Peter Van Oevelen: 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 Van Oevelen
Largest movements
- Cash +€40,276
up €40,276 (+35.5%), from €113,589 to €153,865
mainly Net result for the year (+€87,129) and Depreciation (+€12,046)
- Current investments +€15,610
up €15,610 (+8.0%), from €194,312 to €209,923
- Receivables within one year +€12,005
up €12,005 (+49.5%), from €24,233 to €36,238
of which Other amounts receivable: +€8,088
- Tangible fixed assets -€7,850
down €7,850 (-26.9%), from €29,229 to €21,379
of which Other tangible fixed assets: -€6,796
- Reserves +€87,129
up €87,129 (+29.2%), from €298,152 to €385,281
- Other debts -€31,372
down €31,372 (-77.3%), from €40,581 to €9,209
- Gross operating margin -€21,214
down €21,214 (-13.4%), from €158,049 to €136,834
- Taxes -€4,907
down €4,907 (-11.2%), from €43,763 to €38,856
- Financial income +€3,881
up €3,881 (+121%), from €3,194 to €7,075
- Depreciation -€2,272
down €2,272 (-15.9%), from €14,318 to €12,046
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 | €364,753 | €426,199 | +€61,446 | +16.8% |
| Fixed assets | 21/28 | €29,229 | €21,379 | -€7,850 | -26.9% |
| Tangible fixed assets | 22/27 | €29,229 | €21,379 | -€7,850 | -26.9% |
| Land and buildings | 22 | €1,503 | €1,454 | -€50 | -3.3% |
| Furniture and vehicles | 24 | €2,474 | €1,470 | -€1,005 | -40.6% |
| Other tangible fixed assets | 26 | €25,252 | €18,456 | -€6,796 | -26.9% |
| Current assets | 29/58 | €335,523 | €404,820 | +€69,296 | +20.7% |
| Amounts receivable within one year | 40/41 | €24,233 | €36,238 | +€12,005 | +49.5% |
| Trade receivables | 40 | €23,972 | €27,889 | +€3,917 | +16.3% |
| Other amounts receivable | 41 | €261 | €8,349 | +€8,088 | +3,095% |
| Current investments | 50/53 | €194,312 | €209,923 | +€15,610 | +8.0% |
| Cash at bank and in hand | 54/58 | €113,589 | €153,865 | +€40,276 | +35.5% |
| Deferred charges and accrued income | 490/1 | €3,388 | €4,794 | +€1,406 | +41.5% |
| Total equity and liabilities | 10/49 | €364,753 | €426,199 | +€61,446 | +16.8% |
| Equity | 10/15 | €304,352 | €391,481 | +€87,129 | +28.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €298,152 | €385,281 | +€87,129 | +29.2% |
| Distributable reserves | 133 | €298,152 | €385,281 | +€87,129 | +29.2% |
| Amounts payable | 17/49 | €60,401 | €34,718 | -€25,683 | -42.5% |
| Amounts payable within one year | 42/48 | €59,993 | €33,637 | -€26,356 | -43.9% |
| Trade debts | 44 | €8,785 | €12,395 | +€3,610 | +41.1% |
| Suppliers | 440/4 | €8,785 | €12,395 | +€3,610 | +41.1% |
| Advances received on contracts in progress | 46 | - | €56 | +€56 | |
| Taxes, remuneration and social security | 45 | €10,627 | €11,977 | +€1,350 | +12.7% |
| Taxes | 450/3 | €5,627 | €3,534 | -€2,093 | -37.2% |
| Remuneration and social security | 454/9 | €5,000 | €8,443 | +€3,443 | +68.9% |
| Other amounts payable | 47/48 | €40,581 | €9,209 | -€31,372 | -77.3% |
| Accrued charges and deferred income | 492/3 | €407 | €1,080 | +€673 | +165% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,318 | €12,046 | -€2,272 | -15.9% |
| Other operating charges | 640/8 | €3,173 | €3,264 | +€91 | +2.9% |
| Gross operating margin | 9900 | €158,049 | €136,834 | -€21,214 | -13.4% |
| Operating profit (loss) | 9901 | €140,558 | €121,524 | -€19,034 | -13.5% |
| Financial income | 75/76B | €3,194 | €7,075 | +€3,881 | +121% |
| Recurring financial income | 75 | €3,194 | €7,075 | +€3,881 | +121% |
| Financial charges | 65/66B | €3,266 | €2,614 | -€652 | -20.0% |
| Recurring financial charges | 65 | €3,266 | €2,614 | -€652 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €140,486 | €125,985 | -€14,501 | -10.3% |
| Income taxes | 67/77 | €43,763 | €38,856 | -€4,907 | -11.2% |
| Profit (loss) for the period | 9904 | €96,723 | €87,129 | -€9,594 | -9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €96,723 | €87,129 | -€9,594 | -9.9% |
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 22 October 2026 via checked.be.