Philippe Bouchot: what changed
Two fiscal 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 Bouchot
Largest movements
- Cash +€8,904
up €8,904 (+8.6%), from €103,348 to €112,253
mainly Net result for the year (+€50,634) and Deferred charges and accrued income (+€8,206)
- Deferred charges and accrued income -€8,206
down €8,206 (-25.1%), from €32,682 to €24,476
- Receivables within one year -€4,310
down €4,310 (-58.5%), from €7,371 to €3,061
of which Trade receivables: -€2,447
- Profit (loss) carried forward -€3,366
down €3,366 (-3.0%), from €112,432 to €109,066
- Trade debts -€1,872
down €1,872 (-49.8%), from €3,757 to €1,886
- Gross operating margin -€5,059
down €5,059 (-7.1%), from €71,430 to €66,372
- Taxes -€1,704
down €1,704 (-10.7%), from €15,943 to €14,239
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.
Cash bridge derived
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 | €147,749 | €142,950 | -€4,798 | -3.2% |
| Fixed assets | 21/28 | €4,347 | €3,161 | -€1,186 | -27.3% |
| Tangible fixed assets | 22/27 | €4,347 | €3,161 | -€1,186 | -27.3% |
| Furniture and vehicles | 24 | €58 | €0 | -€58 | -100.0% |
| Other tangible fixed assets | 26 | €4,289 | €3,161 | -€1,128 | -26.3% |
| Current assets | 29/58 | €143,402 | €139,790 | -€3,612 | -2.5% |
| Amounts receivable within one year | 40/41 | €7,371 | €3,061 | -€4,310 | -58.5% |
| Trade receivables | 40 | €2,700 | €253 | -€2,447 | -90.6% |
| Other amounts receivable | 41 | €4,671 | €2,808 | -€1,863 | -39.9% |
| Cash at bank and in hand | 54/58 | €103,348 | €112,253 | +€8,904 | +8.6% |
| Deferred charges and accrued income | 490/1 | €32,682 | €24,476 | -€8,206 | -25.1% |
| Total equity and liabilities | 10/49 | €147,749 | €142,950 | -€4,798 | -3.2% |
| Equity | 10/15 | €127,432 | €124,066 | -€3,366 | -2.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,432 | €109,066 | -€3,366 | -3.0% |
| Amounts payable | 17/49 | €20,317 | €18,884 | -€1,432 | -7.0% |
| Amounts payable within one year | 42/48 | €20,317 | €18,884 | -€1,432 | -7.0% |
| Trade debts | 44 | €3,757 | €1,886 | -€1,872 | -49.8% |
| Suppliers | 440/4 | €3,757 | €1,886 | -€1,872 | -49.8% |
| Taxes, remuneration and social security | 45 | €16,398 | €16,185 | -€213 | -1.3% |
| Taxes | 450/3 | €16,398 | €16,185 | -€213 | -1.3% |
| Other amounts payable | 47/48 | €161 | €814 | +€653 | +405.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,371 | €1,186 | -€185 | -13.5% |
| Other operating charges | 640/8 | €384 | €787 | +€403 | +104.7% |
| Non-recurring operating charges | 66A | €258 | €0 | -€258 | -100.0% |
| Gross operating margin | 9900 | €71,430 | €66,372 | -€5,059 | -7.1% |
| Operating profit (loss) | 9901 | €69,417 | €64,399 | -€5,018 | -7.2% |
| Financial income | 75/76B | €2,048 | €1,906 | -€142 | -6.9% |
| Recurring financial income | 75 | €2,048 | €1,906 | -€142 | -6.9% |
| Financial charges | 65/66B | €1,063 | €1,432 | +€369 | +34.7% |
| Recurring financial charges | 65 | €1,063 | €1,432 | +€369 | +34.7% |
| Profit (loss) for the period before taxes | 9903 | €70,402 | €64,873 | -€5,529 | -7.9% |
| Income taxes | 67/77 | €15,943 | €14,239 | -€1,704 | -10.7% |
| Profit (loss) for the period | 9904 | €54,459 | €50,634 | -€3,825 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,459 | €50,634 | -€3,825 | -7.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.