DR. DIRK PEERAER: 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. DIRK PEERAER
Largest movements
- Cash +€98,324
up €98,324 (+252%), from €39,006 to €137,330
mainly Depreciation (+€84,154) and Net result for the year (+€24,599)
- Tangible fixed assets -€82,596
down €82,596 (-19.8%), from €417,950 to €335,354
of which Land and buildings: -€73,202
- Reserves +€20,849
up €20,849 (+14.0%), from €148,899 to €169,748
of which Distributable reserves: +€24,599
- Other debts -€6,737
down €6,737 (-27.0%), from €24,915 to €18,178
- Depreciation -€8,366
down €8,366 (-9.0%), from €92,520 to €84,154
- Taxes +€4,165
up €4,165 (+42.5%), from €9,792 to €13,957
- Gross operating margin +€3,771
up €3,771 (+3.3%), from €115,760 to €119,531
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 | €457,794 | €472,934 | +€15,140 | +3.3% |
| Fixed assets | 21/28 | €418,200 | €335,604 | -€82,596 | -19.8% |
| Tangible fixed assets | 22/27 | €417,950 | €335,354 | -€82,596 | -19.8% |
| Land and buildings | 22 | €382,377 | €309,175 | -€73,202 | -19.1% |
| Plant, machinery and equipment | 23 | €1,198 | €1,691 | +€493 | +41.1% |
| Furniture and vehicles | 24 | €34,376 | €24,488 | -€9,887 | -28.8% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €39,594 | €137,330 | +€97,736 | +247% |
| Amounts receivable within one year | 40/41 | €588 | - | -€588 | |
| Trade receivables | 40 | €588 | - | -€588 | |
| Cash at bank and in hand | 54/58 | €39,006 | €137,330 | +€98,324 | +252% |
| Total equity and liabilities | 10/49 | €457,794 | €472,934 | +€15,140 | +3.3% |
| Equity | 10/15 | €423,536 | €444,385 | +€20,849 | +4.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €148,899 | €169,748 | +€20,849 | +14.0% |
| Tax-exempt reserves | 132 | €8,438 | €4,688 | -€3,750 | -44.4% |
| Distributable reserves | 133 | €140,461 | €165,060 | +€24,599 | +17.5% |
| Profit (loss) carried forward | 14 | €256,045 | €256,045 | = | 0.0% |
| Provisions and deferred taxes | 16 | €4,345 | €2,414 | -€1,931 | -44.4% |
| Deferred taxes | 168 | €4,345 | €2,414 | -€1,931 | -44.4% |
| Amounts payable | 17/49 | €29,914 | €26,135 | -€3,778 | -12.6% |
| Amounts payable within one year | 42/48 | €29,914 | €26,135 | -€3,778 | -12.6% |
| Trade debts | 44 | €207 | - | -€207 | |
| Suppliers | 440/4 | €207 | - | -€207 | |
| Taxes, remuneration and social security | 45 | €4,792 | €7,957 | +€3,165 | +66.1% |
| Taxes | 450/3 | €4,792 | €7,957 | +€3,165 | +66.1% |
| Other amounts payable | 47/48 | €24,915 | €18,178 | -€6,737 | -27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,520 | €84,154 | -€8,366 | -9.0% |
| Other operating charges | 640/8 | €2,312 | €2,341 | +€30 | +1.3% |
| Gross operating margin | 9900 | €115,760 | €119,531 | +€3,771 | +3.3% |
| Operating profit (loss) | 9901 | €20,928 | €33,035 | +€12,107 | +57.9% |
| Financial charges | 65/66B | €126 | €160 | +€34 | +26.6% |
| Recurring financial charges | 65 | €126 | €160 | +€34 | +26.6% |
| Profit (loss) for the period before taxes | 9903 | €20,802 | €32,876 | +€12,074 | +58.0% |
| Transfer from deferred taxes | 780 | €5,681 | €5,681 | = | 0.0% |
| Income taxes | 67/77 | €9,792 | €13,957 | +€4,165 | +42.5% |
| Profit (loss) for the period | 9904 | €16,691 | €24,599 | +€7,908 | +47.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,691 | €24,599 | +€7,908 | +47.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.