PHILIP HELSEN: what changed
PHILIP HELSEN
Largest movements
- Tangible fixed assets -€32,385
down €32,385 (-8.6%), from €376,429 to €344,044
of which Furniture and vehicles: -€22,729
- Deferred charges and accrued income +€27,084
up €27,084 (+735%), from €3,685 to €30,769
- Receivables within one year +€13,021
up €13,021 (+11.5%), from €113,228 to €126,248
of which Trade receivables: +€13,649
- Cash +€8,095
up €8,095 (+7.4%), from €109,724 to €117,819
mainly Depreciation (+€65,487) and Net result for the year (+€54,200)
- Reserves +€54,200
up €54,200 (+65.2%), from €83,108 to €137,308
- Tax, wage and social debts -€24,931
down €24,931 (-32.5%), from €76,698 to €51,767
of which Taxes: -€16,519
- Trade debts -€14,756
down €14,756 (-34.3%), from €43,058 to €28,302
- Depreciation +€28,200
up €28,200 (+75.6%), from €37,288 to €65,487
- Gross operating margin +€23,272
up €23,272 (+8.0%), from €290,706 to €313,978
- Staff costs +€17,014
up €17,014 (+12.4%), from €137,666 to €154,679
- Taxes -€8,842
down €8,842 (-25.2%), from €35,092 to €26,250
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €603,066 | €618,881 | +€15,815 | +2.6% |
| Fixed assets | 21/28 | €376,429 | €344,044 | -€32,385 | -8.6% |
| Tangible fixed assets | 22/27 | €376,429 | €344,044 | -€32,385 | -8.6% |
| Land and buildings | 22 | €17,070 | €13,539 | -€3,531 | -20.7% |
| Plant, machinery and equipment | 23 | €4,041 | €7,356 | +€3,315 | +82.0% |
| Furniture and vehicles | 24 | €185,393 | €162,664 | -€22,729 | -12.3% |
| Leasing and similar rights | 25 | €169,925 | €160,485 | -€9,440 | -5.6% |
| Current assets | 29/58 | €226,637 | €274,836 | +€48,199 | +21.3% |
| Amounts receivable within one year | 40/41 | €113,228 | €126,248 | +€13,021 | +11.5% |
| Trade receivables | 40 | €18,322 | €31,971 | +€13,649 | +74.5% |
| Other amounts receivable | 41 | €94,906 | €94,277 | -€629 | -0.7% |
| Cash at bank and in hand | 54/58 | €109,724 | €117,819 | +€8,095 | +7.4% |
| Deferred charges and accrued income | 490/1 | €3,685 | €30,769 | +€27,084 | +735% |
| Total equity and liabilities | 10/49 | €603,066 | €618,881 | +€15,815 | +2.6% |
| Equity | 10/15 | €269,936 | €324,136 | +€54,200 | +20.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €83,108 | €137,308 | +€54,200 | +65.2% |
| Distributable reserves | 133 | €83,108 | €137,308 | +€54,200 | +65.2% |
| Profit (loss) carried forward | 14 | €156,828 | €156,828 | = | 0.0% |
| Amounts payable | 17/49 | €333,130 | €294,745 | -€38,385 | -11.5% |
| Amounts payable after more than one year | 17 | €182,205 | €179,008 | -€3,197 | -1.8% |
| Financial debts | 170/4 | €182,205 | €179,008 | -€3,197 | -1.8% |
| Amounts payable within one year | 42/48 | €150,926 | €115,737 | -€35,189 | -23.3% |
| Current portion of amounts payable after more than one year | 42 | €31,170 | €35,668 | +€4,499 | +14.4% |
| Trade debts | 44 | €43,058 | €28,302 | -€14,756 | -34.3% |
| Suppliers | 440/4 | €43,058 | €28,302 | -€14,756 | -34.3% |
| Taxes, remuneration and social security | 45 | €76,698 | €51,767 | -€24,931 | -32.5% |
| Taxes | 450/3 | €60,124 | €43,605 | -€16,519 | -27.5% |
| Remuneration and social security | 454/9 | €16,574 | €8,162 | -€8,412 | -50.8% |
| Non-recurring operating income | 76A | €7,675 | - | -€7,675 | |
| Remuneration, social security and pensions | 62 | €137,666 | €154,679 | +€17,014 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,288 | €65,487 | +€28,200 | +75.6% |
| Other operating charges | 640/8 | €8,973 | €8,491 | -€482 | -5.4% |
| Gross operating margin | 9900 | €290,706 | €313,978 | +€23,272 | +8.0% |
| Operating profit (loss) | 9901 | €106,780 | €85,321 | -€21,459 | -20.1% |
| Financial income | 75/76B | €5,402 | €5,068 | -€334 | -6.2% |
| Recurring financial income | 75 | €5,402 | €5,068 | -€334 | -6.2% |
| Financial charges | 65/66B | €10,698 | €9,938 | -€760 | -7.1% |
| Recurring financial charges | 65 | €10,698 | €9,938 | -€760 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €101,484 | €80,450 | -€21,033 | -20.7% |
| Income taxes | 67/77 | €35,092 | €26,250 | -€8,842 | -25.2% |
| Profit (loss) for the period | 9904 | €66,392 | €54,200 | -€12,192 | -18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €66,392 | €54,200 | -€12,192 | -18.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.