PHILIP THEYS: 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 THEYS
Largest movements
- Receivables within one year -€14,446
down €14,446 (-49.3%), from €29,288 to €14,842
of which Other amounts receivable: -€16,522
- Tangible fixed assets -€4,913
down €4,913 (-24.4%), from €20,151 to €15,237
- Deferred charges and accrued income +€1,782
up €1,782 (+145%), from €1,225 to €3,006
- Contributions -€13,600
down €13,600 (-73.1%), from €18,600 to €5,000
- Debts after one year -€7,699
down €7,699 (-92.1%), from €8,356 to €656
- Tax, wage and social debts +€3,163
up €3,163 (+32.5%), from €9,743 to €12,906
of which Taxes: +€1,903
- Gross operating margin -€17,510
down €17,510 (-57.3%), from €30,556 to €13,045
- Taxes -€6,122
down €6,122 (-64.7%), from €9,467 to €3,344
- Other operating charges +€798
up €798 (+34.9%), from €2,285 to €3,084
- Depreciation +€498
up €498 (+11.3%), from €4,415 to €4,913
- Financial charges -€414
down €414 (-28.2%), from €1,467 to €1,053
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 | €57,540 | €40,121 | -€17,419 | -30.3% |
| Fixed assets | 21/28 | €21,231 | €16,317 | -€4,913 | -23.1% |
| Tangible fixed assets | 22/27 | €20,151 | €15,237 | -€4,913 | -24.4% |
| Furniture and vehicles | 24 | €20,151 | €15,237 | -€4,913 | -24.4% |
| Financial fixed assets | 28 | €1,080 | €1,080 | = | 0.0% |
| Current assets | 29/58 | €36,309 | €23,803 | -€12,506 | -34.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €29,288 | €14,842 | -€14,446 | -49.3% |
| Trade receivables | 40 | €7,093 | €9,168 | +€2,075 | +29.3% |
| Other amounts receivable | 41 | €22,195 | €5,673 | -€16,522 | -74.4% |
| Current investments | 50/53 | €4 | - | -€4 | |
| Cash at bank and in hand | 54/58 | €5,792 | €5,955 | +€163 | +2.8% |
| Deferred charges and accrued income | 490/1 | €1,225 | €3,006 | +€1,782 | +145% |
| Total equity and liabilities | 10/49 | €57,540 | €40,121 | -€17,419 | -30.3% |
| Equity | 10/15 | €29,122 | €15,641 | -€13,481 | -46.3% |
| Contributions | 10/11 | €18,600 | €5,000 | -€13,600 | -73.1% |
| Reserves | 13 | €10,522 | €10,641 | +€119 | +1.1% |
| Distributable reserves | 133 | €10,522 | €10,641 | +€119 | +1.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €28,417 | €24,479 | -€3,938 | -13.9% |
| Amounts payable after more than one year | 17 | €8,356 | €656 | -€7,699 | -92.1% |
| Financial debts | 170/4 | €8,356 | €656 | -€7,699 | -92.1% |
| Amounts payable within one year | 42/48 | €20,061 | €23,823 | +€3,762 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €7,380 | €7,699 | +€319 | +4.3% |
| Financial debts | 43 | - | €215 | +€215 | |
| Credit institutions | 430/8 | - | €215 | +€215 | |
| Trade debts | 44 | €2,938 | €3,002 | +€65 | +2.2% |
| Suppliers | 440/4 | €2,938 | €3,002 | +€65 | +2.2% |
| Taxes, remuneration and social security | 45 | €9,743 | €12,906 | +€3,163 | +32.5% |
| Taxes | 450/3 | €9,743 | €11,646 | +€1,903 | +19.5% |
| Remuneration and social security | 454/9 | - | €1,260 | +€1,260 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €4,481 | €0 | -€4,481 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,415 | €4,913 | +€498 | +11.3% |
| Other operating charges | 640/8 | €2,285 | €3,084 | +€798 | +34.9% |
| Gross operating margin | 9900 | €30,556 | €13,045 | -€17,510 | -57.3% |
| Operating profit (loss) | 9901 | €23,855 | €5,049 | -€18,806 | -78.8% |
| Financial income | 75/76B | €1,062 | €828 | -€234 | -22.0% |
| Recurring financial income | 75 | €1,062 | €828 | -€234 | -22.0% |
| Financial charges | 65/66B | €1,467 | €1,053 | -€414 | -28.2% |
| Recurring financial charges | 65 | €1,467 | €1,053 | -€414 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | €23,449 | €4,823 | -€18,626 | -79.4% |
| Income taxes | 67/77 | €9,467 | €3,344 | -€6,122 | -64.7% |
| Profit (loss) for the period | 9904 | €13,983 | €1,479 | -€12,504 | -89.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,983 | €1,479 | -€12,504 | -89.4% |
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 23 October 2026 via checked.be.