TGL PEETERS: 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.
TGL PEETERS
Largest movements
- Deferred charges and accrued income -€8,084
down €8,084 (-26.1%), from €31,020 to €22,936
- Tangible fixed assets -€4,344
down €4,344 (-24.4%), from €17,795 to €13,451
of which Furniture and vehicles: -€4,151
- Receivables within one year -€3,575
down €3,575 (-13.3%), from €26,961 to €23,386
of which Trade receivables: -€22,856
- Cash -€1,243
down €1,243 (-36.0%), from €3,450 to €2,207
mainly Net result for the year (-€24,016) and Tax, wage and social debts (-€548)
- Profit (loss) carried forward -€24,016
new in 2025: -€24,016
- Other debts +€5,909
up €5,909 (+35.1%), from €16,821 to €22,730
- Trade debts +€1,409
new in 2025: €1,409
- Gross operating margin -€72,091
down €72,091, from €53,467 to -€18,624
- Taxes -€9,948
no longer reported in 2025 (was €9,948)
- Other operating charges -€2,522
down €2,522 (-82.5%), from €3,056 to €534
- Depreciation +€1,522
up €1,522 (+53.9%), from €2,822 to €4,344
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 | €79,226 | €61,980 | -€17,246 | -21.8% |
| Fixed assets | 21/28 | €17,795 | €13,451 | -€4,344 | -24.4% |
| Tangible fixed assets | 22/27 | €17,795 | €13,451 | -€4,344 | -24.4% |
| Plant, machinery and equipment | 23 | €822 | €629 | -€193 | -23.5% |
| Furniture and vehicles | 24 | €16,973 | €12,822 | -€4,151 | -24.5% |
| Current assets | 29/58 | €61,431 | €48,529 | -€12,902 | -21.0% |
| Amounts receivable within one year | 40/41 | €26,961 | €23,386 | -€3,575 | -13.3% |
| Trade receivables | 40 | €26,961 | €4,105 | -€22,856 | -84.8% |
| Other amounts receivable | 41 | - | €19,281 | +€19,281 | |
| Cash at bank and in hand | 54/58 | €3,450 | €2,207 | -€1,243 | -36.0% |
| Deferred charges and accrued income | 490/1 | €31,020 | €22,936 | -€8,084 | -26.1% |
| Total equity and liabilities | 10/49 | €79,226 | €61,980 | -€17,246 | -21.8% |
| Equity | 10/15 | €47,390 | €23,374 | -€24,016 | -50.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €37,390 | €37,390 | = | 0.0% |
| Distributable reserves | 133 | €37,390 | €37,390 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€24,016 | -€24,016 | |
| Amounts payable | 17/49 | €31,836 | €38,606 | +€6,770 | +21.3% |
| Amounts payable within one year | 42/48 | €31,836 | €38,606 | +€6,770 | +21.3% |
| Trade debts | 44 | - | €1,409 | +€1,409 | |
| Suppliers | 440/4 | - | €1,409 | +€1,409 | |
| Taxes, remuneration and social security | 45 | €15,015 | €14,467 | -€548 | -3.6% |
| Taxes | 450/3 | €13,516 | €14,467 | +€951 | +7.0% |
| Remuneration and social security | 454/9 | €1,499 | - | -€1,499 | |
| Other amounts payable | 47/48 | €16,821 | €22,730 | +€5,909 | +35.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,822 | €4,344 | +€1,522 | +53.9% |
| Other operating charges | 640/8 | €3,056 | €534 | -€2,522 | -82.5% |
| Gross operating margin | 9900 | €53,467 | -€18,624 | -€72,091 | |
| Operating profit (loss) | 9901 | €47,589 | -€23,502 | -€71,091 | |
| Financial charges | 65/66B | €250 | €514 | +€264 | +106% |
| Recurring financial charges | 65 | €250 | €514 | +€264 | +106% |
| Profit (loss) for the period before taxes | 9903 | €47,339 | -€24,016 | -€71,355 | |
| Income taxes | 67/77 | €9,948 | - | -€9,948 | |
| Profit (loss) for the period | 9904 | €37,391 | -€24,016 | -€61,407 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,391 | -€24,016 | -€61,407 |
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 22 October 2026 via checked.be.