PEELAER: 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.
PEELAER
Largest movements
- Cash +€115,029
up €115,029 (+39.8%), from €288,870 to €403,898
mainly Net result for the year (+€71,435) and Depreciation (+€62,534)
- Tangible fixed assets -€58,534
down €58,534 (-12.5%), from €468,287 to €409,753
of which Plant, machinery and equipment: -€41,974
- Stocks and contracts -€27,970
down €27,970 (-15.7%), from €178,557 to €150,587
- Receivables within one year -€24,616
down €24,616 (-64.3%), from €38,257 to €13,641
of which Trade receivables: -€30,814
- Reserves +€71,435
up €71,435 (+11.3%), from €633,961 to €705,396
- Debts after one year -€38,820
down €38,820 (-21.1%), from €184,009 to €145,189
- Tax, wage and social debts -€16,307
down €16,307 (-68.0%), from €23,967 to €7,661
of which Taxes: -€12,763
- Gross operating margin +€200,703
up €200,703 (+1,367%), from €14,684 to €215,387
- Taxes -€22,856
down €22,856, from €15,000 to -€7,856
- Staff costs +€2,602
up €2,602 (+4.3%), from €59,937 to €62,538
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 | €980,337 | €988,951 | +€8,614 | +0.9% |
| Fixed assets | 21/28 | €468,559 | €410,025 | -€58,534 | -12.5% |
| Tangible fixed assets | 22/27 | €468,287 | €409,753 | -€58,534 | -12.5% |
| Land and buildings | 22 | €133,606 | €133,606 | = | 0.0% |
| Plant, machinery and equipment | 23 | €277,447 | €235,474 | -€41,974 | -15.1% |
| Furniture and vehicles | 24 | €57,234 | €40,674 | -€16,560 | -28.9% |
| Financial fixed assets | 28 | €271 | €271 | = | 0.0% |
| Current assets | 29/58 | €511,778 | €578,926 | +€67,148 | +13.1% |
| Stocks and contracts in progress | 3 | €178,557 | €150,587 | -€27,970 | -15.7% |
| Stocks | 30/36 | €178,557 | €150,587 | -€27,970 | -15.7% |
| Amounts receivable within one year | 40/41 | €38,257 | €13,641 | -€24,616 | -64.3% |
| Trade receivables | 40 | €30,814 | €0 | -€30,814 | -100% |
| Other amounts receivable | 41 | €7,443 | €13,641 | +€6,198 | +83.3% |
| Cash at bank and in hand | 54/58 | €288,870 | €403,898 | +€115,029 | +39.8% |
| Deferred charges and accrued income | 490/1 | €6,094 | €10,800 | +€4,706 | +77.2% |
| Total equity and liabilities | 10/49 | €980,337 | €988,951 | +€8,614 | +0.9% |
| Equity | 10/15 | €700,852 | €772,287 | +€71,435 | +10.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €633,961 | €705,396 | +€71,435 | +11.3% |
| Distributable reserves | 133 | €633,961 | €705,396 | +€71,435 | +11.3% |
| Profit (loss) carried forward | 14 | €46,891 | €46,891 | = | 0.0% |
| Amounts payable | 17/49 | €279,485 | €216,664 | -€62,821 | -22.5% |
| Amounts payable after more than one year | 17 | €184,009 | €145,189 | -€38,820 | -21.1% |
| Financial debts | 170/4 | €184,009 | €145,189 | -€38,820 | -21.1% |
| Amounts payable within one year | 42/48 | €95,476 | €71,474 | -€24,001 | -25.1% |
| Current portion of amounts payable after more than one year | 42 | €38,020 | €38,820 | +€800 | +2.1% |
| Trade debts | 44 | €8,979 | €4,179 | -€4,801 | -53.5% |
| Suppliers | 440/4 | €8,979 | €4,179 | -€4,801 | -53.5% |
| Taxes, remuneration and social security | 45 | €23,967 | €7,661 | -€16,307 | -68.0% |
| Taxes | 450/3 | €13,005 | €242 | -€12,763 | -98.1% |
| Remuneration and social security | 454/9 | €10,962 | €7,419 | -€3,544 | -32.3% |
| Other amounts payable | 47/48 | €24,510 | €20,816 | -€3,694 | -15.1% |
| Non-recurring operating income | 76A | €500 | €7,000 | +€6,500 | +1,300% |
| Remuneration, social security and pensions | 62 | €59,937 | €62,538 | +€2,602 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,135 | €62,534 | -€601 | -1.0% |
| Other operating charges | 640/8 | €16,988 | €18,740 | +€1,753 | +10.3% |
| Gross operating margin | 9900 | €14,684 | €215,387 | +€200,703 | +1,367% |
| Operating profit (loss) | 9901 | -€125,375 | €71,574 | +€196,950 | |
| Financial income | 75/76B | €0 | €13 | +€13 | |
| Recurring financial income | 75 | €0 | €13 | +€13 | |
| Financial charges | 65/66B | €7,737 | €8,008 | +€272 | +3.5% |
| Recurring financial charges | 65 | €7,737 | €8,008 | +€272 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | -€133,112 | €63,579 | +€196,691 | |
| Income taxes | 67/77 | €15,000 | -€7,856 | -€22,856 | |
| Profit (loss) for the period | 9904 | -€148,112 | €71,435 | +€219,547 | |
| Profit (loss) for the period to be appropriated | 9905 | -€148,112 | €71,435 | +€219,547 |
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 13 October 2026 via checked.be.