PEER STUDIO: 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.
PEER STUDIO
Largest movements
- Receivables within one year +€11,426
up €11,426 (+791%), from €1,445 to €12,871
of which Trade receivables: +€12,866
- Cash +€10,596
up €10,596 (+9.0%), from €117,862 to €128,458
mainly Net result for the year (+€29,998) and Depreciation (+€18,302)
- Tangible fixed assets -€9,556
down €9,556 (-5.8%), from €164,353 to €154,796
- Reserves +€24,998
up €24,998 (+23.2%), from €107,705 to €132,702
- Debts after one year -€11,239
down €11,239 (-11.6%), from €96,947 to €85,708
- Trade debts +€6,064
new in 2025: €6,064
- Advances received -€3,739
no longer reported in 2025 (was €3,739)
- Staff costs +€33,646
up €33,646 (+118%), from €28,578 to €62,223
- Gross operating margin +€14,015
up €14,015 (+12.6%), from €111,565 to €125,580
- Taxes -€5,766
down €5,766 (-34.5%), from €16,713 to €10,948
- Depreciation +€3,359
up €3,359 (+22.5%), from €14,943 to €18,302
- Financial income +€1,735
new in 2025: €1,735
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 | €296,785 | €308,182 | +€11,397 | +3.8% |
| Fixed assets | 21/28 | €164,353 | €154,796 | -€9,556 | -5.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €164,353 | €154,796 | -€9,556 | -5.8% |
| Land and buildings | 22 | €118,780 | €114,716 | -€4,064 | -3.4% |
| Plant, machinery and equipment | 23 | €21,470 | €20,714 | -€756 | -3.5% |
| Furniture and vehicles | 24 | €24,103 | €19,366 | -€4,736 | -19.7% |
| Current assets | 29/58 | €132,432 | €153,385 | +€20,953 | +15.8% |
| Stocks and contracts in progress | 3 | €13,125 | €11,920 | -€1,205 | -9.2% |
| Stocks | 30/36 | €13,125 | €11,920 | -€1,205 | -9.2% |
| Amounts receivable within one year | 40/41 | €1,445 | €12,871 | +€11,426 | +791% |
| Trade receivables | 40 | - | €12,866 | +€12,866 | |
| Other amounts receivable | 41 | €1,445 | €5 | -€1,440 | -99.7% |
| Current investments | 50/53 | - | €136 | +€136 | |
| Cash at bank and in hand | 54/58 | €117,862 | €128,458 | +€10,596 | +9.0% |
| Total equity and liabilities | 10/49 | €296,785 | €308,182 | +€11,397 | +3.8% |
| Equity | 10/15 | €108,705 | €133,702 | +€24,998 | +23.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €107,705 | €132,702 | +€24,998 | +23.2% |
| Distributable reserves | 133 | €107,705 | €132,702 | +€24,998 | +23.2% |
| Amounts payable | 17/49 | €188,080 | €174,479 | -€13,601 | -7.2% |
| Amounts payable after more than one year | 17 | €96,947 | €85,708 | -€11,239 | -11.6% |
| Financial debts | 170/4 | €96,947 | €85,708 | -€11,239 | -11.6% |
| Amounts payable within one year | 42/48 | €91,133 | €88,772 | -€2,361 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €12,261 | €11,239 | -€1,021 | -8.3% |
| Trade debts | 44 | - | €6,064 | +€6,064 | |
| Suppliers | 440/4 | - | €6,064 | +€6,064 | |
| Advances received on contracts in progress | 46 | €3,739 | - | -€3,739 | |
| Taxes, remuneration and social security | 45 | €39,720 | €37,397 | -€2,323 | -5.8% |
| Taxes | 450/3 | €31,826 | €27,321 | -€4,504 | -14.2% |
| Remuneration and social security | 454/9 | €7,894 | €10,076 | +€2,182 | +27.6% |
| Other amounts payable | 47/48 | €35,413 | €34,071 | -€1,342 | -3.8% |
| Remuneration, social security and pensions | 62 | €28,578 | €62,223 | +€33,646 | +118% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,943 | €18,302 | +€3,359 | +22.5% |
| Other operating charges | 640/8 | €2,651 | €3,034 | +€383 | +14.5% |
| Gross operating margin | 9900 | €111,565 | €125,580 | +€14,015 | +12.6% |
| Operating profit (loss) | 9901 | €65,394 | €42,021 | -€23,373 | -35.7% |
| Financial income | 75/76B | - | €1,735 | +€1,735 | |
| Recurring financial income | 75 | - | €1,735 | +€1,735 | |
| Financial charges | 65/66B | €1,648 | €2,810 | +€1,162 | +70.5% |
| Recurring financial charges | 65 | €1,648 | €2,810 | +€1,162 | +70.5% |
| Profit (loss) for the period before taxes | 9903 | €63,746 | €40,945 | -€22,800 | -35.8% |
| Income taxes | 67/77 | €16,713 | €10,948 | -€5,766 | -34.5% |
| Profit (loss) for the period | 9904 | €47,032 | €29,998 | -€17,034 | -36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €47,032 | €29,998 | -€17,034 | -36.2% |
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 18 October 2026 via checked.be.