Mitch 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.
Mitch Peeters
Largest movements
- Receivables within one year +€65,945
up €65,945 (+430%), from €15,332 to €81,277
of which Trade receivables: +€65,977
- Cash +€31,486
up €31,486 (+92.6%), from €34,001 to €65,487
mainly Trade debts (+€39,233) and Net result for the year (+€37,373)
- Financial fixed assets -€2,650
down €2,650 (-12.8%), from €20,633 to €17,983
- Trade debts +€39,233
up €39,233 (+1,515%), from €2,589 to €41,822
- Profit (loss) carried forward +€37,373
up €37,373 (+58.2%), from €64,255 to €101,628
- Tax, wage and social debts +€17,077
up €17,077 (+264%), from €6,466 to €23,543
- Gross operating margin +€20,222
up €20,222 (+62.9%), from €32,128 to €52,350
- Taxes +€3,931
up €3,931 (+54.7%), from €7,187 to €11,118
- Depreciation +€864
up €864 (+50.2%), from €1,721 to €2,584
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 | €75,810 | €169,494 | +€93,684 | +124% |
| Fixed assets | 21/28 | €26,477 | €22,730 | -€3,748 | -14.2% |
| Tangible fixed assets | 22/27 | €5,844 | €4,747 | -€1,098 | -18.8% |
| Plant, machinery and equipment | 23 | €4,354 | €3,971 | -€383 | -8.8% |
| Furniture and vehicles | 24 | €1,491 | €776 | -€715 | -48.0% |
| Financial fixed assets | 28 | €20,633 | €17,983 | -€2,650 | -12.8% |
| Current assets | 29/58 | €49,332 | €146,764 | +€97,432 | +198% |
| Amounts receivable within one year | 40/41 | €15,332 | €81,277 | +€65,945 | +430% |
| Trade receivables | 40 | €15,300 | €81,277 | +€65,977 | +431% |
| Other amounts receivable | 41 | €32 | €0 | -€32 | -100% |
| Cash at bank and in hand | 54/58 | €34,001 | €65,487 | +€31,486 | +92.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €75,810 | €169,494 | +€93,684 | +124% |
| Equity | 10/15 | €66,755 | €104,128 | +€37,373 | +56.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,255 | €101,628 | +€37,373 | +58.2% |
| Amounts payable | 17/49 | €9,055 | €65,365 | +€56,310 | +622% |
| Amounts payable within one year | 42/48 | €9,055 | €65,365 | +€56,310 | +622% |
| Trade debts | 44 | €2,589 | €41,822 | +€39,233 | +1,515% |
| Suppliers | 440/4 | €2,589 | €41,822 | +€39,233 | +1,515% |
| Taxes, remuneration and social security | 45 | €6,466 | €23,543 | +€17,077 | +264% |
| Taxes | 450/3 | €6,466 | €23,543 | +€17,077 | +264% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,721 | €2,584 | +€864 | +50.2% |
| Other operating charges | 640/8 | €1,172 | €1,492 | +€320 | +27.3% |
| Gross operating margin | 9900 | €32,128 | €52,350 | +€20,222 | +62.9% |
| Operating profit (loss) | 9901 | €29,235 | €48,274 | +€19,038 | +65.1% |
| Financial income | 75/76B | €691 | €435 | -€256 | -37.0% |
| Recurring financial income | 75 | €691 | €435 | -€256 | -37.0% |
| Financial charges | 65/66B | €205 | €217 | +€12 | +5.9% |
| Recurring financial charges | 65 | €205 | €217 | +€12 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €29,721 | €48,491 | +€18,770 | +63.2% |
| Income taxes | 67/77 | €7,187 | €11,118 | +€3,931 | +54.7% |
| Profit (loss) for the period | 9904 | €22,534 | €37,373 | +€14,839 | +65.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,534 | €37,373 | +€14,839 | +65.9% |
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.