Philip Naert Consult: 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 Naert Consult
Largest movements
- Cash +€108,983
up €108,983 (+46.9%), from €232,156 to €341,139
mainly Net result for the year (+€86,404) and Tax, wage and social debts (+€22,658)
- Reserves +€86,404
up €86,404 (+45.3%), from €190,669 to €277,073
- Tax, wage and social debts +€22,658
up €22,658 (+55.7%), from €40,682 to €63,340
of which Taxes: +€22,658
- Gross operating margin -€26,203
down €26,203 (-19.0%), from €137,639 to €111,436
- Taxes -€6,588
down €6,588 (-22.3%), from €29,530 to €22,942
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 | €235,323 | €344,229 | +€108,906 | +46.3% |
| Fixed assets | 21/28 | €2,222 | €1,387 | -€835 | -37.6% |
| Tangible fixed assets | 22/27 | €2,222 | €1,387 | -€835 | -37.6% |
| Plant, machinery and equipment | 23 | €2,222 | €1,387 | -€835 | -37.6% |
| Current assets | 29/58 | €233,101 | €342,842 | +€109,741 | +47.1% |
| Amounts receivable within one year | 40/41 | €945 | €1,703 | +€758 | +80.2% |
| Trade receivables | 40 | €940 | €1,698 | +€758 | +80.5% |
| Other amounts receivable | 41 | €4 | €5 | +€0 | +3.4% |
| Cash at bank and in hand | 54/58 | €232,156 | €341,139 | +€108,983 | +46.9% |
| Total equity and liabilities | 10/49 | €235,323 | €344,229 | +€108,906 | +46.3% |
| Equity | 10/15 | €193,169 | €279,573 | +€86,404 | +44.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €190,669 | €277,073 | +€86,404 | +45.3% |
| Distributable reserves | 133 | €190,669 | €277,073 | +€86,404 | +45.3% |
| Amounts payable | 17/49 | €42,154 | €64,656 | +€22,502 | +53.4% |
| Amounts payable within one year | 42/48 | €42,154 | €64,336 | +€22,182 | +52.6% |
| Trade debts | 44 | €660 | €361 | -€299 | -45.3% |
| Suppliers | 440/4 | €660 | €361 | -€299 | -45.3% |
| Taxes, remuneration and social security | 45 | €40,682 | €63,340 | +€22,658 | +55.7% |
| Taxes | 450/3 | €38,682 | €61,340 | +€22,658 | +58.6% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €812 | €635 | -€177 | -21.8% |
| Accrued charges and deferred income | 492/3 | - | €320 | +€320 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €835 | €835 | = | 0.0% |
| Other operating charges | 640/8 | €1,368 | €1,684 | +€315 | +23.0% |
| Gross operating margin | 9900 | €137,639 | €111,436 | -€26,203 | -19.0% |
| Operating profit (loss) | 9901 | €135,435 | €108,917 | -€26,518 | -19.6% |
| Financial income | 75/76B | - | €479 | +€479 | |
| Recurring financial income | 75 | - | €479 | +€479 | |
| Financial charges | 65/66B | €73 | €50 | -€22 | -30.6% |
| Recurring financial charges | 65 | €73 | €50 | -€22 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | €135,363 | €109,346 | -€26,017 | -19.2% |
| Income taxes | 67/77 | €29,530 | €22,942 | -€6,588 | -22.3% |
| Profit (loss) for the period | 9904 | €105,833 | €86,404 | -€19,429 | -18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €105,833 | €86,404 | -€19,429 | -18.4% |
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 30 October 2026 via checked.be.