Peter Bronzwaer: 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.
Peter Bronzwaer
Largest movements
- Receivables within one year +€10,804
up €10,804 (+54.4%), from €19,845 to €30,649
- Cash +€8,078
up €8,078 (+8.8%), from €91,280 to €99,357
mainly Net result for the year (+€18,674) and Deferred charges and accrued income (+€6,557)
- Deferred charges and accrued income -€6,557
down €6,557 (-65.8%), from €9,958 to €3,401
- Tangible fixed assets -€3,050
down €3,050 (-44.7%), from €6,829 to €3,780
of which Furniture and vehicles: -€1,996
- Reserves +€18,674
up €18,674 (+25.6%), from €72,900 to €91,574
- Tax, wage and social debts -€8,987
down €8,987 (-35.0%), from €25,650 to €16,663
of which Taxes: -€10,429
- Gross operating margin -€9,867
down €9,867 (-24.1%), from €41,023 to €31,156
- Taxes -€2,214
down €2,214 (-26.0%), from €8,507 to €6,293
- Other operating charges +€636
up €636 (+108.0%), from €589 to €1,225
- Depreciation +€586
up €586 (+12.9%), from €4,530 to €5,116
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 | €127,912 | €137,187 | +€9,275 | +7.3% |
| Fixed assets | 21/28 | €6,829 | €3,780 | -€3,050 | -44.7% |
| Tangible fixed assets | 22/27 | €6,829 | €3,780 | -€3,050 | -44.7% |
| Plant, machinery and equipment | 23 | €2,258 | €1,205 | -€1,053 | -46.6% |
| Furniture and vehicles | 24 | €4,571 | €2,575 | -€1,996 | -43.7% |
| Current assets | 29/58 | €121,083 | €133,408 | +€12,325 | +10.2% |
| Amounts receivable within one year | 40/41 | €19,845 | €30,649 | +€10,804 | +54.4% |
| Trade receivables | 40 | €19,845 | €30,649 | +€10,804 | +54.4% |
| Cash at bank and in hand | 54/58 | €91,280 | €99,357 | +€8,078 | +8.8% |
| Deferred charges and accrued income | 490/1 | €9,958 | €3,401 | -€6,557 | -65.8% |
| Total equity and liabilities | 10/49 | €127,912 | €137,187 | +€9,275 | +7.3% |
| Equity | 10/15 | €75,900 | €94,574 | +€18,674 | +24.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €72,900 | €91,574 | +€18,674 | +25.6% |
| Distributable reserves | 133 | €72,900 | €91,574 | +€18,674 | +25.6% |
| Amounts payable | 17/49 | €52,013 | €42,614 | -€9,399 | -18.1% |
| Amounts payable within one year | 42/48 | €52,013 | €42,614 | -€9,399 | -18.1% |
| Trade debts | 44 | €1,236 | €969 | -€267 | -21.6% |
| Suppliers | 440/4 | €1,236 | €969 | -€267 | -21.6% |
| Taxes, remuneration and social security | 45 | €25,650 | €16,663 | -€8,987 | -35.0% |
| Taxes | 450/3 | €25,650 | €15,221 | -€10,429 | -40.7% |
| Remuneration and social security | 454/9 | - | €1,443 | +€1,443 | |
| Other amounts payable | 47/48 | €25,127 | €24,982 | -€146 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,530 | €5,116 | +€586 | +12.9% |
| Other operating charges | 640/8 | €589 | €1,225 | +€636 | +108.0% |
| Gross operating margin | 9900 | €41,023 | €31,156 | -€9,867 | -24.1% |
| Operating profit (loss) | 9901 | €35,905 | €24,815 | -€11,089 | -30.9% |
| Financial income | 75/76B | - | €254 | +€254 | |
| Recurring financial income | 75 | - | €254 | +€254 | |
| Financial charges | 65/66B | €104 | €103 | -€1 | -1.1% |
| Recurring financial charges | 65 | €104 | €103 | -€1 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €35,801 | €24,967 | -€10,834 | -30.3% |
| Income taxes | 67/77 | €8,507 | €6,293 | -€2,214 | -26.0% |
| Profit (loss) for the period | 9904 | €27,294 | €18,674 | -€8,620 | -31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,294 | €18,674 | -€8,620 | -31.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.