PETER FEYEN: 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 FEYEN
Largest movements
- Receivables within one year -€87,060
down €87,060 (-99.5%), from €87,478 to €419
of which Other amounts receivable: -€85,786
- Cash -€20,451
down €20,451 (-16.9%), from €120,708 to €100,257
mainly Contributions, distributions and other (-€188,126) and Tax, wage and social debts (-€13,943)
- Tangible fixed assets -€10,028
down €10,028 (-62.1%), from €16,160 to €6,132
- Reserves -€102,227
down €102,227 (-56.0%), from €182,626 to €80,398
- Tax, wage and social debts -€13,943
down €13,943 (-39.4%), from €35,394 to €21,451
- Contributions -€5,500
down €5,500 (-100%), from €5,500 to €0
- Other debts +€5,060
new in 2025: €5,060
- Gross operating margin +€14,529
up €14,529 (+14.4%), from €100,794 to €115,323
- Financial income -€2,674
down €2,674 (-100%), from €2,674 to €0
- Taxes +€2,474
up €2,474 (+11.5%), from €21,451 to €23,925
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 | €225,947 | €108,448 | -€117,499 | -52.0% |
| Fixed assets | 21/28 | €16,160 | €6,132 | -€10,028 | -62.1% |
| Tangible fixed assets | 22/27 | €16,160 | €6,132 | -€10,028 | -62.1% |
| Furniture and vehicles | 24 | €16,160 | €6,132 | -€10,028 | -62.1% |
| Current assets | 29/58 | €209,786 | €102,316 | -€107,470 | -51.2% |
| Amounts receivable within one year | 40/41 | €87,478 | €419 | -€87,060 | -99.5% |
| Trade receivables | 40 | €1,274 | €0 | -€1,274 | -100% |
| Other amounts receivable | 41 | €86,205 | €419 | -€85,786 | -99.5% |
| Cash at bank and in hand | 54/58 | €120,708 | €100,257 | -€20,451 | -16.9% |
| Deferred charges and accrued income | 490/1 | €1,600 | €1,641 | +€41 | +2.5% |
| Total equity and liabilities | 10/49 | €225,947 | €108,448 | -€117,499 | -52.0% |
| Equity | 10/15 | €188,126 | €80,398 | -€107,727 | -57.3% |
| Contributions | 10/11 | €5,500 | €0 | -€5,500 | -100% |
| Reserves | 13 | €182,626 | €80,398 | -€102,227 | -56.0% |
| Distributable reserves | 133 | €182,626 | €80,398 | -€102,227 | -56.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €37,821 | €28,050 | -€9,771 | -25.8% |
| Amounts payable within one year | 42/48 | €37,821 | €28,050 | -€9,771 | -25.8% |
| Trade debts | 44 | €2,427 | €1,538 | -€888 | -36.6% |
| Suppliers | 440/4 | €2,427 | €1,538 | -€888 | -36.6% |
| Taxes, remuneration and social security | 45 | €35,394 | €21,451 | -€13,943 | -39.4% |
| Taxes | 450/3 | €35,394 | €21,451 | -€13,943 | -39.4% |
| Other amounts payable | 47/48 | - | €5,060 | +€5,060 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,749 | €10,028 | -€720 | -6.7% |
| Other operating charges | 640/8 | €796 | €752 | -€44 | -5.5% |
| Gross operating margin | 9900 | €100,794 | €115,323 | +€14,529 | +14.4% |
| Operating profit (loss) | 9901 | €89,249 | €104,542 | +€15,293 | +17.1% |
| Financial income | 75/76B | €2,674 | €0 | -€2,674 | -100% |
| Recurring financial income | 75 | €2,674 | €0 | -€2,674 | -100% |
| Financial charges | 65/66B | €212 | €219 | +€7 | +3.4% |
| Recurring financial charges | 65 | €212 | €219 | +€7 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €91,712 | €104,323 | +€12,612 | +13.8% |
| Income taxes | 67/77 | €21,451 | €23,925 | +€2,474 | +11.5% |
| Profit (loss) for the period | 9904 | €70,260 | €80,398 | +€10,138 | +14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €70,260 | €80,398 | +€10,138 | +14.4% |
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.