PETER WUYTS CONSULT: 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 WUYTS CONSULT
Largest movements
- Receivables within one year +€223,276
up €223,276 (+3568.9%), from €6,256 to €229,532
of which Trade receivables: +€224,979
- Current investments +€103,046
up €103,046 (+9.4%), from €1.1m to €1.2m
- Financial fixed assets +€100,000
up €100,000 (+71.8%), from €139,211 to €239,211
- Cash -€44,691
down €44,691 (-16.6%), from €268,669 to €223,978
mainly Receivables within one year (-€223,276) and Investment in fixed assets (net) (-€103,117)
- Receivables after one year +€25,000
up €25,000 (+9.1%), from €275,000 to €300,000
- Reserves +€358,657
up €358,657 (+21.6%), from €1.7m to €2.0m
of which Distributable reserves: +€358,657
- Provisions +€67,452
new in 2025: €67,452
- Gross operating margin +€214,030
up €214,030 (+56.9%), from €375,862 to €589,891
- Provisions +€67,452
new in 2025: €67,452
- Taxes +€49,359
up €49,359 (+36.2%), from €136,214 to €185,573
- Financial charges +€12,101
up €12,101 (+494.8%), from €2,446 to €14,547
- Financial income -€9,192
down €9,192 (-15.3%), from €59,917 to €50,725
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 | €1,828,602 | €2,226,454 | +€397,852 | +21.8% |
| Fixed assets | 21/28 | €183,051 | €274,562 | +€91,511 | +50.0% |
| Tangible fixed assets | 22/27 | €43,840 | €35,351 | -€8,489 | -19.4% |
| Plant, machinery and equipment | 23 | - | €3,040 | +€3,040 | |
| Furniture and vehicles | 24 | €43,840 | €32,311 | -€11,529 | -26.3% |
| Financial fixed assets | 28 | €139,211 | €239,211 | +€100,000 | +71.8% |
| Current assets | 29/58 | €1,645,551 | €1,951,892 | +€306,341 | +18.6% |
| Amounts receivable after more than one year | 29 | €275,000 | €300,000 | +€25,000 | +9.1% |
| Other amounts receivable | 291 | €275,000 | €300,000 | +€25,000 | +9.1% |
| Amounts receivable within one year | 40/41 | €6,256 | €229,532 | +€223,276 | +3568.9% |
| Trade receivables | 40 | €725 | €225,703 | +€224,979 | +31042.7% |
| Other amounts receivable | 41 | €5,532 | €3,829 | -€1,703 | -30.8% |
| Current investments | 50/53 | €1,093,526 | €1,196,571 | +€103,046 | +9.4% |
| Cash at bank and in hand | 54/58 | €268,669 | €223,978 | -€44,691 | -16.6% |
| Deferred charges and accrued income | 490/1 | €2,101 | €1,811 | -€290 | -13.8% |
| Total equity and liabilities | 10/49 | €1,828,602 | €2,226,454 | +€397,852 | +21.8% |
| Equity | 10/15 | €1,669,449 | €2,028,106 | +€358,657 | +21.5% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Reserves | 13 | €1,656,849 | €2,015,506 | +€358,657 | +21.6% |
| 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 | €1,654,989 | €2,013,646 | +€358,657 | +21.7% |
| Provisions and deferred taxes | 16 | - | €67,452 | +€67,452 | |
| Provisions for liabilities and charges | 160/5 | - | €67,452 | +€67,452 | |
| Other liabilities and charges | 164/5 | - | €67,452 | +€67,452 | |
| Amounts payable | 17/49 | €159,154 | €130,896 | -€28,257 | -17.8% |
| Amounts payable after more than one year | 17 | €30,209 | €20,247 | -€9,963 | -33.0% |
| Financial debts | 170/4 | €30,209 | €20,247 | -€9,963 | -33.0% |
| Amounts payable within one year | 42/48 | €128,944 | €110,650 | -€18,295 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €9,572 | €9,963 | +€391 | +4.1% |
| Trade debts | 44 | €5,494 | €3,325 | -€2,169 | -39.5% |
| Suppliers | 440/4 | €5,494 | €3,325 | -€2,169 | -39.5% |
| Taxes, remuneration and social security | 45 | €113,665 | €97,362 | -€16,303 | -14.3% |
| Taxes | 450/3 | €113,665 | €97,362 | -€16,303 | -14.3% |
| Other amounts payable | 47/48 | €214 | - | -€214 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,529 | €11,606 | +€77 | +0.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €67,452 | +€67,452 | |
| Other operating charges | 640/8 | €1,086 | €2,781 | +€1,696 | +156.2% |
| Gross operating margin | 9900 | €375,862 | €589,891 | +€214,030 | +56.9% |
| Operating profit (loss) | 9901 | €363,247 | €508,052 | +€144,805 | +39.9% |
| Financial income | 75/76B | €59,917 | €50,725 | -€9,192 | -15.3% |
| Recurring financial income | 75 | €59,917 | €50,725 | -€9,192 | -15.3% |
| Financial charges | 65/66B | €2,446 | €14,547 | +€12,101 | +494.8% |
| Recurring financial charges | 65 | €2,446 | €14,547 | +€12,101 | +494.8% |
| Profit (loss) for the period before taxes | 9903 | €420,719 | €544,230 | +€123,511 | +29.4% |
| Income taxes | 67/77 | €136,214 | €185,573 | +€49,359 | +36.2% |
| Profit (loss) for the period | 9904 | €284,505 | €358,657 | +€74,152 | +26.1% |
| Transfer from tax-exempt reserves | 789 | €63,150 | - | -€63,150 | |
| Profit (loss) for the period to be appropriated | 9905 | €347,655 | €358,657 | +€11,002 | +3.2% |
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.