Peter Van Assche: what changed
Two fiscal 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 Van Assche
Largest movements
- Receivables after one year -€1.3m
down €1.3m (-86.7%), from €1.5m to €198,404
- Receivables within one year +€156,801
up €156,801 (+3271.1%), from €4,793 to €161,594
of which Other amounts receivable: +€85,883
- Tangible fixed assets +€51,814
up €51,814 (+13.6%), from €381,733 to €433,547
of which Land and buildings: +€190,414
- Short-term financial debts -€478,000
down €478,000 (-100.0%), from €478,000 to €0
- Debts after one year -€375,465
down €375,465 (-65.9%), from €570,113 to €194,648
of which Financial debts: -€375,415
- Other debts -€119,815
down €119,815 (-100.0%), from €119,815 to €0
- Current portion of long-term debt -€94,274
down €94,274 (-85.7%), from €110,063 to €15,789
- Reserves +€49,666
up €49,666 (+9.6%), from €515,756 to €565,422
of which Distributable reserves: +€49,666
- Financial income -€30,033
down €30,033 (-99.4%), from €30,207 to €174
- Financial charges -€17,907
down €17,907 (-32.0%), from €55,980 to €38,073
- Taxes -€8,212
down €8,212 (-29.5%), from €27,792 to €19,579
- Gross operating margin -€6,775
down €6,775 (-5.0%), from €135,737 to €128,963
- Other operating charges +€4,181
up €4,181 (+247.4%), from €1,690 to €5,871
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 | €2,011,852 | €922,310 | -€1.1m | -54.2% |
| Fixed assets | 21/28 | €382,965 | €434,779 | +€51,814 | +13.5% |
| Tangible fixed assets | 22/27 | €381,733 | €433,547 | +€51,814 | +13.6% |
| Land and buildings | 22 | €235,989 | €426,403 | +€190,414 | +80.7% |
| Plant, machinery and equipment | 23 | - | €2,365 | +€2,365 | |
| Furniture and vehicles | 24 | €1,844 | €0 | -€1,844 | -100.0% |
| Other tangible fixed assets | 26 | €7,169 | €4,779 | -€2,390 | -33.3% |
| Assets under construction and advance payments | 27 | €136,731 | €0 | -€136,731 | -100.0% |
| Financial fixed assets | 28 | €1,232 | €1,232 | = | 0.0% |
| Current assets | 29/58 | €1,628,888 | €487,531 | -€1.1m | -70.1% |
| Amounts receivable after more than one year | 29 | €1,493,067 | €198,404 | -€1.3m | -86.7% |
| Other amounts receivable | 291 | €1,493,067 | €198,404 | -€1.3m | -86.7% |
| Amounts receivable within one year | 40/41 | €4,793 | €161,594 | +€156,801 | +3271.1% |
| Trade receivables | 40 | €4,570 | €75,488 | +€70,918 | +1551.9% |
| Other amounts receivable | 41 | €224 | €86,107 | +€85,883 | +38364.5% |
| Cash at bank and in hand | 54/58 | €79,944 | €76,413 | -€3,531 | -4.4% |
| Deferred charges and accrued income | 490/1 | €51,083 | €51,119 | +€37 | +0.1% |
| Total equity and liabilities | 10/49 | €2,011,852 | €922,310 | -€1.1m | -54.2% |
| Equity | 10/15 | €621,198 | €670,864 | +€49,666 | +8.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €515,756 | €565,422 | +€49,666 | +9.6% |
| 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 | €513,896 | €563,562 | +€49,666 | +9.7% |
| Profit (loss) carried forward | 14 | €86,842 | €86,842 | = | 0.0% |
| Amounts payable | 17/49 | €1,390,654 | €251,446 | -€1.1m | -81.9% |
| Amounts payable after more than one year | 17 | €570,113 | €194,648 | -€375,465 | -65.9% |
| Financial debts | 170/4 | €568,813 | €193,398 | -€375,415 | -66.0% |
| Other amounts payable | 178/9 | €1,300 | €1,250 | -€50 | -3.8% |
| Amounts payable within one year | 42/48 | €793,706 | €56,798 | -€736,908 | -92.8% |
| Current portion of amounts payable after more than one year | 42 | €110,063 | €15,789 | -€94,274 | -85.7% |
| Financial debts | 43 | €478,000 | €0 | -€478,000 | -100.0% |
| Other loans | 439 | €478,000 | €0 | -€478,000 | -100.0% |
| Trade debts | 44 | €18,726 | €2,005 | -€16,721 | -89.3% |
| Suppliers | 440/4 | €18,726 | €2,005 | -€16,721 | -89.3% |
| Taxes, remuneration and social security | 45 | €67,101 | €39,003 | -€28,099 | -41.9% |
| Taxes | 450/3 | €67,101 | €39,003 | -€28,099 | -41.9% |
| Other amounts payable | 47/48 | €119,815 | €0 | -€119,815 | -100.0% |
| Accrued charges and deferred income | 492/3 | €26,835 | €0 | -€26,835 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,804 | €15,947 | +€2,143 | +15.5% |
| Other operating charges | 640/8 | €1,690 | €5,871 | +€4,181 | +247.4% |
| Gross operating margin | 9900 | €135,737 | €128,963 | -€6,775 | -5.0% |
| Operating profit (loss) | 9901 | €120,244 | €107,145 | -€13,099 | -10.9% |
| Financial income | 75/76B | €30,207 | €174 | -€30,033 | -99.4% |
| Recurring financial income | 75 | €30,207 | €174 | -€30,033 | -99.4% |
| Financial charges | 65/66B | €55,980 | €38,073 | -€17,907 | -32.0% |
| Recurring financial charges | 65 | €55,980 | €38,073 | -€17,907 | -32.0% |
| Profit (loss) for the period before taxes | 9903 | €94,470 | €69,245 | -€25,225 | -26.7% |
| Income taxes | 67/77 | €27,792 | €19,579 | -€8,212 | -29.5% |
| Profit (loss) for the period | 9904 | €66,679 | €49,666 | -€17,013 | -25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €66,679 | €49,666 | -€17,013 | -25.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.