Dr. Peeters Michaël: 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 Michaël
Largest movements
- Receivables after one year +€165,571
new in 2025: €165,571
- Current investments -€50,906
down €50,906 (-100%), from €50,906 to €0
- Tangible fixed assets -€48,667
down €48,667 (-46.9%), from €103,827 to €55,161
of which Land and buildings: -€45,662
- Cash +€35,737
up €35,737 (+8.6%), from €416,676 to €452,414
mainly Other debts (+€177,402) and Net result for the year (+€158,318)
- Receivables within one year -€7,837
down €7,837 (-31.6%), from €24,837 to €17,000
- Other debts +€177,402
up €177,402 (+331%), from €53,627 to €231,030
- Reserves -€64,620
down €64,620 (-15.5%), from €415,878 to €351,258
of which Distributable reserves: -€64,620
- Tax, wage and social debts +€42,915
up €42,915 (+2,569%), from €1,671 to €44,586
- Debts after one year -€36,261
down €36,261 (-100%), from €36,261 to €0
- Current portion of long-term debt -€20,635
down €20,635 (-36.3%), from €56,897 to €36,261
- Gross operating margin +€72,172
up €72,172 (+33.6%), from €214,803 to €286,975
- Taxes +€25,390
up €25,390 (+45.8%), from €55,490 to €80,880
- Financial income +€6,672
up €6,672 (+612%), from €1,090 to €7,762
- Financial charges -€4,055
down €4,055 (-51.0%), from €7,944 to €3,889
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 | €600,108 | €693,179 | +€93,072 | +15.5% |
| Fixed assets | 21/28 | €103,827 | €55,161 | -€48,667 | -46.9% |
| Tangible fixed assets | 22/27 | €103,827 | €55,161 | -€48,667 | -46.9% |
| Land and buildings | 22 | €93,867 | €48,206 | -€45,662 | -48.6% |
| Plant, machinery and equipment | 23 | €5,230 | €3,326 | -€1,904 | -36.4% |
| Furniture and vehicles | 24 | €4,730 | €3,629 | -€1,101 | -23.3% |
| Current assets | 29/58 | €496,280 | €638,019 | +€141,738 | +28.6% |
| Amounts receivable after more than one year | 29 | - | €165,571 | +€165,571 | |
| Other amounts receivable | 291 | - | €165,571 | +€165,571 | |
| Amounts receivable within one year | 40/41 | €24,837 | €17,000 | -€7,837 | -31.6% |
| Other amounts receivable | 41 | €24,837 | €17,000 | -€7,837 | -31.6% |
| Current investments | 50/53 | €50,906 | €0 | -€50,906 | -100% |
| Cash at bank and in hand | 54/58 | €416,676 | €452,414 | +€35,737 | +8.6% |
| Deferred charges and accrued income | 490/1 | €3,860 | €3,034 | -€827 | -21.4% |
| Total equity and liabilities | 10/49 | €600,108 | €693,179 | +€93,072 | +15.5% |
| Equity | 10/15 | €428,278 | €363,658 | -€64,620 | -15.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €415,878 | €351,258 | -€64,620 | -15.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €415,878 | €351,258 | -€64,620 | -15.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €171,830 | €329,521 | +€157,691 | +91.8% |
| Amounts payable after more than one year | 17 | €36,261 | €0 | -€36,261 | -100% |
| Financial debts | 170/4 | €36,261 | €0 | -€36,261 | -100% |
| Amounts payable within one year | 42/48 | €130,931 | €321,340 | +€190,409 | +145% |
| Current portion of amounts payable after more than one year | 42 | €56,897 | €36,261 | -€20,635 | -36.3% |
| Trade debts | 44 | €18,737 | €9,463 | -€9,274 | -49.5% |
| Suppliers | 440/4 | €18,737 | €9,463 | -€9,274 | -49.5% |
| Taxes, remuneration and social security | 45 | €1,671 | €44,586 | +€42,915 | +2,569% |
| Taxes | 450/3 | €1,671 | €44,586 | +€42,915 | +2,569% |
| Other amounts payable | 47/48 | €53,627 | €231,030 | +€177,402 | +331% |
| Accrued charges and deferred income | 492/3 | €4,637 | €8,181 | +€3,544 | +76.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,565 | €48,667 | -€898 | -1.8% |
| Other operating charges | 640/8 | €3,843 | €2,983 | -€860 | -22.4% |
| Gross operating margin | 9900 | €214,803 | €286,975 | +€72,172 | +33.6% |
| Operating profit (loss) | 9901 | €161,396 | €235,326 | +€73,930 | +45.8% |
| Financial income | 75/76B | €1,090 | €7,762 | +€6,672 | +612% |
| Recurring financial income | 75 | €1,090 | €7,762 | +€6,672 | +612% |
| Financial charges | 65/66B | €7,944 | €3,889 | -€4,055 | -51.0% |
| Recurring financial charges | 65 | €7,944 | €3,889 | -€4,055 | -51.0% |
| Profit (loss) for the period before taxes | 9903 | €154,541 | €239,198 | +€84,656 | +54.8% |
| Income taxes | 67/77 | €55,490 | €80,880 | +€25,390 | +45.8% |
| Profit (loss) for the period | 9904 | €99,052 | €158,318 | +€59,266 | +59.8% |
| Profit (loss) for the period to be appropriated | 9905 | €99,052 | €158,318 | +€59,266 | +59.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.