PETER D'HOLLANDER: 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.
PETER D'HOLLANDER
Largest movements
- Receivables within one year +€4,696
up €4,696 (+18.5%), from €25,417 to €30,113
of which Trade receivables: +€6,496
- Stocks and contracts +€1,577
up €1,577 (+17.6%), from €8,937 to €10,514
- Cash -€1,305
down €1,305 (-43.7%), from €2,986 to €1,681
mainly Receivables within one year (-€4,696) and Stocks and contracts (-€1,577)
- Tangible fixed assets -€1,079
down €1,079 (-48.5%), from €2,222 to €1,143
- Deferred charges and accrued income -€933
down €933 (-100%), from €933 to €0
- Trade debts +€1,835
up €1,835 (+8.2%), from €22,273 to €24,108
- Other debts +€812
up €812 (+11.0%), from €7,397 to €8,209
- Gross operating margin -€2,343
down €2,343 (-48.7%), from €4,813 to €2,470
- Other operating charges -€2,315
down €2,315 (-72.7%), from €3,185 to €870
- Depreciation +€65
up €65 (+6.4%), from €1,014 to €1,079
- Financial charges -€58
down €58 (-21.3%), from €272 to €214
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 | €40,496 | €43,452 | +€2,956 | +7.3% |
| Fixed assets | 21/28 | €2,222 | €1,143 | -€1,079 | -48.5% |
| Tangible fixed assets | 22/27 | €2,222 | €1,143 | -€1,079 | -48.5% |
| Furniture and vehicles | 24 | €2,222 | €1,143 | -€1,079 | -48.5% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €38,274 | €42,308 | +€4,034 | +10.5% |
| Stocks and contracts in progress | 3 | €8,937 | €10,514 | +€1,577 | +17.6% |
| Stocks | 30/36 | €8,937 | €10,514 | +€1,577 | +17.6% |
| Amounts receivable within one year | 40/41 | €25,417 | €30,113 | +€4,696 | +18.5% |
| Trade receivables | 40 | €22,124 | €28,619 | +€6,496 | +29.4% |
| Other amounts receivable | 41 | €3,294 | €1,494 | -€1,800 | -54.6% |
| Cash at bank and in hand | 54/58 | €2,986 | €1,681 | -€1,305 | -43.7% |
| Deferred charges and accrued income | 490/1 | €933 | €0 | -€933 | -100% |
| Total equity and liabilities | 10/49 | €40,496 | €43,452 | +€2,956 | +7.3% |
| Equity | 10/15 | €10,827 | €11,135 | +€308 | +2.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,433 | -€3,125 | +€308 | +9.0% |
| Amounts payable | 17/49 | €29,669 | €32,317 | +€2,648 | +8.9% |
| Amounts payable within one year | 42/48 | €29,669 | €32,317 | +€2,648 | +8.9% |
| Trade debts | 44 | €22,273 | €24,108 | +€1,835 | +8.2% |
| Suppliers | 440/4 | €22,273 | €24,108 | +€1,835 | +8.2% |
| Other amounts payable | 47/48 | €7,397 | €8,209 | +€812 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,014 | €1,079 | +€65 | +6.4% |
| Other operating charges | 640/8 | €3,185 | €870 | -€2,315 | -72.7% |
| Gross operating margin | 9900 | €4,813 | €2,470 | -€2,343 | -48.7% |
| Operating profit (loss) | 9901 | €614 | €521 | -€93 | -15.1% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €272 | €214 | -€58 | -21.3% |
| Recurring financial charges | 65 | €272 | €214 | -€58 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | €343 | €308 | -€35 | -10.1% |
| Profit (loss) for the period | 9904 | €343 | €308 | -€35 | -10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €343 | €308 | -€35 | -10.1% |
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 15 October 2026 via checked.be.