GEORGES PETKIDIS: 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.
GEORGES PETKIDIS
Largest movements
- Cash -€12,856
down €12,856 (-32.0%), from €40,167 to €27,311
mainly Other debts (-€6,932) and Net result for the year (-€5,396)
- Tangible fixed assets -€7,084
down €7,084 (-67.1%), from €10,554 to €3,470
of which Furniture and vehicles: -€6,547
- Receivables within one year -€2,324
down €2,324 (-32.5%), from €7,141 to €4,817
of which Trade receivables: -€7,123
- Other debts -€6,932
down €6,932 (-98.3%), from €7,052 to €120
- Reserves -€5,000
down €5,000 (-17.3%), from €28,875 to €23,875
- Current portion of long-term debt -€4,400
down €4,400 (-66.4%), from €6,622 to €2,222
- Tax, wage and social debts -€2,928
down €2,928 (-46.9%), from €6,244 to €3,316
- Debts after one year -€2,222
no longer reported in 2025 (was €2,222)
- Gross operating margin -€27,320
down €27,320 (-85.3%), from €32,019 to €4,699
- Taxes -€8,700
down €8,700 (-93.3%), from €9,320 to €620
- Depreciation +€355
up €355 (+4.5%), from €7,843 to €8,198
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 | €58,434 | €36,119 | -€22,315 | -38.2% |
| Fixed assets | 21/28 | €10,644 | €3,560 | -€7,084 | -66.6% |
| Tangible fixed assets | 22/27 | €10,554 | €3,470 | -€7,084 | -67.1% |
| Plant, machinery and equipment | 23 | €1,029 | €492 | -€537 | -52.2% |
| Furniture and vehicles | 24 | €9,525 | €2,978 | -€6,547 | -68.7% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €47,790 | €32,559 | -€15,231 | -31.9% |
| Amounts receivable within one year | 40/41 | €7,141 | €4,817 | -€2,324 | -32.5% |
| Trade receivables | 40 | €7,123 | - | -€7,123 | |
| Other amounts receivable | 41 | €18 | €4,817 | +€4,799 | +26,870% |
| Cash at bank and in hand | 54/58 | €40,167 | €27,311 | -€12,856 | -32.0% |
| Deferred charges and accrued income | 490/1 | €481 | €431 | -€50 | -10.5% |
| Total equity and liabilities | 10/49 | €58,434 | €36,119 | -€22,315 | -38.2% |
| Equity | 10/15 | €35,682 | €30,286 | -€5,396 | -15.1% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €28,875 | €23,875 | -€5,000 | -17.3% |
| Distributable reserves | 133 | €28,875 | €23,875 | -€5,000 | -17.3% |
| Profit (loss) carried forward | 14 | €557 | €161 | -€396 | -71.1% |
| Amounts payable | 17/49 | €22,751 | €5,833 | -€16,918 | -74.4% |
| Amounts payable after more than one year | 17 | €2,222 | - | -€2,222 | |
| Financial debts | 170/4 | €2,222 | - | -€2,222 | |
| Amounts payable within one year | 42/48 | €20,530 | €5,833 | -€14,697 | -71.6% |
| Current portion of amounts payable after more than one year | 42 | €6,622 | €2,222 | -€4,400 | -66.4% |
| Trade debts | 44 | €613 | €176 | -€437 | -71.3% |
| Suppliers | 440/4 | €613 | €176 | -€437 | -71.3% |
| Taxes, remuneration and social security | 45 | €6,244 | €3,316 | -€2,928 | -46.9% |
| Taxes | 450/3 | €6,244 | €3,316 | -€2,928 | -46.9% |
| Other amounts payable | 47/48 | €7,052 | €120 | -€6,932 | -98.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,843 | €8,198 | +€355 | +4.5% |
| Other operating charges | 640/8 | €1,324 | €1,088 | -€236 | -17.8% |
| Gross operating margin | 9900 | €32,019 | €4,699 | -€27,320 | -85.3% |
| Operating profit (loss) | 9901 | €22,852 | -€4,587 | -€27,439 | |
| Financial income | 75/76B | €0 | €5 | +€5 | +5,230% |
| Recurring financial income | 75 | €0 | €5 | +€5 | +5,230% |
| Financial charges | 65/66B | €243 | €194 | -€48 | -20.0% |
| Recurring financial charges | 65 | €243 | €194 | -€48 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €22,610 | -€4,776 | -€27,386 | |
| Income taxes | 67/77 | €9,320 | €620 | -€8,700 | -93.3% |
| Profit (loss) for the period | 9904 | €13,290 | -€5,396 | -€18,686 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,290 | -€5,396 | -€18,686 |
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 28 October 2026 via checked.be.