Peter Mussche & Zonen: 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 Mussche & Zonen
Largest movements
- Receivables within one year +€204,368
up €204,368 (+21.8%), from €938,387 to €1.1m
of which Trade receivables: +€107,410
- Other debts +€224,079
up €224,079 (+102%), from €219,677 to €443,756
- Tax, wage and social debts -€21,409
down €21,409 (-87.6%), from €24,451 to €3,042
of which Taxes: -€20,562
- Trade debts +€14,818
up €14,818 (+9.3%), from €160,098 to €174,916
- Gross operating margin -€211,523
down €211,523 (-70.2%), from €301,302 to €89,779
- Staff costs -€90,946
down €90,946 (-52.4%), from €173,619 to €82,673
- Depreciation -€71,238
down €71,238 (-99.8%), from €71,398 to €160
- Taxes -€25,168
new in 2025: -€25,168
- Financial charges +€16,903
up €16,903 (+1,132%), from €1,493 to €18,396
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 | €963,251 | €1,171,381 | +€208,130 | +21.6% |
| Fixed assets | 21/28 | €24,656 | €24,496 | -€160 | -0.6% |
| Tangible fixed assets | 22/27 | €160 | - | -€160 | |
| Plant, machinery and equipment | 23 | €160 | - | -€160 | |
| Financial fixed assets | 28 | €24,496 | €24,496 | = | 0.0% |
| Current assets | 29/58 | €938,595 | €1,146,885 | +€208,290 | +22.2% |
| Amounts receivable within one year | 40/41 | €938,387 | €1,142,755 | +€204,368 | +21.8% |
| Trade receivables | 40 | €276,873 | €384,283 | +€107,410 | +38.8% |
| Other amounts receivable | 41 | €661,514 | €758,472 | +€96,958 | +14.7% |
| Cash at bank and in hand | 54/58 | €208 | €3,979 | +€3,771 | +1,813% |
| Deferred charges and accrued income | 490/1 | - | €151 | +€151 | |
| Total equity and liabilities | 10/49 | €963,251 | €1,171,381 | +€208,130 | +21.6% |
| Equity | 10/15 | €534,995 | €525,637 | -€9,358 | -1.7% |
| Contributions | 10/11 | €130,460 | €130,460 | = | 0.0% |
| Reserves | 13 | €225,463 | €225,463 | = | 0.0% |
| Tax-exempt reserves | 132 | €225,463 | €225,463 | = | 0.0% |
| Profit (loss) carried forward | 14 | €179,072 | €169,714 | -€9,358 | -5.2% |
| Provisions and deferred taxes | 16 | €24,030 | €24,030 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €24,030 | €24,030 | = | 0.0% |
| Other liabilities and charges | 164/5 | €24,030 | €24,030 | = | 0.0% |
| Amounts payable | 17/49 | €404,226 | €621,714 | +€217,488 | +53.8% |
| Amounts payable within one year | 42/48 | €404,226 | €621,714 | +€217,488 | +53.8% |
| Trade debts | 44 | €160,098 | €174,916 | +€14,818 | +9.3% |
| Suppliers | 440/4 | €160,098 | €174,916 | +€14,818 | +9.3% |
| Taxes, remuneration and social security | 45 | €24,451 | €3,042 | -€21,409 | -87.6% |
| Taxes | 450/3 | €22,154 | €1,592 | -€20,562 | -92.8% |
| Remuneration and social security | 454/9 | €2,297 | €1,450 | -€847 | -36.9% |
| Other amounts payable | 47/48 | €219,677 | €443,756 | +€224,079 | +102% |
| Remuneration, social security and pensions | 62 | €173,619 | €82,673 | -€90,946 | -52.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,398 | €160 | -€71,238 | -99.8% |
| Other operating charges | 640/8 | €33,016 | €23,076 | -€9,940 | -30.1% |
| Gross operating margin | 9900 | €301,302 | €89,779 | -€211,523 | -70.2% |
| Operating profit (loss) | 9901 | €23,269 | -€16,130 | -€39,399 | |
| Financial charges | 65/66B | €1,493 | €18,396 | +€16,903 | +1,132% |
| Recurring financial charges | 65 | €1,493 | €18,396 | +€16,903 | +1,132% |
| Profit (loss) for the period before taxes | 9903 | €21,776 | -€34,526 | -€56,302 | |
| Income taxes | 67/77 | - | -€25,168 | -€25,168 | |
| Profit (loss) for the period | 9904 | €21,776 | -€9,358 | -€31,134 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,776 | -€9,358 | -€31,134 |
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 27 October 2026 via checked.be.