PHILIPPE D. PHOTOGRAPHY: 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 D. PHOTOGRAPHY
Largest movements
- Tangible fixed assets -€13,526
down €13,526 (-4.2%), from €319,296 to €305,770
of which Land and buildings: -€11,963
- Receivables within one year +€7,161
up €7,161 (+23.5%), from €30,494 to €37,655
of which Trade receivables: +€5,482
- Cash -€6,536
down €6,536 (-4.8%), from €136,099 to €129,563
mainly Current portion of long-term debt (-€18,520) and Investment in fixed assets (net) (-€9,390)
- Current portion of long-term debt -€18,520
down €18,520 (-100%), from €18,520 to €0
- Trade debts +€15,719
up €15,719 (+147%), from €10,698 to €26,418
- Gross operating margin -€22,414
down €22,414 (-48.8%), from €45,937 to €23,523
- Taxes -€7,696
down €7,696 (-89.4%), from €8,607 to €911
- Depreciation +€973
up €973 (+4.4%), from €21,944 to €22,916
- Other operating charges +€781
up €781 (+30.4%), from €2,572 to €3,354
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 | €488,345 | €475,115 | -€13,230 | -2.7% |
| Fixed assets | 21/28 | €319,296 | €305,770 | -€13,526 | -4.2% |
| Tangible fixed assets | 22/27 | €319,296 | €305,770 | -€13,526 | -4.2% |
| Land and buildings | 22 | €282,611 | €270,648 | -€11,963 | -4.2% |
| Plant, machinery and equipment | 23 | €7,905 | €12,364 | +€4,459 | +56.4% |
| Furniture and vehicles | 24 | €28,780 | €22,758 | -€6,022 | -20.9% |
| Current assets | 29/58 | €169,048 | €169,345 | +€297 | +0.2% |
| Amounts receivable within one year | 40/41 | €30,494 | €37,655 | +€7,161 | +23.5% |
| Trade receivables | 40 | €30,494 | €35,976 | +€5,482 | +18.0% |
| Other amounts receivable | 41 | €0 | €1,679 | +€1,679 | |
| Cash at bank and in hand | 54/58 | €136,099 | €129,563 | -€6,536 | -4.8% |
| Deferred charges and accrued income | 490/1 | €2,456 | €2,127 | -€329 | -13.4% |
| Total equity and liabilities | 10/49 | €488,345 | €475,115 | -€13,230 | -2.7% |
| Equity | 10/15 | €327,289 | €323,935 | -€3,354 | -1.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €101,483 | €100,604 | -€878 | -0.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,323 | €11,444 | -€878 | -7.1% |
| Distributable reserves | 133 | €87,300 | €87,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €219,606 | €217,131 | -€2,476 | -1.1% |
| Provisions and deferred taxes | 16 | €4,108 | €3,815 | -€293 | -7.1% |
| Deferred taxes | 168 | €4,108 | €3,815 | -€293 | -7.1% |
| Amounts payable | 17/49 | €156,948 | €147,365 | -€9,583 | -6.1% |
| Amounts payable within one year | 42/48 | €152,428 | €147,365 | -€5,063 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €18,520 | €0 | -€18,520 | -100% |
| Financial debts | 43 | €877 | €872 | -€5 | -0.6% |
| Credit institutions | 430/8 | €877 | €872 | -€5 | -0.6% |
| Trade debts | 44 | €10,698 | €26,418 | +€15,719 | +147% |
| Suppliers | 440/4 | €10,698 | €26,418 | +€15,719 | +147% |
| Taxes, remuneration and social security | 45 | €9,007 | €6,504 | -€2,503 | -27.8% |
| Taxes | 450/3 | €9,007 | €6,504 | -€2,503 | -27.8% |
| Other amounts payable | 47/48 | €113,325 | €113,571 | +€246 | +0.2% |
| Accrued charges and deferred income | 492/3 | €4,520 | €0 | -€4,520 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,944 | €22,916 | +€973 | +4.4% |
| Other operating charges | 640/8 | €2,572 | €3,354 | +€781 | +30.4% |
| Gross operating margin | 9900 | €45,937 | €23,523 | -€22,414 | -48.8% |
| Operating profit (loss) | 9901 | €21,421 | -€2,746 | -€24,168 | |
| Financial income | 75/76B | €131 | €383 | +€252 | +193% |
| Recurring financial income | 75 | €131 | €383 | +€252 | +193% |
| Financial charges | 65/66B | €664 | €372 | -€292 | -44.0% |
| Recurring financial charges | 65 | €664 | €372 | -€292 | -44.0% |
| Profit (loss) for the period before taxes | 9903 | €20,888 | -€2,735 | -€23,623 | |
| Transfer from deferred taxes | 780 | €293 | €293 | = | 0.0% |
| Income taxes | 67/77 | €8,607 | €911 | -€7,696 | -89.4% |
| Profit (loss) for the period | 9904 | €12,574 | -€3,354 | -€15,928 | |
| Transfer from tax-exempt reserves | 789 | €878 | €878 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,452 | -€2,476 | -€15,928 |
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 27 October 2026 via checked.be.