FILIP DE POORTER: 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.
FILIP DE POORTER
Largest movements
- Stocks and contracts +€11.7m
up €11.7m (+343%), from €3.4m to €15.1m
- Receivables within one year +€2.0m
up €2.0m (+65.0%), from €3.1m to €5.2m
of which Other amounts receivable: +€1.5m
- Cash +€280,746
up €280,746 (+12.2%), from €2.3m to €2.6m
mainly Advances received (+€15.0m) and Net result for the year (+€573,309)
- Advances received +€15.0m
up €15.0m (+350%), from €4.3m to €19.3m
- Trade debts -€1.5m
down €1.5m (-78.4%), from €2.0m to €426,583
- Reserves +€573,000
up €573,000 (+2,781%), from €20,605 to €593,605
of which Distributable reserves: +€574,855
- Taxes +€61,034
up €61,034 (+28.0%), from €217,669 to €278,704
- Gross operating margin +€36,738
up €36,738 (+4.4%), from €829,226 to €865,964
- Financial income -€26,288
down €26,288 (-41.4%), from €63,554 to €37,266
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 | €9,029,514 | €23,091,380 | +€14.1m | +156% |
| Fixed assets | 21/28 | €168,791 | €213,526 | +€44,735 | +26.5% |
| Tangible fixed assets | 22/27 | €168,721 | €213,456 | +€44,735 | +26.5% |
| Furniture and vehicles | 24 | €132,176 | €181,240 | +€49,064 | +37.1% |
| Other tangible fixed assets | 26 | €36,546 | €32,217 | -€4,329 | -11.8% |
| Financial fixed assets | 28 | €69 | €69 | = | 0.0% |
| Current assets | 29/58 | €8,860,723 | €22,877,855 | +€14.0m | +158% |
| Stocks and contracts in progress | 3 | €3,407,243 | €15,094,582 | +€11.7m | +343% |
| Contracts in progress | 37 | €3,407,243 | €15,094,582 | +€11.7m | +343% |
| Amounts receivable within one year | 40/41 | €3,143,917 | €5,188,099 | +€2.0m | +65.0% |
| Trade receivables | 40 | €6,542 | €563,827 | +€557,286 | +8,519% |
| Other amounts receivable | 41 | €3,137,375 | €4,624,272 | +€1.5m | +47.4% |
| Cash at bank and in hand | 54/58 | €2,300,966 | €2,581,713 | +€280,746 | +12.2% |
| Deferred charges and accrued income | 490/1 | €8,597 | €13,460 | +€4,863 | +56.6% |
| Total equity and liabilities | 10/49 | €9,029,514 | €23,091,380 | +€14.1m | +156% |
| Equity | 10/15 | €2,675,262 | €3,071,572 | +€396,309 | +14.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | - | -€12,400 | |
| Issued capital | 100 | €18,550 | - | -€18,550 | |
| Uncalled capital | 101 | €6,150 | - | -€6,150 | |
| Reserves | 13 | €20,605 | €593,605 | +€573,000 | +2,781% |
| Non-distributable reserves | 130/1 | €1,855 | - | -€1,855 | |
| Legal reserve | 130 | €1,855 | - | -€1,855 | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | - | €574,855 | +€574,855 | |
| Profit (loss) carried forward | 14 | €2,642,257 | €2,465,567 | -€176,691 | -6.7% |
| Provisions and deferred taxes | 16 | €87,000 | €87,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €87,000 | €87,000 | = | 0.0% |
| Environmental obligations | 163 | €87,000 | €87,000 | = | 0.0% |
| Amounts payable | 17/49 | €6,267,252 | €19,932,809 | +€13.7m | +218% |
| Amounts payable within one year | 42/48 | €6,267,252 | €19,931,797 | +€13.7m | +218% |
| Trade debts | 44 | €1,970,947 | €426,583 | -€1.5m | -78.4% |
| Suppliers | 440/4 | €1,970,947 | €426,583 | -€1.5m | -78.4% |
| Advances received on contracts in progress | 46 | €4,290,895 | €19,322,642 | +€15.0m | +350% |
| Taxes, remuneration and social security | 45 | €5,410 | €5,571 | +€161 | +3.0% |
| Taxes | 450/3 | €5,074 | €4,966 | -€108 | -2.1% |
| Remuneration and social security | 454/9 | €336 | €605 | +€270 | +80.3% |
| Other amounts payable | 47/48 | - | €177,000 | +€177,000 | |
| Accrued charges and deferred income | 492/3 | - | €1,012 | +€1,012 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,652 | €41,393 | +€4,741 | +12.9% |
| Other operating charges | 640/8 | €3,679 | €3,874 | +€195 | +5.3% |
| Gross operating margin | 9900 | €829,226 | €865,964 | +€36,738 | +4.4% |
| Operating profit (loss) | 9901 | €788,896 | €820,697 | +€31,802 | +4.0% |
| Financial income | 75/76B | €63,554 | €37,266 | -€26,288 | -41.4% |
| Recurring financial income | 75 | €63,554 | €37,266 | -€26,288 | -41.4% |
| Financial charges | 65/66B | €5,555 | €5,951 | +€396 | +7.1% |
| Recurring financial charges | 65 | €5,555 | €5,951 | +€396 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | €846,895 | €852,013 | +€5,118 | +0.6% |
| Income taxes | 67/77 | €217,669 | €278,704 | +€61,034 | +28.0% |
| Profit (loss) for the period | 9904 | €629,226 | €573,309 | -€55,917 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €629,226 | €573,309 | -€55,917 | -8.9% |
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 24 October 2026 via checked.be.