RIK VANPETEGHEM: 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.
RIK VANPETEGHEM
Largest movements
- Current investments -€206,442
down €206,442 (-5.9%), from €3.5m to €3.3m
- Tangible fixed assets -€154,080
down €154,080 (-8.1%), from €1.9m to €1.7m
of which Land and buildings: -€140,078
- Cash +€150,543
up €150,543 (+292%), from €51,617 to €202,160
mainly Current investments (+€206,442) and Depreciation (+€154,080)
- Receivables within one year +€85,569
up €85,569 (+43.9%), from €194,839 to €280,409
of which Other amounts receivable: +€43,219
- Accrued charges and deferred income -€232,319
down €232,319 (-99.9%), from €232,609 to €289
- Other debts +€66,250
up €66,250 (+11.0%), from €602,954 to €669,204
- Reserves +€63,585
up €63,585 (+1.4%), from €4.6m to €4.6m
of which Distributable reserves: +€63,585
- Gross operating margin -€952,939
down €952,939 (-84.6%), from €1.1m to €173,552
- Financial charges +€221,518
up €221,518, from -€73,589 to €147,929
- Taxes -€209,745
down €209,745 (-88.2%), from €237,878 to €28,133
- Depreciation -€102,602
down €102,602 (-40.0%), from €256,682 to €154,080
- Financial income +€94,248
up €94,248 (+67.1%), from €140,385 to €234,633
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 | €5,850,366 | €5,745,357 | -€105,009 | -1.8% |
| Fixed assets | 21/28 | €2,084,511 | €1,932,431 | -€152,080 | -7.3% |
| Tangible fixed assets | 22/27 | €1,893,480 | €1,739,400 | -€154,080 | -8.1% |
| Land and buildings | 22 | €1,867,535 | €1,727,457 | -€140,078 | -7.5% |
| Plant, machinery and equipment | 23 | €8,688 | €7,903 | -€786 | -9.0% |
| Furniture and vehicles | 24 | €17,256 | €4,041 | -€13,216 | -76.6% |
| Financial fixed assets | 28 | €191,031 | €193,031 | +€2,000 | +1.0% |
| Current assets | 29/58 | €3,765,855 | €3,812,925 | +€47,071 | +1.2% |
| Amounts receivable within one year | 40/41 | €194,839 | €280,409 | +€85,569 | +43.9% |
| Trade receivables | 40 | €18,150 | €60,500 | +€42,350 | +233% |
| Other amounts receivable | 41 | €176,689 | €219,909 | +€43,219 | +24.5% |
| Current investments | 50/53 | €3,500,434 | €3,293,993 | -€206,442 | -5.9% |
| Cash at bank and in hand | 54/58 | €51,617 | €202,160 | +€150,543 | +292% |
| Deferred charges and accrued income | 490/1 | €18,964 | €36,364 | +€17,400 | +91.8% |
| Total equity and liabilities | 10/49 | €5,850,366 | €5,745,357 | -€105,009 | -1.8% |
| Equity | 10/15 | €4,848,183 | €4,911,768 | +€63,585 | +1.3% |
| Contributions | 10/11 | €263,500 | €263,500 | = | 0.0% |
| Reserves | 13 | €4,584,683 | €4,648,268 | +€63,585 | +1.4% |
| Non-distributable reserves | 130/1 | €1,499 | €1,499 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,499 | €1,499 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,179 | €21,179 | = | 0.0% |
| Distributable reserves | 133 | €4,562,005 | €4,625,590 | +€63,585 | +1.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €134,000 | €134,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €134,000 | €134,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €134,000 | €134,000 | = | 0.0% |
| Amounts payable | 17/49 | €868,183 | €699,589 | -€168,594 | -19.4% |
| Amounts payable within one year | 42/48 | €635,574 | €699,299 | +€63,725 | +10.0% |
| Trade debts | 44 | €9,115 | €5,297 | -€3,818 | -41.9% |
| Suppliers | 440/4 | €9,115 | €5,297 | -€3,818 | -41.9% |
| Taxes, remuneration and social security | 45 | €23,505 | €24,798 | +€1,293 | +5.5% |
| Taxes | 450/3 | €23,505 | €24,798 | +€1,293 | +5.5% |
| Other amounts payable | 47/48 | €602,954 | €669,204 | +€66,250 | +11.0% |
| Accrued charges and deferred income | 492/3 | €232,609 | €289 | -€232,319 | -99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €256,682 | €154,080 | -€102,602 | -40.0% |
| Other operating charges | 640/8 | €20,508 | €8,459 | -€12,049 | -58.8% |
| Gross operating margin | 9900 | €1,126,491 | €173,552 | -€952,939 | -84.6% |
| Operating profit (loss) | 9901 | €849,301 | €11,013 | -€838,288 | -98.7% |
| Financial income | 75/76B | €140,385 | €234,633 | +€94,248 | +67.1% |
| Recurring financial income | 75 | €140,385 | €234,633 | +€94,248 | +67.1% |
| Financial charges | 65/66B | -€73,589 | €147,929 | +€221,518 | |
| Recurring financial charges | 65 | -€73,589 | €147,929 | +€221,518 | |
| Profit (loss) for the period before taxes | 9903 | €1,063,276 | €97,718 | -€965,557 | -90.8% |
| Income taxes | 67/77 | €237,878 | €28,133 | -€209,745 | -88.2% |
| Profit (loss) for the period | 9904 | €825,398 | €69,585 | -€755,813 | -91.6% |
| Profit (loss) for the period to be appropriated | 9905 | €825,398 | €69,585 | -€755,813 | -91.6% |
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 25 October 2026 via checked.be.