PETER TAELMAN: 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 TAELMAN
Largest movements
- Cash -€47,479
down €47,479 (-62.7%), from €75,718 to €28,239
mainly Investment in fixed assets (net) (-€28,367) and Net result for the year (-€25,475)
- Profit (loss) carried forward -€25,475
down €25,475 (-94.8%), from -€26,869 to -€52,344
- Debts after one year -€25,377
down €25,377 (-30.1%), from €84,368 to €58,991
- Gross operating margin -€15,770
down €15,770 (-48.6%), from €32,462 to €16,692
- Other operating charges -€7,052
down €7,052 (-61.9%), from €11,396 to €4,344
- Financial charges -€901
down €901 (-11.7%), from €7,690 to €6,790
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 | €686,891 | €633,522 | -€53,369 | -7.8% |
| Fixed assets | 21/28 | €454,304 | €451,638 | -€2,667 | -0.6% |
| Tangible fixed assets | 22/27 | €454,304 | €451,638 | -€2,667 | -0.6% |
| Land and buildings | 22 | €450,803 | €448,404 | -€2,399 | -0.5% |
| Plant, machinery and equipment | 23 | €2,135 | €2,310 | +€175 | +8.2% |
| Furniture and vehicles | 24 | €1,366 | €923 | -€443 | -32.4% |
| Current assets | 29/58 | €232,587 | €181,885 | -€50,702 | -21.8% |
| Stocks and contracts in progress | 3 | €150,478 | €150,478 | = | 0.0% |
| Stocks | 30/36 | €150,478 | €150,478 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,500 | €0 | -€2,500 | -100.0% |
| Other amounts receivable | 41 | €2,500 | €0 | -€2,500 | -100.0% |
| Cash at bank and in hand | 54/58 | €75,718 | €28,239 | -€47,479 | -62.7% |
| Deferred charges and accrued income | 490/1 | €3,891 | €3,168 | -€723 | -18.6% |
| Total equity and liabilities | 10/49 | €686,891 | €633,522 | -€53,369 | -7.8% |
| Equity | 10/15 | €181,128 | €155,652 | -€25,475 | -14.1% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Revaluation surpluses | 12 | €2,600 | €2,600 | = | 0.0% |
| Reserves | 13 | €80,397 | €80,397 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,449 | €4,449 | = | 0.0% |
| Legal reserve | 130 | €4,449 | €4,449 | = | 0.0% |
| Distributable reserves | 133 | €75,947 | €75,947 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,869 | -€52,344 | -€25,475 | -94.8% |
| Amounts payable | 17/49 | €505,764 | €477,870 | -€27,894 | -5.5% |
| Amounts payable after more than one year | 17 | €84,368 | €58,991 | -€25,377 | -30.1% |
| Financial debts | 170/4 | €84,368 | €58,991 | -€25,377 | -30.1% |
| Amounts payable within one year | 42/48 | €421,396 | €418,879 | -€2,516 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €27,245 | €25,377 | -€1,868 | -6.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €939 | €3,118 | +€2,180 | +232.2% |
| Suppliers | 440/4 | €939 | €3,118 | +€2,180 | +232.2% |
| Taxes, remuneration and social security | 45 | €6,245 | €10,243 | +€3,998 | +64.0% |
| Taxes | 450/3 | €6,245 | €10,243 | +€3,998 | +64.0% |
| Other amounts payable | 47/48 | €386,967 | €380,140 | -€6,826 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,213 | €31,034 | -€179 | -0.6% |
| Other operating charges | 640/8 | €11,396 | €4,344 | -€7,052 | -61.9% |
| Gross operating margin | 9900 | €32,462 | €16,692 | -€15,770 | -48.6% |
| Operating profit (loss) | 9901 | -€10,146 | -€18,685 | -€8,539 | -84.2% |
| Financial charges | 65/66B | €7,690 | €6,790 | -€901 | -11.7% |
| Recurring financial charges | 65 | €7,690 | €6,790 | -€901 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | -€17,837 | -€25,475 | -€7,638 | -42.8% |
| Profit (loss) for the period | 9904 | -€17,837 | -€25,475 | -€7,638 | -42.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,837 | -€25,475 | -€7,638 | -42.8% |
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 10 October 2026 via checked.be.