Peter SILLEN: 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 SILLEN
Largest movements
- Tangible fixed assets -€41,676
down €41,676 (-10.5%), from €398,500 to €356,824
of which Land and buildings: -€23,098
- Cash +€32,432
up €32,432 (+13.2%), from €245,366 to €277,798
mainly Net result for the year (+€56,595) and Accrued charges and deferred income (+€53,045)
- Accrued charges and deferred income +€53,045
up €53,045 (+123%), from €43,137 to €96,182
- Reserves -€39,583
down €39,583 (-8.1%), from €486,234 to €446,651
of which Distributable reserves: -€39,583
- Debts after one year -€24,241
down €24,241 (-38.4%), from €63,071 to €38,830
- Depreciation +€8,138
up €8,138 (+24.3%), from €33,538 to €41,676
- Taxes -€1,636
down €1,636 (-6.5%), from €25,164 to €23,528
- Financial income +€1,367
up €1,367 (+41.9%), from €3,259 to €4,626
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 | €667,058 | €654,267 | -€12,791 | -1.9% |
| Fixed assets | 21/28 | €398,500 | €356,824 | -€41,676 | -10.5% |
| Tangible fixed assets | 22/27 | €398,500 | €356,824 | -€41,676 | -10.5% |
| Land and buildings | 22 | €349,133 | €326,035 | -€23,098 | -6.6% |
| Plant, machinery and equipment | 23 | €1,684 | €903 | -€781 | -46.4% |
| Furniture and vehicles | 24 | €17,208 | €10,458 | -€6,750 | -39.2% |
| Leasing and similar rights | 25 | €30,476 | €19,428 | -€11,047 | -36.2% |
| Current assets | 29/58 | €268,558 | €297,442 | +€28,885 | +10.8% |
| Amounts receivable within one year | 40/41 | €19,439 | €19,644 | +€205 | +1.1% |
| Trade receivables | 40 | €19,217 | €18,257 | -€961 | -5.0% |
| Other amounts receivable | 41 | €222 | €1,388 | +€1,166 | +526% |
| Cash at bank and in hand | 54/58 | €245,366 | €277,798 | +€32,432 | +13.2% |
| Deferred charges and accrued income | 490/1 | €3,753 | - | -€3,753 | |
| Total equity and liabilities | 10/49 | €667,058 | €654,267 | -€12,791 | -1.9% |
| Equity | 10/15 | €523,334 | €483,751 | -€39,583 | -7.6% |
| Contributions | 10/11 | €37,100 | €37,100 | = | 0.0% |
| Reserves | 13 | €486,234 | €446,651 | -€39,583 | -8.1% |
| Non-distributable reserves | 130/1 | €3,710 | €3,710 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,710 | €3,710 | = | 0.0% |
| Distributable reserves | 133 | €482,524 | €442,941 | -€39,583 | -8.2% |
| Amounts payable | 17/49 | €143,724 | €170,516 | +€26,792 | +18.6% |
| Amounts payable after more than one year | 17 | €63,071 | €38,830 | -€24,241 | -38.4% |
| Financial debts | 170/4 | €63,071 | €38,830 | -€24,241 | -38.4% |
| Amounts payable within one year | 42/48 | €37,516 | €35,504 | -€2,012 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €24,337 | €23,523 | -€814 | -3.3% |
| Trade debts | 44 | - | €226 | +€226 | |
| Suppliers | 440/4 | - | €226 | +€226 | |
| Taxes, remuneration and social security | 45 | €13,179 | €11,755 | -€1,424 | -10.8% |
| Taxes | 450/3 | €13,179 | €11,755 | -€1,424 | -10.8% |
| Accrued charges and deferred income | 492/3 | €43,137 | €96,182 | +€53,045 | +123% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,538 | €41,676 | +€8,138 | +24.3% |
| Other operating charges | 640/8 | €2,517 | €2,356 | -€161 | -6.4% |
| Gross operating margin | 9900 | €122,567 | €122,360 | -€207 | -0.2% |
| Operating profit (loss) | 9901 | €86,512 | €78,328 | -€8,184 | -9.5% |
| Financial income | 75/76B | €3,259 | €4,626 | +€1,367 | +41.9% |
| Recurring financial income | 75 | €3,259 | €4,626 | +€1,367 | +41.9% |
| Financial charges | 65/66B | €2,347 | €2,831 | +€483 | +20.6% |
| Recurring financial charges | 65 | €2,347 | €2,831 | +€483 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | €87,424 | €80,123 | -€7,301 | -8.4% |
| Income taxes | 67/77 | €25,164 | €23,528 | -€1,636 | -6.5% |
| Profit (loss) for the period | 9904 | €62,260 | €56,595 | -€5,664 | -9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €62,260 | €56,595 | -€5,664 | -9.1% |
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 15 October 2026 via checked.be.