PETER VEREECKEN: 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 VEREECKEN
Largest movements
- Tangible fixed assets -€27,185
down €27,185 (-11.7%), from €233,037 to €205,852
of which Land and buildings: -€17,617
- Receivables after one year -€5,500
down €5,500 (-10.4%), from €52,690 to €47,190
- Cash +€3,740
up €3,740 (+4.9%), from €76,369 to €80,109
mainly Depreciation (+€28,418) and Net result for the year (+€19,755)
- Debts after one year -€37,635
down €37,635 (-18.0%), from €208,946 to €171,311
- Reserves +€8,355
up €8,355 (+8.2%), from €101,787 to €110,142
of which Distributable reserves: +€8,355
- Accrued charges and deferred income +€4,936
up €4,936 (+126%), from €3,914 to €8,850
- Other debts -€4,100
no longer reported in 2025 (was €4,100)
- Gross operating margin -€7,042
down €7,042 (-9.6%), from €73,101 to €66,059
- Taxes -€1,239
down €1,239 (-12.2%), from €10,180 to €8,942
- Financial charges -€1,094
down €1,094 (-11.8%), from €9,269 to €8,175
- Depreciation -€772
down €772 (-2.6%), from €29,190 to €28,418
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 | €372,340 | €340,884 | -€31,456 | -8.4% |
| Fixed assets | 21/28 | €234,993 | €206,575 | -€28,418 | -12.1% |
| Intangible fixed assets | 21 | €1,956 | €723 | -€1,233 | -63.0% |
| Tangible fixed assets | 22/27 | €233,037 | €205,852 | -€27,185 | -11.7% |
| Land and buildings | 22 | €205,158 | €187,541 | -€17,617 | -8.6% |
| Plant, machinery and equipment | 23 | €2,381 | €1,019 | -€1,361 | -57.2% |
| Furniture and vehicles | 24 | €25,498 | €17,292 | -€8,206 | -32.2% |
| Current assets | 29/58 | €137,348 | €134,309 | -€3,038 | -2.2% |
| Amounts receivable after more than one year | 29 | €52,690 | €47,190 | -€5,500 | -10.4% |
| Other amounts receivable | 291 | €52,690 | €47,190 | -€5,500 | -10.4% |
| Amounts receivable within one year | 40/41 | €3 | €182 | +€179 | +5,602% |
| Trade receivables | 40 | €3 | - | -€3 | |
| Other amounts receivable | 41 | - | €182 | +€182 | |
| Cash at bank and in hand | 54/58 | €76,369 | €80,109 | +€3,740 | +4.9% |
| Deferred charges and accrued income | 490/1 | €8,286 | €6,829 | -€1,456 | -17.6% |
| Total equity and liabilities | 10/49 | €372,340 | €340,884 | -€31,456 | -8.4% |
| Equity | 10/15 | €107,987 | €116,342 | +€8,355 | +7.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €101,787 | €110,142 | +€8,355 | +8.2% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Distributable reserves | 133 | €98,687 | €107,042 | +€8,355 | +8.5% |
| Amounts payable | 17/49 | €264,353 | €224,542 | -€39,811 | -15.1% |
| Amounts payable after more than one year | 17 | €208,946 | €171,311 | -€37,635 | -18.0% |
| Financial debts | 170/4 | €208,946 | €171,311 | -€37,635 | -18.0% |
| Amounts payable within one year | 42/48 | €51,493 | €44,380 | -€7,112 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €38,831 | €37,635 | -€1,196 | -3.1% |
| Trade debts | 44 | €2,788 | €2,345 | -€443 | -15.9% |
| Suppliers | 440/4 | €2,788 | €2,345 | -€443 | -15.9% |
| Taxes, remuneration and social security | 45 | €5,774 | €4,401 | -€1,373 | -23.8% |
| Taxes | 450/3 | €5,774 | €4,401 | -€1,373 | -23.8% |
| Other amounts payable | 47/48 | €4,100 | - | -€4,100 | |
| Accrued charges and deferred income | 492/3 | €3,914 | €8,850 | +€4,936 | +126% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,190 | €28,418 | -€772 | -2.6% |
| Other operating charges | 640/8 | €1,839 | €1,890 | +€51 | +2.8% |
| Gross operating margin | 9900 | €73,101 | €66,059 | -€7,042 | -9.6% |
| Operating profit (loss) | 9901 | €42,072 | €35,751 | -€6,321 | -15.0% |
| Financial income | 75/76B | €814 | €1,120 | +€306 | +37.6% |
| Recurring financial income | 75 | €814 | €1,120 | +€306 | +37.6% |
| Financial charges | 65/66B | €9,269 | €8,175 | -€1,094 | -11.8% |
| Recurring financial charges | 65 | €9,269 | €8,175 | -€1,094 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €33,618 | €28,697 | -€4,921 | -14.6% |
| Income taxes | 67/77 | €10,180 | €8,942 | -€1,239 | -12.2% |
| Profit (loss) for the period | 9904 | €23,437 | €19,755 | -€3,683 | -15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,437 | €19,755 | -€3,683 | -15.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.