PEIL: what changed
Two fiscal 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.
PEIL
Largest movements
- Cash +€183,329
up €183,329 (+145.1%), from €126,358 to €309,687
mainly Current investments (+€125,000) and Depreciation (+€37,076)
- Current investments -€125,000
no longer reported in 2025 (was €125,000)
- Tangible fixed assets -€24,470
down €24,470 (-11.3%), from €216,230 to €191,760
of which Land and buildings: -€31,278
- Receivables within one year -€17,885
down €17,885 (-48.1%), from €37,222 to €19,337
of which Other amounts receivable: -€15,006
- Stocks and contracts +€12,051
up €12,051 (+13.1%), from €92,075 to €104,126
- Reserves +€20,230
up €20,230 (+10.3%), from €196,250 to €216,480
- Tax, wage and social debts +€11,318
up €11,318 (+54.7%), from €20,694 to €32,012
of which Taxes: +€9,082
- Staff costs +€31,928
up €31,928 (+57.0%), from €56,002 to €87,929
- Gross operating margin +€22,436
up €22,436 (+15.2%), from €147,151 to €169,586
- Taxes +€10,587
up €10,587 (+190.6%), from €5,555 to €16,142
- Financial income +€5,937
up €5,937 (+380.8%), from €1,559 to €7,496
- Depreciation -€5,425
down €5,425 (-12.8%), from €42,501 to €37,076
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 | €603,495 | €631,764 | +€28,269 | +4.7% |
| Fixed assets | 21/28 | €216,230 | €191,760 | -€24,470 | -11.3% |
| Tangible fixed assets | 22/27 | €216,230 | €191,760 | -€24,470 | -11.3% |
| Land and buildings | 22 | €185,557 | €154,279 | -€31,278 | -16.9% |
| Plant, machinery and equipment | 23 | €28,960 | €35,681 | +€6,721 | +23.2% |
| Furniture and vehicles | 24 | €1,713 | €1,800 | +€87 | +5.1% |
| Current assets | 29/58 | €387,265 | €440,003 | +€52,739 | +13.6% |
| Stocks and contracts in progress | 3 | €92,075 | €104,126 | +€12,051 | +13.1% |
| Stocks | 30/36 | €92,075 | €104,126 | +€12,051 | +13.1% |
| Amounts receivable within one year | 40/41 | €37,222 | €19,337 | -€17,885 | -48.1% |
| Trade receivables | 40 | €3,216 | €337 | -€2,879 | -89.5% |
| Other amounts receivable | 41 | €34,006 | €19,000 | -€15,006 | -44.1% |
| Current investments | 50/53 | €125,000 | - | -€125,000 | |
| Cash at bank and in hand | 54/58 | €126,358 | €309,687 | +€183,329 | +145.1% |
| Deferred charges and accrued income | 490/1 | €6,609 | €6,853 | +€244 | +3.7% |
| Total equity and liabilities | 10/49 | €603,495 | €631,764 | +€28,269 | +4.7% |
| Equity | 10/15 | €214,842 | €235,072 | +€20,230 | +9.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €196,250 | €216,480 | +€20,230 | +10.3% |
| Distributable reserves | 133 | €196,250 | €216,480 | +€20,230 | +10.3% |
| Amounts payable | 17/49 | €388,653 | €396,692 | +€8,039 | +2.1% |
| Amounts payable after more than one year | 17 | €297,237 | €295,481 | -€1,756 | -0.6% |
| Financial debts | 170/4 | €297,237 | €295,481 | -€1,756 | -0.6% |
| Amounts payable within one year | 42/48 | €91,416 | €101,211 | +€9,795 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €1,682 | €1,756 | +€74 | +4.4% |
| Trade debts | 44 | €52,914 | €51,002 | -€1,912 | -3.6% |
| Suppliers | 440/4 | €52,914 | €51,002 | -€1,912 | -3.6% |
| Taxes, remuneration and social security | 45 | €20,694 | €32,012 | +€11,318 | +54.7% |
| Taxes | 450/3 | €7,555 | €16,637 | +€9,082 | +120.2% |
| Remuneration and social security | 454/9 | €13,139 | €15,375 | +€2,236 | +17.0% |
| Other amounts payable | 47/48 | €16,127 | €16,441 | +€314 | +1.9% |
| Non-recurring operating income | 76A | €26,133 | €400 | -€25,733 | -98.5% |
| Remuneration, social security and pensions | 62 | €56,002 | €87,929 | +€31,928 | +57.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,501 | €37,076 | -€5,425 | -12.8% |
| Other operating charges | 640/8 | €3,181 | €3,645 | +€464 | +14.6% |
| Gross operating margin | 9900 | €147,151 | €169,586 | +€22,436 | +15.2% |
| Operating profit (loss) | 9901 | €45,467 | €40,936 | -€4,530 | -10.0% |
| Financial income | 75/76B | €1,559 | €7,496 | +€5,937 | +380.8% |
| Recurring financial income | 75 | €1,559 | €7,496 | +€5,937 | +380.8% |
| Financial charges | 65/66B | €11,014 | €12,060 | +€1,047 | +9.5% |
| Recurring financial charges | 65 | €11,014 | €12,060 | +€1,047 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | €36,012 | €36,372 | +€360 | +1.0% |
| Income taxes | 67/77 | €5,555 | €16,142 | +€10,587 | +190.6% |
| Profit (loss) for the period | 9904 | €30,458 | €20,230 | -€10,227 | -33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €30,458 | €20,230 | -€10,227 | -33.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2024 and 31 January 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.