DELFOSSE 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.
DELFOSSE PHILIPPE
Largest movements
- Cash +€29,631
up €29,631 (+13.2%), from €223,829 to €253,461
mainly Net result for the year (+€42,722) and Debts after one year (+€23,962)
- Tangible fixed assets +€28,995
up €28,995 (+43.0%), from €67,499 to €96,494
of which Furniture and vehicles: +€30,373
- Receivables within one year -€9,047
down €9,047 (-14.7%), from €61,738 to €52,691
of which Other amounts receivable: -€17,982
- Debts after one year +€23,962
up €23,962 (+114.4%), from €20,940 to €44,902
- Current portion of long-term debt +€18,973
up €18,973 (+283.8%), from €6,686 to €25,659
- Tax, wage and social debts +€6,941
up €6,941 (+1806.3%), from €384 to €7,325
of which Taxes: +€6,941
- Other debts +€4,832
up €4,832 (+10.2%), from €47,510 to €52,342
- Gross operating margin -€17,826
down €17,826 (-9.4%), from €190,147 to €172,321
- Staff costs -€13,805
down €13,805 (-13.1%), from €105,147 to €91,342
- Depreciation +€3,567
up €3,567 (+19.9%), from €17,925 to €21,491
- Taxes -€2,169
down €2,169 (-11.6%), from €18,684 to €16,515
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 | €356,553 | €408,619 | +€52,067 | +14.6% |
| Fixed assets | 21/28 | €67,713 | €96,708 | +€28,995 | +42.8% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €67,499 | €96,494 | +€28,995 | +43.0% |
| Land and buildings | 22 | - | €18,857 | +€18,857 | |
| Plant, machinery and equipment | 23 | €4,678 | €7,588 | +€2,909 | +62.2% |
| Furniture and vehicles | 24 | €29,144 | €59,518 | +€30,373 | +104.2% |
| Other tangible fixed assets | 26 | €33,676 | €10,532 | -€23,144 | -68.7% |
| Financial fixed assets | 28 | €214 | €214 | = | 0.0% |
| Current assets | 29/58 | €288,840 | €311,911 | +€23,071 | +8.0% |
| Stocks and contracts in progress | 3 | €2,609 | €1,702 | -€907 | -34.8% |
| Stocks | 30/36 | €2,609 | €1,702 | -€907 | -34.8% |
| Amounts receivable within one year | 40/41 | €61,738 | €52,691 | -€9,047 | -14.7% |
| Trade receivables | 40 | €18,526 | €27,461 | +€8,935 | +48.2% |
| Other amounts receivable | 41 | €43,212 | €25,230 | -€17,982 | -41.6% |
| Cash at bank and in hand | 54/58 | €223,829 | €253,461 | +€29,631 | +13.2% |
| Deferred charges and accrued income | 490/1 | €663 | €4,057 | +€3,394 | +511.9% |
| Total equity and liabilities | 10/49 | €356,553 | €408,619 | +€52,067 | +14.6% |
| Equity | 10/15 | €280,834 | €277,609 | -€3,226 | -1.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €260,374 | €257,149 | -€3,226 | -1.2% |
| Distributable reserves | 133 | €260,374 | €257,149 | -€3,226 | -1.2% |
| Amounts payable | 17/49 | €75,718 | €131,011 | +€55,292 | +73.0% |
| Amounts payable after more than one year | 17 | €20,940 | €44,902 | +€23,962 | +114.4% |
| Financial debts | 170/4 | €20,940 | €44,902 | +€23,962 | +114.4% |
| Amounts payable within one year | 42/48 | €54,778 | €86,109 | +€31,331 | +57.2% |
| Current portion of amounts payable after more than one year | 42 | €6,686 | €25,659 | +€18,973 | +283.8% |
| Trade debts | 44 | €198 | €783 | +€585 | +296.0% |
| Suppliers | 440/4 | €198 | €783 | +€585 | +296.0% |
| Taxes, remuneration and social security | 45 | €384 | €7,325 | +€6,941 | +1806.3% |
| Taxes | 450/3 | €384 | €7,325 | +€6,941 | +1806.3% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €47,510 | €52,342 | +€4,832 | +10.2% |
| Non-recurring operating income | 76A | - | €9,917 | +€9,917 | |
| Remuneration, social security and pensions | 62 | €105,147 | €91,342 | -€13,805 | -13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,925 | €21,491 | +€3,567 | +19.9% |
| Other operating charges | 640/8 | €613 | €1,055 | +€442 | +72.2% |
| Gross operating margin | 9900 | €190,147 | €172,321 | -€17,826 | -9.4% |
| Operating profit (loss) | 9901 | €66,462 | €58,432 | -€8,030 | -12.1% |
| Financial income | 75/76B | €3,569 | €4,125 | +€555 | +15.6% |
| Recurring financial income | 75 | €3,569 | €4,125 | +€555 | +15.6% |
| Financial charges | 65/66B | €2,685 | €3,320 | +€635 | +23.7% |
| Recurring financial charges | 65 | €2,685 | €3,320 | +€635 | +23.7% |
| Profit (loss) for the period before taxes | 9903 | €67,347 | €59,237 | -€8,110 | -12.0% |
| Income taxes | 67/77 | €18,684 | €16,515 | -€2,169 | -11.6% |
| Profit (loss) for the period | 9904 | €48,663 | €42,722 | -€5,941 | -12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €48,663 | €42,722 | -€5,941 | -12.2% |
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 10 October 2026 via checked.be.