Petrel: what changed
Petrel
Largest movements
- Receivables within one year +€23,308
up €23,308 (+23.6%), from €98,615 to €121,923
of which Trade receivables: +€23,192
- Cash +€12,901
up €12,901 (+61.2%), from €21,063 to €33,964
mainly Other debts (+€34,304) and Net result for the year (+€11,156)
- Current investments +€10,450
up €10,450 (+27.9%), from €37,480 to €47,930
- Stocks and contracts -€7,570
no longer reported in 2025 (was €7,570)
- Financial fixed assets -€6,300
no longer reported in 2025 (was €6,300)
- Other debts +€34,304
up €34,304 (+25.1%), from €136,461 to €170,765
- Trade debts -€12,327
down €12,327 (-69.1%), from €17,837 to €5,510
- Profit (loss) carried forward +€11,156
up €11,156 (+37.2%), from -€29,975 to -€18,819
- Staff costs -€12,245
down €12,245 (-19.3%), from €63,360 to €51,116
- Taxes +€8,921
up €8,921 (+6,394%), from €140 to €9,061
- Financial income -€5,331
down €5,331 (-100.0%), from €5,331 to €0
of which Non-recurring financial income: -€5,234
- Other operating charges +€4,710
up €4,710 (+217%), from €2,172 to €6,883
- Depreciation -€2,199
down €2,199 (-86.3%), from €2,547 to €348
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €180,960 | €210,087 | +€29,127 | +16.1% |
| Fixed assets | 21/28 | €14,796 | €6,270 | -€8,526 | -57.6% |
| Tangible fixed assets | 22/27 | €8,496 | €6,270 | -€2,226 | -26.2% |
| Plant, machinery and equipment | 23 | €8,496 | - | -€8,496 | |
| Furniture and vehicles | 24 | - | €6,270 | +€6,270 | |
| Financial fixed assets | 28 | €6,300 | - | -€6,300 | |
| Current assets | 29/58 | €166,165 | €203,817 | +€37,653 | +22.7% |
| Stocks and contracts in progress | 3 | €7,570 | - | -€7,570 | |
| Stocks | 30/36 | €7,570 | - | -€7,570 | |
| Amounts receivable within one year | 40/41 | €98,615 | €121,923 | +€23,308 | +23.6% |
| Trade receivables | 40 | €82,475 | €105,666 | +€23,192 | +28.1% |
| Other amounts receivable | 41 | €16,140 | €16,256 | +€116 | +0.7% |
| Current investments | 50/53 | €37,480 | €47,930 | +€10,450 | +27.9% |
| Cash at bank and in hand | 54/58 | €21,063 | €33,964 | +€12,901 | +61.2% |
| Deferred charges and accrued income | 490/1 | €1,437 | - | -€1,437 | |
| Total equity and liabilities | 10/49 | €180,960 | €210,087 | +€29,127 | +16.1% |
| Equity | 10/15 | -€11,375 | -€219 | +€11,156 | +98.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,975 | -€18,819 | +€11,156 | +37.2% |
| Amounts payable | 17/49 | €192,336 | €210,306 | +€17,970 | +9.3% |
| Amounts payable within one year | 42/48 | €192,336 | €210,306 | +€17,970 | +9.3% |
| Financial debts | 43 | €1,949 | - | -€1,949 | |
| Credit institutions | 430/8 | €1,949 | - | -€1,949 | |
| Trade debts | 44 | €17,837 | €5,510 | -€12,327 | -69.1% |
| Suppliers | 440/4 | €17,837 | €5,510 | -€12,327 | -69.1% |
| Advances received on contracts in progress | 46 | €25,000 | €25,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €11,088 | €9,031 | -€2,057 | -18.6% |
| Taxes | 450/3 | €495 | €598 | +€104 | +21.0% |
| Remuneration and social security | 454/9 | €10,594 | €8,433 | -€2,161 | -20.4% |
| Other amounts payable | 47/48 | €136,461 | €170,765 | +€34,304 | +25.1% |
| Remuneration, social security and pensions | 62 | €63,360 | €51,116 | -€12,245 | -19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,547 | €348 | -€2,199 | -86.3% |
| Other operating charges | 640/8 | €2,172 | €6,883 | +€4,710 | +217% |
| Gross operating margin | 9900 | €79,617 | €80,463 | +€845 | +1.1% |
| Operating profit (loss) | 9901 | €11,538 | €22,117 | +€10,578 | +91.7% |
| Financial income | 75/76B | €5,331 | €0 | -€5,331 | -100.0% |
| Recurring financial income | 75 | €97 | €0 | -€97 | -100.0% |
| Non-recurring financial income | 76B | €5,234 | - | -€5,234 | |
| Financial charges | 65/66B | €2,060 | €1,900 | -€161 | -7.8% |
| Recurring financial charges | 65 | €1,238 | €1,441 | +€203 | +16.4% |
| Non-recurring financial charges | 66B | €823 | €459 | -€364 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | €14,809 | €20,217 | +€5,408 | +36.5% |
| Income taxes | 67/77 | €140 | €9,061 | +€8,921 | +6,394% |
| Profit (loss) for the period | 9904 | €14,669 | €11,156 | -€3,513 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,669 | €11,156 | -€3,513 | -23.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.