Furniture and vehicles | 24 | €27,926 | €6,557 | -€21,369 | -76.5% |
| Other tangible fixed assets | 26 | €18,000 | €18,000 | = | 0.0% |
| Current assets | 29/58 | €3,177,830 | €206,888 | -€3.0m | -93.5% |
| Amounts receivable within one year | 40/41 | €35,389 | €55,649 | +€20,260 | +57.2% |
| Trade receivables | 40 | €30,000 | €0 | -€30,000 | -100.0% |
| Other amounts receivable | 41 | €5,389 | €55,649 | +€50,260 | +932.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €3,141,998 | €128,350 | -€3.0m | -95.9% |
| Deferred charges and accrued income | 490/1 | €444 | €22,889 | +€22,445 | +5060.0% |
| Total equity and liabilities | 10/49 | €3,395,298 | €398,591 | -€3.0m | -88.3% |
| Equity | 10/15 | €380,618 | €382,839 | +€2,220 | +0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €362,018 | €364,239 | +€2,220 | +0.6% |
| Distributable reserves | 133 | €362,018 | €364,239 | +€2,220 | +0.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €3,014,680 | €15,753 | -€3.0m | -99.5% |
| Amounts payable within one year | 42/48 | €3,014,680 | €15,753 | -€3.0m | -99.5% |
| Trade debts | 44 | €2,380 | €2,392 | +€11 | +0.5% |
| Suppliers | 440/4 | €2,380 | €2,392 | +€11 | +0.5% |
| Taxes, remuneration and social security | 45 | €4,347 | €13,361 | +€9,015 | +207.4% |
| Taxes | 450/3 | €4,347 | €13,361 | +€9,015 | +207.4% |
| Other amounts payable | 47/48 | €3,007,953 | €0 | -€3.0m | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,765 | €25,765 | = | 0.0% |
| Other operating charges | 640/8 | €2,789 | €2,972 | +€183 | +6.6% |
| Gross operating margin | 9900 | €16,279 | €38,154 | +€21,874 | +134.4% |
| Operating profit (loss) | 9901 | -€12,274 | €9,417 | +€21,691 | |
| Financial income | 75/76B | €77,949 | €0 | -€77,949 | -100.0% |
| Recurring financial income | 75 | €77,949 | €0 | -€77,949 | -100.0% |
| Financial charges | 65/66B | €281 | €302 | +€21 | +7.4% |
| Recurring financial charges | 65 | €281 | €302 | +€21 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €65,394 | €9,115 | -€56,279 | -86.1% |
| Income taxes | 67/77 | €18,010 | €6,895 | -€11,115 | -61.7% |
| Profit (loss) for the period | 9904 | €47,384 | €2,220 | -€45,164 | -95.3% |
| Profit (loss) for the period to be appropriated | 9905 | €47,384 | €2,220 | -€45,164 | -95.3% |
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 9 October 2026 via checked.be.