Peter Wouters: 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 Wouters
Largest movements
- Receivables within one year -€42,523
down €42,523 (-10.0%), from €425,191 to €382,667
of which Trade receivables: -€49,878
- Tangible fixed assets -€10,431
down €10,431 (-3.0%), from €350,978 to €340,547
of which Land and buildings: -€10,071
- Trade debts -€34,437
down €34,437 (-95.8%), from €35,949 to €1,511
- Current portion of long-term debt -€25,450
no longer reported in 2025 (was €25,450)
- Gross operating margin -€5,507
down €5,507 (-23.8%), from €23,135 to €17,628
- Taxes -€1,550
down €1,550 (-33.2%), from €4,663 to €3,113
- Financial charges -€504
down €504 (-39.6%), from €1,273 to €769
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 | €832,519 | €778,403 | -€54,116 | -6.5% |
| Fixed assets | 21/28 | €350,978 | €340,547 | -€10,431 | -3.0% |
| Tangible fixed assets | 22/27 | €350,978 | €340,547 | -€10,431 | -3.0% |
| Land and buildings | 22 | €350,139 | €340,068 | -€10,071 | -2.9% |
| Plant, machinery and equipment | 23 | €839 | €478 | -€361 | -43.0% |
| Current assets | 29/58 | €481,540 | €437,856 | -€43,684 | -9.1% |
| Amounts receivable within one year | 40/41 | €425,191 | €382,667 | -€42,523 | -10.0% |
| Trade receivables | 40 | €270,939 | €221,061 | -€49,878 | -18.4% |
| Other amounts receivable | 41 | €154,251 | €161,606 | +€7,355 | +4.8% |
| Cash at bank and in hand | 54/58 | €55,926 | €54,741 | -€1,185 | -2.1% |
| Deferred charges and accrued income | 490/1 | €424 | €447 | +€23 | +5.5% |
| Total equity and liabilities | 10/49 | €832,519 | €778,403 | -€54,116 | -6.5% |
| Equity | 10/15 | €487,336 | €493,557 | +€6,221 | +1.3% |
| Contributions | 10/11 | €132,000 | €132,000 | = | 0.0% |
| Reserves | 13 | €355,336 | €361,557 | +€6,221 | +1.8% |
| Distributable reserves | 133 | €355,336 | €361,557 | +€6,221 | +1.8% |
| Amounts payable | 17/49 | €345,183 | €284,846 | -€60,337 | -17.5% |
| Amounts payable within one year | 42/48 | €345,183 | €284,846 | -€60,337 | -17.5% |
| Current portion of amounts payable after more than one year | 42 | €25,450 | - | -€25,450 | |
| Trade debts | 44 | €35,949 | €1,511 | -€34,437 | -95.8% |
| Suppliers | 440/4 | €35,949 | €1,511 | -€34,437 | -95.8% |
| Taxes, remuneration and social security | 45 | €6,156 | €3,113 | -€3,043 | -49.4% |
| Taxes | 450/3 | €6,156 | €3,113 | -€3,043 | -49.4% |
| Other amounts payable | 47/48 | €277,628 | €280,222 | +€2,594 | +0.9% |
| Non-recurring operating income | 76A | €554 | - | -€554 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,431 | €10,431 | = | 0.0% |
| Other operating charges | 640/8 | €4,565 | €4,637 | +€72 | +1.6% |
| Non-recurring operating charges | 66A | €468 | - | -€468 | |
| Gross operating margin | 9900 | €23,135 | €17,628 | -€5,507 | -23.8% |
| Operating profit (loss) | 9901 | €7,672 | €2,560 | -€5,111 | -66.6% |
| Financial income | 75/76B | €7,345 | €7,542 | +€197 | +2.7% |
| Recurring financial income | 75 | €7,345 | €7,542 | +€197 | +2.7% |
| Financial charges | 65/66B | €1,273 | €769 | -€504 | -39.6% |
| Recurring financial charges | 65 | €1,273 | €769 | -€504 | -39.6% |
| Profit (loss) for the period before taxes | 9903 | €13,744 | €9,334 | -€4,410 | -32.1% |
| Income taxes | 67/77 | €4,663 | €3,113 | -€1,550 | -33.2% |
| Profit (loss) for the period | 9904 | €9,081 | €6,221 | -€2,860 | -31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,081 | €6,221 | -€2,860 | -31.5% |
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 11 October 2026 via checked.be.