Peeters Norbert: 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 Norbert
Largest movements
- Cash +€44,422
up €44,422 (+433%), from €10,266 to €54,688
mainly Net result for the year (+€42,141) and Stocks and contracts (+€34,341)
- Current investments +€35,000
new in 2025: €35,000
- Stocks and contracts -€34,341
down €34,341 (-70.9%), from €48,456 to €14,115
- Deferred charges and accrued income +€8,039
up €8,039 (+427%), from €1,881 to €9,920
- Tangible fixed assets +€5,830
up €5,830 (+24.8%), from €23,492 to €29,322
of which Furniture and vehicles: +€9,257
- Reserves +€42,141
up €42,141 (+40.7%), from €103,540 to €145,682
- Accrued charges and deferred income +€15,895
up €15,895, from €0 to €15,895
- Tax, wage and social debts -€7,223
down €7,223 (-37.2%), from €19,430 to €12,207
of which Taxes: -€4,276
- Other debts +€3,701
up €3,701 (+140%), from €2,650 to €6,351
- Turnover +€75,459
up €75,459 (+23.6%), from €319,442 to €394,901
- Gross operating margin +€43,169
up €43,169 (+66.6%), from €64,833 to €108,002
- Purchases and services +€42,593
up €42,593 (+16.7%), from €254,609 to €297,203
- Taxes +€12,157
up €12,157 (+119%), from €10,233 to €22,390
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 | €153,574 | €210,177 | +€56,603 | +36.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €24,190 | €29,322 | +€5,133 | +21.2% |
| Intangible fixed assets | 21 | €698 | €0 | -€698 | -100% |
| Tangible fixed assets | 22/27 | €23,492 | €29,322 | +€5,830 | +24.8% |
| Plant, machinery and equipment | 23 | €22,801 | €19,374 | -€3,427 | -15.0% |
| Furniture and vehicles | 24 | €691 | €9,948 | +€9,257 | +1,340% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Current assets | 29/58 | €129,384 | €180,854 | +€51,470 | +39.8% |
| Stocks and contracts in progress | 3 | €48,456 | €14,115 | -€34,341 | -70.9% |
| Stocks | 30/36 | €48,456 | €14,115 | -€34,341 | -70.9% |
| Amounts receivable within one year | 40/41 | €68,780 | €67,131 | -€1,650 | -2.4% |
| Trade receivables | 40 | €31,990 | €31,586 | -€404 | -1.3% |
| Other amounts receivable | 41 | €36,790 | €35,544 | -€1,246 | -3.4% |
| Current investments | 50/53 | - | €35,000 | +€35,000 | |
| Cash at bank and in hand | 54/58 | €10,266 | €54,688 | +€44,422 | +433% |
| Deferred charges and accrued income | 490/1 | €1,881 | €9,920 | +€8,039 | +427% |
| Total equity and liabilities | 10/49 | €153,574 | €210,177 | +€56,603 | +36.9% |
| Equity | 10/15 | €122,140 | €164,282 | +€42,141 | +34.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €103,540 | €145,682 | +€42,141 | +40.7% |
| Distributable reserves | 133 | €103,540 | €145,682 | +€42,141 | +40.7% |
| Amounts payable | 17/49 | €31,434 | €45,895 | +€14,462 | +46.0% |
| Amounts payable within one year | 42/48 | €31,434 | €30,001 | -€1,433 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | €1,261 | +€1,261 | |
| Trade debts | 44 | €9,353 | €10,182 | +€829 | +8.9% |
| Suppliers | 440/4 | €9,353 | €10,182 | +€829 | +8.9% |
| Taxes, remuneration and social security | 45 | €19,430 | €12,207 | -€7,223 | -37.2% |
| Taxes | 450/3 | €13,480 | €9,204 | -€4,276 | -31.7% |
| Remuneration and social security | 454/9 | €5,950 | €3,003 | -€2,947 | -49.5% |
| Other amounts payable | 47/48 | €2,650 | €6,351 | +€3,701 | +140% |
| Accrued charges and deferred income | 492/3 | €0 | €15,895 | +€15,895 | |
| Turnover | 70 | €319,442 | €394,901 | +€75,459 | +23.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €254,609 | €297,203 | +€42,593 | +16.7% |
| Remuneration, social security and pensions | 62 | €30,881 | €33,717 | +€2,837 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,586 | €6,009 | +€422 | +7.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,577 | +€2,577 | |
| Other operating charges | 640/8 | €999 | €331 | -€668 | -66.9% |
| Gross operating margin | 9900 | €64,833 | €108,002 | +€43,169 | +66.6% |
| Operating profit (loss) | 9901 | €27,366 | €65,368 | +€38,002 | +139% |
| Financial income | 75/76B | €1,475 | €1,755 | +€280 | +19.0% |
| Recurring financial income | 75 | €1,475 | €1,755 | +€280 | +19.0% |
| Financial charges | 65/66B | €2,086 | €2,592 | +€506 | +24.3% |
| Recurring financial charges | 65 | €2,086 | €2,592 | +€506 | +24.3% |
| Non-recurring financial charges | 66B | - | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | €26,756 | €64,531 | +€37,776 | +141% |
| Income taxes | 67/77 | €10,233 | €22,390 | +€12,157 | +119% |
| Profit (loss) for the period | 9904 | €16,522 | €42,141 | +€25,619 | +155% |
| Profit (loss) for the period to be appropriated | 9905 | €16,522 | €42,141 | +€25,619 | +155% |
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.