Peter De Vilder: 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 De Vilder
Largest movements
- Cash -€11,851
down €11,851 (-13.9%), from €85,556 to €73,705
mainly Current investments (-€10,915) and Receivables within one year (-€9,854)
- Current investments +€10,915
up €10,915 (+9.8%), from €111,867 to €122,782
- Receivables within one year +€9,854
up €9,854 (+68.7%), from €14,347 to €24,200
of which Other amounts receivable: +€8,566
- Tangible fixed assets -€7,407
down €7,407 (-64.3%), from €11,521 to €4,114
of which Furniture and vehicles: -€7,124
- Profit (loss) carried forward +€3,699
up €3,699, from -€1,156 to €2,542
- Depreciation -€8,761
down €8,761 (-71.9%), from €12,180 to €3,419
- Gross operating margin +€5,484
up €5,484 (+374%), from €1,465 to €6,949
- Financial income -€4,731
down €4,731 (-54.7%), from €8,656 to €3,926
- Financial charges +€3,333
up €3,333, from -€1,609 to €1,724
- Taxes +€1,069
up €1,069 (+835%), from €128 to €1,197
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 | €233,861 | €235,201 | +€1,340 | +0.6% |
| Fixed assets | 21/28 | €11,521 | €4,114 | -€7,407 | -64.3% |
| Tangible fixed assets | 22/27 | €11,521 | €4,114 | -€7,407 | -64.3% |
| Plant, machinery and equipment | 23 | €568 | €285 | -€283 | -49.8% |
| Furniture and vehicles | 24 | €10,953 | €3,829 | -€7,124 | -65.0% |
| Current assets | 29/58 | €222,340 | €231,087 | +€8,747 | +3.9% |
| Amounts receivable after more than one year | 29 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 291 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,347 | €24,200 | +€9,854 | +68.7% |
| Trade receivables | 40 | €30 | €1,317 | +€1,287 | +4,290% |
| Other amounts receivable | 41 | €14,317 | €22,883 | +€8,566 | +59.8% |
| Current investments | 50/53 | €111,867 | €122,782 | +€10,915 | +9.8% |
| Cash at bank and in hand | 54/58 | €85,556 | €73,705 | -€11,851 | -13.9% |
| Deferred charges and accrued income | 490/1 | €571 | €400 | -€171 | -30.0% |
| Total equity and liabilities | 10/49 | €233,861 | €235,201 | +€1,340 | +0.6% |
| Equity | 10/15 | €229,406 | €233,105 | +€3,699 | +1.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €218,163 | €218,163 | = | 0.0% |
| Distributable reserves | 133 | €218,163 | €218,163 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,156 | €2,542 | +€3,699 | |
| Amounts payable | 17/49 | €4,455 | €2,096 | -€2,359 | -52.9% |
| Amounts payable within one year | 42/48 | €4,455 | €2,096 | -€2,359 | -52.9% |
| Trade debts | 44 | €1,798 | €1,575 | -€223 | -12.4% |
| Suppliers | 440/4 | €1,798 | €1,575 | -€223 | -12.4% |
| Taxes, remuneration and social security | 45 | €2,658 | €522 | -€2,136 | -80.4% |
| Taxes | 450/3 | €2,658 | €522 | -€2,136 | -80.4% |
| Non-recurring operating income | 76A | - | €10,515 | +€10,515 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,180 | €3,419 | -€8,761 | -71.9% |
| Other operating charges | 640/8 | €578 | €836 | +€257 | +44.5% |
| Gross operating margin | 9900 | €1,465 | €6,949 | +€5,484 | +374% |
| Operating profit (loss) | 9901 | -€11,294 | €2,694 | +€13,988 | |
| Financial income | 75/76B | €8,656 | €3,926 | -€4,731 | -54.7% |
| Recurring financial income | 75 | €8,656 | €3,926 | -€4,731 | -54.7% |
| Financial charges | 65/66B | -€1,609 | €1,724 | +€3,333 | |
| Recurring financial charges | 65 | -€1,609 | €1,724 | +€3,333 | |
| Profit (loss) for the period before taxes | 9903 | -€1,028 | €4,895 | +€5,924 | |
| Income taxes | 67/77 | €128 | €1,197 | +€1,069 | +835% |
| Profit (loss) for the period | 9904 | -€1,156 | €3,699 | +€4,855 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,156 | €3,699 | +€4,855 |
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 14 October 2026 via checked.be.