Marleen PEERAER: 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.
Marleen PEERAER
Largest movements
- Current investments +€53,507
up €53,507 (+27.1%), from €197,493 to €251,000
- Tangible fixed assets -€5,593
down €5,593 (-8.0%), from €70,084 to €64,491
of which Other tangible fixed assets: -€5,593
- Reserves +€36,459
up €36,459 (+15.7%), from €232,773 to €269,232
of which Distributable reserves: +€37,351
- Tax, wage and social debts +€15,686
up €15,686 (+1,445%), from €1,086 to €16,772
- Financial income +€42,310
up €42,310 (+1,633%), from €2,592 to €44,901
- Taxes +€15,372
up €15,372 (+257%), from €5,992 to €21,364
- Gross operating margin -€3,971
down €3,971 (-14.6%), from €27,228 to €23,257
- Other operating charges -€2,161
down €2,161 (-42.3%), from €5,103 to €2,942
- Financial charges -€474
down €474 (-20.9%), from €2,273 to €1,799
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 | €298,433 | €350,694 | +€52,262 | +17.5% |
| Fixed assets | 21/28 | €70,084 | €64,491 | -€5,593 | -8.0% |
| Tangible fixed assets | 22/27 | €70,084 | €64,491 | -€5,593 | -8.0% |
| Land and buildings | 22 | €14,381 | €14,381 | = | 0.0% |
| Other tangible fixed assets | 26 | €55,704 | €50,110 | -€5,593 | -10.0% |
| Current assets | 29/58 | €228,348 | €286,203 | +€57,855 | +25.3% |
| Amounts receivable within one year | 40/41 | €18,141 | €19,290 | +€1,149 | +6.3% |
| Trade receivables | 40 | €337 | €909 | +€571 | +169% |
| Other amounts receivable | 41 | €17,803 | €18,381 | +€578 | +3.2% |
| Current investments | 50/53 | €197,493 | €251,000 | +€53,507 | +27.1% |
| Cash at bank and in hand | 54/58 | €11,922 | €15,086 | +€3,164 | +26.5% |
| Deferred charges and accrued income | 490/1 | €793 | €828 | +€35 | +4.4% |
| Total equity and liabilities | 10/49 | €298,433 | €350,694 | +€52,262 | +17.5% |
| Equity | 10/15 | €296,873 | €333,332 | +€36,459 | +12.3% |
| Contributions | 10/11 | €12,408 | €12,408 | = | 0.0% |
| Reserves | 13 | €232,773 | €269,232 | +€36,459 | +15.7% |
| Tax-exempt reserves | 132 | €892 | €0 | -€892 | -100% |
| Distributable reserves | 133 | €231,881 | €269,232 | +€37,351 | +16.1% |
| Profit (loss) carried forward | 14 | €51,692 | €51,692 | = | 0.0% |
| Amounts payable | 17/49 | €1,559 | €17,362 | +€15,802 | +1,013% |
| Amounts payable within one year | 42/48 | €1,559 | €17,362 | +€15,802 | +1,013% |
| Trade debts | 44 | €474 | €590 | +€116 | +24.5% |
| Suppliers | 440/4 | €474 | €590 | +€116 | +24.5% |
| Taxes, remuneration and social security | 45 | €1,086 | €16,772 | +€15,686 | +1,445% |
| Taxes | 450/3 | €1,086 | €16,772 | +€15,686 | +1,445% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,593 | €5,593 | = | 0.0% |
| Other operating charges | 640/8 | €5,103 | €2,942 | -€2,161 | -42.3% |
| Gross operating margin | 9900 | €27,228 | €23,257 | -€3,971 | -14.6% |
| Operating profit (loss) | 9901 | €16,531 | €14,721 | -€1,810 | -11.0% |
| Financial income | 75/76B | €2,592 | €44,901 | +€42,310 | +1,633% |
| Recurring financial income | 75 | €2,592 | €44,901 | +€42,310 | +1,633% |
| Financial charges | 65/66B | €2,273 | €1,799 | -€474 | -20.9% |
| Recurring financial charges | 65 | €2,273 | €1,799 | -€474 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €16,850 | €57,824 | +€40,974 | +243% |
| Income taxes | 67/77 | €5,992 | €21,364 | +€15,372 | +257% |
| Profit (loss) for the period | 9904 | €10,857 | €36,459 | +€25,602 | +236% |
| Profit (loss) for the period to be appropriated | 9905 | €10,857 | €36,459 | +€25,602 | +236% |
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 24 October 2026 via checked.be.