PEETERMANS: 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.
PEETERMANS
Largest movements
- Receivables within one year +€729,947
up €729,947 (+28.7%), from €2.5m to €3.3m
of which Trade receivables: +€774,225
- Current investments -€294,044
down €294,044 (-98.0%), from €300,000 to €5,956
- Financial fixed assets +€250,000
up €250,000 (+7932.5%), from €3,152 to €253,152
- Cash +€207,756
up €207,756 (+66.7%), from €311,293 to €519,049
mainly Trade debts (+€685,426) and Net result for the year (+€356,797)
- Receivables after one year +€200,000
new in 2025: €200,000
- Trade debts +€685,426
up €685,426 (+32.1%), from €2.1m to €2.8m
- Other debts +€301,299
up €301,299 (+391.3%), from €77,008 to €378,307
- Current portion of long-term debt -€84,244
no longer reported in 2025 (was €84,244)
- Tax, wage and social debts +€74,305
up €74,305 (+75.3%), from €98,722 to €173,027
of which Taxes: +€61,034
- Gross operating margin +€205,167
up €205,167 (+22.1%), from €926,416 to €1.1m
- Financial income +€115,993
up €115,993 (+1994.8%), from €5,815 to €121,808
- Staff costs +€66,773
up €66,773 (+14.7%), from €455,157 to €521,930
- Taxes +€62,465
up €62,465 (+67.7%), from €92,304 to €154,769
- Other operating charges -€26,739
down €26,739 (-31.2%), from €85,672 to €58,934
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 | €4,031,247 | €5,051,237 | +€1.0m | +25.3% |
| Fixed assets | 21/28 | €683,773 | €805,816 | +€122,043 | +17.8% |
| Intangible fixed assets | 21 | €250,842 | €196,413 | -€54,429 | -21.7% |
| Tangible fixed assets | 22/27 | €429,779 | €356,251 | -€73,528 | -17.1% |
| Land and buildings | 22 | €95,751 | €79,206 | -€16,544 | -17.3% |
| Plant, machinery and equipment | 23 | €31,657 | €46,770 | +€15,113 | +47.7% |
| Furniture and vehicles | 24 | €302,372 | €230,275 | -€72,097 | -23.8% |
| Financial fixed assets | 28 | €3,152 | €253,152 | +€250,000 | +7932.5% |
| Current assets | 29/58 | €3,347,475 | €4,245,421 | +€897,947 | +26.8% |
| Amounts receivable after more than one year | 29 | - | €200,000 | +€200,000 | |
| Other amounts receivable | 291 | - | €200,000 | +€200,000 | |
| Stocks and contracts in progress | 3 | €163,567 | €175,407 | +€11,839 | +7.2% |
| Stocks | 30/36 | €163,567 | €175,407 | +€11,839 | +7.2% |
| Amounts receivable within one year | 40/41 | €2,547,581 | €3,277,527 | +€729,947 | +28.7% |
| Trade receivables | 40 | €2,473,544 | €3,247,769 | +€774,225 | +31.3% |
| Other amounts receivable | 41 | €74,036 | €29,758 | -€44,278 | -59.8% |
| Current investments | 50/53 | €300,000 | €5,956 | -€294,044 | -98.0% |
| Cash at bank and in hand | 54/58 | €311,293 | €519,049 | +€207,756 | +66.7% |
| Deferred charges and accrued income | 490/1 | €25,034 | €67,482 | +€42,449 | +169.6% |
| Total equity and liabilities | 10/49 | €4,031,247 | €5,051,237 | +€1.0m | +25.3% |
| Equity | 10/15 | €1,634,421 | €1,677,626 | +€43,204 | +2.6% |
| Contributions | 10/11 | €235,499 | €235,499 | = | 0.0% |
| Capital | 10 | €235,499 | €235,499 | = | 0.0% |
| Issued capital | 100 | €235,499 | €235,499 | = | 0.0% |
| Reserves | 13 | €1,398,923 | €1,442,127 | +€43,204 | +3.1% |
| Non-distributable reserves | 130/1 | €23,550 | €23,550 | = | 0.0% |
| Legal reserve | 130 | €23,550 | €23,550 | = | 0.0% |
| Tax-exempt reserves | 132 | €327,983 | €227,808 | -€100,175 | -30.5% |
| Distributable reserves | 133 | €1,047,390 | €1,190,769 | +€143,379 | +13.7% |
| Amounts payable | 17/49 | €2,396,826 | €3,373,611 | +€976,786 | +40.8% |
| Amounts payable within one year | 42/48 | €2,394,326 | €3,371,111 | +€976,786 | +40.8% |
| Current portion of amounts payable after more than one year | 42 | €84,244 | - | -€84,244 | |
| Trade debts | 44 | €2,134,352 | €2,819,777 | +€685,426 | +32.1% |
| Suppliers | 440/4 | €2,134,352 | €2,819,777 | +€685,426 | +32.1% |
| Taxes, remuneration and social security | 45 | €98,722 | €173,027 | +€74,305 | +75.3% |
| Taxes | 450/3 | €33,935 | €94,969 | +€61,034 | +179.9% |
| Remuneration and social security | 454/9 | €64,787 | €78,057 | +€13,271 | +20.5% |
| Other amounts payable | 47/48 | €77,008 | €378,307 | +€301,299 | +391.3% |
| Accrued charges and deferred income | 492/3 | €2,500 | €2,500 | = | 0.0% |
| Non-recurring operating income | 76A | - | €6,655 | +€6,655 | |
| Remuneration, social security and pensions | 62 | €455,157 | €521,930 | +€66,773 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,677 | €154,984 | +€12,307 | +8.6% |
| Other operating charges | 640/8 | €85,672 | €58,934 | -€26,739 | -31.2% |
| Gross operating margin | 9900 | €926,416 | €1,131,583 | +€205,167 | +22.1% |
| Operating profit (loss) | 9901 | €242,909 | €395,736 | +€152,826 | +62.9% |
| Financial income | 75/76B | €5,815 | €121,808 | +€115,993 | +1994.8% |
| Recurring financial income | 75 | €5,815 | €121,808 | +€115,993 | +1994.8% |
| Financial charges | 65/66B | €3,389 | €5,977 | +€2,588 | +76.4% |
| Recurring financial charges | 65 | €3,389 | €5,977 | +€2,588 | +76.4% |
| Profit (loss) for the period before taxes | 9903 | €245,335 | €511,566 | +€266,231 | +108.5% |
| Income taxes | 67/77 | €92,304 | €154,769 | +€62,465 | +67.7% |
| Profit (loss) for the period | 9904 | €153,031 | €356,797 | +€203,766 | +133.2% |
| Transfer from tax-exempt reserves | 789 | €143,966 | €100,175 | -€43,792 | -30.4% |
| Profit (loss) for the period to be appropriated | 9905 | €296,997 | €456,972 | +€159,974 | +53.9% |
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 29 September 2026 via checked.be.