De Clercq 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.
De Clercq Philippe
Largest movements
- Receivables within one year -€69,897
down €69,897 (-34.8%), from €200,865 to €130,968
of which Trade receivables: -€75,711
- Stocks and contracts +€64,432
up €64,432 (+146.7%), from €43,919 to €108,351
- Cash +€28,178
up €28,178 (+3.1%), from €913,376 to €941,554
mainly Net result for the year (+€129,987) and Receivables within one year (+€69,897)
- Reserves +€99,987
up €99,987 (+7.7%), from €1.3m to €1.4m
of which Distributable reserves: +€99,987
- Other debts -€30,000
down €30,000 (-50.0%), from €60,000 to €30,000
- Tax, wage and social debts -€23,434
down €23,434 (-43.9%), from €53,336 to €29,902
- Gross operating margin -€90,257
down €90,257 (-31.6%), from €285,930 to €195,672
- Taxes -€20,963
down €20,963 (-26.9%), from €77,996 to €57,033
- Financial income +€11,222
up €11,222 (+100.7%), from €11,148 to €22,370
- Depreciation +€4,204
up €4,204 (+19.9%), from €21,111 to €25,315
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 | €1,462,719 | €1,494,178 | +€31,459 | +2.2% |
| Fixed assets | 21/28 | €298,548 | €306,881 | +€8,333 | +2.8% |
| Tangible fixed assets | 22/27 | €298,278 | €306,611 | +€8,333 | +2.8% |
| Land and buildings | 22 | €277,726 | €268,576 | -€9,150 | -3.3% |
| Plant, machinery and equipment | 23 | €7,463 | €4,629 | -€2,833 | -38.0% |
| Furniture and vehicles | 24 | €12,984 | €33,405 | +€20,421 | +157.3% |
| Other tangible fixed assets | 26 | €105 | - | -€105 | |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €1,164,171 | €1,187,297 | +€23,126 | +2.0% |
| Stocks and contracts in progress | 3 | €43,919 | €108,351 | +€64,432 | +146.7% |
| Stocks | 30/36 | €43,919 | €108,351 | +€64,432 | +146.7% |
| Amounts receivable within one year | 40/41 | €200,865 | €130,968 | -€69,897 | -34.8% |
| Trade receivables | 40 | €197,346 | €121,635 | -€75,711 | -38.4% |
| Other amounts receivable | 41 | €3,519 | €9,334 | +€5,814 | +165.2% |
| Cash at bank and in hand | 54/58 | €913,376 | €941,554 | +€28,178 | +3.1% |
| Deferred charges and accrued income | 490/1 | €6,011 | €6,424 | +€413 | +6.9% |
| Total equity and liabilities | 10/49 | €1,462,719 | €1,494,178 | +€31,459 | +2.2% |
| Equity | 10/15 | €1,318,455 | €1,418,442 | +€99,987 | +7.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,299,863 | €1,399,850 | +€99,987 | +7.7% |
| Tax-exempt reserves | 132 | €110,593 | €110,593 | = | 0.0% |
| Distributable reserves | 133 | €1,189,270 | €1,289,257 | +€99,987 | +8.4% |
| Amounts payable | 17/49 | €144,264 | €75,737 | -€68,528 | -47.5% |
| Amounts payable within one year | 42/48 | €142,778 | €74,650 | -€68,128 | -47.7% |
| Trade debts | 44 | €29,442 | €14,748 | -€14,694 | -49.9% |
| Suppliers | 440/4 | €29,442 | €14,748 | -€14,694 | -49.9% |
| Taxes, remuneration and social security | 45 | €53,336 | €29,902 | -€23,434 | -43.9% |
| Taxes | 450/3 | €53,336 | €29,902 | -€23,434 | -43.9% |
| Other amounts payable | 47/48 | €60,000 | €30,000 | -€30,000 | -50.0% |
| Accrued charges and deferred income | 492/3 | €1,486 | €1,086 | -€400 | -26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,111 | €25,315 | +€4,204 | +19.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€684 | - | +€684 | |
| Other operating charges | 640/8 | €4,248 | €4,342 | +€95 | +2.2% |
| Gross operating margin | 9900 | €285,930 | €195,672 | -€90,257 | -31.6% |
| Operating profit (loss) | 9901 | €261,255 | €166,015 | -€95,240 | -36.5% |
| Financial income | 75/76B | €11,148 | €22,370 | +€11,222 | +100.7% |
| Recurring financial income | 75 | €11,148 | €22,370 | +€11,222 | +100.7% |
| Financial charges | 65/66B | €1,160 | €1,365 | +€206 | +17.7% |
| Recurring financial charges | 65 | €1,160 | €1,365 | +€206 | +17.7% |
| Profit (loss) for the period before taxes | 9903 | €271,244 | €187,020 | -€84,223 | -31.1% |
| Income taxes | 67/77 | €77,996 | €57,033 | -€20,963 | -26.9% |
| Profit (loss) for the period | 9904 | €193,248 | €129,987 | -€63,261 | -32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €193,248 | €129,987 | -€63,261 | -32.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.