VAN PEER MODE: 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.
VAN PEER MODE
Largest movements
- Cash -€126,873
down €126,873 (-23.9%), from €530,872 to €403,999
mainly Contributions, distributions and other (-€230,000) and Investment in fixed assets (net) (-€94,988)
- Stocks and contracts +€54,977
up €54,977 (+8.0%), from €687,042 to €742,019
- Tangible fixed assets +€42,961
up €42,961 (+30.2%), from €142,185 to €185,146
of which Furniture and vehicles: +€48,639
- Tax, wage and social debts -€43,052
down €43,052 (-28.0%), from €153,826 to €110,773
of which Taxes: -€57,396
- Other debts +€14,844
up €14,844 (+2.7%), from €553,088 to €567,932
- Write-downs -€150,592
down €150,592, from €150,319 to -€273
- Gross operating margin -€102,089
down €102,089 (-10.8%), from €941,733 to €839,644
- Staff costs +€64,559
up €64,559 (+14.7%), from €440,199 to €504,758
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.
Cash bridge derived
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 | €1,381,611 | €1,357,638 | -€23,973 | -1.7% |
| Fixed assets | 21/28 | €156,101 | €203,009 | +€46,908 | +30.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €142,185 | €185,146 | +€42,961 | +30.2% |
| Land and buildings | 22 | €1,548 | €40,056 | +€38,508 | +2487.8% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €612 | €49,251 | +€48,639 | +7947.4% |
| Other tangible fixed assets | 26 | €140,025 | €95,839 | -€44,185 | -31.6% |
| Financial fixed assets | 28 | €13,916 | €17,863 | +€3,947 | +28.4% |
| Current assets | 29/58 | €1,225,511 | €1,154,629 | -€70,882 | -5.8% |
| Stocks and contracts in progress | 3 | €687,042 | €742,019 | +€54,977 | +8.0% |
| Stocks | 30/36 | €687,042 | €742,019 | +€54,977 | +8.0% |
| Amounts receivable within one year | 40/41 | €5,501 | €3,544 | -€1,957 | -35.6% |
| Trade receivables | 40 | €1,480 | €625 | -€855 | -57.8% |
| Other amounts receivable | 41 | €4,021 | €2,919 | -€1,102 | -27.4% |
| Cash at bank and in hand | 54/58 | €530,872 | €403,999 | -€126,873 | -23.9% |
| Deferred charges and accrued income | 490/1 | €2,096 | €5,067 | +€2,972 | +141.8% |
| Total equity and liabilities | 10/49 | €1,381,611 | €1,357,638 | -€23,973 | -1.7% |
| Equity | 10/15 | €433,409 | €436,802 | +€3,392 | +0.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €427,209 | €430,602 | +€3,392 | +0.8% |
| Tax-exempt reserves | 132 | €130,500 | €130,500 | = | 0.0% |
| Distributable reserves | 133 | €296,709 | €300,102 | +€3,392 | +1.1% |
| Amounts payable | 17/49 | €948,202 | €920,836 | -€27,366 | -2.9% |
| Amounts payable within one year | 42/48 | €930,798 | €904,712 | -€26,087 | -2.8% |
| Trade debts | 44 | €223,884 | €226,006 | +€2,122 | +0.9% |
| Suppliers | 440/4 | €223,884 | €226,006 | +€2,122 | +0.9% |
| Taxes, remuneration and social security | 45 | €153,826 | €110,773 | -€43,052 | -28.0% |
| Taxes | 450/3 | €79,317 | €21,922 | -€57,396 | -72.4% |
| Remuneration and social security | 454/9 | €74,508 | €88,852 | +€14,343 | +19.3% |
| Other amounts payable | 47/48 | €553,088 | €567,932 | +€14,844 | +2.7% |
| Accrued charges and deferred income | 492/3 | €17,404 | €16,125 | -€1,279 | -7.3% |
| Non-recurring operating income | 76A | €389 | €1,054 | +€665 | +171.0% |
| Remuneration, social security and pensions | 62 | €440,199 | €504,758 | +€64,559 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,289 | €48,080 | +€1,790 | +3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €150,319 | -€273 | -€150,592 | |
| Other operating charges | 640/8 | €7,393 | €7,198 | -€194 | -2.6% |
| Gross operating margin | 9900 | €941,733 | €839,644 | -€102,089 | -10.8% |
| Operating profit (loss) | 9901 | €297,534 | €279,881 | -€17,653 | -5.9% |
| Financial income | 75/76B | €57,577 | €62,308 | +€4,731 | +8.2% |
| Recurring financial income | 75 | €57,577 | €62,308 | +€4,731 | +8.2% |
| Financial charges | 65/66B | €27,860 | €25,658 | -€2,202 | -7.9% |
| Recurring financial charges | 65 | €27,860 | €25,658 | -€2,202 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €327,251 | €316,531 | -€10,721 | -3.3% |
| Income taxes | 67/77 | €86,323 | €83,138 | -€3,185 | -3.7% |
| Profit (loss) for the period | 9904 | €240,928 | €233,392 | -€7,536 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €240,928 | €233,392 | -€7,536 | -3.1% |
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 12 October 2026 via checked.be.