PETER MAENE CONSULT: 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 MAENE CONSULT
Largest movements
- Cash +€61,804
up €61,804 (+74.7%), from €82,772 to €144,575
mainly Net result for the year (+€93,661) and Tax, wage and social debts (+€8,367)
- Current investments +€26,823
up €26,823 (+15.0%), from €179,079 to €205,902
- Tangible fixed assets +€9,243
up €9,243 (+149%), from €6,203 to €15,445
- Reserves +€82,661
up €82,661 (+32.7%), from €252,489 to €335,150
- Tax, wage and social debts +€8,367
up €8,367 (+151%), from €5,559 to €13,926
- Financial income +€50,940
up €50,940 (+1,687%), from €3,019 to €53,959
- Gross operating margin +€21,598
up €21,598 (+42.5%), from €50,838 to €72,436
- Taxes +€11,094
up €11,094 (+80.8%), from €13,736 to €24,830
- Depreciation +€4,900
up €4,900 (+353%), from €1,390 to €6,289
- Financial charges -€814
down €814 (-83.2%), from €979 to €165
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 | €275,236 | €367,903 | +€92,667 | +33.7% |
| Fixed assets | 21/28 | €8,063 | €15,445 | +€7,383 | +91.6% |
| Tangible fixed assets | 22/27 | €6,203 | €15,445 | +€9,243 | +149% |
| Furniture and vehicles | 24 | €6,203 | €15,445 | +€9,243 | +149% |
| Financial fixed assets | 28 | €1,860 | - | -€1,860 | |
| Current assets | 29/58 | €267,173 | €352,457 | +€85,284 | +31.9% |
| Amounts receivable within one year | 40/41 | €2,266 | - | -€2,266 | |
| Other amounts receivable | 41 | €2,266 | - | -€2,266 | |
| Current investments | 50/53 | €179,079 | €205,902 | +€26,823 | +15.0% |
| Cash at bank and in hand | 54/58 | €82,772 | €144,575 | +€61,804 | +74.7% |
| Deferred charges and accrued income | 490/1 | €3,056 | €1,980 | -€1,076 | -35.2% |
| Total equity and liabilities | 10/49 | €275,236 | €367,903 | +€92,667 | +33.7% |
| Equity | 10/15 | €261,805 | €344,466 | +€82,661 | +31.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €252,489 | €335,150 | +€82,661 | +32.7% |
| Distributable reserves | 133 | €252,489 | €335,150 | +€82,661 | +32.7% |
| Profit (loss) carried forward | 14 | €3,116 | €3,116 | = | 0.0% |
| Amounts payable | 17/49 | €13,431 | €23,437 | +€10,006 | +74.5% |
| Amounts payable within one year | 42/48 | €13,431 | €23,437 | +€10,006 | +74.5% |
| Trade debts | 44 | €3,567 | €2,151 | -€1,417 | -39.7% |
| Suppliers | 440/4 | €3,567 | €2,151 | -€1,417 | -39.7% |
| Taxes, remuneration and social security | 45 | €5,559 | €13,926 | +€8,367 | +151% |
| Taxes | 450/3 | €5,559 | €13,926 | +€8,367 | +151% |
| Other amounts payable | 47/48 | €4,305 | €7,361 | +€3,055 | +71.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,390 | €6,289 | +€4,900 | +353% |
| Other operating charges | 640/8 | €1,334 | €1,451 | +€117 | +8.7% |
| Non-recurring operating charges | 66A | €1,058 | - | -€1,058 | |
| Gross operating margin | 9900 | €50,838 | €72,436 | +€21,598 | +42.5% |
| Operating profit (loss) | 9901 | €47,056 | €64,697 | +€17,640 | +37.5% |
| Financial income | 75/76B | €3,019 | €53,959 | +€50,940 | +1,687% |
| Recurring financial income | 75 | €3,019 | €53,959 | +€50,940 | +1,687% |
| Financial charges | 65/66B | €979 | €165 | -€814 | -83.2% |
| Recurring financial charges | 65 | €979 | €165 | -€814 | -83.2% |
| Profit (loss) for the period before taxes | 9903 | €49,096 | €118,491 | +€69,395 | +141% |
| Income taxes | 67/77 | €13,736 | €24,830 | +€11,094 | +80.8% |
| Profit (loss) for the period | 9904 | €35,360 | €93,661 | +€58,301 | +165% |
| Profit (loss) for the period to be appropriated | 9905 | €35,360 | €93,661 | +€58,301 | +165% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.