Kathleen Peeters: what changed
Kathleen Peeters
Largest movements
- Cash -€182,268
down €182,268 (-49.8%), from €366,339 to €184,071
mainly Other debts (-€390,805) and Investment in fixed assets (net) (-€111,990)
- Tangible fixed assets +€96,302
up €96,302 (+1,352%), from €7,121 to €103,423
of which Land and buildings: +€98,428
- Current investments -€84,875
down €84,875 (-84.8%), from €100,074 to €15,200
- Other debts -€390,805
down €390,805 (-95.2%), from €410,328 to €19,523
- Reserves +€222,798
up €222,798 (+774%), from €28,770 to €251,568
- Gross operating margin +€49,311
up €49,311 (+20.2%), from €244,705 to €294,015
- Financial income +€14,657
up €14,657 (+2,725%), from €538 to €15,194
- Depreciation +€13,618
up €13,618 (+658%), from €2,071 to €15,689
- Taxes +€7,115
up €7,115 (+11.5%), from €61,952 to €69,068
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €476,210 | €307,811 | -€168,399 | -35.4% |
| Fixed assets | 21/28 | €7,121 | €103,423 | +€96,302 | +1,352% |
| Tangible fixed assets | 22/27 | €7,121 | €103,423 | +€96,302 | +1,352% |
| Land and buildings | 22 | - | €98,428 | +€98,428 | |
| Plant, machinery and equipment | 23 | €2,032 | €1,538 | -€494 | -24.3% |
| Furniture and vehicles | 24 | €5,089 | €3,457 | -€1,632 | -32.1% |
| Current assets | 29/58 | €469,089 | €204,388 | -€264,701 | -56.4% |
| Amounts receivable within one year | 40/41 | €379 | €2,766 | +€2,387 | +630% |
| Trade receivables | 40 | €367 | €2,766 | +€2,399 | +654% |
| Other amounts receivable | 41 | €12 | €0 | -€12 | -100% |
| Current investments | 50/53 | €100,074 | €15,200 | -€84,875 | -84.8% |
| Cash at bank and in hand | 54/58 | €366,339 | €184,071 | -€182,268 | -49.8% |
| Deferred charges and accrued income | 490/1 | €2,297 | €2,352 | +€55 | +2.4% |
| Total equity and liabilities | 10/49 | €476,210 | €307,811 | -€168,399 | -35.4% |
| Equity | 10/15 | €43,770 | €266,568 | +€222,798 | +509% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €28,770 | €251,568 | +€222,798 | +774% |
| Distributable reserves | 133 | €28,770 | €251,568 | +€222,798 | +774% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €432,440 | €41,244 | -€391,197 | -90.5% |
| Amounts payable within one year | 42/48 | €432,440 | €41,244 | -€391,197 | -90.5% |
| Trade debts | 44 | €1,759 | €2,497 | +€738 | +41.9% |
| Suppliers | 440/4 | €1,759 | €2,497 | +€738 | +41.9% |
| Taxes, remuneration and social security | 45 | €20,353 | €19,224 | -€1,130 | -5.6% |
| Taxes | 450/3 | €18,013 | €19,224 | +€1,210 | +6.7% |
| Remuneration and social security | 454/9 | €2,340 | €0 | -€2,340 | -100% |
| Other amounts payable | 47/48 | €410,328 | €19,523 | -€390,805 | -95.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,071 | €15,689 | +€13,618 | +658% |
| Other operating charges | 640/8 | €384 | €579 | +€194 | +50.5% |
| Gross operating margin | 9900 | €244,705 | €294,015 | +€49,311 | +20.2% |
| Operating profit (loss) | 9901 | €242,249 | €277,748 | +€35,499 | +14.7% |
| Financial income | 75/76B | €538 | €15,194 | +€14,657 | +2,725% |
| Recurring financial income | 75 | €538 | €15,194 | +€14,657 | +2,725% |
| Financial charges | 65/66B | -€147 | €1,077 | +€1,224 | |
| Recurring financial charges | 65 | -€147 | €1,077 | +€1,224 | |
| Profit (loss) for the period before taxes | 9903 | €242,934 | €291,865 | +€48,931 | +20.1% |
| Income taxes | 67/77 | €61,952 | €69,068 | +€7,115 | +11.5% |
| Profit (loss) for the period | 9904 | €180,981 | €222,798 | +€41,816 | +23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €180,981 | €222,798 | +€41,816 | +23.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.