DR. PETER DE MULDER: 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. PETER DE MULDER
Largest movements
- Cash +€158,280
up €158,280 (+53.8%), from €294,225 to €452,506
mainly Net result for the year (+€272,087) and Other debts (+€205,606)
- Tangible fixed assets -€46,246
down €46,246 (-5.4%), from €862,248 to €816,002
of which Furniture and vehicles: -€29,839
- Current investments +€40,000
new in 2025: €40,000
- Other debts +€205,606
up €205,606 (+76.1%), from €270,328 to €475,934
- Reserves -€77,368
down €77,368 (-9.0%), from €863,439 to €786,071
- Tax, wage and social debts +€22,271
up €22,271 (+350%), from €6,365 to €28,636
- Gross operating margin +€143,582
up €143,582 (+42.6%), from €337,014 to €480,596
- Taxes +€44,332
up €44,332 (+55.0%), from €80,542 to €124,875
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 | €1,160,938 | €1,314,876 | +€153,938 | +13.3% |
| Fixed assets | 21/28 | €862,248 | €816,002 | -€46,246 | -5.4% |
| Tangible fixed assets | 22/27 | €862,248 | €816,002 | -€46,246 | -5.4% |
| Land and buildings | 22 | €720,425 | €697,728 | -€22,697 | -3.2% |
| Plant, machinery and equipment | 23 | €2,160 | €0 | -€2,160 | -100% |
| Furniture and vehicles | 24 | €127,163 | €97,323 | -€29,839 | -23.5% |
| Other tangible fixed assets | 26 | €12,500 | €20,950 | +€8,450 | +67.6% |
| Current assets | 29/58 | €298,690 | €498,875 | +€200,184 | +67.0% |
| Amounts receivable within one year | 40/41 | €4,465 | €6,369 | +€1,904 | +42.6% |
| Trade receivables | 40 | €0 | €1,904 | +€1,904 | |
| Other amounts receivable | 41 | €4,465 | €4,465 | = | 0.0% |
| Current investments | 50/53 | - | €40,000 | +€40,000 | |
| Cash at bank and in hand | 54/58 | €294,225 | €452,506 | +€158,280 | +53.8% |
| Total equity and liabilities | 10/49 | €1,160,938 | €1,314,876 | +€153,938 | +13.3% |
| Equity | 10/15 | €882,039 | €804,671 | -€77,368 | -8.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €863,439 | €786,071 | -€77,368 | -9.0% |
| Distributable reserves | 133 | €863,439 | €786,071 | -€77,368 | -9.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €278,899 | €510,205 | +€231,306 | +82.9% |
| Amounts payable within one year | 42/48 | €278,899 | €510,205 | +€231,306 | +82.9% |
| Trade debts | 44 | €2,206 | €5,636 | +€3,430 | +155% |
| Suppliers | 440/4 | €2,206 | €5,636 | +€3,430 | +155% |
| Taxes, remuneration and social security | 45 | €6,365 | €28,636 | +€22,271 | +350% |
| Taxes | 450/3 | €6,365 | €28,636 | +€22,271 | +350% |
| Other amounts payable | 47/48 | €270,328 | €475,934 | +€205,606 | +76.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,687 | €58,529 | +€1,842 | +3.2% |
| Other operating charges | 640/8 | €6,904 | €5,531 | -€1,373 | -19.9% |
| Non-recurring operating charges | 66A | - | €212 | +€212 | |
| Gross operating margin | 9900 | €337,014 | €480,596 | +€143,582 | +42.6% |
| Operating profit (loss) | 9901 | €273,423 | €416,324 | +€142,900 | +52.3% |
| Financial income | 75/76B | €1,103 | €2,081 | +€979 | +88.7% |
| Recurring financial income | 75 | €1,103 | €2,081 | +€979 | +88.7% |
| Financial charges | 65/66B | €21,495 | €21,444 | -€51 | -0.2% |
| Recurring financial charges | 65 | €21,495 | €21,444 | -€51 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €253,032 | €396,962 | +€143,930 | +56.9% |
| Income taxes | 67/77 | €80,542 | €124,875 | +€44,332 | +55.0% |
| Profit (loss) for the period | 9904 | €172,489 | €272,087 | +€99,598 | +57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €172,489 | €272,087 | +€99,598 | +57.7% |
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 27 October 2026 via checked.be.