Louise 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.
Louise Peeters
Largest movements
- Cash -€34,449
down €34,449 (-48.0%), from €71,697 to €37,248
mainly Tax, wage and social debts (-€15,634) and Receivables within one year (-€11,940)
- Receivables within one year +€11,940
up €11,940 (+756%), from €1,579 to €13,519
of which Other amounts receivable: +€12,389
- Tangible fixed assets -€2,328
down €2,328 (-36.4%), from €6,403 to €4,075
of which Furniture and vehicles: -€1,186
- Tax, wage and social debts -€15,634
no longer reported in 2025 (was €15,634)
- Reserves -€8,531
down €8,531 (-13.9%), from €61,590 to €53,059
- Gross operating margin -€87,128
down €87,128, from €80,589 to -€6,540
- Taxes -€15,634
no longer reported in 2025 (was €15,634)
- Depreciation -€955
down €955 (-29.1%), from €3,283 to €2,328
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 | €80,874 | €56,059 | -€24,815 | -30.7% |
| Fixed assets | 21/28 | €6,403 | €4,075 | -€2,328 | -36.4% |
| Tangible fixed assets | 22/27 | €6,403 | €4,075 | -€2,328 | -36.4% |
| Plant, machinery and equipment | 23 | €2,777 | €1,636 | -€1,142 | -41.1% |
| Furniture and vehicles | 24 | €3,625 | €2,439 | -€1,186 | -32.7% |
| Current assets | 29/58 | €74,471 | €51,985 | -€22,487 | -30.2% |
| Amounts receivable within one year | 40/41 | €1,579 | €13,519 | +€11,940 | +756% |
| Trade receivables | 40 | €449 | - | -€449 | |
| Other amounts receivable | 41 | €1,130 | €13,519 | +€12,389 | +1,096% |
| Cash at bank and in hand | 54/58 | €71,697 | €37,248 | -€34,449 | -48.0% |
| Deferred charges and accrued income | 490/1 | €1,195 | €1,218 | +€23 | +1.9% |
| Total equity and liabilities | 10/49 | €80,874 | €56,059 | -€24,815 | -30.7% |
| Equity | 10/15 | €64,590 | €56,059 | -€8,531 | -13.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €61,590 | €53,059 | -€8,531 | -13.9% |
| Distributable reserves | 133 | €61,590 | €53,059 | -€8,531 | -13.9% |
| Amounts payable | 17/49 | €16,284 | - | -€16,284 | |
| Amounts payable within one year | 42/48 | €15,635 | - | -€15,635 | |
| Trade debts | 44 | €1 | - | -€1 | |
| Suppliers | 440/4 | €1 | - | -€1 | |
| Taxes, remuneration and social security | 45 | €15,634 | - | -€15,634 | |
| Taxes | 450/3 | €15,634 | - | -€15,634 | |
| Accrued charges and deferred income | 492/3 | €649 | - | -€649 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,283 | €2,328 | -€955 | -29.1% |
| Other operating charges | 640/8 | €50 | - | -€50 | |
| Gross operating margin | 9900 | €80,589 | -€6,540 | -€87,128 | |
| Operating profit (loss) | 9901 | €77,256 | -€8,868 | -€86,124 | |
| Financial income | 75/76B | €49 | €397 | +€348 | +706% |
| Recurring financial income | 75 | €49 | €397 | +€348 | +706% |
| Financial charges | 65/66B | €81 | €60 | -€21 | -25.9% |
| Recurring financial charges | 65 | €81 | €60 | -€21 | -25.9% |
| Profit (loss) for the period before taxes | 9903 | €77,224 | -€8,531 | -€85,755 | |
| Income taxes | 67/77 | €15,634 | - | -€15,634 | |
| Profit (loss) for the period | 9904 | €61,590 | -€8,531 | -€70,121 | |
| Profit (loss) for the period to be appropriated | 9905 | €61,590 | -€8,531 | -€70,121 |
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.