PETER VANORMELINGEN: 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 VANORMELINGEN
Largest movements
- Tangible fixed assets +€85,335
up €85,335 (+1764.1%), from €4,837 to €90,172
of which Furniture and vehicles: +€82,673
- Cash +€45,430
up €45,430 (+54.7%), from €83,088 to €128,518
mainly Debts after one year (+€51,485) and Net result for the year (+€45,550)
- Receivables within one year -€35,607
down €35,607 (-34.6%), from €102,805 to €67,198
of which Other amounts receivable: -€28,316
- Current investments -€15,000
down €15,000 (-100.0%), from €15,000 to €0
- Deferred charges and accrued income +€5,070
up €5,070 (+110.7%), from €4,579 to €9,648
- Debts after one year +€51,485
new in 2025: €51,485
- Current portion of long-term debt +€15,710
up €15,710 (+261.8%), from €6,000 to €21,710
- Trade debts +€13,680
up €13,680 (+231.2%), from €5,917 to €19,597
- Tax, wage and social debts +€6,799
up €6,799 (+14.7%), from €46,289 to €53,088
of which Taxes: +€6,248
- Gross operating margin +€45,999
up €45,999 (+22.0%), from €209,482 to €255,481
- Depreciation +€18,454
up €18,454 (+615.2%), from €3,000 to €21,454
- Other operating charges +€9,459
up €9,459 (+1142.7%), from €828 to €10,287
- Staff costs +€4,833
up €4,833 (+3.1%), from €154,632 to €159,466
- Taxes +€2,875
up €2,875 (+17.5%), from €16,464 to €19,338
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 | €210,429 | €295,686 | +€85,257 | +40.5% |
| Fixed assets | 21/28 | €4,957 | €90,322 | +€85,365 | +1722.0% |
| Tangible fixed assets | 22/27 | €4,837 | €90,172 | +€85,335 | +1764.1% |
| Furniture and vehicles | 24 | €1,125 | €83,798 | +€82,673 | +7347.4% |
| Other tangible fixed assets | 26 | €3,712 | €6,374 | +€2,662 | +71.7% |
| Financial fixed assets | 28 | €120 | €150 | +€30 | +25.0% |
| Current assets | 29/58 | €205,472 | €205,365 | -€108 | -0.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €102,805 | €67,198 | -€35,607 | -34.6% |
| Trade receivables | 40 | €31,188 | €23,897 | -€7,291 | -23.4% |
| Other amounts receivable | 41 | €71,617 | €43,301 | -€28,316 | -39.5% |
| Current investments | 50/53 | €15,000 | €0 | -€15,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €83,088 | €128,518 | +€45,430 | +54.7% |
| Deferred charges and accrued income | 490/1 | €4,579 | €9,648 | +€5,070 | +110.7% |
| Total equity and liabilities | 10/49 | €210,429 | €295,686 | +€85,257 | +40.5% |
| Equity | 10/15 | €152,104 | €149,728 | -€2,375 | -1.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €148,104 | €145,728 | -€2,375 | -1.6% |
| Distributable reserves | 133 | €148,104 | €145,728 | -€2,375 | -1.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €58,326 | €145,958 | +€87,632 | +150.2% |
| Amounts payable after more than one year | 17 | - | €51,485 | +€51,485 | |
| Financial debts | 170/4 | - | €51,485 | +€51,485 | |
| Amounts payable within one year | 42/48 | €58,206 | €94,405 | +€36,199 | +62.2% |
| Current portion of amounts payable after more than one year | 42 | €6,000 | €21,710 | +€15,710 | +261.8% |
| Financial debts | 43 | - | €9 | +€9 | |
| Credit institutions | 430/8 | - | €9 | +€9 | |
| Trade debts | 44 | €5,917 | €19,597 | +€13,680 | +231.2% |
| Suppliers | 440/4 | €5,917 | €19,597 | +€13,680 | +231.2% |
| Taxes, remuneration and social security | 45 | €46,289 | €53,088 | +€6,799 | +14.7% |
| Taxes | 450/3 | €13,032 | €19,280 | +€6,248 | +47.9% |
| Remuneration and social security | 454/9 | €33,257 | €33,808 | +€551 | +1.7% |
| Accrued charges and deferred income | 492/3 | €119 | €67 | -€52 | -43.5% |
| Remuneration, social security and pensions | 62 | €154,632 | €159,466 | +€4,833 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,000 | €21,454 | +€18,454 | +615.2% |
| Other operating charges | 640/8 | €828 | €10,287 | +€9,459 | +1142.7% |
| Gross operating margin | 9900 | €209,482 | €255,481 | +€45,999 | +22.0% |
| Operating profit (loss) | 9901 | €51,022 | €64,275 | +€13,253 | +26.0% |
| Financial income | 75/76B | €4,707 | €4,166 | -€542 | -11.5% |
| Recurring financial income | 75 | €4,707 | €4,166 | -€542 | -11.5% |
| Financial charges | 65/66B | €1,071 | €3,552 | +€2,481 | +231.7% |
| Recurring financial charges | 65 | €1,071 | €3,552 | +€2,481 | +231.7% |
| Profit (loss) for the period before taxes | 9903 | €54,659 | €64,889 | +€10,230 | +18.7% |
| Income taxes | 67/77 | €16,464 | €19,338 | +€2,875 | +17.5% |
| Profit (loss) for the period | 9904 | €38,195 | €45,550 | +€7,355 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €38,195 | €45,550 | +€7,355 | +19.3% |
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 8 October 2026 via checked.be.