PEETERS: 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.
PEETERS
Largest movements
- Receivables within one year +€136,767
up €136,767 (+29.4%), from €464,834 to €601,602
of which Trade receivables: +€94,246
- Stocks and contracts +€118,482
up €118,482 (+21.6%), from €549,225 to €667,707
- Cash +€102,730
up €102,730 (+33.0%), from €311,004 to €413,734
mainly Net result for the year (+€665,139) and Depreciation (+€64,764)
- Tangible fixed assets -€44,459
down €44,459 (-16.3%), from €272,143 to €227,685
of which Furniture and vehicles: -€33,665
- Deferred charges and accrued income +€21,317
up €21,317 (+229.0%), from €9,311 to €30,627
- Reserves +€565,000
up €565,000 (+59.1%), from €955,780 to €1.5m
of which Distributable reserves: +€565,000
- Other debts -€175,145
down €175,145 (-99.9%), from €175,241 to €96
- Trade debts -€54,039
down €54,039 (-24.9%), from €216,765 to €162,726
- Gross operating margin +€724,581
up €724,581 (+61.5%), from €1.2m to €1.9m
- Taxes +€188,326
up €188,326 (+398.8%), from €47,221 to €235,547
- Staff costs +€122,273
up €122,273 (+15.6%), from €783,356 to €905,629
- Depreciation +€19,723
up €19,723 (+43.8%), from €45,041 to €64,764
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 | €1,607,017 | €1,943,354 | +€336,337 | +20.9% |
| Fixed assets | 21/28 | €272,643 | €229,685 | -€42,959 | -15.8% |
| Tangible fixed assets | 22/27 | €272,143 | €227,685 | -€44,459 | -16.3% |
| Plant, machinery and equipment | 23 | €44,312 | €35,746 | -€8,566 | -19.3% |
| Furniture and vehicles | 24 | €85,439 | €51,774 | -€33,665 | -39.4% |
| Leasing and similar rights | 25 | €14,000 | €12,531 | -€1,469 | -10.5% |
| Other tangible fixed assets | 26 | €128,392 | €127,633 | -€759 | -0.6% |
| Financial fixed assets | 28 | €500 | €2,000 | +€1,500 | +300.0% |
| Current assets | 29/58 | €1,334,374 | €1,713,670 | +€379,296 | +28.4% |
| Stocks and contracts in progress | 3 | €549,225 | €667,707 | +€118,482 | +21.6% |
| Stocks | 30/36 | €549,225 | €667,707 | +€118,482 | +21.6% |
| Amounts receivable within one year | 40/41 | €464,834 | €601,602 | +€136,767 | +29.4% |
| Trade receivables | 40 | €463,803 | €558,049 | +€94,246 | +20.3% |
| Other amounts receivable | 41 | €1,031 | €43,552 | +€42,521 | +4122.5% |
| Cash at bank and in hand | 54/58 | €311,004 | €413,734 | +€102,730 | +33.0% |
| Deferred charges and accrued income | 490/1 | €9,311 | €30,627 | +€21,317 | +229.0% |
| Total equity and liabilities | 10/49 | €1,607,017 | €1,943,354 | +€336,337 | +20.9% |
| Equity | 10/15 | €1,066,880 | €1,631,880 | +€565,000 | +53.0% |
| Contributions | 10/11 | €111,100 | €111,100 | = | 0.0% |
| Capital | 10 | €111,100 | €111,100 | = | 0.0% |
| Issued capital | 100 | €111,100 | €111,100 | = | 0.0% |
| Reserves | 13 | €955,780 | €1,520,780 | +€565,000 | +59.1% |
| Non-distributable reserves | 130/1 | €11,110 | €11,110 | = | 0.0% |
| Legal reserve | 130 | €11,110 | €11,110 | = | 0.0% |
| Tax-exempt reserves | 132 | €758 | €758 | = | 0.0% |
| Distributable reserves | 133 | €943,912 | €1,508,913 | +€565,000 | +59.9% |
| Provisions and deferred taxes | 16 | - | €14,837 | +€14,837 | |
| Provisions for liabilities and charges | 160/5 | - | €14,837 | +€14,837 | |
| Other liabilities and charges | 164/5 | - | €14,837 | +€14,837 | |
| Amounts payable | 17/49 | €540,137 | €296,637 | -€243,500 | -45.1% |
| Amounts payable within one year | 42/48 | €527,098 | €296,637 | -€230,461 | -43.7% |
| Financial debts | 43 | - | €10,113 | +€10,113 | |
| Credit institutions | 430/8 | - | €10,113 | +€10,113 | |
| Trade debts | 44 | €216,765 | €162,726 | -€54,039 | -24.9% |
| Suppliers | 440/4 | €216,765 | €162,726 | -€54,039 | -24.9% |
| Advances received on contracts in progress | 46 | €5,466 | - | -€5,466 | |
| Taxes, remuneration and social security | 45 | €129,625 | €123,701 | -€5,925 | -4.6% |
| Taxes | 450/3 | €68,446 | €51,967 | -€16,479 | -24.1% |
| Remuneration and social security | 454/9 | €61,179 | €71,734 | +€10,555 | +17.3% |
| Other amounts payable | 47/48 | €175,241 | €96 | -€175,145 | -99.9% |
| Accrued charges and deferred income | 492/3 | €13,039 | - | -€13,039 | |
| Non-recurring operating income | 76A | €652 | - | -€652 | |
| Remuneration, social security and pensions | 62 | €783,356 | €905,629 | +€122,273 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,041 | €64,764 | +€19,723 | +43.8% |
| Other operating charges | 640/8 | €11,247 | €10,608 | -€638 | -5.7% |
| Non-recurring operating charges | 66A | €90 | €28,724 | +€28,634 | +31699.1% |
| Gross operating margin | 9900 | €1,178,341 | €1,902,922 | +€724,581 | +61.5% |
| Operating profit (loss) | 9901 | €338,607 | €893,196 | +€554,590 | +163.8% |
| Financial income | 75/76B | €19,445 | €13,637 | -€5,808 | -29.9% |
| Recurring financial income | 75 | €19,445 | €13,637 | -€5,808 | -29.9% |
| Financial charges | 65/66B | €5,594 | €6,147 | +€553 | +9.9% |
| Recurring financial charges | 65 | €5,594 | €6,147 | +€553 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | €352,458 | €900,687 | +€548,229 | +155.5% |
| Income taxes | 67/77 | €47,221 | €235,547 | +€188,326 | +398.8% |
| Profit (loss) for the period | 9904 | €305,237 | €665,139 | +€359,902 | +117.9% |
| Profit (loss) for the period to be appropriated | 9905 | €305,237 | €665,139 | +€359,902 | +117.9% |
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 11 October 2026 via checked.be.