ETS PHILIPPE DECORATION: 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.
ETS PHILIPPE DECORATION
Largest movements
- Cash +€63,458
up €63,458 (+255%), from €24,898 to €88,356
mainly Net result for the year (+€26,329) and Receivables within one year (+€23,880)
- Receivables within one year -€23,880
down €23,880 (-67.5%), from €35,360 to €11,480
of which Trade receivables: -€16,227
- Tangible fixed assets -€20,503
down €20,503 (-24.6%), from €83,223 to €62,720
of which Furniture and vehicles: -€20,263
- Reserves +€52,294
new in 2025: €52,294
- Profit (loss) carried forward -€25,966
no longer reported in 2025 (was €25,966)
- Debts after one year -€14,937
down €14,937 (-31.2%), from €47,814 to €32,877
- Other debts +€10,280
up €10,280 (+28.5%), from €36,102 to €46,382
- Tax, wage and social debts -€3,946
down €3,946 (-48.9%), from €8,063 to €4,117
of which Taxes: -€5,230
- Staff costs -€8,548
down €8,548 (-15.3%), from €55,911 to €47,363
- Gross operating margin +€8,290
up €8,290 (+8.5%), from €97,196 to €105,486
- Taxes +€3,876
up €3,876 (+94.7%), from €4,094 to €7,970
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 | €144,050 | €162,604 | +€18,554 | +12.9% |
| Fixed assets | 21/28 | €83,223 | €62,720 | -€20,503 | -24.6% |
| Tangible fixed assets | 22/27 | €83,223 | €62,720 | -€20,503 | -24.6% |
| Plant, machinery and equipment | 23 | €1,077 | €838 | -€239 | -22.2% |
| Furniture and vehicles | 24 | €82,145 | €61,882 | -€20,263 | -24.7% |
| Current assets | 29/58 | €60,827 | €99,884 | +€39,057 | +64.2% |
| Amounts receivable within one year | 40/41 | €35,360 | €11,480 | -€23,880 | -67.5% |
| Trade receivables | 40 | €19,887 | €3,660 | -€16,227 | -81.6% |
| Other amounts receivable | 41 | €15,474 | €7,820 | -€7,654 | -49.5% |
| Cash at bank and in hand | 54/58 | €24,898 | €88,356 | +€63,458 | +255% |
| Deferred charges and accrued income | 490/1 | €569 | €48 | -€520 | -91.5% |
| Total equity and liabilities | 10/49 | €144,050 | €162,604 | +€18,554 | +12.9% |
| Equity | 10/15 | €28,966 | €55,294 | +€26,329 | +90.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €52,294 | +€52,294 | |
| Distributable reserves | 133 | - | €52,294 | +€52,294 | |
| Profit (loss) carried forward | 14 | €25,966 | - | -€25,966 | |
| Amounts payable | 17/49 | €115,084 | €107,310 | -€7,775 | -6.8% |
| Amounts payable after more than one year | 17 | €47,814 | €32,877 | -€14,937 | -31.2% |
| Financial debts | 170/4 | €47,814 | €32,877 | -€14,937 | -31.2% |
| Amounts payable within one year | 42/48 | €67,271 | €74,433 | +€7,162 | +10.6% |
| Current portion of amounts payable after more than one year | 42 | €16,805 | €14,937 | -€1,869 | -11.1% |
| Trade debts | 44 | €6,301 | €8,997 | +€2,696 | +42.8% |
| Suppliers | 440/4 | €6,301 | €8,997 | +€2,696 | +42.8% |
| Taxes, remuneration and social security | 45 | €8,063 | €4,117 | -€3,946 | -48.9% |
| Taxes | 450/3 | €6,000 | €770 | -€5,230 | -87.2% |
| Remuneration and social security | 454/9 | €2,063 | €3,348 | +€1,285 | +62.3% |
| Other amounts payable | 47/48 | €36,102 | €46,382 | +€10,280 | +28.5% |
| Remuneration, social security and pensions | 62 | €55,911 | €47,363 | -€8,548 | -15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,474 | €20,503 | +€1,028 | +5.3% |
| Other operating charges | 640/8 | €319 | €321 | +€2 | +0.6% |
| Gross operating margin | 9900 | €97,196 | €105,486 | +€8,290 | +8.5% |
| Operating profit (loss) | 9901 | €21,492 | €37,300 | +€15,808 | +73.6% |
| Financial income | 75/76B | - | €87 | +€87 | |
| Recurring financial income | 75 | - | €87 | +€87 | |
| Financial charges | 65/66B | €2,662 | €3,087 | +€425 | +16.0% |
| Recurring financial charges | 65 | €2,662 | €3,087 | +€425 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | €18,830 | €34,299 | +€15,469 | +82.2% |
| Income taxes | 67/77 | €4,094 | €7,970 | +€3,876 | +94.7% |
| Profit (loss) for the period | 9904 | €14,736 | €26,329 | +€11,593 | +78.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,736 | €26,329 | +€11,593 | +78.7% |
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 16 October 2026 via checked.be.