PETER D'HONDT: 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'HONDT
Largest movements
- Cash -€319,965
down €319,965 (-57.1%), from €560,089 to €240,124
mainly Contributions, distributions and other (-€735,000) and Other debts (-€146,857)
- Receivables within one year +€103,827
up €103,827 (+40.4%), from €257,281 to €361,109
of which Trade receivables: +€122,661
- Tangible fixed assets +€48,200
up €48,200 (+62.2%), from €77,548 to €125,748
of which Furniture and vehicles: +€48,691
- Other debts -€146,857
down €146,857 (-20.6%), from €711,808 to €564,950
- Reserves -€12,179
down €12,179 (-72.7%), from €16,742 to €4,564
- Gross operating margin +€40,183
up €40,183 (+4.2%), from €952,186 to €992,369
- Taxes +€18,917
up €18,917 (+8.7%), from €217,689 to €236,606
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,088,243 | €922,965 | -€165,278 | -15.2% |
| Fixed assets | 21/28 | €77,548 | €125,748 | +€48,200 | +62.2% |
| Tangible fixed assets | 22/27 | €77,548 | €125,748 | +€48,200 | +62.2% |
| Furniture and vehicles | 24 | €73,517 | €122,208 | +€48,691 | +66.2% |
| Other tangible fixed assets | 26 | €4,030 | €3,540 | -€491 | -12.2% |
| Current assets | 29/58 | €1,010,695 | €797,217 | -€213,478 | -21.1% |
| Amounts receivable after more than one year | 29 | €190,000 | €190,000 | = | 0.0% |
| Other amounts receivable | 291 | €190,000 | €190,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €257,281 | €361,109 | +€103,827 | +40.4% |
| Trade receivables | 40 | €238,444 | €361,105 | +€122,661 | +51.4% |
| Other amounts receivable | 41 | €18,837 | €4 | -€18,833 | -100.0% |
| Cash at bank and in hand | 54/58 | €560,089 | €240,124 | -€319,965 | -57.1% |
| Deferred charges and accrued income | 490/1 | €3,325 | €5,985 | +€2,660 | +80.0% |
| Total equity and liabilities | 10/49 | €1,088,243 | €922,965 | -€165,278 | -15.2% |
| Equity | 10/15 | €116,742 | €104,564 | -€12,179 | -10.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €16,742 | €4,564 | -€12,179 | -72.7% |
| Distributable reserves | 133 | €16,742 | €4,564 | -€12,179 | -72.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €971,500 | €818,401 | -€153,099 | -15.8% |
| Amounts payable within one year | 42/48 | €964,917 | €812,443 | -€152,474 | -15.8% |
| Trade debts | 44 | €1,371 | €2,340 | +€969 | +70.7% |
| Suppliers | 440/4 | €1,371 | €2,340 | +€969 | +70.7% |
| Taxes, remuneration and social security | 45 | €251,739 | €245,153 | -€6,586 | -2.6% |
| Taxes | 450/3 | €251,739 | €245,153 | -€6,586 | -2.6% |
| Other amounts payable | 47/48 | €711,808 | €564,950 | -€146,857 | -20.6% |
| Accrued charges and deferred income | 492/3 | €6,583 | €5,958 | -€625 | -9.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,259 | €30,030 | +€770 | +2.6% |
| Other operating charges | 640/8 | €4,148 | €1,724 | -€2,424 | -58.4% |
| Non-recurring operating charges | 66A | €1,738 | €572 | -€1,166 | -67.1% |
| Gross operating margin | 9900 | €952,186 | €992,369 | +€40,183 | +4.2% |
| Operating profit (loss) | 9901 | €917,040 | €960,042 | +€43,002 | +4.7% |
| Financial income | 75/76B | €6,650 | €6,650 | = | 0.0% |
| Recurring financial income | 75 | €6,650 | €6,650 | = | 0.0% |
| Financial charges | 65/66B | €8,134 | €7,265 | -€869 | -10.7% |
| Recurring financial charges | 65 | €8,134 | €7,265 | -€869 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €915,556 | €959,428 | +€43,872 | +4.8% |
| Income taxes | 67/77 | €217,689 | €236,606 | +€18,917 | +8.7% |
| Profit (loss) for the period | 9904 | €697,867 | €722,821 | +€24,954 | +3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €697,867 | €722,821 | +€24,954 | +3.6% |
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 26 October 2026 via checked.be.