Peter Meirsman: 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 Meirsman
Largest movements
- Cash +€16,988
up €16,988 (+67.3%), from €25,255 to €42,243
mainly Net result for the year (+€28,057) and Receivables within one year (+€2,735)
- Receivables within one year -€2,735
down €2,735 (-45.3%), from €6,032 to €3,298
of which Other amounts receivable: -€4,733
- Profit (loss) carried forward +€28,057
up €28,057, from €0 to €28,057
- Reserves -€12,459
down €12,459 (-54.1%), from €23,029 to €10,570
- Tax, wage and social debts -€2,437
down €2,437 (-32.8%), from €7,426 to €4,990
- Other debts +€1,103
new in 2025: €1,103
- Trade debts -€578
down €578 (-23.8%), from €2,431 to €1,853
- Gross operating margin +€20,852
up €20,852 (+88.8%), from €23,483 to €44,334
- Taxes +€4,918
up €4,918 (+75.5%), from €6,510 to €11,427
- Financial charges -€534
down €534 (-11.8%), from €4,507 to €3,973
- Financial income -€446
down €446 (-63.9%), from €699 to €253
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 | €35,900 | €49,579 | +€13,679 | +38.1% |
| Fixed assets | 21/28 | €1,080 | €701 | -€378 | -35.0% |
| Tangible fixed assets | 22/27 | €1,080 | €701 | -€378 | -35.0% |
| Furniture and vehicles | 24 | €1,080 | €701 | -€378 | -35.0% |
| Current assets | 29/58 | €34,820 | €48,877 | +€14,057 | +40.4% |
| Amounts receivable within one year | 40/41 | €6,032 | €3,298 | -€2,735 | -45.3% |
| Trade receivables | 40 | €942 | €2,941 | +€1,999 | +212% |
| Other amounts receivable | 41 | €5,090 | €357 | -€4,733 | -93.0% |
| Cash at bank and in hand | 54/58 | €25,255 | €42,243 | +€16,988 | +67.3% |
| Deferred charges and accrued income | 490/1 | €3,532 | €3,337 | -€196 | -5.5% |
| Total equity and liabilities | 10/49 | €35,900 | €49,579 | +€13,679 | +38.1% |
| Equity | 10/15 | €26,029 | €41,627 | +€15,597 | +59.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €23,029 | €10,570 | -€12,459 | -54.1% |
| Distributable reserves | 133 | €23,029 | €10,570 | -€12,459 | -54.1% |
| Profit (loss) carried forward | 14 | €0 | €28,057 | +€28,057 | |
| Amounts payable | 17/49 | €9,870 | €7,952 | -€1,918 | -19.4% |
| Amounts payable within one year | 42/48 | €9,857 | €7,945 | -€1,912 | -19.4% |
| Trade debts | 44 | €2,431 | €1,853 | -€578 | -23.8% |
| Suppliers | 440/4 | €2,431 | €1,853 | -€578 | -23.8% |
| Taxes, remuneration and social security | 45 | €7,426 | €4,990 | -€2,437 | -32.8% |
| Taxes | 450/3 | €7,426 | €4,990 | -€2,437 | -32.8% |
| Other amounts payable | 47/48 | - | €1,103 | +€1,103 | |
| Accrued charges and deferred income | 492/3 | €13 | €7 | -€6 | -45.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55 | €378 | +€323 | +589% |
| Other operating charges | 640/8 | €651 | €752 | +€101 | +15.5% |
| Gross operating margin | 9900 | €23,483 | €44,334 | +€20,852 | +88.8% |
| Operating profit (loss) | 9901 | €22,777 | €43,205 | +€20,428 | +89.7% |
| Financial income | 75/76B | €699 | €253 | -€446 | -63.9% |
| Recurring financial income | 75 | €699 | €253 | -€446 | -63.9% |
| Financial charges | 65/66B | €4,507 | €3,973 | -€534 | -11.8% |
| Recurring financial charges | 65 | €4,507 | €3,973 | -€534 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €18,969 | €39,484 | +€20,515 | +108% |
| Income taxes | 67/77 | €6,510 | €11,427 | +€4,918 | +75.5% |
| Profit (loss) for the period | 9904 | €12,459 | €28,057 | +€15,597 | +125% |
| Profit (loss) for the period to be appropriated | 9905 | €12,459 | €28,057 | +€15,597 | +125% |
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 22 October 2026 via checked.be.