Philip Dewit: 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.
Philip Dewit
Largest movements
- Tangible fixed assets -€19,607
down €19,607 (-31.1%), from €62,984 to €43,377
of which Furniture and vehicles: -€15,919
- Cash +€19,422
up €19,422 (+54.7%), from €35,520 to €54,942
mainly Depreciation (+€20,598) and Net result for the year (+€14,486)
- Receivables after one year -€11,020
down €11,020 (-82.8%), from €13,315 to €2,295
- Debts after one year -€9,100
down €9,100 (-36.3%), from €25,043 to €15,943
- Tax, wage and social debts -€3,803
down €3,803 (-28.4%), from €13,380 to €9,577
- Reserves +€2,886
up €2,886 (+6.0%), from €47,882 to €50,768
- Gross operating margin +€1,354
up €1,354 (+3.3%), from €41,621 to €42,975
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 | €140,899 | €129,260 | -€11,639 | -8.3% |
| Fixed assets | 21/28 | €62,984 | €43,377 | -€19,607 | -31.1% |
| Tangible fixed assets | 22/27 | €62,984 | €43,377 | -€19,607 | -31.1% |
| Furniture and vehicles | 24 | €56,881 | €40,961 | -€15,919 | -28.0% |
| Other tangible fixed assets | 26 | €6,103 | €2,415 | -€3,688 | -60.4% |
| Current assets | 29/58 | €77,915 | €85,883 | +€7,968 | +10.2% |
| Amounts receivable after more than one year | 29 | €13,315 | €2,295 | -€11,020 | -82.8% |
| Other amounts receivable | 291 | €13,315 | €2,295 | -€11,020 | -82.8% |
| Amounts receivable within one year | 40/41 | €11,858 | €11,167 | -€692 | -5.8% |
| Trade receivables | 40 | €11,858 | €11,132 | -€726 | -6.1% |
| Other amounts receivable | 41 | - | €35 | +€35 | |
| Current investments | 50/53 | €8,328 | €8,486 | +€158 | +1.9% |
| Cash at bank and in hand | 54/58 | €35,520 | €54,942 | +€19,422 | +54.7% |
| Deferred charges and accrued income | 490/1 | €8,894 | €8,993 | +€99 | +1.1% |
| Total equity and liabilities | 10/49 | €140,899 | €129,260 | -€11,639 | -8.3% |
| Equity | 10/15 | €89,168 | €92,054 | +€2,886 | +3.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €47,882 | €50,768 | +€2,886 | +6.0% |
| Distributable reserves | 133 | €47,882 | €50,768 | +€2,886 | +6.0% |
| Profit (loss) carried forward | 14 | €28,886 | €28,886 | = | 0.0% |
| Amounts payable | 17/49 | €51,731 | €37,206 | -€14,526 | -28.1% |
| Amounts payable after more than one year | 17 | €25,043 | €15,943 | -€9,100 | -36.3% |
| Financial debts | 170/4 | €25,043 | €15,943 | -€9,100 | -36.3% |
| Amounts payable within one year | 42/48 | €26,689 | €21,263 | -€5,426 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €8,766 | €9,100 | +€334 | +3.8% |
| Trade debts | 44 | €2,113 | €1,461 | -€652 | -30.8% |
| Suppliers | 440/4 | €2,113 | €1,461 | -€652 | -30.8% |
| Taxes, remuneration and social security | 45 | €13,380 | €9,577 | -€3,803 | -28.4% |
| Taxes | 450/3 | €13,380 | €9,577 | -€3,803 | -28.4% |
| Other amounts payable | 47/48 | €2,430 | €1,125 | -€1,305 | -53.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,648 | €20,598 | -€50 | -0.2% |
| Other operating charges | 640/8 | €992 | €1,015 | +€24 | +2.4% |
| Non-recurring operating charges | 66A | €615 | - | -€615 | |
| Gross operating margin | 9900 | €41,621 | €42,975 | +€1,354 | +3.3% |
| Operating profit (loss) | 9901 | €19,366 | €21,362 | +€1,996 | +10.3% |
| Financial income | 75/76B | €575 | €218 | -€358 | -62.2% |
| Recurring financial income | 75 | €575 | €218 | -€358 | -62.2% |
| Financial charges | 65/66B | €1,625 | €1,243 | -€382 | -23.5% |
| Recurring financial charges | 65 | €1,625 | €1,243 | -€382 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €18,316 | €20,336 | +€2,020 | +11.0% |
| Income taxes | 67/77 | €5,524 | €5,850 | +€326 | +5.9% |
| Profit (loss) for the period | 9904 | €12,792 | €14,486 | +€1,694 | +13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,792 | €14,486 | +€1,694 | +13.2% |
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 18 October 2026 via checked.be.