PHILIP WERLL MANAGEMENT: 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 WERLL MANAGEMENT
Largest movements
- Intangible fixed assets -€16,021
down €16,021 (-100%), from €16,021 to €0
- Tangible fixed assets -€5,299
down €5,299 (-3.7%), from €143,041 to €137,742
of which Land and buildings: -€4,799
- Receivables within one year +€3,768
up €3,768 (+5.3%), from €71,763 to €75,531
of which Trade receivables: +€6,141
- Cash +€3,382
up €3,382 (+21.9%), from €15,422 to €18,804
mainly Depreciation (+€21,320) and Trade debts (+€14,546)
- Profit (loss) carried forward -€25,139
new in 2025: -€25,139
- Tax, wage and social debts -€17,681
down €17,681 (-38.8%), from €45,558 to €27,877
of which Taxes: -€16,274
- Trade debts +€14,546
up €14,546 (+11.7%), from €124,782 to €139,328
- Short-term financial debts +€11,396
up €11,396 (+127%), from €8,957 to €20,353
- Other debts +€4,179
up €4,179 (+218%), from €1,913 to €6,092
- Gross operating margin -€152,810
down €152,810 (-67.2%), from €227,319 to €74,509
- Other operating charges +€28,576
up €28,576 (+519%), from €5,508 to €34,084
- Taxes -€23,412
down €23,412 (-94.6%), from €24,739 to €1,327
- Staff costs -€13,926
down €13,926 (-26.6%), from €52,382 to €38,456
- Write-downs -€4,818
no longer reported in 2025 (was €4,818)
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 | €256,951 | €244,252 | -€12,699 | -4.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €159,322 | €138,002 | -€21,320 | -13.4% |
| Intangible fixed assets | 21 | €16,021 | €0 | -€16,021 | -100% |
| Tangible fixed assets | 22/27 | €143,041 | €137,742 | -€5,299 | -3.7% |
| Land and buildings | 22 | €140,645 | €135,846 | -€4,799 | -3.4% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €2,396 | €1,896 | -€500 | -20.9% |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €97,629 | €106,250 | +€8,621 | +8.8% |
| Amounts receivable within one year | 40/41 | €71,763 | €75,531 | +€3,768 | +5.3% |
| Trade receivables | 40 | €65,307 | €71,449 | +€6,141 | +9.4% |
| Other amounts receivable | 41 | €6,455 | €4,082 | -€2,373 | -36.8% |
| Cash at bank and in hand | 54/58 | €15,422 | €18,804 | +€3,382 | +21.9% |
| Deferred charges and accrued income | 490/1 | €10,444 | €11,915 | +€1,471 | +14.1% |
| Total equity and liabilities | 10/49 | €256,951 | €244,252 | -€12,699 | -4.9% |
| Equity | 10/15 | €75,741 | €50,602 | -€25,139 | -33.2% |
| Contributions | 10/11 | €10,200 | €10,200 | = | 0.0% |
| Reserves | 13 | €65,541 | €65,541 | = | 0.0% |
| Distributable reserves | 133 | €65,541 | €65,541 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€25,139 | -€25,139 | |
| Amounts payable | 17/49 | €181,210 | €193,650 | +€12,440 | +6.9% |
| Amounts payable within one year | 42/48 | €181,210 | €193,650 | +€12,440 | +6.9% |
| Financial debts | 43 | €8,957 | €20,353 | +€11,396 | +127% |
| Credit institutions | 430/8 | €8,957 | €20,353 | +€11,396 | +127% |
| Trade debts | 44 | €124,782 | €139,328 | +€14,546 | +11.7% |
| Suppliers | 440/4 | €124,782 | €139,328 | +€14,546 | +11.7% |
| Taxes, remuneration and social security | 45 | €45,558 | €27,877 | -€17,681 | -38.8% |
| Taxes | 450/3 | €38,406 | €22,133 | -€16,274 | -42.4% |
| Remuneration and social security | 454/9 | €7,152 | €5,744 | -€1,407 | -19.7% |
| Other amounts payable | 47/48 | €1,913 | €6,092 | +€4,179 | +218% |
| Remuneration, social security and pensions | 62 | €52,382 | €38,456 | -€13,926 | -26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,188 | €21,320 | +€132 | +0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,818 | - | -€4,818 | |
| Other operating charges | 640/8 | €5,508 | €34,084 | +€28,576 | +519% |
| Gross operating margin | 9900 | €227,319 | €74,509 | -€152,810 | -67.2% |
| Operating profit (loss) | 9901 | €143,422 | -€19,351 | -€162,774 | |
| Financial income | 75/76B | €392 | €231 | -€162 | -41.2% |
| Recurring financial income | 75 | €392 | €231 | -€162 | -41.2% |
| Financial charges | 65/66B | €8,607 | €4,691 | -€3,916 | -45.5% |
| Recurring financial charges | 65 | €8,607 | €4,691 | -€3,916 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | €135,207 | -€23,812 | -€159,019 | |
| Income taxes | 67/77 | €24,739 | €1,327 | -€23,412 | -94.6% |
| Profit (loss) for the period | 9904 | €110,468 | -€25,139 | -€135,607 | |
| Profit (loss) for the period to be appropriated | 9905 | €110,468 | -€25,139 | -€135,607 |
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 27 October 2026 via checked.be.