PHILIP LENDERS: 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 LENDERS
Largest movements
- Cash -€52,558
down €52,558 (-43.2%), from €121,617 to €69,059
mainly Contributions, distributions and other (-€219,753) and Current investments (-€34,294)
- Current investments +€34,294
up €34,294 (+73.0%), from €47,000 to €81,294
- Tangible fixed assets -€6,118
down €6,118 (-16.0%), from €38,331 to €32,213
of which Furniture and vehicles: -€9,327
- Reserves -€170,911
down €170,911 (-100%), from €170,911 to €0
- Other debts +€141,369
up €141,369 (+13,112%), from €1,078 to €142,447
- Gross operating margin -€17,347
down €17,347 (-16.7%), from €103,765 to €86,418
- Other operating charges +€1,949
up €1,949 (+237%), from €824 to €2,773
- Depreciation +€1,843
up €1,843 (+15.5%), from €11,888 to €13,731
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 | €216,295 | €189,780 | -€26,515 | -12.3% |
| Fixed assets | 21/28 | €38,481 | €32,363 | -€6,118 | -15.9% |
| Tangible fixed assets | 22/27 | €38,331 | €32,213 | -€6,118 | -16.0% |
| Plant, machinery and equipment | 23 | €987 | €6,917 | +€5,930 | +601% |
| Furniture and vehicles | 24 | €22,768 | €13,441 | -€9,327 | -41.0% |
| Other tangible fixed assets | 26 | €14,575 | €11,855 | -€2,720 | -18.7% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €177,814 | €157,417 | -€20,397 | -11.5% |
| Amounts receivable within one year | 40/41 | €7,431 | €5,401 | -€2,029 | -27.3% |
| Trade receivables | 40 | €6,003 | €1,471 | -€4,531 | -75.5% |
| Other amounts receivable | 41 | €1,428 | €3,930 | +€2,502 | +175% |
| Current investments | 50/53 | €47,000 | €81,294 | +€34,294 | +73.0% |
| Cash at bank and in hand | 54/58 | €121,617 | €69,059 | -€52,558 | -43.2% |
| Deferred charges and accrued income | 490/1 | €1,767 | €1,663 | -€104 | -5.9% |
| Total equity and liabilities | 10/49 | €216,295 | €189,780 | -€26,515 | -12.3% |
| Equity | 10/15 | €189,511 | €18,600 | -€170,911 | -90.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €170,911 | €0 | -€170,911 | -100% |
| Distributable reserves | 133 | €170,911 | €0 | -€170,911 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €26,784 | €171,180 | +€144,396 | +539% |
| Amounts payable within one year | 42/48 | €26,784 | €171,180 | +€144,396 | +539% |
| Financial debts | 43 | €2,510 | €3,818 | +€1,308 | +52.1% |
| Credit institutions | 430/8 | €2,510 | €3,818 | +€1,308 | +52.1% |
| Trade debts | 44 | €977 | €1,998 | +€1,021 | +104% |
| Suppliers | 440/4 | €977 | €1,998 | +€1,021 | +104% |
| Taxes, remuneration and social security | 45 | €22,219 | €22,917 | +€698 | +3.1% |
| Taxes | 450/3 | €22,219 | €22,917 | +€698 | +3.1% |
| Other amounts payable | 47/48 | €1,078 | €142,447 | +€141,369 | +13,112% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,888 | €13,731 | +€1,843 | +15.5% |
| Other operating charges | 640/8 | €824 | €2,773 | +€1,949 | +237% |
| Gross operating margin | 9900 | €103,765 | €86,418 | -€17,347 | -16.7% |
| Operating profit (loss) | 9901 | €91,052 | €69,913 | -€21,139 | -23.2% |
| Financial income | 75/76B | €80 | €3 | -€77 | -96.9% |
| Recurring financial income | 75 | €80 | €3 | -€77 | -96.9% |
| Financial charges | 65/66B | €2,931 | €2,482 | -€449 | -15.3% |
| Recurring financial charges | 65 | €2,931 | €2,482 | -€449 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €88,201 | €67,434 | -€20,767 | -23.5% |
| Income taxes | 67/77 | €18,697 | €18,592 | -€105 | -0.6% |
| Profit (loss) for the period | 9904 | €69,504 | €48,842 | -€20,662 | -29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €69,504 | €48,842 | -€20,662 | -29.7% |
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 1 November 2026 via checked.be.