PEETERS KAREL: what changed
PEETERS KAREL
Largest movements
- Tangible fixed assets -€639,470
down €639,470 (-57.6%), from €1.1m to €470,095
of which Land and buildings: -€640,935
- Deferred charges and accrued income -€172,140
down €172,140 (-100%), from €172,140 to €0
- Stocks and contracts +€103,656
up €103,656 (+58.7%), from €176,480 to €280,136
of which Stocks: +€111,761
- Cash -€54,194
down €54,194 (-23.6%), from €229,275 to €175,081
mainly Debts after one year (-€472,034) and Accrued charges and deferred income (-€370,580)
- Debts after one year -€472,034
down €472,034 (-29.1%), from €1.6m to €1.2m
- Accrued charges and deferred income -€370,580
down €370,580 (-98.5%), from €376,184 to €5,604
- Other debts -€311,181
down €311,181 (-94.4%), from €329,602 to €18,421
- Profit (loss) carried forward +€229,990
up €229,990 (+28.4%), from -€810,207 to -€580,217
- Short-term financial debts +€150,000
new in 2025: €150,000
- Financial income +€560,452
up €560,452 (+413%), from €135,674 to €696,125
of which Non-recurring financial income: +€690,334
- Gross operating margin -€137,906
down €137,906 (-18.2%), from €758,906 to €621,001
- Depreciation -€57,898
down €57,898 (-51.7%), from €112,067 to €54,170
- Financial charges -€36,287
down €36,287 (-36.5%), from €99,530 to €63,243
of which Financial charges: -€23,383
- Staff costs -€32,602
down €32,602 (-8.4%), from €386,221 to €353,619
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,933,107 | €1,160,498 | -€772,610 | -40.0% |
| Fixed assets | 21/28 | €1,120,743 | €483,651 | -€637,091 | -56.8% |
| Intangible fixed assets | 21 | €11,177 | €13,556 | +€2,378 | +21.3% |
| Tangible fixed assets | 22/27 | €1,109,565 | €470,095 | -€639,470 | -57.6% |
| Land and buildings | 22 | €1,068,935 | €428,000 | -€640,935 | -60.0% |
| Plant, machinery and equipment | 23 | €40,630 | €42,095 | +€1,465 | +3.6% |
| Current assets | 29/58 | €812,365 | €676,846 | -€135,518 | -16.7% |
| Stocks and contracts in progress | 3 | €176,480 | €280,136 | +€103,656 | +58.7% |
| Stocks | 30/36 | €107,637 | €219,398 | +€111,761 | +104% |
| Contracts in progress | 37 | €68,843 | €60,738 | -€8,104 | -11.8% |
| Amounts receivable within one year | 40/41 | €234,470 | €221,629 | -€12,841 | -5.5% |
| Trade receivables | 40 | €214,630 | €206,532 | -€8,098 | -3.8% |
| Other amounts receivable | 41 | €19,840 | €15,097 | -€4,743 | -23.9% |
| Cash at bank and in hand | 54/58 | €229,275 | €175,081 | -€54,194 | -23.6% |
| Deferred charges and accrued income | 490/1 | €172,140 | €0 | -€172,140 | -100% |
| Total equity and liabilities | 10/49 | €1,933,107 | €1,160,498 | -€772,610 | -40.0% |
| Equity | 10/15 | -€655,208 | -€425,218 | +€229,990 | +35.1% |
| Contributions | 10/11 | €103,300 | €103,300 | = | 0.0% |
| Capital | 10 | €103,300 | €103,300 | = | 0.0% |
| Issued capital | 100 | €103,300 | €103,300 | = | 0.0% |
| Reserves | 13 | €51,699 | €51,699 | = | 0.0% |
| Tax-exempt reserves | 132 | €48,121 | €48,121 | = | 0.0% |
| Distributable reserves | 133 | €3,578 | €3,578 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€810,207 | -€580,217 | +€229,990 | +28.4% |
| Amounts payable | 17/49 | €2,588,315 | €1,585,716 | -€1.0m | -38.7% |
| Amounts payable after more than one year | 17 | €1,623,604 | €1,151,570 | -€472,034 | -29.1% |
| Financial debts | 170/4 | €1,623,604 | €1,151,570 | -€472,034 | -29.1% |
| Amounts payable within one year | 42/48 | €588,527 | €428,542 | -€159,985 | -27.2% |
| Current portion of amounts payable after more than one year | 42 | €95,080 | €114,127 | +€19,047 | +20.0% |
| Financial debts | 43 | - | €150,000 | +€150,000 | |
| Credit institutions | 430/8 | - | €150,000 | +€150,000 | |
| Trade debts | 44 | €133,505 | €98,795 | -€34,709 | -26.0% |
| Suppliers | 440/4 | €133,505 | €98,795 | -€34,709 | -26.0% |
| Taxes, remuneration and social security | 45 | €30,341 | €47,198 | +€16,858 | +55.6% |
| Taxes | 450/3 | - | €879 | +€879 | |
| Remuneration and social security | 454/9 | €30,341 | €46,320 | +€15,979 | +52.7% |
| Other amounts payable | 47/48 | €329,602 | €18,421 | -€311,181 | -94.4% |
| Accrued charges and deferred income | 492/3 | €376,184 | €5,604 | -€370,580 | -98.5% |
| Remuneration, social security and pensions | 62 | €386,221 | €353,619 | -€32,602 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,067 | €54,170 | -€57,898 | -51.7% |
| Other operating charges | 640/8 | €11,101 | €11,549 | +€448 | +4.0% |
| Non-recurring operating charges | 66A | - | €603,677 | +€603,677 | |
| Gross operating margin | 9900 | €758,906 | €621,001 | -€137,906 | -18.2% |
| Operating profit (loss) | 9901 | €249,517 | -€402,014 | -€651,531 | |
| Financial income | 75/76B | €135,674 | €696,125 | +€560,452 | +413% |
| Recurring financial income | 75 | €135,674 | €5,791 | -€129,882 | -95.7% |
| Non-recurring financial income | 76B | - | €690,334 | +€690,334 | |
| Financial charges | 65/66B | €99,530 | €63,243 | -€36,287 | -36.5% |
| Recurring financial charges | 65 | €86,626 | €63,243 | -€23,383 | -27.0% |
| Non-recurring financial charges | 66B | €12,904 | €0 | -€12,904 | -100% |
| Profit (loss) for the period before taxes | 9903 | €285,660 | €230,868 | -€54,792 | -19.2% |
| Income taxes | 67/77 | - | €879 | +€879 | |
| Profit (loss) for the period | 9904 | €285,660 | €229,990 | -€55,670 | -19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €285,660 | €229,990 | -€55,670 | -19.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.