PETER VANDENBERGHE: 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 VANDENBERGHE
Largest movements
- Receivables within one year +€29,875
up €29,875 (+161.4%), from €18,509 to €48,384
of which Trade receivables: +€28,616
- Cash -€16,816
down €16,816 (-73.7%), from €22,811 to €5,995
mainly Receivables within one year (-€29,875) and Net result for the year (-€15,296)
- Tangible fixed assets -€2,545
down €2,545 (-24.4%), from €10,437 to €7,892
of which Land and buildings: -€1,899
- Deferred charges and accrued income +€1,006
up €1,006 (+107.5%), from €936 to €1,941
- Other debts +€15,395
up €15,395 (+53.8%), from €28,609 to €44,003
- Profit (loss) carried forward -€15,296
new in 2025: -€15,296
- Trade debts +€13,049
up €13,049 (+272.6%), from €4,786 to €17,835
- Tax, wage and social debts -€1,389
down €1,389 (-13.7%), from €10,117 to €8,728
of which Remuneration and social security: -€2,541
- Gross operating margin +€13,323
up €13,323 (+65.8%), from -€20,250 to -€6,926
- Financial charges +€1,127
up €1,127 (+33.9%), from €3,321 to €4,448
- Depreciation +€894
up €894 (+39.5%), from €2,260 to €3,153
- Other operating charges +€402
up €402 (+318.8%), from €126 to €528
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 | €52,693 | €64,212 | +€11,519 | +21.9% |
| Fixed assets | 21/28 | €10,437 | €7,892 | -€2,545 | -24.4% |
| Tangible fixed assets | 22/27 | €10,437 | €7,892 | -€2,545 | -24.4% |
| Land and buildings | 22 | €8,401 | €6,502 | -€1,899 | -22.6% |
| Plant, machinery and equipment | 23 | €526 | €249 | -€277 | -52.7% |
| Furniture and vehicles | 24 | €1,510 | €1,141 | -€369 | -24.5% |
| Current assets | 29/58 | €42,256 | €56,320 | +€14,065 | +33.3% |
| Amounts receivable within one year | 40/41 | €18,509 | €48,384 | +€29,875 | +161.4% |
| Trade receivables | 40 | €12,179 | €40,795 | +€28,616 | +235.0% |
| Other amounts receivable | 41 | €6,330 | €7,589 | +€1,259 | +19.9% |
| Cash at bank and in hand | 54/58 | €22,811 | €5,995 | -€16,816 | -73.7% |
| Deferred charges and accrued income | 490/1 | €936 | €1,941 | +€1,006 | +107.5% |
| Total equity and liabilities | 10/49 | €52,693 | €64,212 | +€11,519 | +21.9% |
| Equity | 10/15 | €8,941 | -€6,355 | -€15,296 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €5,941 | €5,941 | = | 0.0% |
| Distributable reserves | 133 | €5,941 | €5,941 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€15,296 | -€15,296 | |
| Amounts payable | 17/49 | €43,752 | €70,567 | +€26,815 | +61.3% |
| Amounts payable within one year | 42/48 | €43,512 | €70,567 | +€27,055 | +62.2% |
| Trade debts | 44 | €4,786 | €17,835 | +€13,049 | +272.6% |
| Suppliers | 440/4 | €4,786 | €17,835 | +€13,049 | +272.6% |
| Taxes, remuneration and social security | 45 | €10,117 | €8,728 | -€1,389 | -13.7% |
| Taxes | 450/3 | €7,576 | €8,728 | +€1,152 | +15.2% |
| Remuneration and social security | 454/9 | €2,541 | - | -€2,541 | |
| Other amounts payable | 47/48 | €28,609 | €44,003 | +€15,395 | +53.8% |
| Accrued charges and deferred income | 492/3 | €240 | - | -€240 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,260 | €3,153 | +€894 | +39.5% |
| Other operating charges | 640/8 | €126 | €528 | +€402 | +318.8% |
| Gross operating margin | 9900 | -€20,250 | -€6,926 | +€13,323 | +65.8% |
| Operating profit (loss) | 9901 | -€22,635 | -€10,607 | +€12,028 | +53.1% |
| Financial income | 75/76B | €22 | - | -€22 | |
| Recurring financial income | 75 | €22 | - | -€22 | |
| Financial charges | 65/66B | €3,321 | €4,448 | +€1,127 | +33.9% |
| Recurring financial charges | 65 | €3,321 | €4,448 | +€1,127 | +33.9% |
| Profit (loss) for the period before taxes | 9903 | -€25,934 | -€15,055 | +€10,879 | +41.9% |
| Income taxes | 67/77 | €170 | €241 | +€71 | +41.7% |
| Profit (loss) for the period | 9904 | -€26,104 | -€15,296 | +€10,808 | +41.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,104 | -€15,296 | +€10,808 | +41.4% |
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.