Dr. Peelman I.: 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. Peelman I.
Largest movements
- Receivables within one year -€235,062
down €235,062 (-76.4%), from €307,641 to €72,580
- Tangible fixed assets +€75,394
up €75,394 (+13.0%), from €582,052 to €657,446
of which Land and buildings: +€76,240
- Cash +€22,523
up €22,523 (+34.8%), from €64,718 to €87,241
mainly Receivables within one year (+€235,062) and Net result for the year (+€152,520)
- Reserves -€104,370
down €104,370 (-16.5%), from €632,297 to €527,926
- Debts after one year -€51,991
down €51,991 (-21.2%), from €245,201 to €193,210
- Tax, wage and social debts +€13,651
up €13,651 (+37.8%), from €36,100 to €49,751
of which Taxes: +€13,916
- Gross operating margin +€54,198
up €54,198 (+28.6%), from €189,509 to €243,708
- Taxes +€15,630
up €15,630 (+32.3%), from €48,383 to €64,013
- Depreciation +€6,802
up €6,802 (+23.1%), from €29,485 to €36,287
- Financial income +€5,574
up €5,574 (+29.3%), from €19,049 to €24,623
of which Non-recurring financial income: +€13,208
- Staff costs -€3,420
down €3,420 (-100%), from €3,420 to €0
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 | €1,021,922 | €882,191 | -€139,730 | -13.7% |
| Fixed assets | 21/28 | €582,052 | €657,446 | +€75,394 | +13.0% |
| Tangible fixed assets | 22/27 | €582,052 | €657,446 | +€75,394 | +13.0% |
| Land and buildings | 22 | €576,658 | €652,898 | +€76,240 | +13.2% |
| Plant, machinery and equipment | 23 | €3,194 | €2,485 | -€710 | -22.2% |
| Furniture and vehicles | 24 | €2,097 | €2,063 | -€34 | -1.6% |
| Other tangible fixed assets | 26 | €103 | €0 | -€103 | -100% |
| Current assets | 29/58 | €439,869 | €224,745 | -€215,124 | -48.9% |
| Amounts receivable within one year | 40/41 | €307,641 | €72,580 | -€235,062 | -76.4% |
| Other amounts receivable | 41 | €307,641 | €72,580 | -€235,062 | -76.4% |
| Cash at bank and in hand | 54/58 | €64,718 | €87,241 | +€22,523 | +34.8% |
| Deferred charges and accrued income | 490/1 | €67,510 | €64,924 | -€2,586 | -3.8% |
| Total equity and liabilities | 10/49 | €1,021,922 | €882,191 | -€139,730 | -13.7% |
| Equity | 10/15 | €682,297 | €577,926 | -€104,370 | -15.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €632,297 | €527,926 | -€104,370 | -16.5% |
| Distributable reserves | 133 | €632,297 | €527,926 | -€104,370 | -16.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €339,625 | €304,265 | -€35,360 | -10.4% |
| Amounts payable after more than one year | 17 | €245,201 | €193,210 | -€51,991 | -21.2% |
| Financial debts | 170/4 | €245,201 | €193,210 | -€51,991 | -21.2% |
| Amounts payable within one year | 42/48 | €94,355 | €111,055 | +€16,700 | +17.7% |
| Current portion of amounts payable after more than one year | 42 | €51,621 | €53,050 | +€1,429 | +2.8% |
| Trade debts | 44 | €5,744 | €7,495 | +€1,751 | +30.5% |
| Suppliers | 440/4 | €5,744 | €7,495 | +€1,751 | +30.5% |
| Taxes, remuneration and social security | 45 | €36,100 | €49,751 | +€13,651 | +37.8% |
| Taxes | 450/3 | €35,835 | €49,751 | +€13,916 | +38.8% |
| Remuneration and social security | 454/9 | €265 | €0 | -€265 | -100% |
| Other amounts payable | 47/48 | €891 | €760 | -€131 | -14.7% |
| Accrued charges and deferred income | 492/3 | €69 | €0 | -€69 | -100% |
| Remuneration, social security and pensions | 62 | €3,420 | €0 | -€3,420 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,485 | €36,287 | +€6,802 | +23.1% |
| Other operating charges | 640/8 | €4,299 | €4,122 | -€177 | -4.1% |
| Gross operating margin | 9900 | €189,509 | €243,708 | +€54,198 | +28.6% |
| Operating profit (loss) | 9901 | €152,305 | €203,298 | +€50,994 | +33.5% |
| Financial income | 75/76B | €19,049 | €24,623 | +€5,574 | +29.3% |
| Recurring financial income | 75 | €18,257 | €10,623 | -€7,634 | -41.8% |
| Non-recurring financial income | 76B | €792 | €14,000 | +€13,208 | +1,667% |
| Financial charges | 65/66B | €11,878 | €11,389 | -€489 | -4.1% |
| Recurring financial charges | 65 | €11,878 | €11,389 | -€489 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | €159,476 | €216,533 | +€57,057 | +35.8% |
| Income taxes | 67/77 | €48,383 | €64,013 | +€15,630 | +32.3% |
| Profit (loss) for the period | 9904 | €111,093 | €152,520 | +€41,427 | +37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €111,093 | €152,520 | +€41,427 | +37.3% |
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 29 October 2026 via checked.be.