Steven Peirsman: what changed
What changed
Steven Peirsman
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€30,420
2025 · €29,806+€614
Equity
€82,634
2025 · €52,214+€30,420
Cash
€21,153
2025 · €20,989+€164
Balance sheet total
€124,735
2025 · €83,749+€40,986
Largest movements
Assets
- Current investments +€21,306
up €21,306 (+168%), from €12,655 to €33,961
- Tangible fixed assets +€18,851
up €18,851 (+82.0%), from €22,980 to €41,832
of which Other tangible fixed assets: +€12,622
Equity and liabilities
- Reserves +€30,428
up €30,428 (+81.8%), from €37,206 to €67,634
- Trade debts +€7,034
up €7,034 (+168%), from €4,194 to €11,228
- Tax, wage and social debts +€2,097
up €2,097 (+7.9%), from €26,710 to €28,807
of which Taxes: +€9,735
- Short-term financial debts +€1,482
new in 2026: €1,482
Income statement
- Depreciation +€4,757
up €4,757 (+79.9%), from €5,951 to €10,708
- Gross operating margin +€4,444
up €4,444 (+8.4%), from €52,919 to €57,363
- Financial charges -€744
down €744 (-16.1%), from €4,611 to €3,866
of which Financial charges: -€744
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€29,806
Gross operating margin
+€4,444
Depreciation
-€4,757
Other operating charges
+€111
Financial income
+€164
Financial charges
+€744
Taxes
-€93
Result 2026
€30,420
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€49,547
Investment
-€50,865
Financing
+€1,482
Cash 2025
€20,989
From operations (derived)
+€49,547
Net result for the year
+€30,420
Depreciation
+€10,708
Receivables within one year
-€919
Deferred charges and accrued income
+€254
Trade debts
+€7,034
Tax, wage and social debts
+€2,097
Other debts
-€47
Investment (derived)
-€50,865
Investment in fixed assets (net)
-€29,560
Current investments
-€21,306
Financing
+€1,482
Short-term financial debts
+€1,482
Cash 2026
€21,153
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €83,749 | €124,735 | +€40,986 | +48.9% |
| Fixed assets | 21/28 | €22,980 | €41,832 | +€18,851 | +82.0% |
| Tangible fixed assets | 22/27 | €22,980 | €41,832 | +€18,851 | +82.0% |
| Plant, machinery and equipment | 23 | - | €1,660 | +€1,660 | |
| Furniture and vehicles | 24 | €22,980 | €27,550 | +€4,570 | +19.9% |
| Other tangible fixed assets | 26 | - | €12,622 | +€12,622 | |
| Current assets | 29/58 | €60,769 | €82,904 | +€22,135 | +36.4% |
| Amounts receivable within one year | 40/41 | €22,507 | €23,426 | +€919 | +4.1% |
| Trade receivables | 40 | €22,361 | €23,426 | +€1,065 | +4.8% |
| Other amounts receivable | 41 | €146 | €0 | -€146 | -100% |
| Current investments | 50/53 | €12,655 | €33,961 | +€21,306 | +168% |
| Cash at bank and in hand | 54/58 | €20,989 | €21,153 | +€164 | +0.8% |
| Deferred charges and accrued income | 490/1 | €4,618 | €4,364 | -€254 | -5.5% |
| Total equity and liabilities | 10/49 | €83,749 | €124,735 | +€40,986 | +48.9% |
| Equity | 10/15 | €52,214 | €82,634 | +€30,420 | +58.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €37,206 | €67,634 | +€30,428 | +81.8% |
| Distributable reserves | 133 | €37,206 | €67,634 | +€30,428 | +81.8% |
| Profit (loss) carried forward | 14 | €8 | €0 | -€8 | -100% |
| Amounts payable | 17/49 | €31,535 | €42,102 | +€10,566 | +33.5% |
| Amounts payable within one year | 42/48 | €31,535 | €42,102 | +€10,566 | +33.5% |
| Financial debts | 43 | - | €1,482 | +€1,482 | |
| Credit institutions | 430/8 | - | €1,482 | +€1,482 | |
| Trade debts | 44 | €4,194 | €11,228 | +€7,034 | +168% |
| Suppliers | 440/4 | €4,194 | €11,228 | +€7,034 | +168% |
| Taxes, remuneration and social security | 45 | €26,710 | €28,807 | +€2,097 | +7.9% |
| Taxes | 450/3 | €19,072 | €28,807 | +€9,735 | +51.0% |
| Remuneration and social security | 454/9 | €7,637 | €0 | -€7,637 | -100% |
| Other amounts payable | 47/48 | €632 | €584 | -€47 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,951 | €10,708 | +€4,757 | +79.9% |
| Other operating charges | 640/8 | €816 | €705 | -€111 | -13.6% |
| Gross operating margin | 9900 | €52,919 | €57,363 | +€4,444 | +8.4% |
| Operating profit (loss) | 9901 | €46,151 | €45,950 | -€202 | -0.4% |
| Financial income | 75/76B | €273 | €437 | +€164 | +60.1% |
| Recurring financial income | 75 | €273 | €437 | +€164 | +60.1% |
| Financial charges | 65/66B | €4,611 | €3,866 | -€744 | -16.1% |
| Recurring financial charges | 65 | €4,611 | €3,866 | -€744 | -16.1% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €41,814 | €42,520 | +€707 | +1.7% |
| Income taxes | 67/77 | €12,008 | €12,101 | +€93 | +0.8% |
| Profit (loss) for the period | 9904 | €29,806 | €30,420 | +€614 | +2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,806 | €30,420 | +€614 | +2.1% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.