Thomas Peers: 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.
Thomas Peers
Largest movements
- Cash +€110,805
up €110,805 (+72.2%), from €153,560 to €264,365
mainly Net result for the year (+€110,790) and Depreciation (+€40,994)
- Tangible fixed assets -€15,610
down €15,610 (-7.4%), from €211,393 to €195,783
of which Furniture and vehicles: -€15,672
- Reserves +€110,790
up €110,790 (+24.4%), from €454,636 to €565,426
of which Distributable reserves: +€131,840
- Tax, wage and social debts -€7,749
down €7,749 (-89.2%), from €8,691 to €941
- Gross operating margin +€19,091
up €19,091 (+11.6%), from €163,935 to €183,026
- Depreciation +€5,032
up €5,032 (+14.0%), from €35,962 to €40,994
- Taxes +€3,318
up €3,318 (+12.3%), from €27,057 to €30,375
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 | €504,085 | €603,576 | +€99,491 | +19.7% |
| Fixed assets | 21/28 | €211,393 | €195,783 | -€15,610 | -7.4% |
| Tangible fixed assets | 22/27 | €211,393 | €195,783 | -€15,610 | -7.4% |
| Land and buildings | 22 | €133,421 | €125,643 | -€7,777 | -5.8% |
| Plant, machinery and equipment | 23 | €29,919 | €37,759 | +€7,840 | +26.2% |
| Furniture and vehicles | 24 | €48,054 | €32,381 | -€15,672 | -32.6% |
| Current assets | 29/58 | €292,692 | €407,793 | +€115,102 | +39.3% |
| Amounts receivable within one year | 40/41 | €9,705 | €14,011 | +€4,306 | +44.4% |
| Trade receivables | 40 | €8,130 | €8,943 | +€813 | +10.0% |
| Other amounts receivable | 41 | €1,575 | €5,069 | +€3,494 | +222% |
| Current investments | 50/53 | €125,000 | €125,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €153,560 | €264,365 | +€110,805 | +72.2% |
| Deferred charges and accrued income | 490/1 | €4,427 | €4,417 | -€10 | -0.2% |
| Total equity and liabilities | 10/49 | €504,085 | €603,576 | +€99,491 | +19.7% |
| Equity | 10/15 | €464,636 | €575,426 | +€110,790 | +23.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €454,636 | €565,426 | +€110,790 | +24.4% |
| Tax-exempt reserves | 132 | €75,780 | €54,730 | -€21,050 | -27.8% |
| Distributable reserves | 133 | €378,856 | €510,696 | +€131,840 | +34.8% |
| Amounts payable | 17/49 | €39,450 | €28,151 | -€11,299 | -28.6% |
| Amounts payable within one year | 42/48 | €39,450 | €26,992 | -€12,458 | -31.6% |
| Trade debts | 44 | €12,410 | €9,184 | -€3,226 | -26.0% |
| Suppliers | 440/4 | €12,410 | €9,184 | -€3,226 | -26.0% |
| Taxes, remuneration and social security | 45 | €8,691 | €941 | -€7,749 | -89.2% |
| Taxes | 450/3 | €8,691 | €941 | -€7,749 | -89.2% |
| Other amounts payable | 47/48 | €18,349 | €16,866 | -€1,483 | -8.1% |
| Accrued charges and deferred income | 492/3 | - | €1,159 | +€1,159 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,962 | €40,994 | +€5,032 | +14.0% |
| Other operating charges | 640/8 | €446 | €603 | +€157 | +35.2% |
| Gross operating margin | 9900 | €163,935 | €183,026 | +€19,091 | +11.6% |
| Operating profit (loss) | 9901 | €127,528 | €141,429 | +€13,902 | +10.9% |
| Financial income | 75/76B | €1,024 | €997 | -€27 | -2.6% |
| Recurring financial income | 75 | €1,024 | €997 | -€27 | -2.6% |
| Financial charges | 65/66B | €3,083 | €1,262 | -€1,821 | -59.1% |
| Recurring financial charges | 65 | €3,083 | €1,262 | -€1,821 | -59.1% |
| Profit (loss) for the period before taxes | 9903 | €125,469 | €141,165 | +€15,696 | +12.5% |
| Income taxes | 67/77 | €27,057 | €30,375 | +€3,318 | +12.3% |
| Profit (loss) for the period | 9904 | €98,412 | €110,790 | +€12,378 | +12.6% |
| Transfer from tax-exempt reserves | 789 | - | €42,100 | +€42,100 | |
| Transfer to tax-exempt reserves | 689 | €0 | €21,050 | +€21,050 | |
| Profit (loss) for the period to be appropriated | 9905 | €98,412 | €131,840 | +€33,428 | +34.0% |
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 16 October 2026 via checked.be.