Le Clef 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.
Le Clef Peeters
Largest movements
- Cash -€128,754
down €128,754 (-86.7%), from €148,577 to €19,823
mainly Contributions, distributions and other (-€150,000) and Trade debts (-€18,121)
- Receivables within one year -€4,222
down €4,222 (-92.1%), from €4,586 to €364
of which Other amounts receivable: -€4,586
- Stocks and contracts -€3,294
down €3,294 (-8.7%), from €37,647 to €34,353
- Reserves -€62,364
down €62,364 (-41.6%), from €149,966 to €87,602
- Trade debts -€18,121
down €18,121 (-58.5%), from €30,974 to €12,853
- Contributions -€16,551
down €16,551 (-89.0%), from €18,600 to €2,049
- Debts after one year -€16,119
down €16,119 (-75.9%), from €21,242 to €5,123
- Tax, wage and social debts -€10,097
down €10,097 (-52.5%), from €19,250 to €9,153
of which Taxes: -€5,653
- Staff costs +€16,989
up €16,989 (+8.8%), from €192,702 to €209,691
- Depreciation -€8,571
down €8,571 (-36.8%), from €23,310 to €14,739
- Gross operating margin +€6,437
up €6,437 (+2.0%), from €321,730 to €328,167
- Financial charges -€3,590
down €3,590 (-34.8%), from €10,304 to €6,713
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 | €271,035 | €136,968 | -€134,066 | -49.5% |
| Fixed assets | 21/28 | €74,124 | €75,637 | +€1,513 | +2.0% |
| Intangible fixed assets | 21 | €1,432 | €1,012 | -€420 | -29.3% |
| Tangible fixed assets | 22/27 | €72,692 | €74,625 | +€1,933 | +2.7% |
| Plant, machinery and equipment | 23 | €24,011 | €23,205 | -€806 | -3.4% |
| Furniture and vehicles | 24 | €281 | €9,629 | +€9,348 | +3,328% |
| Other tangible fixed assets | 26 | €48,401 | €41,791 | -€6,610 | -13.7% |
| Current assets | 29/58 | €196,910 | €61,331 | -€135,579 | -68.9% |
| Stocks and contracts in progress | 3 | €37,647 | €34,353 | -€3,294 | -8.7% |
| Stocks | 30/36 | €37,647 | €34,353 | -€3,294 | -8.7% |
| Amounts receivable within one year | 40/41 | €4,586 | €364 | -€4,222 | -92.1% |
| Trade receivables | 40 | - | €364 | +€364 | |
| Other amounts receivable | 41 | €4,586 | - | -€4,586 | |
| Cash at bank and in hand | 54/58 | €148,577 | €19,823 | -€128,754 | -86.7% |
| Deferred charges and accrued income | 490/1 | €6,100 | €6,791 | +€691 | +11.3% |
| Total equity and liabilities | 10/49 | €271,035 | €136,968 | -€134,066 | -49.5% |
| Equity | 10/15 | €168,566 | €89,651 | -€78,915 | -46.8% |
| Contributions | 10/11 | €18,600 | €2,049 | -€16,551 | -89.0% |
| Reserves | 13 | €149,966 | €87,602 | -€62,364 | -41.6% |
| Distributable reserves | 133 | €149,966 | €87,602 | -€62,364 | -41.6% |
| Amounts payable | 17/49 | €102,469 | €47,318 | -€55,151 | -53.8% |
| Amounts payable after more than one year | 17 | €21,242 | €5,123 | -€16,119 | -75.9% |
| Financial debts | 170/4 | €21,242 | €5,123 | -€16,119 | -75.9% |
| Amounts payable within one year | 42/48 | €80,870 | €41,883 | -€38,987 | -48.2% |
| Current portion of amounts payable after more than one year | 42 | €19,523 | €16,119 | -€3,404 | -17.4% |
| Financial debts | 43 | €7,529 | - | -€7,529 | |
| Credit institutions | 430/8 | €7,529 | - | -€7,529 | |
| Trade debts | 44 | €30,974 | €12,853 | -€18,121 | -58.5% |
| Suppliers | 440/4 | €30,974 | €12,853 | -€18,121 | -58.5% |
| Taxes, remuneration and social security | 45 | €19,250 | €9,153 | -€10,097 | -52.5% |
| Taxes | 450/3 | €7,783 | €2,130 | -€5,653 | -72.6% |
| Remuneration and social security | 454/9 | €11,467 | €7,024 | -€4,444 | -38.8% |
| Other amounts payable | 47/48 | €3,594 | €3,758 | +€164 | +4.6% |
| Accrued charges and deferred income | 492/3 | €356 | €312 | -€45 | -12.6% |
| Remuneration, social security and pensions | 62 | €192,702 | €209,691 | +€16,989 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,310 | €14,739 | -€8,571 | -36.8% |
| Other operating charges | 640/8 | €3,796 | €5,085 | +€1,288 | +33.9% |
| Non-recurring operating charges | 66A | - | €1,748 | +€1,748 | |
| Gross operating margin | 9900 | €321,730 | €328,167 | +€6,437 | +2.0% |
| Operating profit (loss) | 9901 | €101,922 | €96,905 | -€5,017 | -4.9% |
| Financial income | 75/76B | €326 | €656 | +€329 | +101% |
| Recurring financial income | 75 | €326 | €656 | +€329 | +101% |
| Financial charges | 65/66B | €10,304 | €6,713 | -€3,590 | -34.8% |
| Recurring financial charges | 65 | €10,304 | €6,713 | -€3,590 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | €91,944 | €90,847 | -€1,097 | -1.2% |
| Income taxes | 67/77 | €20,495 | €19,762 | -€732 | -3.6% |
| Profit (loss) for the period | 9904 | €71,450 | €71,085 | -€365 | -0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €71,450 | €71,085 | -€365 | -0.5% |
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 31 October 2026 via checked.be.