Philippe CORNET: 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 CORNET
Largest movements
- Cash -€5,456
down €5,456 (-11.0%), from €49,796 to €44,340
mainly Investment in fixed assets (net) (-€10,026) and Debts after one year (-€3,694)
- Receivables within one year -€4,058
down €4,058 (-31.2%), from €12,991 to €8,933
of which Trade receivables: -€8,851
- Deferred charges and accrued income +€1,642
up €1,642 (+134.6%), from €1,221 to €2,863
- Debts after one year -€3,694
down €3,694 (-35.8%), from €10,330 to €6,636
- Tax, wage and social debts -€2,379
down €2,379 (-48.5%), from €4,902 to €2,523
- Profit (loss) carried forward -€1,691
down €1,691 (-2.7%), from €62,498 to €60,807
- Trade debts +€1,096
up €1,096 (+1171.8%), from €93 to €1,189
- Other operating charges +€8,939
up €8,939 (+1109.0%), from €806 to €9,745
- Gross operating margin +€7,822
up €7,822 (+66.5%), from €11,770 to €19,592
- Depreciation -€5,396
down €5,396 (-37.0%), from €14,596 to €9,200
- Staff costs +€1,334
new in 2025: €1,334
- Taxes -€1,285
down €1,285 (-73.2%), from €1,756 to €471
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 | €103,315 | €96,269 | -€7,046 | -6.8% |
| Fixed assets | 21/28 | €39,307 | €40,133 | +€826 | +2.1% |
| Tangible fixed assets | 22/27 | €37,307 | €38,133 | +€826 | +2.2% |
| Plant, machinery and equipment | 23 | €471 | - | -€471 | |
| Furniture and vehicles | 24 | €35,642 | €37,338 | +€1,696 | +4.8% |
| Other tangible fixed assets | 26 | €1,193 | €795 | -€398 | -33.4% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €64,008 | €56,136 | -€7,872 | -12.3% |
| Amounts receivable within one year | 40/41 | €12,991 | €8,933 | -€4,058 | -31.2% |
| Trade receivables | 40 | €8,851 | - | -€8,851 | |
| Other amounts receivable | 41 | €4,140 | €8,933 | +€4,793 | +115.8% |
| Cash at bank and in hand | 54/58 | €49,796 | €44,340 | -€5,456 | -11.0% |
| Deferred charges and accrued income | 490/1 | €1,221 | €2,863 | +€1,642 | +134.6% |
| Total equity and liabilities | 10/49 | €103,315 | €96,269 | -€7,046 | -6.8% |
| Equity | 10/15 | €80,904 | €79,213 | -€1,691 | -2.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €12,206 | €12,206 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €12,206 | €10,346 | -€1,860 | -15.2% |
| Profit (loss) carried forward | 14 | €62,498 | €60,807 | -€1,691 | -2.7% |
| Amounts payable | 17/49 | €22,411 | €17,056 | -€5,355 | -23.9% |
| Amounts payable after more than one year | 17 | €10,330 | €6,636 | -€3,694 | -35.8% |
| Financial debts | 170/4 | €10,330 | €6,636 | -€3,694 | -35.8% |
| Amounts payable within one year | 42/48 | €11,727 | €10,420 | -€1,307 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €6,037 | €6,146 | +€109 | +1.8% |
| Financial debts | 43 | €694 | - | -€694 | |
| Credit institutions | 430/8 | €694 | - | -€694 | |
| Trade debts | 44 | €93 | €1,189 | +€1,096 | +1171.8% |
| Suppliers | 440/4 | €93 | €1,189 | +€1,096 | +1171.8% |
| Taxes, remuneration and social security | 45 | €4,902 | €2,523 | -€2,379 | -48.5% |
| Taxes | 450/3 | €4,902 | €2,523 | -€2,379 | -48.5% |
| Other amounts payable | 47/48 | - | €562 | +€562 | |
| Accrued charges and deferred income | 492/3 | €354 | - | -€354 | |
| Remuneration, social security and pensions | 62 | - | €1,334 | +€1,334 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,596 | €9,200 | -€5,396 | -37.0% |
| Other operating charges | 640/8 | €806 | €9,745 | +€8,939 | +1109.0% |
| Gross operating margin | 9900 | €11,770 | €19,592 | +€7,822 | +66.5% |
| Operating profit (loss) | 9901 | -€3,632 | -€687 | +€2,945 | +81.1% |
| Financial income | 75/76B | €240 | €78 | -€162 | -67.4% |
| Recurring financial income | 75 | €240 | €78 | -€162 | -67.4% |
| Financial charges | 65/66B | €553 | €611 | +€58 | +10.6% |
| Recurring financial charges | 65 | €553 | €611 | +€58 | +10.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,945 | -€1,220 | +€2,725 | +69.1% |
| Income taxes | 67/77 | €1,756 | €471 | -€1,285 | -73.2% |
| Profit (loss) for the period | 9904 | -€5,701 | -€1,691 | +€4,010 | +70.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,701 | -€1,691 | +€4,010 | +70.3% |
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.