Dr. Loes 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. Loes Peeters
Largest movements
- Cash +€43,324
up €43,324 (+182%), from €23,837 to €67,161
mainly Net result for the year (+€82,072) and Tax, wage and social debts (+€2,369)
- Receivables within one year +€34,444
up €34,444 (+56.8%), from €60,682 to €95,126
of which Trade receivables: +€19,772
- Current investments +€6,000
new in 2025: €6,000
- Reserves +€81,239
up €81,239 (+111%), from €73,219 to €154,459
- Tax, wage and social debts +€2,369
up €2,369 (+27.5%), from €8,624 to €10,993
- Gross operating margin +€10,320
up €10,320 (+10.9%), from €94,310 to €104,630
- Taxes +€3,009
up €3,009 (+15.5%), from €19,374 to €22,383
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 | €85,970 | €169,593 | +€83,623 | +97.3% |
| Fixed assets | 21/28 | €1,452 | €1,306 | -€145 | -10.0% |
| Tangible fixed assets | 22/27 | €1,452 | €1,306 | -€145 | -10.0% |
| Other tangible fixed assets | 26 | €1,452 | €1,306 | -€145 | -10.0% |
| Current assets | 29/58 | €84,519 | €168,287 | +€83,768 | +99.1% |
| Amounts receivable within one year | 40/41 | €60,682 | €95,126 | +€34,444 | +56.8% |
| Trade receivables | 40 | €58,286 | €78,058 | +€19,772 | +33.9% |
| Other amounts receivable | 41 | €2,396 | €17,068 | +€14,672 | +612% |
| Current investments | 50/53 | - | €6,000 | +€6,000 | |
| Cash at bank and in hand | 54/58 | €23,837 | €67,161 | +€43,324 | +182% |
| Total equity and liabilities | 10/49 | €85,970 | €169,593 | +€83,623 | +97.3% |
| Equity | 10/15 | €75,719 | €156,959 | +€81,239 | +107% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €73,219 | €154,459 | +€81,239 | +111% |
| Distributable reserves | 133 | €73,219 | €154,459 | +€81,239 | +111% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €10,251 | €12,635 | +€2,384 | +23.3% |
| Amounts payable within one year | 42/48 | €10,251 | €12,635 | +€2,384 | +23.3% |
| Trade debts | 44 | €1,627 | €1,642 | +€15 | +0.9% |
| Suppliers | 440/4 | €1,627 | €1,642 | +€15 | +0.9% |
| Taxes, remuneration and social security | 45 | €8,624 | €10,993 | +€2,369 | +27.5% |
| Taxes | 450/3 | €8,624 | €10,993 | +€2,369 | +27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2 | €145 | +€143 | +7,205% |
| Other operating charges | 640/8 | €1,473 | €712 | -€762 | -51.7% |
| Gross operating margin | 9900 | €94,310 | €104,630 | +€10,320 | +10.9% |
| Operating profit (loss) | 9901 | €92,835 | €103,773 | +€10,938 | +11.8% |
| Financial income | 75/76B | €8 | €966 | +€958 | +11,557% |
| Recurring financial income | 75 | €8 | €966 | +€958 | +11,557% |
| Financial charges | 65/66B | €249 | €284 | +€35 | +13.9% |
| Recurring financial charges | 65 | €249 | €284 | +€35 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | €92,594 | €104,455 | +€11,861 | +12.8% |
| Income taxes | 67/77 | €19,374 | €22,383 | +€3,009 | +15.5% |
| Profit (loss) for the period | 9904 | €73,219 | €82,072 | +€8,853 | +12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €73,219 | €82,072 | +€8,853 | +12.1% |
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 25 October 2026 via checked.be.