DR. BARBARA PEETERS: 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.
DR. BARBARA PEETERS
Largest movements
- Cash +€87,605
up €87,605 (+30.1%), from €291,010 to €378,615
mainly Other debts (+€293,132) and Net result for the year (+€91,286)
- Tangible fixed assets +€37,257
up €37,257 (+1,024%), from €3,638 to €40,895
of which Leasing and similar rights: +€38,385
- Other debts +€293,132
up €293,132 (+488%), from €60,099 to €353,230
- Reserves -€189,432
no longer reported in 2025 (was €189,432)
- Debts after one year +€29,310
new in 2025: €29,310
- Tax, wage and social debts -€14,996
down €14,996 (-36.3%), from €41,318 to €26,322
- Current portion of long-term debt +€8,838
new in 2025: €8,838
- Gross operating margin +€13,477
up €13,477 (+12.2%), from €110,426 to €123,902
- Taxes +€2,303
up €2,303 (+10.2%), from €22,510 to €24,813
- Depreciation +€1,533
up €1,533 (+189%), from €810 to €2,343
- Financial charges +€1,506
up €1,506 (+44.1%), from €3,418 to €4,924
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 | €299,399 | €428,024 | +€128,626 | +43.0% |
| Fixed assets | 21/28 | €3,638 | €40,895 | +€37,257 | +1,024% |
| Tangible fixed assets | 22/27 | €3,638 | €40,895 | +€37,257 | +1,024% |
| Plant, machinery and equipment | 23 | €1,017 | €667 | -€350 | -34.4% |
| Furniture and vehicles | 24 | €2,620 | €1,843 | -€777 | -29.7% |
| Leasing and similar rights | 25 | - | €38,385 | +€38,385 | |
| Current assets | 29/58 | €295,761 | €387,129 | +€91,368 | +30.9% |
| Cash at bank and in hand | 54/58 | €291,010 | €378,615 | +€87,605 | +30.1% |
| Deferred charges and accrued income | 490/1 | €4,751 | €8,514 | +€3,763 | +79.2% |
| Total equity and liabilities | 10/49 | €299,399 | €428,024 | +€128,626 | +43.0% |
| Equity | 10/15 | €194,432 | €5,000 | -€189,432 | -97.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €189,432 | - | -€189,432 | |
| Distributable reserves | 133 | €189,432 | - | -€189,432 | |
| Amounts payable | 17/49 | €104,967 | €423,024 | +€318,057 | +303% |
| Amounts payable after more than one year | 17 | - | €29,310 | +€29,310 | |
| Financial debts | 170/4 | - | €29,310 | +€29,310 | |
| Amounts payable within one year | 42/48 | €101,592 | €389,020 | +€287,427 | +283% |
| Current portion of amounts payable after more than one year | 42 | - | €8,838 | +€8,838 | |
| Trade debts | 44 | €176 | €629 | +€454 | +259% |
| Suppliers | 440/4 | €176 | €629 | +€454 | +259% |
| Taxes, remuneration and social security | 45 | €41,318 | €26,322 | -€14,996 | -36.3% |
| Taxes | 450/3 | €41,318 | €26,322 | -€14,996 | -36.3% |
| Other amounts payable | 47/48 | €60,099 | €353,230 | +€293,132 | +488% |
| Accrued charges and deferred income | 492/3 | €3,375 | €4,694 | +€1,320 | +39.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €810 | €2,343 | +€1,533 | +189% |
| Other operating charges | 640/8 | €521 | €537 | +€15 | +2.9% |
| Gross operating margin | 9900 | €110,426 | €123,902 | +€13,477 | +12.2% |
| Operating profit (loss) | 9901 | €109,094 | €121,023 | +€11,929 | +10.9% |
| Financial charges | 65/66B | €3,418 | €4,924 | +€1,506 | +44.1% |
| Recurring financial charges | 65 | €3,418 | €4,924 | +€1,506 | +44.1% |
| Profit (loss) for the period before taxes | 9903 | €105,676 | €116,099 | +€10,423 | +9.9% |
| Income taxes | 67/77 | €22,510 | €24,813 | +€2,303 | +10.2% |
| Profit (loss) for the period | 9904 | €83,166 | €91,286 | +€8,120 | +9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €83,166 | €91,286 | +€8,120 | +9.8% |
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.