PEERS - DE WINTER: 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.
What changed
PEERS - DE WINTER
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€332,129
2024 · €68,451+€263,678
Equity
€2.4m
2024 · €2.2m+€230,729
Cash
€378,740
2024 · €141,133+€237,607
Balance sheet total
€2.7m
2024 · €2.8m-€158,513
Largest movements
Assets
- Current investments -€316,811
down €316,811 (-30.0%), from €1.1m to €737,807
- Cash +€237,607
up €237,607 (+168%), from €141,133 to €378,740
mainly Net result for the year (+€332,129) and Current investments (+€316,811)
- Receivables within one year -€47,052
down €47,052 (-62.0%), from €75,872 to €28,820
of which Other amounts receivable: -€24,563
Equity and liabilities
- Provisions -€387,294
down €387,294 (-73.3%), from €528,454 to €141,160
of which Provisions for liabilities and charges: -€378,450
- Reserves +€230,569
up €230,569 (+11.0%), from €2.1m to €2.3m
of which Distributable reserves: +€257,100
Income statement
- Provisions -€378,450
new in 2025: -€378,450
- Taxes +€132,442
up €132,442 (+356%), from €37,158 to €169,600
- Gross operating margin +€50,203
up €50,203 (+43.0%), from €116,857 to €167,060
- Financial income -€18,976
down €18,976 (-47.2%), from €40,244 to €21,268
- Depreciation +€6,377
up €6,377 (+13.8%), from €46,109 to €52,486
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.
Result 2024
€68,451
Gross operating margin
+€50,203
Depreciation
-€6,377
Provisions
+€378,450
Other operating charges
-€2,061
Other operating items
-€292
Financial income
-€18,976
Financial charges
-€4,828
Taxes
-€132,442
Result 2025
€332,129
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€48,365
Investment
+€290,643
Financing
-€101,400
Cash 2024
€141,133
From operations (derived)
+€48,365
Net result for the year
+€332,129
Depreciation
+€52,486
Receivables within one year
+€47,052
Deferred charges and accrued income
+€5,940
Provisions
-€387,294
Trade debts
-€297
Tax, wage and social debts
+€23,665
Other debts
-€23,298
Accrued charges and deferred income
-€2,019
Investment (derived)
+€290,643
Investment in fixed assets (net)
-€26,169
Current investments
+€316,811
Financing
-€101,400
Contributions, distributions and other
-€101,400
Cash 2025
€378,740
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,837,865 | €2,679,352 | -€158,513 | -5.6% |
| Fixed assets | 21/28 | €1,555,530 | €1,529,213 | -€26,317 | -1.7% |
| Tangible fixed assets | 22/27 | €1,187,031 | €1,160,713 | -€26,317 | -2.2% |
| Land and buildings | 22 | €1,111,499 | €1,066,870 | -€44,629 | -4.0% |
| Plant, machinery and equipment | 23 | €3,324 | €18,948 | +€15,624 | +470% |
| Furniture and vehicles | 24 | €2,798 | €5,485 | +€2,687 | +96.0% |
| Other tangible fixed assets | 26 | €69,410 | €69,410 | = | 0.0% |
| Financial fixed assets | 28 | €368,500 | €368,500 | = | 0.0% |
| Current assets | 29/58 | €1,282,335 | €1,150,139 | -€132,196 | -10.3% |
| Amounts receivable within one year | 40/41 | €75,872 | €28,820 | -€47,052 | -62.0% |
| Trade receivables | 40 | €51,309 | €28,820 | -€22,489 | -43.8% |
| Other amounts receivable | 41 | €24,563 | €0 | -€24,563 | -100% |
| Current investments | 50/53 | €1,054,618 | €737,807 | -€316,811 | -30.0% |
| Cash at bank and in hand | 54/58 | €141,133 | €378,740 | +€237,607 | +168% |
| Deferred charges and accrued income | 490/1 | €10,711 | €4,771 | -€5,940 | -55.5% |
| Total equity and liabilities | 10/49 | €2,837,865 | €2,679,352 | -€158,513 | -5.6% |
| Equity | 10/15 | €2,213,813 | €2,444,541 | +€230,729 | +10.4% |
| Contributions | 10/11 | €111,335 | €111,335 | = | 0.0% |
| Capital | 10 | €111,335 | €111,335 | = | 0.0% |
| Issued capital | 100 | €111,335 | €111,335 | = | 0.0% |
| Reserves | 13 | €2,091,906 | €2,322,475 | +€230,569 | +11.0% |
| Non-distributable reserves | 130/1 | €21,745 | €21,745 | = | 0.0% |
| Legal reserve | 130 | €14,933 | €14,933 | = | 0.0% |
| Other | 1319 | €6,812 | €6,812 | = | 0.0% |
| Tax-exempt reserves | 132 | €362,561 | €336,030 | -€26,531 | -7.3% |
| Distributable reserves | 133 | €1,707,600 | €1,964,700 | +€257,100 | +15.1% |
| Profit (loss) carried forward | 14 | €10,572 | €10,732 | +€160 | +1.5% |
| Provisions and deferred taxes | 16 | €528,454 | €141,160 | -€387,294 | -73.3% |
| Provisions for liabilities and charges | 160/5 | €407,600 | €29,150 | -€378,450 | -92.8% |
| Pensions and similar obligations | 160 | €370,000 | €0 | -€370,000 | -100% |
| Major repairs and maintenance | 162 | €37,600 | €29,150 | -€8,450 | -22.5% |
| Deferred taxes | 168 | €120,854 | €112,010 | -€8,844 | -7.3% |
| Amounts payable | 17/49 | €95,599 | €93,651 | -€1,948 | -2.0% |
| Amounts payable after more than one year | 17 | €1,950 | €1,950 | = | 0.0% |
| Other amounts payable | 178/9 | €1,950 | €1,950 | = | 0.0% |
| Amounts payable within one year | 42/48 | €89,507 | €89,577 | +€71 | +0.1% |
| Trade debts | 44 | €14,457 | €14,161 | -€297 | -2.1% |
| Suppliers | 440/4 | €14,457 | €14,161 | -€297 | -2.1% |
| Taxes, remuneration and social security | 45 | €48,678 | €72,344 | +€23,665 | +48.6% |
| Taxes | 450/3 | €47,762 | €72,344 | +€24,581 | +51.5% |
| Remuneration and social security | 454/9 | €916 | €0 | -€916 | -100% |
| Other amounts payable | 47/48 | €26,371 | €3,073 | -€23,298 | -88.3% |
| Accrued charges and deferred income | 492/3 | €4,142 | €2,123 | -€2,019 | -48.7% |
| Non-recurring operating income | 76A | - | €354 | +€354 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,109 | €52,486 | +€6,377 | +13.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€378,450 | -€378,450 | |
| Other operating charges | 640/8 | €16,931 | €18,992 | +€2,061 | +12.2% |
| Non-recurring operating charges | 66A | - | €292 | +€292 | |
| Gross operating margin | 9900 | €116,857 | €167,060 | +€50,203 | +43.0% |
| Operating profit (loss) | 9901 | €53,817 | €473,740 | +€419,923 | +780% |
| Financial income | 75/76B | €40,244 | €21,268 | -€18,976 | -47.2% |
| Recurring financial income | 75 | €40,244 | €21,268 | -€18,976 | -47.2% |
| Financial charges | 65/66B | -€2,704 | €2,124 | +€4,828 | |
| Recurring financial charges | 65 | -€2,704 | €2,124 | +€4,828 | |
| Profit (loss) for the period before taxes | 9903 | €96,765 | €492,884 | +€396,120 | +409% |
| Transfer from deferred taxes | 780 | €8,844 | €8,844 | = | 0.0% |
| Income taxes | 67/77 | €37,158 | €169,600 | +€132,442 | +356% |
| Profit (loss) for the period | 9904 | €68,451 | €332,129 | +€263,678 | +385% |
| Transfer from tax-exempt reserves | 789 | €26,531 | €26,531 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €94,982 | €358,660 | +€263,678 | +278% |
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 24 October 2026 via checked.be.