DR CEDRIC PETERS: what changed
DR CEDRIC PETERS
Largest movements
- Cash -€195,570
down €195,570 (-83.8%), from €233,483 to €37,913
mainly Contributions, distributions and other (-€168,480) and Tax, wage and social debts (-€56,931)
- Receivables within one year -€40,863
no longer reported in 2025 (was €40,863)
of which Other amounts receivable: -€21,245
- Tangible fixed assets +€21,486
up €21,486 (+1,019%), from €2,108 to €23,594
of which Other tangible fixed assets: +€19,707
- Reserves -€179,112
down €179,112 (-61.4%), from €291,801 to €112,689
- Tax, wage and social debts -€56,931
down €56,931 (-66.5%), from €85,600 to €28,668
- Other debts +€24,631
up €24,631 (+2,867%), from €859 to €25,490
- Gross operating margin -€123,647
down €123,647, from €115,152 to -€8,494
- Taxes -€29,622
down €29,622 (-99.5%), from €29,756 to €134
- Depreciation +€1,774
up €1,774 (+169%), from €1,047 to €2,821
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €384,176 | €171,994 | -€212,182 | -55.2% |
| Fixed assets | 21/28 | €2,108 | €23,594 | +€21,486 | +1,019% |
| Tangible fixed assets | 22/27 | €2,108 | €23,594 | +€21,486 | +1,019% |
| Plant, machinery and equipment | 23 | €429 | €2,207 | +€1,779 | +415% |
| Other tangible fixed assets | 26 | €1,679 | €21,386 | +€19,707 | +1,173% |
| Current assets | 29/58 | €382,068 | €148,401 | -€233,668 | -61.2% |
| Amounts receivable after more than one year | 29 | €37,000 | €37,000 | = | 0.0% |
| Other amounts receivable | 291 | €37,000 | €37,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €40,863 | - | -€40,863 | |
| Trade receivables | 40 | €19,618 | - | -€19,618 | |
| Other amounts receivable | 41 | €21,245 | - | -€21,245 | |
| Current investments | 50/53 | €65,000 | €65,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €233,483 | €37,913 | -€195,570 | -83.8% |
| Deferred charges and accrued income | 490/1 | €5,722 | €8,487 | +€2,765 | +48.3% |
| Total equity and liabilities | 10/49 | €384,176 | €171,994 | -€212,182 | -55.2% |
| Equity | 10/15 | €294,301 | €115,189 | -€179,112 | -60.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €291,801 | €112,689 | -€179,112 | -61.4% |
| Distributable reserves | 133 | €291,801 | €112,689 | -€179,112 | -61.4% |
| Amounts payable | 17/49 | €89,876 | €56,806 | -€33,070 | -36.8% |
| Amounts payable within one year | 42/48 | €88,489 | €55,453 | -€33,036 | -37.3% |
| Trade debts | 44 | €2,031 | €1,295 | -€735 | -36.2% |
| Suppliers | 440/4 | €2,031 | €1,295 | -€735 | -36.2% |
| Taxes, remuneration and social security | 45 | €85,600 | €28,668 | -€56,931 | -66.5% |
| Taxes | 450/3 | €85,600 | €28,668 | -€56,931 | -66.5% |
| Other amounts payable | 47/48 | €859 | €25,490 | +€24,631 | +2,867% |
| Accrued charges and deferred income | 492/3 | €1,387 | €1,353 | -€34 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,047 | €2,821 | +€1,774 | +169% |
| Other operating charges | 640/8 | €556 | €789 | +€233 | +42.0% |
| Gross operating margin | 9900 | €115,152 | -€8,494 | -€123,647 | |
| Operating profit (loss) | 9901 | €113,549 | -€12,105 | -€125,654 | |
| Financial income | 75/76B | €2,235 | €2,976 | +€741 | +33.1% |
| Recurring financial income | 75 | €2,235 | €2,976 | +€741 | +33.1% |
| Financial charges | 65/66B | €2,068 | €1,369 | -€700 | -33.8% |
| Recurring financial charges | 65 | €2,068 | €1,369 | -€700 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €113,715 | -€10,498 | -€124,213 | |
| Income taxes | 67/77 | €29,756 | €134 | -€29,622 | -99.5% |
| Profit (loss) for the period | 9904 | €83,959 | -€10,632 | -€94,591 | |
| Profit (loss) for the period to be appropriated | 9905 | €83,959 | -€10,632 | -€94,591 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.