Philippe Colanbeen: 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 Colanbeen
Largest movements
- Receivables after one year -€448,300
down €448,300 (-49.8%), from €900,386 to €452,086
- Current investments -€252,434
down €252,434 (-11.7%), from €2.2m to €1.9m
- Tangible fixed assets -€62,649
down €62,649 (-8.3%), from €758,805 to €696,156
of which Furniture and vehicles: -€36,292
- Cash +€48,464
up €48,464 (+72.5%), from €66,820 to €115,283
mainly Receivables after one year (+€448,300) and Current investments (+€252,434)
- Reserves -€950,831
down €950,831 (-26.0%), from €3.7m to €2.7m
- Debts after one year +€229,504
up €229,504 (+166.4%), from €137,892 to €367,396
of which Other amounts payable: +€248,909
- Gross operating margin -€44,968
down €44,968 (-52.1%), from €86,373 to €41,405
- Financial income -€44,070
down €44,070 (-29.0%), from €151,995 to €107,925
- Financial charges +€7,631
up €7,631 (+66.5%), from €11,482 to €19,113
- Depreciation -€1,961
down €1,961 (-3.0%), from €64,610 to €62,649
- Taxes +€1,823
up €1,823 (+15.5%), from €11,784 to €13,607
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 | €3,947,436 | €3,219,945 | -€727,491 | -18.4% |
| Fixed assets | 21/28 | €758,805 | €696,156 | -€62,649 | -8.3% |
| Tangible fixed assets | 22/27 | €758,805 | €696,156 | -€62,649 | -8.3% |
| Land and buildings | 22 | €622,795 | €598,350 | -€24,445 | -3.9% |
| Furniture and vehicles | 24 | €133,915 | €97,622 | -€36,292 | -27.1% |
| Other tangible fixed assets | 26 | €2,095 | €184 | -€1,912 | -91.2% |
| Current assets | 29/58 | €3,188,630 | €2,523,788 | -€664,842 | -20.9% |
| Amounts receivable after more than one year | 29 | €900,386 | €452,086 | -€448,300 | -49.8% |
| Other amounts receivable | 291 | €900,386 | €452,086 | -€448,300 | -49.8% |
| Amounts receivable within one year | 40/41 | €40,808 | €31,201 | -€9,607 | -23.5% |
| Trade receivables | 40 | €27,062 | €9,680 | -€17,382 | -64.2% |
| Other amounts receivable | 41 | €13,746 | €21,521 | +€7,775 | +56.6% |
| Current investments | 50/53 | €2,155,834 | €1,903,401 | -€252,434 | -11.7% |
| Cash at bank and in hand | 54/58 | €66,820 | €115,283 | +€48,464 | +72.5% |
| Deferred charges and accrued income | 490/1 | €24,783 | €21,817 | -€2,965 | -12.0% |
| Total equity and liabilities | 10/49 | €3,947,436 | €3,219,945 | -€727,491 | -18.4% |
| Equity | 10/15 | €3,776,634 | €2,825,804 | -€950,831 | -25.2% |
| Contributions | 10/11 | €114,275 | €114,275 | = | 0.0% |
| Reserves | 13 | €3,662,359 | €2,711,529 | -€950,831 | -26.0% |
| Distributable reserves | 133 | €3,662,359 | €2,711,529 | -€950,831 | -26.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €170,801 | €394,141 | +€223,340 | +130.8% |
| Amounts payable after more than one year | 17 | €137,892 | €367,396 | +€229,504 | +166.4% |
| Financial debts | 170/4 | €137,301 | €117,896 | -€19,405 | -14.1% |
| Other amounts payable | 178/9 | €591 | €249,500 | +€248,909 | +42112.3% |
| Amounts payable within one year | 42/48 | €30,133 | €25,226 | -€4,907 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €18,918 | €19,405 | +€487 | +2.6% |
| Trade debts | 44 | €3,453 | €1,516 | -€1,937 | -56.1% |
| Suppliers | 440/4 | €3,453 | €1,516 | -€1,937 | -56.1% |
| Taxes, remuneration and social security | 45 | €7,762 | €4,305 | -€3,457 | -44.5% |
| Taxes | 450/3 | €7,762 | €4,305 | -€3,457 | -44.5% |
| Accrued charges and deferred income | 492/3 | €2,776 | €1,519 | -€1,257 | -45.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,610 | €62,649 | -€1,961 | -3.0% |
| Other operating charges | 640/8 | €4,738 | €4,791 | +€53 | +1.1% |
| Gross operating margin | 9900 | €86,373 | €41,405 | -€44,968 | -52.1% |
| Operating profit (loss) | 9901 | €17,025 | -€26,035 | -€43,060 | |
| Financial income | 75/76B | €151,995 | €107,925 | -€44,070 | -29.0% |
| Recurring financial income | 75 | €151,995 | €107,925 | -€44,070 | -29.0% |
| Financial charges | 65/66B | €11,482 | €19,113 | +€7,631 | +66.5% |
| Recurring financial charges | 65 | €11,482 | €19,113 | +€7,631 | +66.5% |
| Profit (loss) for the period before taxes | 9903 | €157,538 | €62,777 | -€94,761 | -60.2% |
| Income taxes | 67/77 | €11,784 | €13,607 | +€1,823 | +15.5% |
| Profit (loss) for the period | 9904 | €145,754 | €49,169 | -€96,585 | -66.3% |
| Profit (loss) for the period to be appropriated | 9905 | €145,754 | €49,169 | -€96,585 | -66.3% |
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 6 October 2026 via checked.be.