PETER WALRAVENS: 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 WALRAVENS
Largest movements
- Tangible fixed assets -€11,658
down €11,658 (-21.2%), from €55,062 to €43,404
- Receivables within one year +€10,768
up €10,768 (+460%), from €2,341 to €13,109
- Cash +€5,725
up €5,725 (+2.6%), from €220,800 to €226,525
mainly Trade debts (+€36,353) and Depreciation (+€11,658)
- Deferred charges and accrued income -€4,424
down €4,424 (-64.6%), from €6,846 to €2,422
- Trade debts +€36,353
up €36,353 (+303%), from €12,008 to €48,360
- Tax, wage and social debts -€24,733
down €24,733 (-69.1%), from €35,775 to €11,042
- Other debts -€16,141
no longer reported in 2025 (was €16,141)
- Reserves +€7,792
up €7,792 (+3.8%), from €205,865 to €213,657
of which Distributable reserves: +€7,792
- Advances received -€2,859
no longer reported in 2025 (was €2,859)
- Gross operating margin -€109,475
down €109,475 (-75.1%), from €145,829 to €36,354
- Taxes -€27,206
down €27,206 (-76.1%), from €35,741 to €8,535
- Depreciation +€10,499
up €10,499 (+906%), from €1,158 to €11,658
- Other operating charges +€5,529
up €5,529 (+384%), from €1,440 to €6,969
- Financial charges -€4,678
down €4,678 (-83.5%), from €5,602 to €924
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 | €285,049 | €285,460 | +€411 | +0.1% |
| Fixed assets | 21/28 | €55,062 | €43,404 | -€11,658 | -21.2% |
| Tangible fixed assets | 22/27 | €55,062 | €43,404 | -€11,658 | -21.2% |
| Furniture and vehicles | 24 | €55,062 | €43,404 | -€11,658 | -21.2% |
| Current assets | 29/58 | €229,987 | €242,056 | +€12,069 | +5.2% |
| Amounts receivable within one year | 40/41 | €2,341 | €13,109 | +€10,768 | +460% |
| Other amounts receivable | 41 | €2,341 | €13,109 | +€10,768 | +460% |
| Cash at bank and in hand | 54/58 | €220,800 | €226,525 | +€5,725 | +2.6% |
| Deferred charges and accrued income | 490/1 | €6,846 | €2,422 | -€4,424 | -64.6% |
| Total equity and liabilities | 10/49 | €285,049 | €285,460 | +€411 | +0.1% |
| Equity | 10/15 | €218,266 | €226,058 | +€7,792 | +3.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €205,865 | €213,657 | +€7,792 | +3.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €204,005 | €211,797 | +€7,792 | +3.8% |
| Profit (loss) carried forward | 14 | €1 | €1 | +€0 | +1.4% |
| Amounts payable | 17/49 | €66,783 | €59,402 | -€7,381 | -11.1% |
| Amounts payable within one year | 42/48 | €66,783 | €59,402 | -€7,381 | -11.1% |
| Trade debts | 44 | €12,008 | €48,360 | +€36,353 | +303% |
| Suppliers | 440/4 | €12,008 | €48,360 | +€36,353 | +303% |
| Advances received on contracts in progress | 46 | €2,859 | - | -€2,859 | |
| Taxes, remuneration and social security | 45 | €35,775 | €11,042 | -€24,733 | -69.1% |
| Taxes | 450/3 | €35,775 | €11,042 | -€24,733 | -69.1% |
| Other amounts payable | 47/48 | €16,141 | - | -€16,141 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,158 | €11,658 | +€10,499 | +906% |
| Other operating charges | 640/8 | €1,440 | €6,969 | +€5,529 | +384% |
| Non-recurring operating charges | 66A | - | €476 | +€476 | |
| Gross operating margin | 9900 | €145,829 | €36,354 | -€109,475 | -75.1% |
| Operating profit (loss) | 9901 | €143,230 | €17,252 | -€125,979 | -88.0% |
| Financial income | 75/76B | €101 | - | -€101 | |
| Recurring financial income | 75 | €101 | - | -€101 | |
| Financial charges | 65/66B | €5,602 | €924 | -€4,678 | -83.5% |
| Recurring financial charges | 65 | €5,602 | €924 | -€4,678 | -83.5% |
| Profit (loss) for the period before taxes | 9903 | €137,729 | €16,327 | -€121,402 | -88.1% |
| Income taxes | 67/77 | €35,741 | €8,535 | -€27,206 | -76.1% |
| Profit (loss) for the period | 9904 | €101,988 | €7,792 | -€94,196 | -92.4% |
| Profit (loss) for the period to be appropriated | 9905 | €101,988 | €7,792 | -€94,196 | -92.4% |
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.