GERT VAN PEEL: 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.
GERT VAN PEEL
Largest movements
- Receivables within one year -€34,591
down €34,591 (-51.0%), from €67,810 to €33,219
of which Other amounts receivable: -€20,046
- Current investments +€29,292
new in 2025: €29,292
- Tangible fixed assets -€24,496
down €24,496 (-11.2%), from €218,471 to €193,975
- Cash -€23,507
no longer reported in 2025 (was €23,507)
mainly Trade debts (-€56,529) and Current investments (-€29,292)
- Stocks and contracts -€3,348
down €3,348 (-18.5%), from €18,051 to €14,703
- Trade debts -€56,529
down €56,529 (-89.4%), from €63,239 to €6,709
- Debts after one year -€22,291
down €22,291 (-17.3%), from €129,189 to €106,898
- Reserves +€13,543
up €13,543 (+14.8%), from €91,394 to €104,937
- Tax, wage and social debts +€5,473
up €5,473 (+652%), from €840 to €6,313
of which Taxes: +€5,473
- Gross operating margin +€62,205
up €62,205 (+192%), from €32,361 to €94,566
- Taxes +€18,959
up €18,959 (+1,252%), from €1,514 to €20,473
- Depreciation +€4,738
up €4,738 (+20.1%), from €23,590 to €28,328
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 | €327,838 | €271,189 | -€56,649 | -17.3% |
| Fixed assets | 21/28 | €218,471 | €193,975 | -€24,496 | -11.2% |
| Tangible fixed assets | 22/27 | €218,471 | €193,975 | -€24,496 | -11.2% |
| Land and buildings | 22 | €154,846 | €146,759 | -€8,087 | -5.2% |
| Plant, machinery and equipment | 23 | €30,468 | €21,309 | -€9,159 | -30.1% |
| Furniture and vehicles | 24 | €33,157 | €25,907 | -€7,251 | -21.9% |
| Current assets | 29/58 | €109,368 | €77,214 | -€32,153 | -29.4% |
| Stocks and contracts in progress | 3 | €18,051 | €14,703 | -€3,348 | -18.5% |
| Stocks | 30/36 | €18,051 | €14,703 | -€3,348 | -18.5% |
| Amounts receivable within one year | 40/41 | €67,810 | €33,219 | -€34,591 | -51.0% |
| Trade receivables | 40 | €45,752 | €31,207 | -€14,545 | -31.8% |
| Other amounts receivable | 41 | €22,058 | €2,012 | -€20,046 | -90.9% |
| Current investments | 50/53 | - | €29,292 | +€29,292 | |
| Cash at bank and in hand | 54/58 | €23,507 | - | -€23,507 | |
| Total equity and liabilities | 10/49 | €327,838 | €271,189 | -€56,649 | -17.3% |
| Equity | 10/15 | €103,794 | €117,337 | +€13,543 | +13.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €91,394 | €104,937 | +€13,543 | +14.8% |
| Distributable reserves | 133 | €91,394 | €104,937 | +€13,543 | +14.8% |
| Amounts payable | 17/49 | €224,044 | €153,852 | -€70,192 | -31.3% |
| Amounts payable after more than one year | 17 | €129,189 | €106,898 | -€22,291 | -17.3% |
| Financial debts | 170/4 | €129,189 | €106,898 | -€22,291 | -17.3% |
| Amounts payable within one year | 42/48 | €94,855 | €46,954 | -€47,901 | -50.5% |
| Current portion of amounts payable after more than one year | 42 | €21,727 | €22,291 | +€564 | +2.6% |
| Trade debts | 44 | €63,239 | €6,709 | -€56,529 | -89.4% |
| Suppliers | 440/4 | €63,239 | €6,709 | -€56,529 | -89.4% |
| Taxes, remuneration and social security | 45 | €840 | €6,313 | +€5,473 | +652% |
| Taxes | 450/3 | - | €5,473 | +€5,473 | |
| Remuneration and social security | 454/9 | €840 | €840 | = | 0.0% |
| Other amounts payable | 47/48 | €9,050 | €11,641 | +€2,591 | +28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,590 | €28,328 | +€4,738 | +20.1% |
| Other operating charges | 640/8 | €1,737 | €2,018 | +€281 | +16.2% |
| Non-recurring operating charges | 66A | €393 | - | -€393 | |
| Gross operating margin | 9900 | €32,361 | €94,566 | +€62,205 | +192% |
| Operating profit (loss) | 9901 | €6,642 | €64,221 | +€57,579 | +867% |
| Financial income | 75/76B | €438 | €595 | +€157 | +36.0% |
| Recurring financial income | 75 | €438 | €595 | +€157 | +36.0% |
| Financial charges | 65/66B | €4,269 | €3,967 | -€302 | -7.1% |
| Recurring financial charges | 65 | €4,269 | €3,967 | -€302 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €2,810 | €60,849 | +€58,038 | +2,065% |
| Income taxes | 67/77 | €1,514 | €20,473 | +€18,959 | +1,252% |
| Profit (loss) for the period | 9904 | €1,296 | €40,376 | +€39,080 | +3,015% |
| Profit (loss) for the period to be appropriated | 9905 | €1,296 | €40,376 | +€39,080 | +3,015% |
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 30 October 2026 via checked.be.