Peter Steylaerts: 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 Steylaerts
Largest movements
- Receivables within one year -€83,904
down €83,904 (-49.1%), from €171,001 to €87,097
of which Trade receivables: -€49,694
- Tangible fixed assets +€65,119
up €65,119 (+22.0%), from €295,459 to €360,579
of which Land and buildings: +€90,540
- Cash -€10,083
down €10,083 (-18.6%), from €54,232 to €44,149
mainly Investment in fixed assets (net) (-€161,547) and Debts after one year (-€133,249)
- Other debts +€211,697
new in 2025: €211,697
- Debts after one year -€133,249
no longer reported in 2025 (was €133,249)
- Current portion of long-term debt -€100,054
down €100,054 (-86.0%), from €116,277 to €16,223
- Trade debts -€6,555
down €6,555 (-59.9%), from €10,944 to €4,389
- Depreciation -€59,533
down €59,533 (-38.2%), from €155,961 to €96,428
- Gross operating margin -€45,697
down €45,697 (-26.3%), from €173,437 to €127,740
- Financial charges +€6,391
up €6,391 (+55.6%), from €11,496 to €17,887
- Other operating charges +€4,918
up €4,918 (+167.2%), from €2,942 to €7,860
- Financial income -€2,344
down €2,344 (-100.0%), from €2,345 to €1
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.
Cash bridge derived
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 | €523,673 | €494,703 | -€28,970 | -5.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €295,459 | €360,579 | +€65,119 | +22.0% |
| Tangible fixed assets | 22/27 | €295,459 | €360,579 | +€65,119 | +22.0% |
| Land and buildings | 22 | €217,237 | €307,777 | +€90,540 | +41.7% |
| Furniture and vehicles | 24 | €66,652 | €52,802 | -€13,850 | -20.8% |
| Other tangible fixed assets | 26 | €11,570 | - | -€11,570 | |
| Current assets | 29/58 | €228,214 | €134,125 | -€94,089 | -41.2% |
| Amounts receivable within one year | 40/41 | €171,001 | €87,097 | -€83,904 | -49.1% |
| Trade receivables | 40 | €129,069 | €79,375 | -€49,694 | -38.5% |
| Other amounts receivable | 41 | €41,931 | €7,722 | -€34,210 | -81.6% |
| Cash at bank and in hand | 54/58 | €54,232 | €44,149 | -€10,083 | -18.6% |
| Deferred charges and accrued income | 490/1 | €2,981 | €2,879 | -€102 | -3.4% |
| Total equity and liabilities | 10/49 | €523,673 | €494,703 | -€28,970 | -5.5% |
| Equity | 10/15 | €165,810 | €169,098 | +€3,288 | +2.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €1,945 | €1,945 | = | 0.0% |
| Distributable reserves | 133 | €1,945 | €1,945 | = | 0.0% |
| Profit (loss) carried forward | 14 | €113,865 | €117,153 | +€3,288 | +2.9% |
| Provisions and deferred taxes | 16 | €92,176 | €92,176 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €92,176 | €92,176 | = | 0.0% |
| Pensions and similar obligations | 160 | €92,176 | €92,176 | = | 0.0% |
| Amounts payable | 17/49 | €265,687 | €233,429 | -€32,258 | -12.1% |
| Amounts payable after more than one year | 17 | €133,249 | - | -€133,249 | |
| Financial debts | 170/4 | €133,249 | - | -€133,249 | |
| Amounts payable within one year | 42/48 | €132,437 | €233,429 | +€100,991 | +76.3% |
| Current portion of amounts payable after more than one year | 42 | €116,277 | €16,223 | -€100,054 | -86.0% |
| Trade debts | 44 | €10,944 | €4,389 | -€6,555 | -59.9% |
| Suppliers | 440/4 | €10,944 | €4,389 | -€6,555 | -59.9% |
| Taxes, remuneration and social security | 45 | €5,217 | €1,120 | -€4,097 | -78.5% |
| Taxes | 450/3 | €5,217 | €1,120 | -€4,097 | -78.5% |
| Other amounts payable | 47/48 | - | €211,697 | +€211,697 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €155,961 | €96,428 | -€59,533 | -38.2% |
| Other operating charges | 640/8 | €2,942 | €7,860 | +€4,918 | +167.2% |
| Gross operating margin | 9900 | €173,437 | €127,740 | -€45,697 | -26.3% |
| Operating profit (loss) | 9901 | €14,534 | €23,452 | +€8,918 | +61.4% |
| Financial income | 75/76B | €2,345 | €1 | -€2,344 | -100.0% |
| Recurring financial income | 75 | €2,345 | €1 | -€2,344 | -100.0% |
| Financial charges | 65/66B | €11,496 | €17,887 | +€6,391 | +55.6% |
| Recurring financial charges | 65 | €11,496 | €17,887 | +€6,391 | +55.6% |
| Profit (loss) for the period before taxes | 9903 | €5,383 | €5,566 | +€184 | +3.4% |
| Income taxes | 67/77 | €2,853 | €2,278 | -€575 | -20.1% |
| Profit (loss) for the period | 9904 | €2,530 | €3,288 | +€758 | +30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,530 | €3,288 | +€758 | +30.0% |
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 9 October 2026 via checked.be.