DR. PHILIPPE LEIRE: 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.
DR. PHILIPPE LEIRE
Largest movements
- Receivables within one year +€238,017
up €238,017 (+81.8%), from €291,009 to €529,026
of which Other amounts receivable: +€157,851
- Cash +€87,486
up €87,486 (+51.4%), from €170,129 to €257,615
mainly Net result for the year (+€300,628) and Depreciation (+€32,643)
- Tangible fixed assets -€51,848
down €51,848 (-33.5%), from €154,599 to €102,751
of which Furniture and vehicles: -€61,066
- Deferred charges and accrued income -€17,984
down €17,984 (-45.6%), from €39,471 to €21,487
- Profit (loss) carried forward +€300,628
up €300,628 (+63.2%), from €475,363 to €775,991
- Current portion of long-term debt -€26,373
down €26,373 (-68.0%), from €38,767 to €12,395
- Debts after one year -€24,241
down €24,241 (-62.1%), from €39,010 to €14,769
- Tax, wage and social debts +€11,769
up €11,769 (+13.9%), from €84,703 to €96,472
- Gross operating margin +€19,527
up €19,527 (+4.9%), from €394,606 to €414,133
- Financial income +€18,651
up €18,651 (+396%), from €4,713 to €23,363
- Taxes +€9,316
up €9,316 (+10.9%), from €85,105 to €94,421
- Depreciation -€4,370
down €4,370 (-11.8%), from €37,013 to €32,643
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 | €655,208 | €910,880 | +€255,672 | +39.0% |
| Fixed assets | 21/28 | €154,599 | €102,751 | -€51,848 | -33.5% |
| Tangible fixed assets | 22/27 | €154,599 | €102,751 | -€51,848 | -33.5% |
| Land and buildings | 22 | €8,822 | - | -€8,822 | |
| Plant, machinery and equipment | 23 | €1,876 | €1,667 | -€208 | -11.1% |
| Furniture and vehicles | 24 | €143,902 | €82,836 | -€61,066 | -42.4% |
| Other tangible fixed assets | 26 | - | €18,248 | +€18,248 | |
| Current assets | 29/58 | €500,609 | €808,129 | +€307,520 | +61.4% |
| Amounts receivable within one year | 40/41 | €291,009 | €529,026 | +€238,017 | +81.8% |
| Trade receivables | 40 | - | €80,166 | +€80,166 | |
| Other amounts receivable | 41 | €291,009 | €448,860 | +€157,851 | +54.2% |
| Cash at bank and in hand | 54/58 | €170,129 | €257,615 | +€87,486 | +51.4% |
| Deferred charges and accrued income | 490/1 | €39,471 | €21,487 | -€17,984 | -45.6% |
| Total equity and liabilities | 10/49 | €655,208 | €910,880 | +€255,672 | +39.0% |
| Equity | 10/15 | €480,363 | €780,991 | +€300,628 | +62.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €475,363 | €775,991 | +€300,628 | +63.2% |
| Amounts payable | 17/49 | €174,845 | €129,889 | -€44,956 | -25.7% |
| Amounts payable after more than one year | 17 | €39,010 | €14,769 | -€24,241 | -62.1% |
| Financial debts | 170/4 | €39,010 | €14,769 | -€24,241 | -62.1% |
| Amounts payable within one year | 42/48 | €135,835 | €115,120 | -€20,715 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | €38,767 | €12,395 | -€26,373 | -68.0% |
| Trade debts | 44 | €12,364 | €6,253 | -€6,112 | -49.4% |
| Suppliers | 440/4 | €12,364 | €6,253 | -€6,112 | -49.4% |
| Taxes, remuneration and social security | 45 | €84,703 | €96,472 | +€11,769 | +13.9% |
| Taxes | 450/3 | €84,703 | €96,472 | +€11,769 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,013 | €32,643 | -€4,370 | -11.8% |
| Other operating charges | 640/8 | €995 | €971 | -€24 | -2.4% |
| Non-recurring operating charges | 66A | - | €5,222 | +€5,222 | |
| Gross operating margin | 9900 | €394,606 | €414,133 | +€19,527 | +4.9% |
| Operating profit (loss) | 9901 | €356,598 | €375,298 | +€18,700 | +5.2% |
| Financial income | 75/76B | €4,713 | €23,363 | +€18,651 | +396% |
| Recurring financial income | 75 | €4,713 | €23,363 | +€18,651 | +396% |
| Financial charges | 65/66B | €4,213 | €3,612 | -€601 | -14.3% |
| Recurring financial charges | 65 | €4,213 | €3,612 | -€601 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €357,098 | €395,049 | +€37,951 | +10.6% |
| Income taxes | 67/77 | €85,105 | €94,421 | +€9,316 | +10.9% |
| Profit (loss) for the period | 9904 | €271,992 | €300,628 | +€28,636 | +10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €271,992 | €300,628 | +€28,636 | +10.5% |
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 30 October 2026 via checked.be.