PHILIPPE BOCKIAU: 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.
PHILIPPE BOCKIAU
Largest movements
- Receivables within one year +€9,275
up €9,275 (+50.6%), from €18,341 to €27,615
of which Other amounts receivable: +€5,798
- Cash -€2,405
down €2,405 (-31.8%), from €7,571 to €5,167
mainly Receivables within one year (-€9,275) and Short-term financial debts (-€8,667)
- Profit (loss) carried forward +€15,100
up €15,100 (+236%), from €6,394 to €21,494
- Short-term financial debts -€8,667
down €8,667 (-69.4%), from €12,482 to €3,814
- Trade debts +€3,520
up €3,520 (+447%), from €787 to €4,307
- Tax, wage and social debts -€1,856
down €1,856 (-55.2%), from €3,359 to €1,504
- Gross operating margin +€2,643
up €2,643 (+14.5%), from €18,203 to €20,846
- Financial income -€2,267
down €2,267 (-99.9%), from €2,270 to €3
- Financial charges -€1,422
down €1,422 (-55.8%), from €2,547 to €1,125
- Depreciation -€1,199
no longer reported in 2025 (was €1,199)
- Taxes +€705
up €705 (+24.7%), from €2,850 to €3,555
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 | €64,978 | €72,362 | +€7,384 | +11.4% |
| Fixed assets | 21/28 | €2,009 | €2,288 | +€279 | +13.9% |
| Intangible fixed assets | 21 | €25 | €25 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,984 | €2,263 | +€279 | +14.1% |
| Plant, machinery and equipment | 23 | €61 | €61 | = | 0.0% |
| Furniture and vehicles | 24 | €1,922 | €2,202 | +€279 | +14.5% |
| Current assets | 29/58 | €62,969 | €70,074 | +€7,105 | +11.3% |
| Amounts receivable after more than one year | 29 | €32,496 | €32,496 | = | 0.0% |
| Other amounts receivable | 291 | €32,496 | €32,496 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €18,341 | €27,615 | +€9,275 | +50.6% |
| Trade receivables | 40 | €2,828 | €6,304 | +€3,476 | +123% |
| Other amounts receivable | 41 | €15,513 | €21,312 | +€5,798 | +37.4% |
| Cash at bank and in hand | 54/58 | €7,571 | €5,167 | -€2,405 | -31.8% |
| Deferred charges and accrued income | 490/1 | €4,561 | €4,796 | +€235 | +5.1% |
| Total equity and liabilities | 10/49 | €64,978 | €72,362 | +€7,384 | +11.4% |
| Equity | 10/15 | €42,451 | €57,551 | +€15,100 | +35.6% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €29,860 | €29,860 | = | 0.0% |
| Distributable reserves | 133 | €29,860 | €29,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,394 | €21,494 | +€15,100 | +236% |
| Amounts payable | 17/49 | €22,527 | €14,811 | -€7,716 | -34.3% |
| Amounts payable within one year | 42/48 | €20,128 | €13,125 | -€7,003 | -34.8% |
| Financial debts | 43 | €12,482 | €3,814 | -€8,667 | -69.4% |
| Credit institutions | 430/8 | €12,482 | €3,814 | -€8,667 | -69.4% |
| Trade debts | 44 | €787 | €4,307 | +€3,520 | +447% |
| Suppliers | 440/4 | €787 | €4,307 | +€3,520 | +447% |
| Taxes, remuneration and social security | 45 | €3,359 | €1,504 | -€1,856 | -55.2% |
| Taxes | 450/3 | €3,359 | €1,504 | -€1,856 | -55.2% |
| Other amounts payable | 47/48 | €3,500 | €3,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,399 | €1,686 | -€713 | -29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,199 | - | -€1,199 | |
| Other operating charges | 640/8 | €1,168 | €1,069 | -€99 | -8.4% |
| Gross operating margin | 9900 | €18,203 | €20,846 | +€2,643 | +14.5% |
| Operating profit (loss) | 9901 | €15,837 | €19,777 | +€3,941 | +24.9% |
| Financial income | 75/76B | €2,270 | €3 | -€2,267 | -99.9% |
| Recurring financial income | 75 | €2,270 | €3 | -€2,267 | -99.9% |
| Financial charges | 65/66B | €2,547 | €1,125 | -€1,422 | -55.8% |
| Recurring financial charges | 65 | €2,547 | €1,125 | -€1,422 | -55.8% |
| Profit (loss) for the period before taxes | 9903 | €15,560 | €18,655 | +€3,095 | +19.9% |
| Income taxes | 67/77 | €2,850 | €3,555 | +€705 | +24.7% |
| Profit (loss) for the period | 9904 | €12,710 | €15,100 | +€2,390 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,710 | €15,100 | +€2,390 | +18.8% |
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 22 October 2026 via checked.be.