A.J.PHILIPPE: 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.
A.J.PHILIPPE
Largest movements
- Cash +€136,930
up €136,930 (+46.8%), from €292,664 to €429,594
mainly Current investments (+€80,000) and Investment in fixed assets (net) (+€26,242)
- Current investments -€80,000
down €80,000 (-29.8%), from €268,031 to €188,031
- Tangible fixed assets -€20,682
down €20,682 (-99.1%), from €20,880 to €198
of which Land and buildings: -€14,742
- Financial fixed assets -€11,500
down €11,500 (-100%), from €11,500 to €0
- Reserves +€21,676
up €21,676 (+9.9%), from €218,602 to €240,278
of which Distributable reserves: +€21,676
- Gross operating margin +€18,062
up €18,062 (+66.6%), from €27,104 to €45,165
- Financial income +€7,151
up €7,151 (+175%), from €4,090 to €11,241
- Taxes +€6,914
up €6,914 (+124%), from €5,559 to €12,474
- Depreciation -€6,589
down €6,589 (-52.6%), from €12,529 to €5,940
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 | €594,257 | €620,419 | +€26,163 | +4.4% |
| Fixed assets | 21/28 | €32,380 | €198 | -€32,182 | -99.4% |
| Tangible fixed assets | 22/27 | €20,880 | €198 | -€20,682 | -99.1% |
| Land and buildings | 22 | €14,742 | €0 | -€14,742 | -100% |
| Plant, machinery and equipment | 23 | €600 | €198 | -€402 | -67.0% |
| Furniture and vehicles | 24 | €5,538 | €0 | -€5,538 | -100% |
| Financial fixed assets | 28 | €11,500 | €0 | -€11,500 | -100% |
| Current assets | 29/58 | €561,877 | €620,221 | +€58,344 | +10.4% |
| Amounts receivable within one year | 40/41 | €0 | €1,367 | +€1,367 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | - | €1,367 | +€1,367 | |
| Current investments | 50/53 | €268,031 | €188,031 | -€80,000 | -29.8% |
| Cash at bank and in hand | 54/58 | €292,664 | €429,594 | +€136,930 | +46.8% |
| Deferred charges and accrued income | 490/1 | €1,181 | €1,229 | +€48 | +4.0% |
| Total equity and liabilities | 10/49 | €594,257 | €620,419 | +€26,163 | +4.4% |
| Equity | 10/15 | €585,238 | €606,914 | +€21,676 | +3.7% |
| Contributions | 10/11 | €366,637 | €366,637 | = | 0.0% |
| Reserves | 13 | €218,602 | €240,278 | +€21,676 | +9.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €213,602 | €235,278 | +€21,676 | +10.1% |
| Amounts payable | 17/49 | €9,019 | €13,505 | +€4,486 | +49.7% |
| Amounts payable within one year | 42/48 | €9,019 | €13,487 | +€4,468 | +49.5% |
| Trade debts | 44 | €303 | €1,618 | +€1,315 | +434% |
| Suppliers | 440/4 | €303 | €1,618 | +€1,315 | +434% |
| Taxes, remuneration and social security | 45 | €5,950 | €9,103 | +€3,153 | +53.0% |
| Taxes | 450/3 | €5,950 | €9,103 | +€3,153 | +53.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,766 | €2,766 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | €18 | +€18 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,529 | €5,940 | -€6,589 | -52.6% |
| Other operating charges | 640/8 | €1,630 | €1,302 | -€328 | -20.1% |
| Non-recurring operating charges | 66A | - | €14,742 | +€14,742 | |
| Gross operating margin | 9900 | €27,104 | €45,165 | +€18,062 | +66.6% |
| Operating profit (loss) | 9901 | €12,945 | €23,181 | +€10,236 | +79.1% |
| Financial income | 75/76B | €4,090 | €11,241 | +€7,151 | +175% |
| Recurring financial income | 75 | €4,090 | €11,241 | +€7,151 | +175% |
| Financial charges | 65/66B | €84 | €272 | +€188 | +224% |
| Recurring financial charges | 65 | €84 | €272 | +€188 | +224% |
| Profit (loss) for the period before taxes | 9903 | €16,951 | €34,150 | +€17,199 | +101% |
| Income taxes | 67/77 | €5,559 | €12,474 | +€6,914 | +124% |
| Profit (loss) for the period | 9904 | €11,392 | €21,676 | +€10,284 | +90.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,392 | €21,676 | +€10,284 | +90.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.