PEETERS-GOVERS: 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
PEETERS-GOVERS
NACE 70.200, Business and other management consultancy
financial year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€1.7m
2025 · €6.5m-€4.8m
Equity
€18.1m
2025 · €19.5m-€1.4m
Cash
€664,030
2025 · €2.5m-€1.8m
Balance sheet total
€26.7m
2025 · €28.2m-€1.6m
Largest movements
Assets
- Cash -€1.8m
down €1.8m (-73.4%), from €2.5m to €664,030
mainly Contributions, distributions and other (-€3.1m) and Receivables within one year (-€312,482)
- Receivables within one year +€312,482
up €312,482 (+21.4%), from €1.5m to €1.8m
of which Other amounts receivable: +€463,646
Equity and liabilities
- Reserves -€1.4m
down €1.4m (-7.4%), from €18.8m to €17.4m
of which Distributable reserves: -€1.6m
Income statement
- Financial income -€4.9m
down €4.9m (-86.7%), from €5.6m to €747,631
of which Financial income: -€5.4m
- Write-downs -€1.6m
down €1.6m, from €1.6m to -€57,896
- Services and other goods +€391,855
up €391,855 (+10.1%), from €3.9m to €4.3m
- Turnover -€337,629
down €337,629 (-20.0%), from €1.7m to €1.3m
- Other operating charges +€287,452
up €287,452 (+67.1%), from €428,085 to €715,537
From the 2025 result to the 2026 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 2025
€6.5m
Turnover
-€337,629
Other operating income
-€223,061
Services and other goods
-€391,855
Staff costs
-€50,907
Depreciation
-€17,658
Write-downs
+€1.6m
Other operating charges
-€287,452
Other operating items
+€826
Financial income
-€4.9m
Financial charges
+€39,442
Taxes
-€267,754
Result 2026
€1.7m
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.4m
Investment
-€144,614
Financing
-€3.1m
Cash 2025
€2.5m
From operations (derived)
+€1.4m
Net result for the year
+€1.7m
Depreciation
+€93,830
Receivables after one year
+€229,762
Receivables within one year
-€312,482
Deferred charges and accrued income
-€127,954
Trade debts
+€192,718
Tax, wage and social debts
-€147,282
Other debts
-€226,940
Accrued charges and deferred income
-€8,583
Investment (derived)
-€144,614
Investment in fixed assets (net)
-€144,614
Financing
-€3.1m
Debts after one year
-€26,760
Current portion of long-term debt
+€40,481
Contributions, distributions and other
-€3.1m
Cash 2026
€664,030
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €28,234,659 | €26,662,053 | -€1.6m | -5.6% |
| Fixed assets | 21/28 | €21,163,543 | €21,214,328 | +€50,785 | +0.2% |
| Intangible fixed assets | 21 | €7,649 | €2,770 | -€4,878 | -63.8% |
| Tangible fixed assets | 22/27 | €201,994 | €288,457 | +€86,463 | +42.8% |
| Plant, machinery and equipment | 23 | €40,965 | €44,906 | +€3,941 | +9.6% |
| Furniture and vehicles | 24 | €161,029 | €243,551 | +€82,522 | +51.2% |
| Financial fixed assets | 28 | €20,953,901 | €20,923,101 | -€30,800 | -0.1% |
| Affiliated companies | 280/1 | €20,953,901 | €20,923,101 | -€30,800 | -0.1% |
| Participating interests | 280 | €20,953,901 | €20,923,101 | -€30,800 | -0.1% |
| Other financial fixed assets | 284/8 | €0 | - | = | |
| Shares | 284 | €0 | - | = | |
| Amounts receivable and cash guarantees | 285/8 | €0 | - | = | |
| Current assets | 29/58 | €7,071,115 | €5,447,725 | -€1.6m | -23.0% |
| Amounts receivable after more than one year | 29 | €3,002,492 | €2,772,730 | -€229,762 | -7.7% |
| Other amounts receivable | 291 | €3,002,492 | €2,772,730 | -€229,762 | -7.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,459,764 | €1,772,246 | +€312,482 | +21.4% |
| Trade receivables | 40 | €1,245,963 | €1,094,799 | -€151,165 | -12.1% |
| Other amounts receivable | 41 | €213,801 | €677,447 | +€463,646 | +216.9% |
| Current investments | 50/53 | €0 | - | = | |
| Other investments | 51/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €2,498,094 | €664,030 | -€1.8m | -73.4% |
| Deferred charges and accrued income | 490/1 | €110,765 | €238,719 | +€127,954 | +115.5% |
| Total equity and liabilities | 10/49 | €28,234,659 | €26,662,053 | -€1.6m | -5.6% |
| Equity | 10/15 | €19,489,931 | €18,093,691 | -€1.4m | -7.2% |
| Contributions | 10/11 | €730,677 | €730,677 | = | 0.0% |
| Capital | 10 | €715,076 | €715,076 | = | 0.0% |
| Issued capital | 100 | €715,076 | €715,076 | = | 0.0% |
| Contributions outside capital | 11 | €15,601 | €15,601 | = | 0.0% |
| Share premium | 1100/10 | €15,601 | €15,601 | = | 0.0% |
| Reserves | 13 | €18,756,410 | €17,361,910 | -€1.4m | -7.4% |
| Non-distributable reserves | 130/1 | €85,319 | €85,319 | = | 0.0% |
| Legal reserve | 130 | €85,319 | €85,319 | = | 0.0% |
| Tax-exempt reserves | 132 | €146,091 | €356,591 | +€210,500 | +144.1% |
| Distributable reserves | 133 | €18,525,000 | €16,920,000 | -€1.6m | -8.7% |
| Profit (loss) carried forward | 14 | €2,844 | €1,104 | -€1,740 | -61.2% |
| Amounts payable | 17/49 | €8,744,728 | €8,568,362 | -€176,366 | -2.0% |
| Amounts payable after more than one year | 17 | €2,317,557 | €2,290,797 | -€26,760 | -1.2% |
| Financial debts | 170/4 | €1,456,553 | €1,463,035 | +€6,482 | +0.4% |
| Credit institutions | 173 | €56,553 | €63,035 | +€6,482 | +11.5% |
| Other loans | 174 | €1,400,000 | €1,400,000 | = | 0.0% |
| Other amounts payable | 178/9 | €861,005 | €827,763 | -€33,242 | -3.9% |
| Amounts payable within one year | 42/48 | €6,418,588 | €6,277,565 | -€141,023 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €54,365 | €94,846 | +€40,481 | +74.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €601,005 | €793,722 | +€192,718 | +32.1% |
| Suppliers | 440/4 | €601,005 | €793,722 | +€192,718 | +32.1% |
| Taxes, remuneration and social security | 45 | €485,406 | €338,124 | -€147,282 | -30.3% |
| Taxes | 450/3 | €234,833 | €50,567 | -€184,266 | -78.5% |
| Remuneration and social security | 454/9 | €250,573 | €287,557 | +€36,984 | +14.8% |
| Other amounts payable | 47/48 | €5,277,812 | €5,050,872 | -€226,940 | -4.3% |
| Accrued charges and deferred income | 492/3 | €8,583 | €0 | -€8,583 | -100.0% |
| Operating income | 70/76A | €9,187,401 | €8,627,538 | -€559,863 | -6.1% |
| Turnover | 70 | €1,685,938 | €1,348,309 | -€337,629 | -20.0% |
| Other operating income | 74 | €7,501,464 | €7,278,403 | -€223,061 | -3.0% |
| Non-recurring operating income | 76A | - | €826 | +€826 | |
| Operating charges | 60/66A | €7,762,080 | €6,875,158 | -€886,921 | -11.4% |
| Services and other goods | 61 | €3,890,932 | €4,282,787 | +€391,855 | +10.1% |
| Remuneration, social security and pensions | 62 | €1,789,994 | €1,840,901 | +€50,907 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,172 | €93,830 | +€17,658 | +23.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,576,896 | -€57,896 | -€1.6m | |
| Other operating charges | 640/8 | €428,085 | €715,537 | +€287,452 | +67.1% |
| Operating profit (loss) | 9901 | €1,425,322 | €1,752,380 | +€327,058 | +22.9% |
| Financial income | 75/76B | €5,641,570 | €747,631 | -€4.9m | -86.7% |
| Recurring financial income | 75 | €5,641,570 | €222,631 | -€5.4m | -96.1% |
| Income from financial fixed assets | 750 | €5,600,133 | €142,697 | -€5.5m | -97.5% |
| Income from current assets | 751 | €41,300 | €79,878 | +€38,578 | +93.4% |
| Other financial income | 752/9 | €138 | €56 | -€81 | -58.9% |
| Non-recurring financial income | 76B | - | €525,000 | +€525,000 | |
| Financial charges | 65/66B | €258,794 | €219,353 | -€39,442 | -15.2% |
| Recurring financial charges | 65 | €258,794 | €219,353 | -€39,442 | -15.2% |
| Debt charges | 650 | €241,768 | €206,122 | -€35,646 | -14.7% |
| Other financial charges | 652/9 | €17,026 | €13,230 | -€3,796 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €6,808,097 | €2,280,658 | -€4.5m | -66.5% |
| Income taxes | 67/77 | €304,144 | €571,898 | +€267,754 | +88.0% |
| Taxes | 670/3 | €304,144 | €571,898 | +€267,754 | +88.0% |
| Profit (loss) for the period | 9904 | €6,503,953 | €1,708,760 | -€4.8m | -73.7% |
| Transfer from tax-exempt reserves | 789 | €80,279 | €0 | -€80,279 | -100.0% |
| Transfer to tax-exempt reserves | 689 | €105,250 | €210,500 | +€105,250 | +100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,478,982 | €1,498,260 | -€5.0m | -76.9% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.