J. PELEMAN: 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.
J. PELEMAN
Largest movements
- Cash +€25,613
up €25,613 (+35.3%), from €72,530 to €98,144
mainly Net result for the year (+€27,928) and Receivables within one year (+€9,558)
- Receivables within one year -€9,558
down €9,558 (-35.6%), from €26,859 to €17,301
- Profit (loss) carried forward +€27,928
up €27,928 (+11.4%), from €244,197 to €272,125
- Debts after one year -€9,021
down €9,021 (-14.5%), from €62,215 to €53,194
- Other debts -€5,000
down €5,000 (-50.0%), from €10,000 to €5,000
- Gross operating margin +€10,465
up €10,465 (+41.2%), from €25,393 to €35,858
- Taxes +€2,061
up €2,061 (+41.9%), from €4,921 to €6,982
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 | €338,890 | €352,945 | +€14,055 | +4.1% |
| Fixed assets | 21/28 | €237,500 | €237,500 | = | 0.0% |
| Financial fixed assets | 28 | €237,500 | €237,500 | = | 0.0% |
| Current assets | 29/58 | €101,390 | €115,445 | +€14,055 | +13.9% |
| Amounts receivable within one year | 40/41 | €26,859 | €17,301 | -€9,558 | -35.6% |
| Other amounts receivable | 41 | €26,859 | €17,301 | -€9,558 | -35.6% |
| Cash at bank and in hand | 54/58 | €72,530 | €98,144 | +€25,613 | +35.3% |
| Deferred charges and accrued income | 490/1 | €2,000 | - | -€2,000 | |
| Total equity and liabilities | 10/49 | €338,890 | €352,945 | +€14,055 | +4.1% |
| Equity | 10/15 | €252,257 | €280,185 | +€27,928 | +11.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €244,197 | €272,125 | +€27,928 | +11.4% |
| Amounts payable | 17/49 | €86,633 | €72,760 | -€13,873 | -16.0% |
| Amounts payable after more than one year | 17 | €62,215 | €53,194 | -€9,021 | -14.5% |
| Financial debts | 170/4 | €62,215 | €53,194 | -€9,021 | -14.5% |
| Amounts payable within one year | 42/48 | €22,018 | €17,166 | -€4,852 | -22.0% |
| Current portion of amounts payable after more than one year | 42 | €8,873 | €9,021 | +€148 | +1.7% |
| Taxes, remuneration and social security | 45 | €3,146 | €3,145 | -€0 | 0.0% |
| Taxes | 450/3 | €3,146 | €3,145 | -€0 | 0.0% |
| Other amounts payable | 47/48 | €10,000 | €5,000 | -€5,000 | -50.0% |
| Accrued charges and deferred income | 492/3 | €2,400 | €2,400 | = | 0.0% |
| Other operating charges | 640/8 | €182 | €208 | +€26 | +14.2% |
| Gross operating margin | 9900 | €25,393 | €35,858 | +€10,465 | +41.2% |
| Operating profit (loss) | 9901 | €25,211 | €35,650 | +€10,439 | +41.4% |
| Financial income | 75/76B | €780 | €503 | -€277 | -35.5% |
| Recurring financial income | 75 | €780 | €503 | -€277 | -35.5% |
| Financial charges | 65/66B | €1,388 | €1,244 | -€145 | -10.4% |
| Recurring financial charges | 65 | €1,388 | €1,244 | -€145 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €24,603 | €34,910 | +€10,307 | +41.9% |
| Income taxes | 67/77 | €4,921 | €6,982 | +€2,061 | +41.9% |
| Profit (loss) for the period | 9904 | €19,682 | €27,928 | +€8,246 | +41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,682 | €27,928 | +€8,246 | +41.9% |
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 16 October 2026 via checked.be.