PETER LENAERTS: 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 LENAERTS
Largest movements
- Cash +€30,758
up €30,758 (+53.4%), from €57,623 to €88,381
mainly Net result for the year (+€17,406) and Receivables after one year (+€16,150)
- Receivables after one year -€16,150
down €16,150 (-63.8%), from €25,300 to €9,150
- Tangible fixed assets -€7,789
down €7,789 (-26.2%), from €29,740 to €21,951
of which Furniture and vehicles: -€6,164
- Tax, wage and social debts +€2,565
up €2,565 (+173%), from €1,479 to €4,044
- Trade debts +€2,322
new in 2025: €2,322
- Current portion of long-term debt +€2,025
new in 2025: €2,025
- Gross operating margin +€10,573
up €10,573 (+49.0%), from €21,567 to €32,140
- Financial income -€7,122
down €7,122 (-91.9%), from €7,750 to €628
of which Non-recurring financial income: -€6,777
- Taxes +€1,026
up €1,026 (+18.3%), from €5,611 to €6,637
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 | €127,695 | €134,721 | +€7,027 | +5.5% |
| Fixed assets | 21/28 | €29,740 | €21,951 | -€7,789 | -26.2% |
| Tangible fixed assets | 22/27 | €29,740 | €21,951 | -€7,789 | -26.2% |
| Plant, machinery and equipment | 23 | €2,195 | €1,614 | -€580 | -26.4% |
| Furniture and vehicles | 24 | €23,181 | €17,017 | -€6,164 | -26.6% |
| Other tangible fixed assets | 26 | €4,365 | €3,320 | -€1,044 | -23.9% |
| Current assets | 29/58 | €97,955 | €112,770 | +€14,815 | +15.1% |
| Amounts receivable after more than one year | 29 | €25,300 | €9,150 | -€16,150 | -63.8% |
| Other amounts receivable | 291 | €25,300 | €9,150 | -€16,150 | -63.8% |
| Stocks and contracts in progress | 3 | €1,893 | €1,893 | = | 0.0% |
| Stocks | 30/36 | €1,893 | €1,893 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €12,377 | €13,346 | +€969 | +7.8% |
| Trade receivables | 40 | €1,088 | - | -€1,088 | |
| Other amounts receivable | 41 | €11,289 | €13,346 | +€2,057 | +18.2% |
| Cash at bank and in hand | 54/58 | €57,623 | €88,381 | +€30,758 | +53.4% |
| Deferred charges and accrued income | 490/1 | €762 | - | -€762 | |
| Total equity and liabilities | 10/49 | €127,695 | €134,721 | +€7,027 | +5.5% |
| Equity | 10/15 | €125,880 | €126,286 | +€406 | +0.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €119,680 | €120,086 | +€406 | +0.3% |
| Distributable reserves | 133 | €119,680 | €120,086 | +€406 | +0.3% |
| Amounts payable | 17/49 | €1,814 | €8,435 | +€6,621 | +365% |
| Amounts payable within one year | 42/48 | €1,814 | €8,435 | +€6,621 | +365% |
| Current portion of amounts payable after more than one year | 42 | - | €2,025 | +€2,025 | |
| Trade debts | 44 | - | €2,322 | +€2,322 | |
| Suppliers | 440/4 | - | €2,322 | +€2,322 | |
| Taxes, remuneration and social security | 45 | €1,479 | €4,044 | +€2,565 | +173% |
| Taxes | 450/3 | €1,479 | €4,044 | +€2,565 | +173% |
| Other amounts payable | 47/48 | €335 | €44 | -€292 | -86.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,840 | €7,789 | -€52 | -0.7% |
| Other operating charges | 640/8 | €818 | €788 | -€30 | -3.7% |
| Gross operating margin | 9900 | €21,567 | €32,140 | +€10,573 | +49.0% |
| Operating profit (loss) | 9901 | €12,909 | €23,564 | +€10,654 | +82.5% |
| Financial income | 75/76B | €7,750 | €628 | -€7,122 | -91.9% |
| Recurring financial income | 75 | €973 | €628 | -€345 | -35.5% |
| Non-recurring financial income | 76B | €6,777 | - | -€6,777 | |
| Financial charges | 65/66B | €250 | €148 | -€101 | -40.6% |
| Recurring financial charges | 65 | €250 | €148 | -€101 | -40.6% |
| Profit (loss) for the period before taxes | 9903 | €20,409 | €24,043 | +€3,634 | +17.8% |
| Income taxes | 67/77 | €5,611 | €6,637 | +€1,026 | +18.3% |
| Profit (loss) for the period | 9904 | €14,799 | €17,406 | +€2,607 | +17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,799 | €17,406 | +€2,607 | +17.6% |
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 20 October 2026 via checked.be.