Peeters: 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.
Peeters
Largest movements
- Cash +€10,956
up €10,956 (+102.9%), from €10,652 to €21,607
mainly Depreciation (+€44,141) and Net result for the year (+€39,153)
- Debts after one year -€47,216
down €47,216 (-20.8%), from €226,925 to €179,709
of which Other amounts payable: -€35,170
- Reserves +€39,153
up €39,153 (+18.6%), from €210,515 to €249,668
- Current portion of long-term debt +€14,387
up €14,387 (+42.4%), from €33,917 to €48,303
- Short-term financial debts +€7,500
new in 2025: €7,500
- Gross operating margin +€29,374
up €29,374 (+31.3%), from €93,756 to €123,131
- Staff costs +€7,557
up €7,557 (+146.3%), from €5,164 to €12,720
- Taxes +€4,935
up €4,935 (+33.6%), from €14,673 to €19,608
- Depreciation +€3,438
up €3,438 (+8.4%), from €40,703 to €44,141
- Financial charges +€1,683
up €1,683 (+38.2%), from €4,406 to €6,089
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 | €544,701 | €558,621 | +€13,920 | +2.6% |
| Fixed assets | 21/28 | €501,048 | €501,941 | +€892 | +0.2% |
| Tangible fixed assets | 22/27 | €501,048 | €501,941 | +€892 | +0.2% |
| Land and buildings | 22 | €501,048 | €487,486 | -€13,563 | -2.7% |
| Furniture and vehicles | 24 | - | €14,455 | +€14,455 | |
| Current assets | 29/58 | €43,653 | €56,680 | +€13,028 | +29.8% |
| Amounts receivable after more than one year | 29 | €9,491 | €9,491 | = | 0.0% |
| Trade receivables | 290 | €9,491 | €9,491 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,041 | €21,392 | +€351 | +1.7% |
| Trade receivables | 40 | €20,332 | €20,566 | +€234 | +1.1% |
| Other amounts receivable | 41 | €709 | €826 | +€117 | +16.6% |
| Cash at bank and in hand | 54/58 | €10,652 | €21,607 | +€10,956 | +102.9% |
| Deferred charges and accrued income | 490/1 | €2,469 | €4,190 | +€1,721 | +69.7% |
| Total equity and liabilities | 10/49 | €544,701 | €558,621 | +€13,920 | +2.6% |
| Equity | 10/15 | €245,316 | €283,669 | +€38,353 | +15.6% |
| Contributions | 10/11 | €20,179 | €20,179 | = | 0.0% |
| Reserves | 13 | €210,515 | €249,668 | +€39,153 | +18.6% |
| Distributable reserves | 133 | €210,515 | €249,668 | +€39,153 | +18.6% |
| Investment grants | 15 | €14,622 | €13,822 | -€800 | -5.5% |
| Provisions and deferred taxes | 16 | €3,656 | €3,456 | -€200 | -5.5% |
| Deferred taxes | 168 | €3,656 | €3,456 | -€200 | -5.5% |
| Amounts payable | 17/49 | €295,730 | €271,497 | -€24,233 | -8.2% |
| Amounts payable after more than one year | 17 | €226,925 | €179,709 | -€47,216 | -20.8% |
| Financial debts | 170/4 | €106,543 | €94,497 | -€12,046 | -11.3% |
| Other amounts payable | 178/9 | €120,381 | €85,212 | -€35,170 | -29.2% |
| Amounts payable within one year | 42/48 | €68,805 | €91,788 | +€22,983 | +33.4% |
| Current portion of amounts payable after more than one year | 42 | €33,917 | €48,303 | +€14,387 | +42.4% |
| Financial debts | 43 | - | €7,500 | +€7,500 | |
| Other loans | 439 | - | €7,500 | +€7,500 | |
| Trade debts | 44 | €12,003 | €10,158 | -€1,845 | -15.4% |
| Suppliers | 440/4 | €12,003 | €10,158 | -€1,845 | -15.4% |
| Taxes, remuneration and social security | 45 | €22,886 | €25,827 | +€2,941 | +12.9% |
| Taxes | 450/3 | €22,067 | €24,498 | +€2,431 | +11.0% |
| Remuneration and social security | 454/9 | €819 | €1,329 | +€510 | +62.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €5,164 | €12,720 | +€7,557 | +146.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,703 | €44,141 | +€3,438 | +8.4% |
| Other operating charges | 640/8 | €2,676 | €2,506 | -€171 | -6.4% |
| Gross operating margin | 9900 | €93,756 | €123,131 | +€29,374 | +31.3% |
| Operating profit (loss) | 9901 | €45,213 | €63,764 | +€18,550 | +41.0% |
| Financial income | 75/76B | €915 | €886 | -€29 | -3.2% |
| Recurring financial income | 75 | €915 | €886 | -€29 | -3.2% |
| Financial charges | 65/66B | €4,406 | €6,089 | +€1,683 | +38.2% |
| Recurring financial charges | 65 | €4,406 | €6,089 | +€1,683 | +38.2% |
| Profit (loss) for the period before taxes | 9903 | €41,722 | €58,561 | +€16,839 | +40.4% |
| Transfer from deferred taxes | 780 | €200 | €200 | = | 0.0% |
| Income taxes | 67/77 | €14,673 | €19,608 | +€4,935 | +33.6% |
| Profit (loss) for the period | 9904 | €27,249 | €39,153 | +€11,904 | +43.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,249 | €39,153 | +€11,904 | +43.7% |
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 3 October 2026 via checked.be.