PEACS: what changed
Two fiscal 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.
PEACS
Largest movements
- Tangible fixed assets -€30,899
down €30,899 (-11.2%), from €274,884 to €243,985
of which Land and buildings: -€16,817
- Receivables within one year -€20,276
down €20,276 (-36.0%), from €56,260 to €35,984
of which Other amounts receivable: -€24,718
- Cash +€3,886
up €3,886 (+12.3%), from €31,563 to €35,449
mainly Advances received (+€61,119) and Current portion of long-term debt (+€46,732)
- Profit (loss) carried forward -€75,023
down €75,023, from €32,954 to -€42,069
- Advances received +€61,119
new in 2025: €61,119
- Current portion of long-term debt +€46,732
up €46,732 (+133.9%), from €34,900 to €81,632
- Debts after one year -€24,343
down €24,343 (-16.2%), from €150,475 to €126,132
- Trade debts -€16,865
down €16,865 (-75.0%), from €22,488 to €5,623
- Gross operating margin -€153,890
down €153,890 (-84.4%), from €182,261 to €28,371
- Staff costs -€63,995
down €63,995 (-53.5%), from €119,596 to €55,601
- Taxes -€5,955
down €5,955 (-97.4%), from €6,112 to €157
- Write-downs +€3,038
new in 2025: €3,038
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.
Cash bridge derived
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 | €372,498 | €323,959 | -€48,539 | -13.0% |
| Fixed assets | 21/28 | €279,884 | €248,985 | -€30,899 | -11.0% |
| Tangible fixed assets | 22/27 | €274,884 | €243,985 | -€30,899 | -11.2% |
| Land and buildings | 22 | €249,346 | €232,529 | -€16,817 | -6.7% |
| Plant, machinery and equipment | 23 | €9,006 | €4,992 | -€4,014 | -44.6% |
| Furniture and vehicles | 24 | €16,532 | €6,464 | -€10,068 | -60.9% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €92,614 | €74,974 | -€17,640 | -19.0% |
| Amounts receivable within one year | 40/41 | €56,260 | €35,984 | -€20,276 | -36.0% |
| Trade receivables | 40 | €27,016 | €31,458 | +€4,442 | +16.4% |
| Other amounts receivable | 41 | €29,244 | €4,526 | -€24,718 | -84.5% |
| Cash at bank and in hand | 54/58 | €31,563 | €35,449 | +€3,886 | +12.3% |
| Deferred charges and accrued income | 490/1 | €4,791 | €3,541 | -€1,250 | -26.1% |
| Total equity and liabilities | 10/49 | €372,498 | €323,959 | -€48,539 | -13.0% |
| Equity | 10/15 | €114,897 | €21,924 | -€92,973 | -80.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €37,837 | €21,926 | -€15,911 | -42.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €35,977 | €20,066 | -€15,911 | -44.2% |
| Profit (loss) carried forward | 14 | €32,954 | -€42,069 | -€75,023 | |
| Investment grants | 15 | €25,506 | €23,467 | -€2,039 | -8.0% |
| Amounts payable | 17/49 | €257,601 | €302,035 | +€44,434 | +17.2% |
| Amounts payable after more than one year | 17 | €150,475 | €126,132 | -€24,343 | -16.2% |
| Financial debts | 170/4 | €150,475 | €126,132 | -€24,343 | -16.2% |
| Amounts payable within one year | 42/48 | €107,126 | €175,903 | +€68,777 | +64.2% |
| Current portion of amounts payable after more than one year | 42 | €34,900 | €81,632 | +€46,732 | +133.9% |
| Trade debts | 44 | €22,488 | €5,623 | -€16,865 | -75.0% |
| Suppliers | 440/4 | €22,488 | €5,623 | -€16,865 | -75.0% |
| Advances received on contracts in progress | 46 | - | €61,119 | +€61,119 | |
| Taxes, remuneration and social security | 45 | €19,738 | €9,830 | -€9,908 | -50.2% |
| Taxes | 450/3 | €12,341 | €3,341 | -€9,000 | -72.9% |
| Remuneration and social security | 454/9 | €7,397 | €6,489 | -€908 | -12.3% |
| Other amounts payable | 47/48 | €30,000 | €17,699 | -€12,301 | -41.0% |
| Remuneration, social security and pensions | 62 | €119,596 | €55,601 | -€63,995 | -53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,034 | €31,980 | +€946 | +3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,038 | +€3,038 | |
| Other operating charges | 640/8 | €9,569 | €8,628 | -€941 | -9.8% |
| Gross operating margin | 9900 | €182,261 | €28,371 | -€153,890 | -84.4% |
| Operating profit (loss) | 9901 | €22,062 | -€70,876 | -€92,938 | |
| Financial income | 75/76B | €2,039 | €2,978 | +€939 | +46.1% |
| Recurring financial income | 75 | €2,039 | €2,978 | +€939 | +46.1% |
| Financial charges | 65/66B | €5,964 | €6,968 | +€1,004 | +16.8% |
| Recurring financial charges | 65 | €5,964 | €6,968 | +€1,004 | +16.8% |
| Profit (loss) for the period before taxes | 9903 | €18,137 | -€74,866 | -€93,003 | |
| Income taxes | 67/77 | €6,112 | €157 | -€5,955 | -97.4% |
| Profit (loss) for the period | 9904 | €12,025 | -€75,023 | -€87,048 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,025 | -€75,023 | -€87,048 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.