PETER PANHUYSEN: what changed
PETER PANHUYSEN
Largest movements
- Cash -€54,056
down €54,056 (-76.2%), from €70,916 to €16,859
mainly Debts after one year (-€75,049) and Current investments (-€50,000)
- Current investments +€50,000
up €50,000 (+200%), from €25,000 to €75,000
- Tangible fixed assets -€18,837
down €18,837 (-23.1%), from €81,413 to €62,576
of which Furniture and vehicles: -€15,626
- Receivables within one year -€4,476
down €4,476 (-14.9%), from €30,038 to €25,562
of which Other amounts receivable: -€4,711
- Debts after one year -€75,049
no longer reported in 2025 (was €75,049)
- Other debts +€37,729
up €37,729 (+280%), from €13,465 to €51,194
- Reserves +€21,600
up €21,600 (+25.9%), from €83,460 to €105,060
of which Distributable reserves: +€21,600
- Current portion of long-term debt -€7,450
down €7,450 (-91.6%), from €8,131 to €681
- Trade debts -€2,245
down €2,245 (-37.9%), from €5,922 to €3,677
- Gross operating margin +€15,249
up €15,249 (+36.3%), from €42,060 to €57,308
- Taxes +€4,274
up €4,274 (+86.1%), from €4,964 to €9,238
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €207,617 | €180,247 | -€27,369 | -13.2% |
| Fixed assets | 21/28 | €81,663 | €62,826 | -€18,837 | -23.1% |
| Tangible fixed assets | 22/27 | €81,413 | €62,576 | -€18,837 | -23.1% |
| Land and buildings | 22 | €63,716 | €60,505 | -€3,211 | -5.0% |
| Furniture and vehicles | 24 | €17,697 | €2,071 | -€15,626 | -88.3% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €125,954 | €117,421 | -€8,532 | -6.8% |
| Amounts receivable within one year | 40/41 | €30,038 | €25,562 | -€4,476 | -14.9% |
| Trade receivables | 40 | €24,408 | €24,643 | +€235 | +1.0% |
| Other amounts receivable | 41 | €5,630 | €919 | -€4,711 | -83.7% |
| Current investments | 50/53 | €25,000 | €75,000 | +€50,000 | +200% |
| Cash at bank and in hand | 54/58 | €70,916 | €16,859 | -€54,056 | -76.2% |
| Total equity and liabilities | 10/49 | €207,617 | €180,247 | -€27,369 | -13.2% |
| Equity | 10/15 | €91,228 | €112,873 | +€21,645 | +23.7% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €83,460 | €105,060 | +€21,600 | +25.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €81,600 | €103,200 | +€21,600 | +26.5% |
| Profit (loss) carried forward | 14 | €1,562 | €1,607 | +€45 | +2.9% |
| Amounts payable | 17/49 | €116,389 | €67,375 | -€49,014 | -42.1% |
| Amounts payable after more than one year | 17 | €75,049 | - | -€75,049 | |
| Financial debts | 170/4 | €75,049 | - | -€75,049 | |
| Amounts payable within one year | 42/48 | €39,295 | €67,029 | +€27,734 | +70.6% |
| Current portion of amounts payable after more than one year | 42 | €8,131 | €681 | -€7,450 | -91.6% |
| Financial debts | 43 | €5,899 | €5,884 | -€15 | -0.3% |
| Credit institutions | 430/8 | €5,899 | €5,884 | -€15 | -0.3% |
| Trade debts | 44 | €5,922 | €3,677 | -€2,245 | -37.9% |
| Suppliers | 440/4 | €5,922 | €3,677 | -€2,245 | -37.9% |
| Taxes, remuneration and social security | 45 | €5,879 | €5,594 | -€285 | -4.8% |
| Taxes | 450/3 | €5,879 | €5,594 | -€285 | -4.8% |
| Other amounts payable | 47/48 | €13,465 | €51,194 | +€37,729 | +280% |
| Accrued charges and deferred income | 492/3 | €2,045 | €346 | -€1,700 | -83.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,742 | €18,837 | +€95 | +0.5% |
| Other operating charges | 640/8 | €3,257 | €3,729 | +€473 | +14.5% |
| Gross operating margin | 9900 | €42,060 | €57,308 | +€15,249 | +36.3% |
| Operating profit (loss) | 9901 | €20,061 | €34,742 | +€14,681 | +73.2% |
| Financial income | 75/76B | €7 | €513 | +€506 | +7,152% |
| Recurring financial income | 75 | €7 | €513 | +€506 | +7,152% |
| Financial charges | 65/66B | €4,566 | €4,372 | -€194 | -4.3% |
| Recurring financial charges | 65 | €4,566 | €4,372 | -€194 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €15,502 | €30,883 | +€15,381 | +99.2% |
| Income taxes | 67/77 | €4,964 | €9,238 | +€4,274 | +86.1% |
| Profit (loss) for the period | 9904 | €10,538 | €21,645 | +€11,107 | +105% |
| Profit (loss) for the period to be appropriated | 9905 | €10,538 | €21,645 | +€11,107 | +105% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.