PHILIP VAN GESTEL: 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 VAN GESTEL
Largest movements
- Cash +€332,875
up €332,875 (+249%), from €133,609 to €466,484
mainly Net result for the year (+€383,506) and Current investments (+€200,024)
- Current investments -€200,024
down €200,024 (-32.0%), from €625,024 to €425,000
- Receivables after one year +€32,000
new in 2025: €32,000
- Deferred charges and accrued income +€14,946
up €14,946 (+2,527%), from €591 to €15,537
- Other debts +€108,405
up €108,405 (+1,822%), from €5,948 to €114,353
- Reserves +€66,022
up €66,022 (+6.1%), from €1.1m to €1.1m
- Tax, wage and social debts -€16,548
down €16,548 (-13.1%), from €126,545 to €109,997
- Financial income +€61,290
up €61,290 (+32.6%), from €188,166 to €249,456
- Gross operating margin -€24,870
down €24,870 (-8.6%), from €288,715 to €263,845
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 | €1,295,686 | €1,467,222 | +€171,536 | +13.2% |
| Fixed assets | 21/28 | €514,503 | €503,223 | -€11,279 | -2.2% |
| Tangible fixed assets | 22/27 | €348,703 | €338,223 | -€10,479 | -3.0% |
| Plant, machinery and equipment | 23 | €12,794 | €11,390 | -€1,404 | -11.0% |
| Furniture and vehicles | 24 | €245,688 | €227,479 | -€18,209 | -7.4% |
| Other tangible fixed assets | 26 | €90,221 | €99,354 | +€9,133 | +10.1% |
| Financial fixed assets | 28 | €165,800 | €165,000 | -€800 | -0.5% |
| Current assets | 29/58 | €781,184 | €963,999 | +€182,815 | +23.4% |
| Amounts receivable after more than one year | 29 | - | €32,000 | +€32,000 | |
| Other amounts receivable | 291 | - | €32,000 | +€32,000 | |
| Amounts receivable within one year | 40/41 | €21,959 | €24,978 | +€3,018 | +13.7% |
| Trade receivables | 40 | €21,934 | €24,792 | +€2,858 | +13.0% |
| Other amounts receivable | 41 | €25 | €185 | +€160 | +641% |
| Current investments | 50/53 | €625,024 | €425,000 | -€200,024 | -32.0% |
| Cash at bank and in hand | 54/58 | €133,609 | €466,484 | +€332,875 | +249% |
| Deferred charges and accrued income | 490/1 | €591 | €15,537 | +€14,946 | +2,527% |
| Total equity and liabilities | 10/49 | €1,295,686 | €1,467,222 | +€171,536 | +13.2% |
| Equity | 10/15 | €1,150,875 | €1,216,897 | +€66,022 | +5.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,080,083 | €1,146,105 | +€66,022 | +6.1% |
| Distributable reserves | 133 | €1,080,083 | €1,146,105 | +€66,022 | +6.1% |
| Profit (loss) carried forward | 14 | €58,392 | €58,392 | = | 0.0% |
| Amounts payable | 17/49 | €144,811 | €250,325 | +€105,514 | +72.9% |
| Amounts payable within one year | 42/48 | €144,811 | €250,325 | +€105,514 | +72.9% |
| Trade debts | 44 | €12,317 | €25,975 | +€13,658 | +111% |
| Suppliers | 440/4 | €12,317 | €25,975 | +€13,658 | +111% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €126,545 | €109,997 | -€16,548 | -13.1% |
| Taxes | 450/3 | €126,545 | €109,997 | -€16,548 | -13.1% |
| Other amounts payable | 47/48 | €5,948 | €114,353 | +€108,405 | +1,822% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,455 | €20,547 | -€908 | -4.2% |
| Other operating charges | 640/8 | €1,569 | €1,429 | -€139 | -8.9% |
| Gross operating margin | 9900 | €288,715 | €263,845 | -€24,870 | -8.6% |
| Operating profit (loss) | 9901 | €265,692 | €241,869 | -€23,822 | -9.0% |
| Financial income | 75/76B | €188,166 | €249,456 | +€61,290 | +32.6% |
| Recurring financial income | 75 | €188,166 | €249,456 | +€61,290 | +32.6% |
| Financial charges | 65/66B | €177 | €231 | +€54 | +30.4% |
| Recurring financial charges | 65 | €177 | €231 | +€54 | +30.4% |
| Profit (loss) for the period before taxes | 9903 | €453,680 | €491,094 | +€37,413 | +8.2% |
| Income taxes | 67/77 | €109,177 | €107,588 | -€1,590 | -1.5% |
| Profit (loss) for the period | 9904 | €344,503 | €383,506 | +€39,003 | +11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €344,503 | €383,506 | +€39,003 | +11.3% |
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 14 October 2026 via checked.be.