V&G Peeters: what changed
V&G Peeters
Largest movements
- Cash +€15,053
up €15,053 (+714%), from €2,108 to €17,161
mainly Depreciation (+€33,873) and Tax, wage and social debts (+€16,383)
- Deferred charges and accrued income -€6,085
no longer reported in 2025 (was €6,085)
- Receivables within one year +€4,923
up €4,923 (+112%), from €4,410 to €9,333
of which Trade receivables: +€4,923
- Tax, wage and social debts +€16,383
up €16,383 (+139%), from €11,811 to €28,193
- Debts after one year -€11,172
down €11,172 (-5.5%), from €202,242 to €191,070
- Trade debts +€6,957
up €6,957 (+467%), from €1,491 to €8,447
- Other debts +€6,504
up €6,504 (+6.4%), from €102,314 to €108,818
- Depreciation +€23,644
up €23,644 (+231%), from €10,228 to €33,873
- Gross operating margin +€17,467
up €17,467 (+56.5%), from €30,891 to €48,358
- Financial charges -€4,647
down €4,647 (-35.1%), from €13,243 to €8,596
- Taxes +€3,221
new in 2025: €3,221
- Other operating charges +€1,841
up €1,841 (+309%), from €596 to €2,437
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 | €435,564 | €454,887 | +€19,323 | +4.4% |
| Fixed assets | 21/28 | €422,961 | €425,683 | +€2,722 | +0.6% |
| Tangible fixed assets | 22/27 | €422,961 | €425,683 | +€2,722 | +0.6% |
| Land and buildings | 22 | €355,320 | €361,359 | +€6,040 | +1.7% |
| Plant, machinery and equipment | 23 | €67,642 | €63,607 | -€4,034 | -6.0% |
| Furniture and vehicles | 24 | - | €716 | +€716 | |
| Current assets | 29/58 | €12,603 | €29,204 | +€16,601 | +132% |
| Stocks and contracts in progress | 3 | - | €2,710 | +€2,710 | |
| Stocks | 30/36 | - | €2,710 | +€2,710 | |
| Amounts receivable within one year | 40/41 | €4,410 | €9,333 | +€4,923 | +112% |
| Trade receivables | 40 | €410 | €5,333 | +€4,923 | +1,202% |
| Other amounts receivable | 41 | €4,000 | €4,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,108 | €17,161 | +€15,053 | +714% |
| Deferred charges and accrued income | 490/1 | €6,085 | - | -€6,085 | |
| Total equity and liabilities | 10/49 | €435,564 | €454,887 | +€19,323 | +4.4% |
| Equity | 10/15 | €106,948 | €107,186 | +€238 | +0.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €96,948 | €96,948 | = | 0.0% |
| Distributable reserves | 133 | €96,948 | €96,948 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €238 | +€238 | |
| Amounts payable | 17/49 | €328,616 | €347,701 | +€19,085 | +5.8% |
| Amounts payable after more than one year | 17 | €202,242 | €191,070 | -€11,172 | -5.5% |
| Financial debts | 170/4 | €202,242 | €191,070 | -€11,172 | -5.5% |
| Amounts payable within one year | 42/48 | €126,374 | €156,631 | +€30,257 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €10,758 | €11,172 | +€414 | +3.8% |
| Trade debts | 44 | €1,491 | €8,447 | +€6,957 | +467% |
| Suppliers | 440/4 | €1,491 | €8,447 | +€6,957 | +467% |
| Taxes, remuneration and social security | 45 | €11,811 | €28,193 | +€16,383 | +139% |
| Taxes | 450/3 | €11,811 | €28,193 | +€16,383 | +139% |
| Other amounts payable | 47/48 | €102,314 | €108,818 | +€6,504 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,228 | €33,873 | +€23,644 | +231% |
| Other operating charges | 640/8 | €596 | €2,437 | +€1,841 | +309% |
| Gross operating margin | 9900 | €30,891 | €48,358 | +€17,467 | +56.5% |
| Operating profit (loss) | 9901 | €20,066 | €12,048 | -€8,018 | -40.0% |
| Financial income | 75/76B | €49 | €6 | -€44 | -88.7% |
| Recurring financial income | 75 | €49 | €6 | -€44 | -88.7% |
| Financial charges | 65/66B | €13,243 | €8,596 | -€4,647 | -35.1% |
| Recurring financial charges | 65 | €13,243 | €8,596 | -€4,647 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | €6,873 | €3,458 | -€3,414 | -49.7% |
| Income taxes | 67/77 | - | €3,221 | +€3,221 | |
| Profit (loss) for the period | 9904 | €6,873 | €238 | -€6,635 | -96.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,873 | €238 | -€6,635 | -96.5% |
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 7 November 2026 via checked.be.