PETER L'ECLUSE: 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 L'ECLUSE
Largest movements
- Cash +€142,520
up €142,520 (+49.0%), from €290,706 to €433,226
mainly Net result for the year (+€245,665) and Receivables after one year (+€57,440)
- Receivables after one year -€57,440
down €57,440 (-13.3%), from €432,275 to €374,835
- Tangible fixed assets +€52,801
up €52,801 (+5.5%), from €961,887 to €1.0m
of which Furniture and vehicles: +€45,936
- Deferred charges and accrued income -€50,108
down €50,108 (-90.6%), from €55,279 to €5,171
- Receivables within one year -€30,006
down €30,006 (-13.7%), from €219,273 to €189,267
- Tax, wage and social debts +€46,501
up €46,501 (+528.2%), from €8,804 to €55,305
- Gross operating margin +€118,423
up €118,423 (+46.0%), from €257,531 to €375,954
- Depreciation -€54,919
down €54,919 (-68.3%), from €80,360 to €25,441
- Taxes +€53,469
up €53,469 (+86.2%), from €62,036 to €115,504
- Financial income -€11,209
down €11,209 (-40.3%), from €27,793 to €16,584
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 | €2,074,212 | €2,131,979 | +€57,766 | +2.8% |
| Fixed assets | 21/28 | €979,101 | €1,031,901 | +€52,801 | +5.4% |
| Tangible fixed assets | 22/27 | €961,887 | €1,014,687 | +€52,801 | +5.5% |
| Land and buildings | 22 | €235,880 | €244,511 | +€8,631 | +3.7% |
| Plant, machinery and equipment | 23 | €2,655 | €889 | -€1,766 | -66.5% |
| Furniture and vehicles | 24 | €106,658 | €152,593 | +€45,936 | +43.1% |
| Other tangible fixed assets | 26 | €616,694 | €616,694 | = | 0.0% |
| Financial fixed assets | 28 | €17,214 | €17,214 | = | 0.0% |
| Current assets | 29/58 | €1,095,112 | €1,100,077 | +€4,966 | +0.5% |
| Amounts receivable after more than one year | 29 | €432,275 | €374,835 | -€57,440 | -13.3% |
| Other amounts receivable | 291 | €432,275 | €374,835 | -€57,440 | -13.3% |
| Stocks and contracts in progress | 3 | €15,900 | €15,900 | = | 0.0% |
| Stocks | 30/36 | €15,900 | €15,900 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €219,273 | €189,267 | -€30,006 | -13.7% |
| Other amounts receivable | 41 | €219,273 | €189,267 | -€30,006 | -13.7% |
| Current investments | 50/53 | €81,679 | €81,679 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €290,706 | €433,226 | +€142,520 | +49.0% |
| Deferred charges and accrued income | 490/1 | €55,279 | €5,171 | -€50,108 | -90.6% |
| Total equity and liabilities | 10/49 | €2,074,212 | €2,131,979 | +€57,766 | +2.8% |
| Equity | 10/15 | €2,061,364 | €2,070,529 | +€9,165 | +0.4% |
| Contributions | 10/11 | €193,645 | €193,645 | = | 0.0% |
| Outside capital | 11 | €193,645 | €193,645 | = | 0.0% |
| Other | 1109/19 | €193,645 | €193,645 | = | 0.0% |
| Reserves | 13 | €1,334,896 | €1,344,061 | +€9,165 | +0.7% |
| Distributable reserves | 133 | €1,334,896 | €1,344,061 | +€9,165 | +0.7% |
| Profit (loss) carried forward | 14 | €532,823 | €532,823 | = | 0.0% |
| Amounts payable | 17/49 | €12,848 | €61,450 | +€48,601 | +378.3% |
| Amounts payable within one year | 42/48 | €12,848 | €61,450 | +€48,601 | +378.3% |
| Trade debts | 44 | €4,045 | €6,144 | +€2,100 | +51.9% |
| Suppliers | 440/4 | €4,045 | €6,144 | +€2,100 | +51.9% |
| Taxes, remuneration and social security | 45 | €8,804 | €55,305 | +€46,501 | +528.2% |
| Taxes | 450/3 | €8,804 | €55,305 | +€46,501 | +528.2% |
| Non-recurring operating income | 76A | €1,315 | €59 | -€1,256 | -95.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,360 | €25,441 | -€54,919 | -68.3% |
| Other operating charges | 640/8 | €5,429 | €5,610 | +€180 | +3.3% |
| Gross operating margin | 9900 | €257,531 | €375,954 | +€118,423 | +46.0% |
| Operating profit (loss) | 9901 | €171,742 | €344,904 | +€173,161 | +100.8% |
| Financial income | 75/76B | €27,793 | €16,584 | -€11,209 | -40.3% |
| Recurring financial income | 75 | €27,793 | €16,584 | -€11,209 | -40.3% |
| Financial charges | 65/66B | €136 | €318 | +€182 | +133.3% |
| Recurring financial charges | 65 | €136 | €318 | +€182 | +133.3% |
| Profit (loss) for the period before taxes | 9903 | €199,399 | €361,170 | +€161,771 | +81.1% |
| Income taxes | 67/77 | €62,036 | €115,504 | +€53,469 | +86.2% |
| Profit (loss) for the period | 9904 | €137,364 | €245,665 | +€108,302 | +78.8% |
| Profit (loss) for the period to be appropriated | 9905 | €137,364 | €245,665 | +€108,302 | +78.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.