Dr. Benjamin Peters: 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. Benjamin Peters
Largest movements
- Receivables within one year +€418,492
up €418,492 (+55.1%), from €759,735 to €1.2m
of which Other amounts receivable: +€518,492
- Cash -€109,720
down €109,720 (-94.5%), from €116,165 to €6,445
mainly Receivables within one year (-€418,492) and Contributions, distributions and other (-€200,000)
- Tangible fixed assets -€17,734
down €17,734 (-31.9%), from €55,653 to €37,919
of which Furniture and vehicles: -€13,896
- Profit (loss) carried forward +€178,275
up €178,275 (+20.0%), from €889,776 to €1.1m
- Debts after one year +€137,722
new in 2025: €137,722
- Other debts -€21,654
down €21,654 (-100%), from €21,654 to €0
- Gross operating margin +€52,935
up €52,935 (+11.3%), from €469,289 to €522,224
- Staff costs -€28,639
down €28,639, from €28,586 to -€53
- Taxes +€15,209
up €15,209 (+14.1%), from €107,570 to €122,779
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 | €932,221 | €1,223,630 | +€291,409 | +31.3% |
| Fixed assets | 21/28 | €55,653 | €37,919 | -€17,734 | -31.9% |
| Tangible fixed assets | 22/27 | €55,653 | €37,919 | -€17,734 | -31.9% |
| Plant, machinery and equipment | 23 | €337 | €77 | -€260 | -77.2% |
| Furniture and vehicles | 24 | €27,601 | €13,705 | -€13,896 | -50.3% |
| Other tangible fixed assets | 26 | €27,715 | €24,137 | -€3,578 | -12.9% |
| Current assets | 29/58 | €876,568 | €1,185,711 | +€309,143 | +35.3% |
| Amounts receivable within one year | 40/41 | €759,735 | €1,178,226 | +€418,492 | +55.1% |
| Trade receivables | 40 | €100,000 | €0 | -€100,000 | -100% |
| Other amounts receivable | 41 | €659,735 | €1,178,226 | +€518,492 | +78.6% |
| Cash at bank and in hand | 54/58 | €116,165 | €6,445 | -€109,720 | -94.5% |
| Deferred charges and accrued income | 490/1 | €669 | €1,039 | +€371 | +55.4% |
| Total equity and liabilities | 10/49 | €932,221 | €1,223,630 | +€291,409 | +31.3% |
| Equity | 10/15 | €894,776 | €1,073,050 | +€178,275 | +19.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €889,776 | €1,068,050 | +€178,275 | +20.0% |
| Amounts payable | 17/49 | €37,445 | €150,580 | +€113,134 | +302% |
| Amounts payable after more than one year | 17 | - | €137,722 | +€137,722 | |
| Financial debts | 170/4 | - | €137,722 | +€137,722 | |
| Amounts payable within one year | 42/48 | €35,914 | €12,858 | -€23,056 | -64.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €3,190 | €1,668 | -€1,522 | -47.7% |
| Suppliers | 440/4 | €3,190 | €1,668 | -€1,522 | -47.7% |
| Taxes, remuneration and social security | 45 | €11,070 | €11,190 | +€120 | +1.1% |
| Taxes | 450/3 | €11,070 | €11,070 | = | 0.0% |
| Remuneration and social security | 454/9 | €0 | €120 | +€120 | |
| Other amounts payable | 47/48 | €21,654 | €0 | -€21,654 | -100% |
| Accrued charges and deferred income | 492/3 | €1,531 | €0 | -€1,531 | -100% |
| Remuneration, social security and pensions | 62 | €28,586 | -€53 | -€28,639 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,734 | €17,734 | = | 0.0% |
| Other operating charges | 640/8 | €1,610 | €1,885 | +€275 | +17.1% |
| Gross operating margin | 9900 | €469,289 | €522,224 | +€52,935 | +11.3% |
| Operating profit (loss) | 9901 | €421,359 | €502,658 | +€81,299 | +19.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1,435 | €1,605 | +€170 | +11.8% |
| Recurring financial charges | 65 | €1,435 | €1,605 | +€170 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €419,924 | €501,054 | +€81,130 | +19.3% |
| Income taxes | 67/77 | €107,570 | €122,779 | +€15,209 | +14.1% |
| Profit (loss) for the period | 9904 | €312,354 | €378,275 | +€65,920 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €312,354 | €378,275 | +€65,920 | +21.1% |
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 21 October 2026 via checked.be.