Peter Verelst: 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 Verelst
Largest movements
- Stocks and contracts -€4,410
no longer reported in 2025 (was €4,410)
- Receivables within one year -€2,572
down €2,572 (-33.5%), from €7,671 to €5,099
of which Trade receivables: -€2,395
- Tangible fixed assets -€1,212
no longer reported in 2025 (was €1,212)
- Cash -€543
down €543 (-5.4%), from €10,152 to €9,609
mainly Net result for the year (-€9,956)
- Profit (loss) carried forward -€9,956
down €9,956 (-15.7%), from -€63,230 to -€73,186
- Tax, wage and social debts +€438
up €438 (+100.0%), from €438 to €875
- Other debts +€401
up €401 (+0.6%), from €65,505 to €65,906
- Trade debts +€380
up €380 (+139%), from €273 to €653
- Purchases and services +€8,913
new in 2025: €8,913
- Gross operating margin +€6,871
up €6,871 (+47.2%), from -€14,566 to -€7,694
- Depreciation -€1,972
down €1,972 (-61.9%), from €3,184 to €1,212
- Other operating charges -€432
down €432 (-33.8%), from €1,278 to €846
- Taxes +€377
no longer reported in 2025 (was -€377)
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 | €23,446 | €14,708 | -€8,738 | -37.3% |
| Fixed assets | 21/28 | €1,212 | - | -€1,212 | |
| Tangible fixed assets | 22/27 | €1,212 | - | -€1,212 | |
| Plant, machinery and equipment | 23 | €1,212 | - | -€1,212 | |
| Current assets | 29/58 | €22,234 | €14,708 | -€7,526 | -33.8% |
| Stocks and contracts in progress | 3 | €4,410 | - | -€4,410 | |
| Stocks | 30/36 | €4,410 | - | -€4,410 | |
| Amounts receivable within one year | 40/41 | €7,671 | €5,099 | -€2,572 | -33.5% |
| Trade receivables | 40 | €3,804 | €1,409 | -€2,395 | -63.0% |
| Other amounts receivable | 41 | €3,868 | €3,691 | -€177 | -4.6% |
| Cash at bank and in hand | 54/58 | €10,152 | €9,609 | -€543 | -5.4% |
| Total equity and liabilities | 10/49 | €23,446 | €14,708 | -€8,738 | -37.3% |
| Equity | 10/15 | -€42,770 | -€52,726 | -€9,956 | -23.3% |
| Reserves | 13 | €20,460 | €20,460 | = | 0.0% |
| Distributable reserves | 133 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,230 | -€73,186 | -€9,956 | -15.7% |
| Amounts payable | 17/49 | €66,216 | €67,434 | +€1,218 | +1.8% |
| Amounts payable within one year | 42/48 | €66,216 | €67,434 | +€1,218 | +1.8% |
| Trade debts | 44 | €273 | €653 | +€380 | +139% |
| Suppliers | 440/4 | €273 | €653 | +€380 | +139% |
| Taxes, remuneration and social security | 45 | €438 | €875 | +€438 | +100.0% |
| Taxes | 450/3 | €438 | €875 | +€438 | +100.0% |
| Other amounts payable | 47/48 | €65,505 | €65,906 | +€401 | +0.6% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €8,913 | +€8,913 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,184 | €1,212 | -€1,972 | -61.9% |
| Other operating charges | 640/8 | €1,278 | €846 | -€432 | -33.8% |
| Gross operating margin | 9900 | -€14,566 | -€7,694 | +€6,871 | +47.2% |
| Operating profit (loss) | 9901 | -€19,027 | -€9,752 | +€9,275 | +48.7% |
| Financial income | 75/76B | €1 | €0 | -€1 | -99.2% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -99.2% |
| Non-recurring financial income | 76B | - | €0 | +€0 | |
| Financial charges | 65/66B | €92 | €204 | +€112 | +122% |
| Recurring financial charges | 65 | €92 | €204 | +€112 | +122% |
| Non-recurring financial charges | 66B | €92 | €204 | +€112 | +122% |
| Profit (loss) for the period before taxes | 9903 | -€19,118 | -€9,956 | +€9,162 | +47.9% |
| Income taxes | 67/77 | -€377 | - | +€377 | |
| Profit (loss) for the period | 9904 | -€18,741 | -€9,956 | +€8,785 | +46.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,741 | -€9,956 | +€8,785 | +46.9% |
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 17 October 2026 via checked.be.