Dr. PETER VERSPEELT: 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 VERSPEELT
Largest movements
- Receivables within one year -€104,509
down €104,509 (-100%), from €104,509 to €0
- Cash +€2,531
up €2,531 (+31.9%), from €7,931 to €10,463
mainly Receivables within one year (+€104,509) and Deferred charges and accrued income (+€2,143)
- Deferred charges and accrued income -€2,143
down €2,143 (-97.4%), from €2,200 to €57
- Profit (loss) carried forward -€83,001
down €83,001 (-115%), from -€71,870 to -€154,871
- Accrued charges and deferred income -€11,440
down €11,440 (-58.0%), from €19,740 to €8,300
- Tax, wage and social debts -€5,827
down €5,827 (-100%), from €5,827 to €0
- Other debts -€3,749
down €3,749 (-3.3%), from €114,219 to €110,470
- Financial charges -€25,451
down €25,451 (-18.5%), from €137,628 to €112,177
- Gross operating margin -€5,776
down €5,776 (-15.9%), from €36,341 to €30,566
- Other operating charges +€3,725
up €3,725 (+1,171%), from €318 to €4,043
- Financial income +€732
up €732 (+38.1%), from €1,921 to €2,653
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 | €114,660 | €10,539 | -€104,120 | -90.8% |
| Fixed assets | 21/28 | €20 | €20 | = | 0.0% |
| Financial fixed assets | 28 | €20 | €20 | = | 0.0% |
| Current assets | 29/58 | €114,640 | €10,519 | -€104,120 | -90.8% |
| Amounts receivable within one year | 40/41 | €104,509 | €0 | -€104,509 | -100% |
| Other amounts receivable | 41 | €104,509 | €0 | -€104,509 | -100% |
| Cash at bank and in hand | 54/58 | €7,931 | €10,463 | +€2,531 | +31.9% |
| Deferred charges and accrued income | 490/1 | €2,200 | €57 | -€2,143 | -97.4% |
| Total equity and liabilities | 10/49 | €114,660 | €10,539 | -€104,120 | -90.8% |
| Equity | 10/15 | -€25,850 | -€108,851 | -€83,001 | -321% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €27,428 | €27,428 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €25,569 | €25,569 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,870 | -€154,871 | -€83,001 | -115% |
| Amounts payable | 17/49 | €140,509 | €119,390 | -€21,119 | -15.0% |
| Amounts payable within one year | 42/48 | €120,769 | €111,090 | -€9,679 | -8.0% |
| Trade debts | 44 | €723 | €620 | -€104 | -14.4% |
| Suppliers | 440/4 | €723 | €620 | -€104 | -14.4% |
| Taxes, remuneration and social security | 45 | €5,827 | €0 | -€5,827 | -100% |
| Taxes | 450/3 | €5,827 | €0 | -€5,827 | -100% |
| Other amounts payable | 47/48 | €114,219 | €110,470 | -€3,749 | -3.3% |
| Accrued charges and deferred income | 492/3 | €19,740 | €8,300 | -€11,440 | -58.0% |
| Other operating charges | 640/8 | €318 | €4,043 | +€3,725 | +1,171% |
| Gross operating margin | 9900 | €36,341 | €30,566 | -€5,776 | -15.9% |
| Operating profit (loss) | 9901 | €36,023 | €26,523 | -€9,500 | -26.4% |
| Financial income | 75/76B | €1,921 | €2,653 | +€732 | +38.1% |
| Recurring financial income | 75 | €1,921 | €2,653 | +€732 | +38.1% |
| Financial charges | 65/66B | €137,628 | €112,177 | -€25,451 | -18.5% |
| Recurring financial charges | 65 | €137,628 | €112,177 | -€25,451 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | -€99,684 | -€83,001 | +€16,683 | +16.7% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€99,684 | -€83,001 | +€16,683 | +16.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€99,684 | -€83,001 | +€16,683 | +16.7% |
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 15 October 2026 via checked.be.