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
- Tangible fixed assets -€40,321
down €40,321 (-7.6%), from €529,376 to €489,055
of which Land and buildings: -€21,208
- Cash +€9,253
up €9,253 (+6.5%), from €143,431 to €152,685
mainly Current portion of long-term debt (+€50,484) and Depreciation (+€42,597)
- Tax, wage and social debts -€74,125
down €74,125 (-88.1%), from €84,110 to €9,984
of which Taxes: -€72,919
- Current portion of long-term debt +€50,484
up €50,484 (+151%), from €33,333 to €83,818
- Debts after one year -€33,333
down €33,333 (-39.0%), from €85,554 to €52,221
- Reserves +€26,243
up €26,243 (+8.3%), from €317,074 to €343,317
- Taxes -€79,232
down €79,232 (-88.5%), from €89,541 to €10,309
- Staff costs -€37,277
down €37,277 (-47.5%), from €78,479 to €41,203
- Gross operating margin -€27,454
down €27,454 (-17.8%), from €153,995 to €126,540
- Depreciation -€23,296
down €23,296 (-35.4%), from €65,893 to €42,597
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 | €683,711 | €646,530 | -€37,181 | -5.4% |
| Fixed assets | 21/28 | €529,376 | €489,055 | -€40,321 | -7.6% |
| Tangible fixed assets | 22/27 | €529,376 | €489,055 | -€40,321 | -7.6% |
| Land and buildings | 22 | €500,442 | €479,234 | -€21,208 | -4.2% |
| Plant, machinery and equipment | 23 | €6,927 | €2,071 | -€4,857 | -70.1% |
| Furniture and vehicles | 24 | €22,007 | €7,751 | -€14,257 | -64.8% |
| Current assets | 29/58 | €154,334 | €157,475 | +€3,140 | +2.0% |
| Amounts receivable within one year | 40/41 | €10,903 | €4,790 | -€6,113 | -56.1% |
| Other amounts receivable | 41 | €10,903 | €4,790 | -€6,113 | -56.1% |
| Cash at bank and in hand | 54/58 | €143,431 | €152,685 | +€9,253 | +6.5% |
| Total equity and liabilities | 10/49 | €683,711 | €646,530 | -€37,181 | -5.4% |
| Equity | 10/15 | €461,749 | €487,992 | +€26,243 | +5.7% |
| Contributions | 10/11 | €9,031 | €9,031 | = | 0.0% |
| Reserves | 13 | €317,074 | €343,317 | +€26,243 | +8.3% |
| Distributable reserves | 133 | €317,074 | €343,317 | +€26,243 | +8.3% |
| Profit (loss) carried forward | 14 | €135,644 | €135,644 | = | 0.0% |
| Amounts payable | 17/49 | €221,961 | €158,538 | -€63,423 | -28.6% |
| Amounts payable after more than one year | 17 | €85,554 | €52,221 | -€33,333 | -39.0% |
| Financial debts | 170/4 | €85,554 | €52,221 | -€33,333 | -39.0% |
| Amounts payable within one year | 42/48 | €136,407 | €106,317 | -€30,090 | -22.1% |
| Current portion of amounts payable after more than one year | 42 | €33,333 | €83,818 | +€50,484 | +151% |
| Trade debts | 44 | €9,981 | €6,960 | -€3,021 | -30.3% |
| Suppliers | 440/4 | €9,981 | €6,960 | -€3,021 | -30.3% |
| Taxes, remuneration and social security | 45 | €84,110 | €9,984 | -€74,125 | -88.1% |
| Taxes | 450/3 | €79,030 | €6,112 | -€72,919 | -92.3% |
| Remuneration and social security | 454/9 | €5,079 | €3,873 | -€1,206 | -23.8% |
| Other amounts payable | 47/48 | €8,983 | €5,555 | -€3,428 | -38.2% |
| Remuneration, social security and pensions | 62 | €78,479 | €41,203 | -€37,277 | -47.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,893 | €42,597 | -€23,296 | -35.4% |
| Other operating charges | 640/8 | €1,428 | €2,162 | +€734 | +51.4% |
| Gross operating margin | 9900 | €153,995 | €126,540 | -€27,454 | -17.8% |
| Operating profit (loss) | 9901 | €8,195 | €40,579 | +€32,384 | +395% |
| Financial income | 75/76B | €203 | €331 | +€128 | +63.1% |
| Recurring financial income | 75 | €203 | €331 | +€128 | +63.1% |
| Financial charges | 65/66B | €3,879 | €4,358 | +€480 | +12.4% |
| Recurring financial charges | 65 | €3,879 | €3,283 | -€595 | -15.3% |
| Non-recurring financial charges | 66B | - | €1,075 | +€1,075 | |
| Profit (loss) for the period before taxes | 9903 | €4,519 | €36,552 | +€32,033 | +709% |
| Transfer from deferred taxes | 780 | €55,751 | - | -€55,751 | |
| Income taxes | 67/77 | €89,541 | €10,309 | -€79,232 | -88.5% |
| Profit (loss) for the period | 9904 | -€29,270 | €26,243 | +€55,513 | |
| Transfer from tax-exempt reserves | 789 | €223,005 | - | -€223,005 | |
| Profit (loss) for the period to be appropriated | 9905 | €193,735 | €26,243 | -€167,492 | -86.5% |
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.