PETERFREUND & ASSOCIATES: 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.
PETERFREUND & ASSOCIATES
Largest movements
- Cash -€128,723
down €128,723 (-25.4%), from €507,033 to €378,310
mainly Contributions, distributions and other (-€484,211)
- Current investments -€39,580
down €39,580 (-2.2%), from €1.8m to €1.7m
- Receivables within one year -€32,609
down €32,609 (-77.2%), from €42,247 to €9,638
of which Other amounts receivable: -€36,956
- Reserves -€219,908
down €219,908 (-8.6%), from €2.6m to €2.3m
- Gross operating margin -€85,468
down €85,468 (-17.2%), from €495,888 to €410,420
- Financial charges +€51,555
up €51,555 (+138%), from €37,446 to €89,001
of which Financial charges: +€51,038
- Taxes -€29,024
down €29,024 (-15.2%), from €190,387 to €161,364
- Financial income -€12,333
down €12,333 (-9.6%), from €128,940 to €116,607
of which Financial income: -€11,821
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 | €2,581,171 | €2,369,394 | -€211,776 | -8.2% |
| Fixed assets | 21/28 | €255,230 | €245,848 | -€9,382 | -3.7% |
| Tangible fixed assets | 22/27 | €255,230 | €245,848 | -€9,382 | -3.7% |
| Land and buildings | 22 | €244,375 | €238,116 | -€6,259 | -2.6% |
| Plant, machinery and equipment | 23 | €3,656 | €2,159 | -€1,497 | -40.9% |
| Furniture and vehicles | 24 | €7,199 | €5,573 | -€1,626 | -22.6% |
| Current assets | 29/58 | €2,325,941 | €2,123,547 | -€202,394 | -8.7% |
| Amounts receivable within one year | 40/41 | €42,247 | €9,638 | -€32,609 | -77.2% |
| Trade receivables | 40 | €1,736 | €6,084 | +€4,347 | +250% |
| Other amounts receivable | 41 | €40,511 | €3,555 | -€36,956 | -91.2% |
| Current investments | 50/53 | €1,772,679 | €1,733,098 | -€39,580 | -2.2% |
| Cash at bank and in hand | 54/58 | €507,033 | €378,310 | -€128,723 | -25.4% |
| Deferred charges and accrued income | 490/1 | €3,982 | €2,500 | -€1,482 | -37.2% |
| Total equity and liabilities | 10/49 | €2,581,171 | €2,369,394 | -€211,776 | -8.2% |
| Equity | 10/15 | €2,570,991 | €2,351,084 | -€219,908 | -8.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,558,591 | €2,338,684 | -€219,908 | -8.6% |
| Distributable reserves | 133 | €2,558,591 | €2,338,684 | -€219,908 | -8.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €10,180 | €18,311 | +€8,131 | +79.9% |
| Amounts payable within one year | 42/48 | €10,180 | €18,311 | +€8,131 | +79.9% |
| Trade debts | 44 | €2,345 | €7,279 | +€4,933 | +210% |
| Suppliers | 440/4 | €2,345 | €7,279 | +€4,933 | +210% |
| Taxes, remuneration and social security | 45 | €1,393 | €4,118 | +€2,725 | +196% |
| Taxes | 450/3 | €1,393 | €4,118 | +€2,725 | +196% |
| Other amounts payable | 47/48 | €6,442 | €6,914 | +€472 | +7.3% |
| Non-recurring operating income | 76A | €83 | €0 | -€83 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,208 | €8,866 | +€658 | +8.0% |
| Other operating charges | 640/8 | €1,091 | €3,494 | +€2,404 | +220% |
| Non-recurring operating charges | 66A | €1,438 | €0 | -€1,438 | -100% |
| Gross operating margin | 9900 | €495,888 | €410,420 | -€85,468 | -17.2% |
| Operating profit (loss) | 9901 | €485,152 | €398,060 | -€87,092 | -18.0% |
| Financial income | 75/76B | €128,940 | €116,607 | -€12,333 | -9.6% |
| Recurring financial income | 75 | €128,428 | €116,607 | -€11,821 | -9.2% |
| Non-recurring financial income | 76B | €512 | €0 | -€512 | -100% |
| Financial charges | 65/66B | €37,446 | €89,001 | +€51,555 | +138% |
| Recurring financial charges | 65 | €37,446 | €88,484 | +€51,038 | +136% |
| Non-recurring financial charges | 66B | - | €517 | +€517 | |
| Profit (loss) for the period before taxes | 9903 | €576,647 | €425,667 | -€150,980 | -26.2% |
| Income taxes | 67/77 | €190,387 | €161,364 | -€29,024 | -15.2% |
| Profit (loss) for the period | 9904 | €386,259 | €264,303 | -€121,956 | -31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €386,259 | €264,303 | -€121,956 | -31.6% |
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 31 October 2026 via checked.be.