JAN PEETERS: 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.
JAN PEETERS
Largest movements
- Current investments +€24,000
up €24,000 (+20.5%), from €117,218 to €141,217
- Cash -€18,852
down €18,852 (-8.1%), from €233,439 to €214,588
mainly Current investments (-€24,000) and Debts after one year (-€12,976)
- Deferred charges and accrued income -€16,607
down €16,607 (-76.7%), from €21,662 to €5,056
- Tangible fixed assets -€10,028
down €10,028 (-17.2%), from €58,448 to €48,419
of which Leasing and similar rights: -€12,712
- Trade debts +€15,910
up €15,910 (+827%), from €1,923 to €17,833
- Debts after one year -€12,976
down €12,976 (-58.1%), from €22,326 to €9,350
- Tax, wage and social debts -€11,481
down €11,481 (-66.4%), from €17,293 to €5,812
of which Remuneration and social security: -€7,450
- Reserves -€9,583
down €9,583 (-2.4%), from €402,771 to €393,188
- Gross operating margin -€39,607
down €39,607 (-22.1%), from €179,572 to €139,965
- Taxes -€9,592
down €9,592 (-98.0%), from €9,785 to €193
- Staff costs +€7,082
up €7,082 (+5.9%), from €120,335 to €127,418
- Financial charges -€2,155
down €2,155 (-44.4%), from €4,859 to €2,704
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 | €503,370 | €484,017 | -€19,353 | -3.8% |
| Fixed assets | 21/28 | €58,448 | €48,419 | -€10,028 | -17.2% |
| Tangible fixed assets | 22/27 | €58,448 | €48,419 | -€10,028 | -17.2% |
| Land and buildings | 22 | €17,016 | €16,101 | -€915 | -5.4% |
| Plant, machinery and equipment | 23 | €2,455 | €3,298 | +€843 | +34.3% |
| Furniture and vehicles | 24 | €3,833 | €6,589 | +€2,756 | +71.9% |
| Leasing and similar rights | 25 | €35,144 | €22,431 | -€12,712 | -36.2% |
| Current assets | 29/58 | €444,922 | €435,597 | -€9,325 | -2.1% |
| Stocks and contracts in progress | 3 | €16,191 | €14,202 | -€1,988 | -12.3% |
| Stocks | 30/36 | €16,191 | €14,202 | -€1,988 | -12.3% |
| Amounts receivable within one year | 40/41 | €56,413 | €60,535 | +€4,122 | +7.3% |
| Trade receivables | 40 | €15,951 | €20,612 | +€4,661 | +29.2% |
| Other amounts receivable | 41 | €40,461 | €39,923 | -€539 | -1.3% |
| Current investments | 50/53 | €117,218 | €141,217 | +€24,000 | +20.5% |
| Cash at bank and in hand | 54/58 | €233,439 | €214,588 | -€18,852 | -8.1% |
| Deferred charges and accrued income | 490/1 | €21,662 | €5,056 | -€16,607 | -76.7% |
| Total equity and liabilities | 10/49 | €503,370 | €484,017 | -€19,353 | -3.8% |
| Equity | 10/15 | €422,671 | €413,088 | -€9,583 | -2.3% |
| Contributions | 10/11 | €19,900 | €19,900 | = | 0.0% |
| Reserves | 13 | €402,771 | €393,188 | -€9,583 | -2.4% |
| Distributable reserves | 133 | €402,771 | €393,188 | -€9,583 | -2.4% |
| Amounts payable | 17/49 | €80,698 | €70,928 | -€9,770 | -12.1% |
| Amounts payable after more than one year | 17 | €22,326 | €9,350 | -€12,976 | -58.1% |
| Financial debts | 170/4 | €22,326 | €9,350 | -€12,976 | -58.1% |
| Amounts payable within one year | 42/48 | €58,364 | €61,578 | +€3,214 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €12,803 | €12,976 | +€173 | +1.4% |
| Financial debts | 43 | €24,167 | €24,167 | = | 0.0% |
| Credit institutions | 430/8 | €24,167 | €24,167 | = | 0.0% |
| Trade debts | 44 | €1,923 | €17,833 | +€15,910 | +827% |
| Suppliers | 440/4 | €1,923 | €17,833 | +€15,910 | +827% |
| Advances received on contracts in progress | 46 | €396 | - | -€396 | |
| Taxes, remuneration and social security | 45 | €17,293 | €5,812 | -€11,481 | -66.4% |
| Taxes | 450/3 | €4,843 | €812 | -€4,031 | -83.2% |
| Remuneration and social security | 454/9 | €12,450 | €5,000 | -€7,450 | -59.8% |
| Other amounts payable | 47/48 | €1,783 | €790 | -€993 | -55.7% |
| Accrued charges and deferred income | 492/3 | €8 | - | -€8 | |
| Non-recurring operating income | 76A | - | €304 | +€304 | |
| Remuneration, social security and pensions | 62 | €120,335 | €127,418 | +€7,082 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,341 | €18,214 | -€127 | -0.7% |
| Other operating charges | 640/8 | €4,723 | €4,115 | -€608 | -12.9% |
| Non-recurring operating charges | 66A | €3,165 | €342 | -€2,823 | -89.2% |
| Gross operating margin | 9900 | €179,572 | €139,965 | -€39,607 | -22.1% |
| Operating profit (loss) | 9901 | €33,007 | -€10,123 | -€43,131 | |
| Financial income | 75/76B | €4,345 | €3,438 | -€907 | -20.9% |
| Recurring financial income | 75 | €4,345 | €3,438 | -€907 | -20.9% |
| Financial charges | 65/66B | €4,859 | €2,704 | -€2,155 | -44.4% |
| Recurring financial charges | 65 | €4,859 | €2,704 | -€2,155 | -44.4% |
| Profit (loss) for the period before taxes | 9903 | €32,493 | -€9,390 | -€41,882 | |
| Income taxes | 67/77 | €9,785 | €193 | -€9,592 | -98.0% |
| Profit (loss) for the period | 9904 | €22,708 | -€9,583 | -€32,291 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,708 | -€9,583 | -€32,291 |
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 20 October 2026 via checked.be.