Dr. PETER SCHOTTE: 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 SCHOTTE
Largest movements
- Cash +€62,752
up €62,752 (+20.4%), from €308,335 to €371,087
mainly Net result for the year (+€80,122) and Other debts (+€17,704)
- Tangible fixed assets -€8,063
down €8,063 (-36.2%), from €22,275 to €14,212
of which Other tangible fixed assets: -€6,099
- Reserves +€34,024
up €34,024 (+12.4%), from €274,358 to €308,382
- Other debts +€17,704
up €17,704 (+43.9%), from €40,345 to €58,049
- Depreciation -€3,990
down €3,990 (-27.9%), from €14,322 to €10,332
- Taxes +€2,962
up €2,962 (+10.2%), from €29,107 to €32,068
- Gross operating margin +€2,883
up €2,883 (+2.4%), from €121,207 to €124,089
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 | €334,410 | €387,099 | +€52,689 | +15.8% |
| Fixed assets | 21/28 | €24,075 | €16,012 | -€8,063 | -33.5% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €22,275 | €14,212 | -€8,063 | -36.2% |
| Plant, machinery and equipment | 23 | €9,517 | €7,553 | -€1,964 | -20.6% |
| Furniture and vehicles | 24 | €3,500 | €3,500 | = | 0.0% |
| Other tangible fixed assets | 26 | €9,258 | €3,159 | -€6,099 | -65.9% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €310,335 | €371,087 | +€60,752 | +19.6% |
| Amounts receivable within one year | 40/41 | €2,000 | €0 | -€2,000 | -100% |
| Trade receivables | 40 | €2,000 | €0 | -€2,000 | -100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €308,335 | €371,087 | +€62,752 | +20.4% |
| Total equity and liabilities | 10/49 | €334,410 | €387,099 | +€52,689 | +15.8% |
| Equity | 10/15 | €292,958 | €326,982 | +€34,024 | +11.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €274,358 | €308,382 | +€34,024 | +12.4% |
| Distributable reserves | 133 | €274,358 | €308,382 | +€34,024 | +12.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €41,452 | €60,117 | +€18,665 | +45.0% |
| Amounts payable within one year | 42/48 | €41,452 | €60,117 | +€18,665 | +45.0% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €1,107 | €2,068 | +€962 | +86.9% |
| Taxes | 450/3 | €1,107 | €2,068 | +€962 | +86.9% |
| Other amounts payable | 47/48 | €40,345 | €58,049 | +€17,704 | +43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,322 | €10,332 | -€3,990 | -27.9% |
| Other operating charges | 640/8 | €1,895 | €1,291 | -€604 | -31.9% |
| Gross operating margin | 9900 | €121,207 | €124,089 | +€2,883 | +2.4% |
| Operating profit (loss) | 9901 | €104,991 | €112,467 | +€7,476 | +7.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €176 | €276 | +€100 | +56.8% |
| Recurring financial charges | 65 | €176 | €276 | +€100 | +56.8% |
| Profit (loss) for the period before taxes | 9903 | €104,815 | €112,191 | +€7,376 | +7.0% |
| Income taxes | 67/77 | €29,107 | €32,068 | +€2,962 | +10.2% |
| Profit (loss) for the period | 9904 | €75,708 | €80,122 | +€4,414 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €75,708 | €80,122 | +€4,414 | +5.8% |
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 23 October 2026 via checked.be.