DR. GREET 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. GREET PEETERS
Largest movements
- Cash -€72,944
down €72,944 (-40.0%), from €182,338 to €109,393
mainly Contributions, distributions and other (-€165,000) and Deferred charges and accrued income (-€50,237)
- Deferred charges and accrued income +€50,237
up €50,237 (+254%), from €19,763 to €70,000
- Current investments +€27,191
up €27,191 (+52.2%), from €52,079 to €79,270
- Receivables within one year +€9,501
up €9,501 (+552%), from €1,723 to €11,224
of which Other amounts receivable: +€5,692
- Profit (loss) carried forward +€10,355
up €10,355 (+5.1%), from €203,387 to €213,741
- Tax, wage and social debts +€3,500
up €3,500 (+14.9%), from €23,512 to €27,012
of which Remuneration and social security: +€3,500
- Gross operating margin -€38,927
down €38,927 (-14.5%), from €268,275 to €229,347
- Taxes -€10,740
down €10,740 (-16.9%), from €63,586 to €52,847
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 | €257,483 | €271,411 | +€13,928 | +5.4% |
| Fixed assets | 21/28 | €1,581 | €1,524 | -€58 | -3.6% |
| Tangible fixed assets | 22/27 | €1,581 | €1,524 | -€58 | -3.6% |
| Furniture and vehicles | 24 | €1,581 | €1,524 | -€58 | -3.6% |
| Current assets | 29/58 | €255,902 | €269,887 | +€13,985 | +5.5% |
| Amounts receivable within one year | 40/41 | €1,723 | €11,224 | +€9,501 | +552% |
| Trade receivables | 40 | - | €3,810 | +€3,810 | |
| Other amounts receivable | 41 | €1,723 | €7,414 | +€5,692 | +330% |
| Current investments | 50/53 | €52,079 | €79,270 | +€27,191 | +52.2% |
| Cash at bank and in hand | 54/58 | €182,338 | €109,393 | -€72,944 | -40.0% |
| Deferred charges and accrued income | 490/1 | €19,763 | €70,000 | +€50,237 | +254% |
| Total equity and liabilities | 10/49 | €257,483 | €271,411 | +€13,928 | +5.4% |
| Equity | 10/15 | €223,847 | €234,201 | +€10,355 | +4.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €203,387 | €213,741 | +€10,355 | +5.1% |
| Amounts payable | 17/49 | €33,637 | €37,210 | +€3,573 | +10.6% |
| Amounts payable within one year | 42/48 | €33,637 | €37,210 | +€3,573 | +10.6% |
| Trade debts | 44 | €4,772 | €5,301 | +€530 | +11.1% |
| Suppliers | 440/4 | €4,772 | €5,301 | +€530 | +11.1% |
| Taxes, remuneration and social security | 45 | €23,512 | €27,012 | +€3,500 | +14.9% |
| Taxes | 450/3 | €23,512 | €23,512 | = | 0.0% |
| Remuneration and social security | 454/9 | - | €3,500 | +€3,500 | |
| Other amounts payable | 47/48 | €5,353 | €4,897 | -€457 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,279 | €1,552 | -€1,727 | -52.7% |
| Other operating charges | 640/8 | €776 | €461 | -€315 | -40.6% |
| Gross operating margin | 9900 | €268,275 | €229,347 | -€38,927 | -14.5% |
| Operating profit (loss) | 9901 | €264,220 | €227,334 | -€36,886 | -14.0% |
| Financial income | 75/76B | €370 | €962 | +€593 | +160% |
| Recurring financial income | 75 | €370 | €962 | +€593 | +160% |
| Financial charges | 65/66B | €70 | €94 | +€24 | +34.1% |
| Recurring financial charges | 65 | €70 | €94 | +€24 | +34.1% |
| Profit (loss) for the period before taxes | 9903 | €264,519 | €228,202 | -€36,317 | -13.7% |
| Income taxes | 67/77 | €63,586 | €52,847 | -€10,740 | -16.9% |
| Profit (loss) for the period | 9904 | €200,933 | €175,355 | -€25,578 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €200,933 | €175,355 | -€25,578 | -12.7% |
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 31 October 2026 via checked.be.