Peter Tytgat: 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 Tytgat
Largest movements
- Tangible fixed assets -€8,134
down €8,134 (-39.0%), from €20,840 to €12,705
of which Furniture and vehicles: -€6,834
- Receivables within one year +€7,351
up €7,351 (+50.9%), from €14,454 to €21,805
of which Trade receivables: +€8,138
- Cash +€6,900
up €6,900 (+91.9%), from €7,510 to €14,410
mainly Net result for the year (+€17,160) and Depreciation (+€10,134)
- Intangible fixed assets -€2,000
down €2,000 (-10.8%), from €18,488 to €16,488
- Other debts -€20,522
down €20,522 (-48.3%), from €42,456 to €21,934
- Reserves +€16,327
up €16,327 (+131%), from €12,449 to €28,776
- Trade debts +€7,102
up €7,102 (+290%), from €2,451 to €9,553
- Tax, wage and social debts +€812
up €812 (+18.6%), from €4,368 to €5,180
- Gross operating margin +€7,268
up €7,268 (+28.7%), from €25,349 to €32,617
- Depreciation +€2,459
up €2,459 (+32.0%), from €7,676 to €10,134
- Taxes +€1,245
up €1,245 (+35.9%), from €3,468 to €4,714
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 | €62,724 | €66,443 | +€3,719 | +5.9% |
| Fixed assets | 21/28 | €39,327 | €29,193 | -€10,134 | -25.8% |
| Intangible fixed assets | 21 | €18,488 | €16,488 | -€2,000 | -10.8% |
| Tangible fixed assets | 22/27 | €20,840 | €12,705 | -€8,134 | -39.0% |
| Furniture and vehicles | 24 | €15,323 | €8,488 | -€6,834 | -44.6% |
| Other tangible fixed assets | 26 | €5,517 | €4,217 | -€1,300 | -23.6% |
| Current assets | 29/58 | €23,397 | €37,250 | +€13,853 | +59.2% |
| Amounts receivable within one year | 40/41 | €14,454 | €21,805 | +€7,351 | +50.9% |
| Trade receivables | 40 | €11,885 | €20,022 | +€8,138 | +68.5% |
| Other amounts receivable | 41 | €2,569 | €1,783 | -€786 | -30.6% |
| Cash at bank and in hand | 54/58 | €7,510 | €14,410 | +€6,900 | +91.9% |
| Deferred charges and accrued income | 490/1 | €1,433 | €1,035 | -€398 | -27.8% |
| Total equity and liabilities | 10/49 | €62,724 | €66,443 | +€3,719 | +5.9% |
| Equity | 10/15 | €13,449 | €29,776 | +€16,327 | +121% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €12,449 | €28,776 | +€16,327 | +131% |
| Distributable reserves | 133 | €12,449 | €28,776 | +€16,327 | +131% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €49,275 | €36,666 | -€12,608 | -25.6% |
| Amounts payable within one year | 42/48 | €49,275 | €36,666 | -€12,608 | -25.6% |
| Trade debts | 44 | €2,451 | €9,553 | +€7,102 | +290% |
| Suppliers | 440/4 | €2,451 | €9,553 | +€7,102 | +290% |
| Taxes, remuneration and social security | 45 | €4,368 | €5,180 | +€812 | +18.6% |
| Taxes | 450/3 | €4,368 | €5,180 | +€812 | +18.6% |
| Other amounts payable | 47/48 | €42,456 | €21,934 | -€20,522 | -48.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,676 | €10,134 | +€2,459 | +32.0% |
| Other operating charges | 640/8 | €887 | €831 | -€56 | -6.3% |
| Gross operating margin | 9900 | €25,349 | €32,617 | +€7,268 | +28.7% |
| Operating profit (loss) | 9901 | €16,786 | €21,651 | +€4,865 | +29.0% |
| Financial income | 75/76B | €390 | €300 | -€90 | -23.1% |
| Recurring financial income | 75 | €390 | €300 | -€90 | -23.1% |
| Financial charges | 65/66B | €399 | €78 | -€322 | -80.5% |
| Recurring financial charges | 65 | €399 | €78 | -€322 | -80.5% |
| Profit (loss) for the period before taxes | 9903 | €16,777 | €21,874 | +€5,097 | +30.4% |
| Income taxes | 67/77 | €3,468 | €4,714 | +€1,245 | +35.9% |
| Profit (loss) for the period | 9904 | €13,308 | €17,160 | +€3,852 | +28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €13,308 | €17,160 | +€3,852 | +28.9% |
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 18 October 2026 via checked.be.