PASCAL 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.
PASCAL PEETERS
Largest movements
- Cash -€46,770
down €46,770 (-21.1%), from €221,847 to €175,078
mainly Other debts (-€111,125) and Investment in fixed assets (net) (-€42,791)
- Tangible fixed assets +€19,620
up €19,620 (+9.5%), from €206,358 to €225,978
of which Furniture and vehicles: +€28,798
- Other debts -€111,125
down €111,125 (-94.8%), from €117,170 to €6,045
- Reserves +€90,951
up €90,951 (+17.6%), from €516,605 to €607,556
of which Distributable reserves: +€90,951
- Trade debts -€8,847
down €8,847 (-72.9%), from €12,131 to €3,284
- Gross operating margin +€17,598
up €17,598 (+13.0%), from €135,271 to €152,870
- Taxes +€3,540
up €3,540 (+11.0%), from €32,035 to €35,574
- Depreciation +€3,338
up €3,338 (+16.8%), from €19,833 to €23,171
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 | €668,662 | €643,440 | -€25,222 | -3.8% |
| Fixed assets | 21/28 | €206,358 | €225,978 | +€19,620 | +9.5% |
| Tangible fixed assets | 22/27 | €206,358 | €225,978 | +€19,620 | +9.5% |
| Land and buildings | 22 | €172,760 | €165,040 | -€7,719 | -4.5% |
| Plant, machinery and equipment | 23 | €7,127 | €6,148 | -€979 | -13.7% |
| Furniture and vehicles | 24 | €23,117 | €51,914 | +€28,798 | +125% |
| Other tangible fixed assets | 26 | €3,355 | €2,875 | -€480 | -14.3% |
| Current assets | 29/58 | €462,304 | €417,462 | -€44,842 | -9.7% |
| Amounts receivable within one year | 40/41 | €83,263 | €85,466 | +€2,203 | +2.6% |
| Trade receivables | 40 | €83,257 | €76,855 | -€6,402 | -7.7% |
| Other amounts receivable | 41 | €6 | €8,611 | +€8,606 | +148,116% |
| Current investments | 50/53 | €154,302 | €154,302 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €221,847 | €175,078 | -€46,770 | -21.1% |
| Deferred charges and accrued income | 490/1 | €2,892 | €2,616 | -€276 | -9.5% |
| Total equity and liabilities | 10/49 | €668,662 | €643,440 | -€25,222 | -3.8% |
| Equity | 10/15 | €529,005 | €619,956 | +€90,951 | +17.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €516,605 | €607,556 | +€90,951 | +17.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €516,605 | €607,556 | +€90,951 | +17.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €139,656 | €23,483 | -€116,173 | -83.2% |
| Amounts payable within one year | 42/48 | €139,656 | €23,483 | -€116,173 | -83.2% |
| Current portion of amounts payable after more than one year | 42 | €5,055 | €5,059 | +€5 | +0.1% |
| Trade debts | 44 | €12,131 | €3,284 | -€8,847 | -72.9% |
| Suppliers | 440/4 | €12,131 | €3,284 | -€8,847 | -72.9% |
| Taxes, remuneration and social security | 45 | €5,301 | €9,095 | +€3,794 | +71.6% |
| Taxes | 450/3 | €5,301 | €9,095 | +€3,794 | +71.6% |
| Other amounts payable | 47/48 | €117,170 | €6,045 | -€111,125 | -94.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,833 | €23,171 | +€3,338 | +16.8% |
| Other operating charges | 640/8 | €2,190 | €2,368 | +€178 | +8.1% |
| Gross operating margin | 9900 | €135,271 | €152,870 | +€17,598 | +13.0% |
| Operating profit (loss) | 9901 | €113,248 | €127,331 | +€14,082 | +12.4% |
| Financial income | 75/76B | €68 | €41 | -€28 | -40.4% |
| Recurring financial income | 75 | €68 | €41 | -€28 | -40.4% |
| Financial charges | 65/66B | €791 | €846 | +€55 | +6.9% |
| Recurring financial charges | 65 | €791 | €846 | +€55 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €112,525 | €126,525 | +€14,000 | +12.4% |
| Income taxes | 67/77 | €32,035 | €35,574 | +€3,540 | +11.0% |
| Profit (loss) for the period | 9904 | €80,490 | €90,951 | +€10,461 | +13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €80,490 | €90,951 | +€10,461 | +13.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.