PHILIPPE CHABEAU: 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 CHABEAU
Largest movements
- Cash -€8,254
down €8,254 (-87.1%), from €9,478 to €1,225
mainly Debts after one year (-€12,500) and Investment in fixed assets (net) (-€7,542)
- Tangible fixed assets +€6,662
new in 2025: €6,662
- Stocks and contracts +€5,000
up €5,000 (+50.9%), from €9,830 to €14,830
- Receivables within one year +€1,957
up €1,957 (+6.4%), from €30,488 to €32,445
of which Other amounts receivable: +€1,267
- Other debts +€17,353
up €17,353 (+86.8%), from €20,000 to €37,353
- Debts after one year -€12,500
down €12,500 (-10.0%), from €125,000 to €112,500
- Tax, wage and social debts -€3,320
down €3,320 (-98.0%), from €3,389 to €69
- Profit (loss) carried forward +€2,938
up €2,938 (+2.7%), from -€108,603 to -€105,664
- Trade debts +€895
up €895 (+194.5%), from €460 to €1,355
- Write-downs -€11,415
no longer reported in 2025 (was €11,415)
- Gross operating margin -€8,877
down €8,877 (-59.0%), from €15,048 to €6,171
- Other operating charges +€2,353
new in 2025: €2,353
- Depreciation +€880
new in 2025: €880
- Financial charges -€216
no longer reported in 2025 (was €216)
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 | €49,796 | €55,162 | +€5,366 | +10.8% |
| Fixed assets | 21/28 | - | €6,662 | +€6,662 | |
| Tangible fixed assets | 22/27 | - | €6,662 | +€6,662 | |
| Furniture and vehicles | 24 | - | €6,662 | +€6,662 | |
| Current assets | 29/58 | €49,796 | €48,500 | -€1,296 | -2.6% |
| Stocks and contracts in progress | 3 | €9,830 | €14,830 | +€5,000 | +50.9% |
| Stocks | 30/36 | €9,830 | €14,830 | +€5,000 | +50.9% |
| Amounts receivable within one year | 40/41 | €30,488 | €32,445 | +€1,957 | +6.4% |
| Trade receivables | 40 | €30,125 | €30,816 | +€691 | +2.3% |
| Other amounts receivable | 41 | €363 | €1,629 | +€1,267 | +349.1% |
| Cash at bank and in hand | 54/58 | €9,478 | €1,225 | -€8,254 | -87.1% |
| Total equity and liabilities | 10/49 | €49,796 | €55,162 | +€5,366 | +10.8% |
| Equity | 10/15 | -€99,053 | -€96,114 | +€2,938 | +3.0% |
| Contributions | 10/11 | €9,550 | €9,550 | = | 0.0% |
| Outside capital | 11 | €9,550 | €9,550 | = | 0.0% |
| Share premium | 1100/10 | €9,550 | €9,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€108,603 | -€105,664 | +€2,938 | +2.7% |
| Amounts payable | 17/49 | €148,849 | €151,276 | +€2,428 | +1.6% |
| Amounts payable after more than one year | 17 | €125,000 | €112,500 | -€12,500 | -10.0% |
| Financial debts | 170/4 | €125,000 | €112,500 | -€12,500 | -10.0% |
| Amounts payable within one year | 42/48 | €23,849 | €38,776 | +€14,928 | +62.6% |
| Trade debts | 44 | €460 | €1,355 | +€895 | +194.5% |
| Suppliers | 440/4 | €460 | €1,355 | +€895 | +194.5% |
| Taxes, remuneration and social security | 45 | €3,389 | €69 | -€3,320 | -98.0% |
| Taxes | 450/3 | €3,389 | €69 | -€3,320 | -98.0% |
| Other amounts payable | 47/48 | €20,000 | €37,353 | +€17,353 | +86.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €880 | +€880 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,415 | - | -€11,415 | |
| Other operating charges | 640/8 | - | €2,353 | +€2,353 | |
| Gross operating margin | 9900 | €15,048 | €6,171 | -€8,877 | -59.0% |
| Operating profit (loss) | 9901 | €3,633 | €2,938 | -€695 | -19.1% |
| Financial charges | 65/66B | €216 | - | -€216 | |
| Recurring financial charges | 65 | €216 | - | -€216 | |
| Profit (loss) for the period before taxes | 9903 | €3,418 | €2,938 | -€479 | -14.0% |
| Profit (loss) for the period | 9904 | €3,418 | €2,938 | -€479 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,418 | €2,938 | -€479 | -14.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.