PH.DESCHEEMAECKER: 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.
PH.DESCHEEMAECKER
Largest movements
- Receivables within one year -€8,899
down €8,899 (-17.3%), from €51,347 to €42,448
of which Trade receivables: -€5,568
- Cash +€8,833
up €8,833 (+93.6%), from €9,433 to €18,266
mainly Receivables within one year (+€8,899) and Net result for the year (+€6,661)
- Tangible fixed assets +€2,424
up €2,424 (+273%), from €887 to €3,311
- Reserves +€6,600
up €6,600 (+355%), from €1,860 to €8,460
of which Distributable reserves: +€6,600
- Short-term financial debts -€6,383
no longer reported in 2025 (was €6,383)
- Trade debts -€4,817
down €4,817 (-76.8%), from €6,274 to €1,457
- Other debts +€2,028
up €2,028 (+50.1%), from €4,049 to €6,077
- Tax, wage and social debts +€1,887
up €1,887 (+14.3%), from €13,200 to €15,087
of which Taxes: +€1,828
- Gross operating margin +€2,830
up €2,830 (+11.5%), from €24,528 to €27,358
- Taxes +€1,378
up €1,378 (+60.9%), from €2,263 to €3,641
- Staff costs -€1,091
down €1,091 (-6.4%), from €16,954 to €15,863
- Depreciation +€576
up €576 (+368%), from €157 to €733
- Financial income +€575
up €575 (+39.4%), from €1,462 to €2,037
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 | €61,667 | €64,025 | +€2,358 | +3.8% |
| Fixed assets | 21/28 | €887 | €3,311 | +€2,424 | +273% |
| Tangible fixed assets | 22/27 | €887 | €3,311 | +€2,424 | +273% |
| Furniture and vehicles | 24 | €887 | €3,311 | +€2,424 | +273% |
| Current assets | 29/58 | €60,780 | €60,714 | -€66 | -0.1% |
| Amounts receivable within one year | 40/41 | €51,347 | €42,448 | -€8,899 | -17.3% |
| Trade receivables | 40 | €12,084 | €6,515 | -€5,568 | -46.1% |
| Other amounts receivable | 41 | €39,263 | €35,933 | -€3,330 | -8.5% |
| Cash at bank and in hand | 54/58 | €9,433 | €18,266 | +€8,833 | +93.6% |
| Total equity and liabilities | 10/49 | €61,667 | €64,025 | +€2,358 | +3.8% |
| Equity | 10/15 | €31,762 | €38,423 | +€6,661 | +21.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €8,460 | +€6,600 | +355% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €6,600 | +€6,600 | |
| Profit (loss) carried forward | 14 | €17,502 | €17,563 | +€61 | +0.3% |
| Amounts payable | 17/49 | €29,905 | €25,602 | -€4,303 | -14.4% |
| Amounts payable after more than one year | 17 | - | €1,859 | +€1,859 | |
| Financial debts | 170/4 | - | €1,859 | +€1,859 | |
| Amounts payable within one year | 42/48 | €29,905 | €23,743 | -€6,162 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | - | €1,122 | +€1,122 | |
| Financial debts | 43 | €6,383 | - | -€6,383 | |
| Credit institutions | 430/8 | €6,383 | - | -€6,383 | |
| Trade debts | 44 | €6,274 | €1,457 | -€4,817 | -76.8% |
| Suppliers | 440/4 | €6,274 | €1,457 | -€4,817 | -76.8% |
| Taxes, remuneration and social security | 45 | €13,200 | €15,087 | +€1,887 | +14.3% |
| Taxes | 450/3 | €10,813 | €12,641 | +€1,828 | +16.9% |
| Remuneration and social security | 454/9 | €2,387 | €2,446 | +€60 | +2.5% |
| Other amounts payable | 47/48 | €4,049 | €6,077 | +€2,028 | +50.1% |
| Non-recurring operating income | 76A | - | €160 | +€160 | |
| Remuneration, social security and pensions | 62 | €16,954 | €15,863 | -€1,091 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €157 | €733 | +€576 | +368% |
| Other operating charges | 640/8 | €1,311 | €1,761 | +€450 | +34.3% |
| Non-recurring operating charges | 66A | €249 | - | -€249 | |
| Gross operating margin | 9900 | €24,528 | €27,358 | +€2,830 | +11.5% |
| Operating profit (loss) | 9901 | €5,857 | €9,002 | +€3,144 | +53.7% |
| Financial income | 75/76B | €1,462 | €2,037 | +€575 | +39.4% |
| Recurring financial income | 75 | €1,462 | €2,037 | +€575 | +39.4% |
| Financial charges | 65/66B | €1,183 | €737 | -€447 | -37.7% |
| Recurring financial charges | 65 | €1,183 | €737 | -€447 | -37.7% |
| Profit (loss) for the period before taxes | 9903 | €6,136 | €10,302 | +€4,166 | +67.9% |
| Income taxes | 67/77 | €2,263 | €3,641 | +€1,378 | +60.9% |
| Profit (loss) for the period | 9904 | €3,873 | €6,661 | +€2,788 | +72.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,873 | €6,661 | +€2,788 | +72.0% |
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 14 October 2026 via checked.be.