Veerle 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.
Veerle Peeters
Largest movements
- Receivables within one year +€16,722
up €16,722 (+784%), from €2,134 to €18,856
of which Trade receivables: +€18,856
- Receivables after one year +€10,000
up €10,000 (+40.0%), from €25,000 to €35,000
- Tangible fixed assets +€6,529
new in 2025: €6,529
of which Furniture and vehicles: +€5,456
- Cash +€4,867
up €4,867 (+55.1%), from €8,830 to €13,697
mainly Net result for the year (+€32,972) and Other debts (+€22,964)
- Other debts +€22,964
up €22,964 (+761%), from €3,019 to €25,983
- Profit (loss) carried forward +€8,648
no longer reported in 2025 (was -€8,648)
- Trade debts +€4,890
up €4,890 (+570%), from €858 to €5,748
- Debts after one year +€2,673
new in 2025: €2,673
- Tax, wage and social debts -€1,706
down €1,706 (-17.3%), from €9,861 to €8,155
- Gross operating margin +€52,363
up €52,363, from -€6,538 to €45,825
- Taxes +€9,519
up €9,519 (+3,248%), from €293 to €9,812
- Depreciation +€1,037
new in 2025: €1,037
- Other operating charges +€597
up €597 (+52.2%), from €1,144 to €1,741
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 | €37,353 | €75,525 | +€38,172 | +102% |
| Fixed assets | 21/28 | - | €6,529 | +€6,529 | |
| Tangible fixed assets | 22/27 | - | €6,529 | +€6,529 | |
| Plant, machinery and equipment | 23 | - | €1,072 | +€1,072 | |
| Furniture and vehicles | 24 | - | €5,456 | +€5,456 | |
| Current assets | 29/58 | €37,353 | €68,997 | +€31,643 | +84.7% |
| Amounts receivable after more than one year | 29 | €25,000 | €35,000 | +€10,000 | +40.0% |
| Other amounts receivable | 291 | €25,000 | €35,000 | +€10,000 | +40.0% |
| Amounts receivable within one year | 40/41 | €2,134 | €18,856 | +€16,722 | +784% |
| Trade receivables | 40 | - | €18,856 | +€18,856 | |
| Other amounts receivable | 41 | €2,134 | - | -€2,134 | |
| Cash at bank and in hand | 54/58 | €8,830 | €13,697 | +€4,867 | +55.1% |
| Deferred charges and accrued income | 490/1 | €1,389 | €1,444 | +€54 | +3.9% |
| Total equity and liabilities | 10/49 | €37,353 | €75,525 | +€38,172 | +102% |
| Equity | 10/15 | €23,616 | €32,264 | +€8,648 | +36.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €17,264 | €17,264 | = | 0.0% |
| Distributable reserves | 133 | €17,264 | €17,264 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,648 | - | +€8,648 | |
| Amounts payable | 17/49 | €13,737 | €43,261 | +€29,524 | +215% |
| Amounts payable after more than one year | 17 | - | €2,673 | +€2,673 | |
| Financial debts | 170/4 | - | €2,673 | +€2,673 | |
| Amounts payable within one year | 42/48 | €13,737 | €40,589 | +€26,851 | +195% |
| Current portion of amounts payable after more than one year | 42 | - | €703 | +€703 | |
| Trade debts | 44 | €858 | €5,748 | +€4,890 | +570% |
| Suppliers | 440/4 | €858 | €5,748 | +€4,890 | +570% |
| Taxes, remuneration and social security | 45 | €9,861 | €8,155 | -€1,706 | -17.3% |
| Taxes | 450/3 | €9,861 | €8,155 | -€1,706 | -17.3% |
| Other amounts payable | 47/48 | €3,019 | €25,983 | +€22,964 | +761% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,037 | +€1,037 | |
| Other operating charges | 640/8 | €1,144 | €1,741 | +€597 | +52.2% |
| Gross operating margin | 9900 | -€6,538 | €45,825 | +€52,363 | |
| Operating profit (loss) | 9901 | -€7,682 | €43,047 | +€50,729 | |
| Financial income | 75/76B | €550 | €917 | +€366 | +66.6% |
| Recurring financial income | 75 | €550 | €917 | +€366 | +66.6% |
| Financial charges | 65/66B | €1,224 | €1,180 | -€44 | -3.6% |
| Recurring financial charges | 65 | €1,224 | €1,180 | -€44 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | -€8,355 | €42,784 | +€51,139 | |
| Income taxes | 67/77 | €293 | €9,812 | +€9,519 | +3,248% |
| Profit (loss) for the period | 9904 | -€8,648 | €32,972 | +€41,620 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,648 | €32,972 | +€41,620 |
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 23 October 2026 via checked.be.