Jo 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.
Jo Peeters
Largest movements
- Cash -€23,267
down €23,267 (-97.1%), from €23,970 to €703
mainly Net result for the year (-€20,482) and Trade debts (-€3,705)
- Tangible fixed assets +€534
up €534 (+583%), from €92 to €626
- Receivables within one year -€414
down €414 (-26.6%), from €1,556 to €1,142
- Profit (loss) carried forward -€20,482
down €20,482 (-181%), from -€11,287 to -€31,769
- Other debts +€4,866
up €4,866 (+47.8%), from €10,179 to €15,045
- Trade debts -€3,705
down €3,705 (-32.4%), from €11,436 to €7,732
- Debts after one year -€2,703
no longer reported in 2025 (was €2,703)
- Tax, wage and social debts -€753
down €753 (-14.0%), from €5,364 to €4,610
of which Remuneration and social security: -€1,740
- Gross operating margin -€32,389
down €32,389, from €13,902 to -€18,487
- Depreciation -€5,300
down €5,300 (-90.9%), from €5,830 to €530
- Taxes -€681
no longer reported in 2025 (was €681)
- Financial charges -€304
down €304 (-33.4%), from €910 to €606
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 | €27,983 | €4,813 | -€23,170 | -82.8% |
| Formation expenses | 20 | €983 | €745 | -€238 | -24.2% |
| Fixed assets | 21/28 | €92 | €626 | +€534 | +583% |
| Tangible fixed assets | 22/27 | €92 | €626 | +€534 | +583% |
| Plant, machinery and equipment | 23 | €92 | €626 | +€534 | +583% |
| Current assets | 29/58 | €26,908 | €3,442 | -€23,466 | -87.2% |
| Amounts receivable within one year | 40/41 | €1,556 | €1,142 | -€414 | -26.6% |
| Trade receivables | 40 | €1,556 | €1,142 | -€414 | -26.6% |
| Cash at bank and in hand | 54/58 | €23,970 | €703 | -€23,267 | -97.1% |
| Deferred charges and accrued income | 490/1 | €1,382 | €1,598 | +€216 | +15.6% |
| Total equity and liabilities | 10/49 | €27,983 | €4,813 | -€23,170 | -82.8% |
| Equity | 10/15 | -€5,087 | -€25,569 | -€20,482 | -403% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,287 | -€31,769 | -€20,482 | -181% |
| Amounts payable | 17/49 | €33,069 | €30,381 | -€2,688 | -8.1% |
| Amounts payable after more than one year | 17 | €2,703 | - | -€2,703 | |
| Financial debts | 170/4 | €2,703 | - | -€2,703 | |
| Amounts payable within one year | 42/48 | €30,367 | €30,381 | +€15 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €3,388 | €2,994 | -€393 | -11.6% |
| Trade debts | 44 | €11,436 | €7,732 | -€3,705 | -32.4% |
| Suppliers | 440/4 | €11,436 | €7,732 | -€3,705 | -32.4% |
| Taxes, remuneration and social security | 45 | €5,364 | €4,610 | -€753 | -14.0% |
| Taxes | 450/3 | €1,379 | €2,366 | +€987 | +71.6% |
| Remuneration and social security | 454/9 | €3,984 | €2,244 | -€1,740 | -43.7% |
| Other amounts payable | 47/48 | €10,179 | €15,045 | +€4,866 | +47.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,830 | €530 | -€5,300 | -90.9% |
| Other operating charges | 640/8 | €779 | €861 | +€82 | +10.5% |
| Gross operating margin | 9900 | €13,902 | -€18,487 | -€32,389 | |
| Operating profit (loss) | 9901 | €7,293 | -€19,877 | -€27,170 | |
| Financial income | 75/76B | €85 | €1 | -€83 | -98.4% |
| Recurring financial income | 75 | €85 | €1 | -€83 | -98.4% |
| Financial charges | 65/66B | €910 | €606 | -€304 | -33.4% |
| Recurring financial charges | 65 | €910 | €606 | -€304 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | €6,467 | -€20,482 | -€26,949 | |
| Income taxes | 67/77 | €681 | - | -€681 | |
| Profit (loss) for the period | 9904 | €5,786 | -€20,482 | -€26,268 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,786 | -€20,482 | -€26,268 |
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 17 October 2026 via checked.be.