PHILIP CARPENTIER: 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.
What changed
PHILIP CARPENTIER
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€17,900
2024 · €80,824-€98,723
Equity
€341,868
2024 · €467,768-€125,900
Cash
€29,231
2024 · €34,765-€5,535
Balance sheet total
€1.4m
2024 · €1.4m-€55,571
Largest movements
Assets
- Tangible fixed assets -€52,823
down €52,823 (-5.4%), from €970,478 to €917,655
of which Land and buildings: -€31,821
- Receivables within one year +€20,352
up €20,352 (+167%), from €12,200 to €32,552
of which Other amounts receivable: +€18,296
- Deferred charges and accrued income -€17,564
down €17,564 (-75.0%), from €23,421 to €5,857
Equity and liabilities
- Other debts +€180,266
up €180,266 (+94.8%), from €190,194 to €370,460
- Reserves -€108,000
down €108,000 (-26.1%), from €413,591 to €305,591
of which Distributable reserves: -€108,000
- Advances received -€55,180
down €55,180 (-100%), from €55,180 to €0
- Debts after one year -€54,396
down €54,396 (-8.5%), from €642,079 to €587,682
- Profit (loss) carried forward -€17,900
down €17,900 (-42.8%), from €41,776 to €23,877
Income statement
- Services and other goods +€89,944
up €89,944 (+54.3%), from €165,788 to €255,732
- Turnover -€38,061
down €38,061 (-11.3%), from €338,061 to €300,000
- Taxes -€16,959
down €16,959 (-98.4%), from €17,227 to €268
- Financial charges +€5,609
up €5,609 (+21.4%), from €26,185 to €31,795
- Other operating income +€4,925
up €4,925 (+24.7%), from €19,903 to €24,828
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.
Result 2024
€80,824
Turnover
-€38,061
Other operating income
+€4,925
Services and other goods
-€89,944
Depreciation
-€1,018
Other operating charges
+€1,931
Other operating items
+€11,000
Financial income
+€1,095
Financial charges
-€5,609
Taxes
+€16,959
Result 2025
-€17,900
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€166,655
Investment
-€1,634
Financing
-€170,556
Cash 2024
€34,765
From operations (derived)
+€166,655
Net result for the year
-€17,900
Depreciation
+€54,457
Receivables within one year
-€20,352
Deferred charges and accrued income
+€17,564
Trade debts
+€456
Tax, wage and social debts
-€1,325
Advances received
-€55,180
Other debts
+€180,266
Accrued charges and deferred income
+€8,668
Investment (derived)
-€1,634
Investment in fixed assets (net)
-€1,634
Financing
-€170,556
Debts after one year
-€54,396
Current portion of long-term debt
-€8,160
Contributions, distributions and other
-€108,000
Cash 2025
€29,231
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,440,726 | €1,385,155 | -€55,571 | -3.9% |
| Fixed assets | 21/28 | €1,229,778 | €1,176,955 | -€52,823 | -4.3% |
| Tangible fixed assets | 22/27 | €970,478 | €917,655 | -€52,823 | -5.4% |
| Land and buildings | 22 | €891,551 | €859,730 | -€31,821 | -3.6% |
| Furniture and vehicles | 24 | €71,900 | €51,209 | -€20,691 | -28.8% |
| Other tangible fixed assets | 26 | €7,027 | €6,716 | -€311 | -4.4% |
| Financial fixed assets | 28 | €259,300 | €259,300 | = | 0.0% |
| Affiliated companies | 280/1 | €258,000 | €258,000 | = | 0.0% |
| Participating interests | 280 | €258,000 | €258,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,300 | €1,300 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,300 | €1,300 | = | 0.0% |
| Current assets | 29/58 | €210,948 | €208,201 | -€2,747 | -1.3% |
| Amounts receivable after more than one year | 29 | €140,562 | €140,562 | = | 0.0% |
| Other amounts receivable | 291 | €140,562 | €140,562 | = | 0.0% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €12,200 | €32,552 | +€20,352 | +167% |
| Trade receivables | 40 | €109 | €2,165 | +€2,056 | +1,888% |
| Other amounts receivable | 41 | €12,091 | €30,387 | +€18,296 | +151% |
| Cash at bank and in hand | 54/58 | €34,765 | €29,231 | -€5,535 | -15.9% |
| Deferred charges and accrued income | 490/1 | €23,421 | €5,857 | -€17,564 | -75.0% |
| Total equity and liabilities | 10/49 | €1,440,726 | €1,385,155 | -€55,571 | -3.9% |
| Equity | 10/15 | €467,768 | €341,868 | -€125,900 | -26.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €413,591 | €305,591 | -€108,000 | -26.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €413,591 | €305,591 | -€108,000 | -26.1% |
| Profit (loss) carried forward | 14 | €41,776 | €23,877 | -€17,900 | -42.8% |
| Amounts payable | 17/49 | €972,958 | €1,043,287 | +€70,329 | +7.2% |
| Amounts payable after more than one year | 17 | €642,079 | €587,682 | -€54,396 | -8.5% |
| Financial debts | 170/4 | €642,079 | €587,682 | -€54,396 | -8.5% |
| Credit institutions | 173 | €642,079 | €587,682 | -€54,396 | -8.5% |
| Amounts payable within one year | 42/48 | €330,880 | €446,937 | +€116,057 | +35.1% |
| Current portion of amounts payable after more than one year | 42 | €62,556 | €54,396 | -€8,160 | -13.0% |
| Trade debts | 44 | €2,599 | €3,055 | +€456 | +17.5% |
| Suppliers | 440/4 | €2,599 | €3,055 | +€456 | +17.5% |
| Advances received on contracts in progress | 46 | €55,180 | €0 | -€55,180 | -100% |
| Taxes, remuneration and social security | 45 | €20,351 | €19,026 | -€1,325 | -6.5% |
| Taxes | 450/3 | €20,351 | €19,026 | -€1,325 | -6.5% |
| Other amounts payable | 47/48 | €190,194 | €370,460 | +€180,266 | +94.8% |
| Accrued charges and deferred income | 492/3 | - | €8,668 | +€8,668 | |
| Operating income | 70/76A | €357,965 | €324,828 | -€33,136 | -9.3% |
| Turnover | 70 | €338,061 | €300,000 | -€38,061 | -11.3% |
| Other operating income | 74 | €19,903 | €24,828 | +€4,925 | +24.7% |
| Operating charges | 60/66A | €237,383 | €315,415 | +€78,032 | +32.9% |
| Services and other goods | 61 | €165,788 | €255,732 | +€89,944 | +54.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,438 | €54,457 | +€1,018 | +1.9% |
| Other operating charges | 640/8 | €7,157 | €5,226 | -€1,931 | -27.0% |
| Non-recurring operating charges | 66A | €11,000 | €0 | -€11,000 | -100% |
| Operating profit (loss) | 9901 | €120,582 | €9,413 | -€111,168 | -92.2% |
| Financial income | 75/76B | €3,655 | €4,749 | +€1,095 | +30.0% |
| Recurring financial income | 75 | €3,655 | €4,749 | +€1,095 | +30.0% |
| Income from current assets | 751 | €3,655 | €4,749 | +€1,095 | +30.0% |
| Financial charges | 65/66B | €26,185 | €31,795 | +€5,609 | +21.4% |
| Recurring financial charges | 65 | €26,185 | €31,795 | +€5,609 | +21.4% |
| Debt charges | 650 | €25,939 | €31,574 | +€5,635 | +21.7% |
| Other financial charges | 652/9 | €246 | €221 | -€25 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €98,051 | -€17,632 | -€115,683 | |
| Income taxes | 67/77 | €17,227 | €268 | -€16,959 | -98.4% |
| Taxes | 670/3 | €17,227 | €268 | -€16,959 | -98.4% |
| Profit (loss) for the period | 9904 | €80,824 | -€17,900 | -€98,723 | |
| Profit (loss) for the period to be appropriated | 9905 | €80,824 | -€17,900 | -€98,723 |
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 26 October 2026 via checked.be.