PETER BAEYENS MANAGEMENT: what changed
PETER BAEYENS MANAGEMENT
Largest movements
- Financial fixed assets +€90,361
up €90,361 (+15.5%), from €584,579 to €674,940
- Receivables after one year -€29,789
down €29,789 (-100%), from €29,789 to €0
- Cash +€19,237
up €19,237 (+36.9%), from €52,090 to €71,327
mainly Net result for the year (+€96,902) and Receivables after one year (+€29,789)
- Tangible fixed assets -€14,778
down €14,778 (-6.7%), from €222,164 to €207,386
of which Land and buildings: -€10,560
- Reserves +€62,889
up €62,889 (+17.1%), from €368,751 to €431,640
- Debts after one year -€33,569
down €33,569 (-21.4%), from €156,933 to €123,364
- Tax, wage and social debts +€21,341
up €21,341 (+244%), from €8,731 to €30,071
- Other debts +€18,933
up €18,933 (+122%), from €15,538 to €34,472
- Gross operating margin +€29,395
up €29,395 (+28.1%), from €104,486 to €133,881
- Financial income +€24,093
up €24,093 (+481%), from €5,010 to €29,103
of which Non-recurring financial income: +€13,500
- Taxes +€14,727
up €14,727 (+48.0%), from €30,699 to €45,427
- Depreciation -€3,165
down €3,165 (-21.7%), from €14,619 to €11,454
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 | €1,067,731 | €1,143,833 | +€76,102 | +7.1% |
| Fixed assets | 21/28 | €806,743 | €882,326 | +€75,583 | +9.4% |
| Tangible fixed assets | 22/27 | €222,164 | €207,386 | -€14,778 | -6.7% |
| Land and buildings | 22 | €208,799 | €198,239 | -€10,560 | -5.1% |
| Furniture and vehicles | 24 | €13,364 | €9,147 | -€4,217 | -31.6% |
| Financial fixed assets | 28 | €584,579 | €674,940 | +€90,361 | +15.5% |
| Current assets | 29/58 | €260,988 | €261,507 | +€519 | +0.2% |
| Amounts receivable after more than one year | 29 | €29,789 | €0 | -€29,789 | -100% |
| Trade receivables | 290 | €29,789 | €0 | -€29,789 | -100% |
| Amounts receivable within one year | 40/41 | €0 | €9,870 | +€9,870 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | €9,870 | +€9,870 | |
| Current investments | 50/53 | €175,970 | €175,970 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €52,090 | €71,327 | +€19,237 | +36.9% |
| Deferred charges and accrued income | 490/1 | €3,139 | €4,340 | +€1,201 | +38.2% |
| Total equity and liabilities | 10/49 | €1,067,731 | €1,143,833 | +€76,102 | +7.1% |
| Equity | 10/15 | €846,043 | €908,932 | +€62,889 | +7.4% |
| Contributions | 10/11 | €477,292 | €477,292 | = | 0.0% |
| Reserves | 13 | €368,751 | €431,640 | +€62,889 | +17.1% |
| Distributable reserves | 133 | €368,751 | €431,640 | +€62,889 | +17.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €221,687 | €234,901 | +€13,214 | +6.0% |
| Amounts payable after more than one year | 17 | €156,933 | €123,364 | -€33,569 | -21.4% |
| Financial debts | 170/4 | €156,933 | €123,364 | -€33,569 | -21.4% |
| Amounts payable within one year | 42/48 | €64,754 | €111,537 | +€46,783 | +72.2% |
| Current portion of amounts payable after more than one year | 42 | €33,034 | €33,569 | +€535 | +1.6% |
| Financial debts | 43 | €4,896 | €9,850 | +€4,953 | +101% |
| Credit institutions | 430/8 | €4,896 | €8,074 | +€3,178 | +64.9% |
| Other loans | 439 | - | €1,776 | +€1,776 | |
| Trade debts | 44 | €2,555 | €3,575 | +€1,020 | +39.9% |
| Suppliers | 440/4 | €2,555 | €3,575 | +€1,020 | +39.9% |
| Taxes, remuneration and social security | 45 | €8,731 | €30,071 | +€21,341 | +244% |
| Taxes | 450/3 | €8,731 | €30,071 | +€21,341 | +244% |
| Other amounts payable | 47/48 | €15,538 | €34,472 | +€18,933 | +122% |
| Non-recurring operating income | 76A | - | €16,732 | +€16,732 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,619 | €11,454 | -€3,165 | -21.7% |
| Other operating charges | 640/8 | €3,873 | €3,690 | -€183 | -4.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €104,486 | €133,881 | +€29,395 | +28.1% |
| Operating profit (loss) | 9901 | €85,995 | €118,737 | +€32,743 | +38.1% |
| Financial income | 75/76B | €5,010 | €29,103 | +€24,093 | +481% |
| Recurring financial income | 75 | €5,010 | €15,603 | +€10,593 | +211% |
| Non-recurring financial income | 76B | - | €13,500 | +€13,500 | |
| Financial charges | 65/66B | €4,232 | €5,512 | +€1,279 | +30.2% |
| Recurring financial charges | 65 | €4,232 | €5,512 | +€1,279 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | €86,773 | €142,329 | +€55,556 | +64.0% |
| Income taxes | 67/77 | €30,699 | €45,427 | +€14,727 | +48.0% |
| Profit (loss) for the period | 9904 | €56,073 | €96,902 | +€40,829 | +72.8% |
| Profit (loss) for the period to be appropriated | 9905 | €56,073 | €96,902 | +€40,829 | +72.8% |
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.