Dr. Peeters Ellen: 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. Peeters Ellen
Largest movements
- Cash +€61,057
up €61,057 (+35.2%), from €173,529 to €234,585
mainly Other debts (+€149,175) and Net result for the year (+€107,616)
- Receivables within one year -€17,259
down €17,259 (-17.3%), from €99,861 to €82,602
of which Other amounts receivable: -€9,388
- Tangible fixed assets -€12,325
down €12,325 (-24.7%), from €49,972 to €37,647
- Other debts +€149,175
up €149,175 (+80.7%), from €184,876 to €334,051
- Reserves -€117,384
down €117,384 (-98.3%), from €119,459 to €2,075
- Gross operating margin -€8,404
down €8,404 (-5.3%), from €159,736 to €151,332
- Taxes -€2,619
down €2,619 (-7.9%), from €33,187 to €30,568
- Depreciation +€2,487
up €2,487 (+25.3%), from €9,838 to €12,325
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 | €323,362 | €355,294 | +€31,932 | +9.9% |
| Fixed assets | 21/28 | €49,972 | €37,647 | -€12,325 | -24.7% |
| Tangible fixed assets | 22/27 | €49,972 | €37,647 | -€12,325 | -24.7% |
| Furniture and vehicles | 24 | €49,972 | €37,647 | -€12,325 | -24.7% |
| Current assets | 29/58 | €273,390 | €317,647 | +€44,257 | +16.2% |
| Amounts receivable within one year | 40/41 | €99,861 | €82,602 | -€17,259 | -17.3% |
| Trade receivables | 40 | €80,041 | €72,170 | -€7,871 | -9.8% |
| Other amounts receivable | 41 | €19,820 | €10,432 | -€9,388 | -47.4% |
| Cash at bank and in hand | 54/58 | €173,529 | €234,585 | +€61,057 | +35.2% |
| Deferred charges and accrued income | 490/1 | - | €460 | +€460 | |
| Total equity and liabilities | 10/49 | €323,362 | €355,294 | +€31,932 | +9.9% |
| Equity | 10/15 | €138,059 | €20,675 | -€117,384 | -85.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €119,459 | €2,075 | -€117,384 | -98.3% |
| Distributable reserves | 133 | €119,459 | €2,075 | -€117,384 | -98.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €185,303 | €334,619 | +€149,316 | +80.6% |
| Amounts payable within one year | 42/48 | €185,303 | €334,619 | +€149,316 | +80.6% |
| Trade debts | 44 | €426 | €567 | +€141 | +33.1% |
| Suppliers | 440/4 | €426 | €567 | +€141 | +33.1% |
| Other amounts payable | 47/48 | €184,876 | €334,051 | +€149,175 | +80.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,838 | €12,325 | +€2,487 | +25.3% |
| Other operating charges | 640/8 | €891 | €640 | -€251 | -28.2% |
| Gross operating margin | 9900 | €159,736 | €151,332 | -€8,404 | -5.3% |
| Operating profit (loss) | 9901 | €149,008 | €138,367 | -€10,641 | -7.1% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €186 | €182 | -€4 | -2.2% |
| Recurring financial charges | 65 | €186 | €182 | -€4 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | €148,821 | €138,185 | -€10,637 | -7.1% |
| Income taxes | 67/77 | €33,187 | €30,568 | -€2,619 | -7.9% |
| Profit (loss) for the period | 9904 | €115,634 | €107,616 | -€8,017 | -6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €115,634 | €107,616 | -€8,017 | -6.9% |
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 13 October 2026 via checked.be.