Philippe De Jaegere: 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 De Jaegere
Largest movements
- Cash +€52,370
up €52,370 (+149%), from €35,174 to €87,544
mainly Other debts (+€119,737) and Net result for the year (+€62,550)
- Receivables within one year +€27,909
up €27,909 (+579%), from €4,820 to €32,729
of which Other amounts receivable: +€31,766
- Tangible fixed assets -€12,277
down €12,277 (-26.6%), from €46,145 to €33,868
- Other debts +€119,737
up €119,737 (+9,847%), from €1,216 to €120,953
- Reserves -€58,404
down €58,404 (-25.1%), from €233,069 to €174,666
- Tax, wage and social debts +€7,125
up €7,125 (+220%), from €3,232 to €10,357
- Gross operating margin +€34,079
up €34,079 (+67.8%), from €50,278 to €84,357
- Financial income +€12,590
up €12,590 (+5,798%), from €217 to €12,807
- Taxes +€9,624
up €9,624 (+83.0%), from €11,600 to €21,224
- Financial charges -€1,919
down €1,919 (-76.6%), from €2,504 to €585
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 | €240,464 | €308,525 | +€68,061 | +28.3% |
| Fixed assets | 21/28 | €46,145 | €33,868 | -€12,277 | -26.6% |
| Tangible fixed assets | 22/27 | €46,145 | €33,868 | -€12,277 | -26.6% |
| Furniture and vehicles | 24 | €46,145 | €33,868 | -€12,277 | -26.6% |
| Current assets | 29/58 | €194,319 | €274,657 | +€80,338 | +41.3% |
| Amounts receivable within one year | 40/41 | €4,820 | €32,729 | +€27,909 | +579% |
| Trade receivables | 40 | €3,857 | €0 | -€3,857 | -100% |
| Other amounts receivable | 41 | €963 | €32,729 | +€31,766 | +3,299% |
| Current investments | 50/53 | €152,605 | €152,605 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €35,174 | €87,544 | +€52,370 | +149% |
| Deferred charges and accrued income | 490/1 | €1,720 | €1,779 | +€59 | +3.4% |
| Total equity and liabilities | 10/49 | €240,464 | €308,525 | +€68,061 | +28.3% |
| Equity | 10/15 | €235,569 | €177,166 | -€58,404 | -24.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €233,069 | €174,666 | -€58,404 | -25.1% |
| Distributable reserves | 133 | €233,069 | €174,666 | -€58,404 | -25.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €4,895 | €131,359 | +€126,464 | +2,584% |
| Amounts payable within one year | 42/48 | €4,895 | €131,359 | +€126,464 | +2,584% |
| Trade debts | 44 | €447 | €49 | -€398 | -89.0% |
| Suppliers | 440/4 | €447 | €49 | -€398 | -89.0% |
| Taxes, remuneration and social security | 45 | €3,232 | €10,357 | +€7,125 | +220% |
| Taxes | 450/3 | €3,232 | €10,357 | +€7,125 | +220% |
| Other amounts payable | 47/48 | €1,216 | €120,953 | +€119,737 | +9,847% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,408 | €12,277 | -€131 | -1.1% |
| Other operating charges | 640/8 | €547 | €528 | -€20 | -3.6% |
| Gross operating margin | 9900 | €50,278 | €84,357 | +€34,079 | +67.8% |
| Operating profit (loss) | 9901 | €37,323 | €71,552 | +€34,229 | +91.7% |
| Financial income | 75/76B | €217 | €12,807 | +€12,590 | +5,798% |
| Recurring financial income | 75 | €217 | €12,807 | +€12,590 | +5,798% |
| Financial charges | 65/66B | €2,504 | €585 | -€1,919 | -76.6% |
| Recurring financial charges | 65 | €2,504 | €585 | -€1,919 | -76.6% |
| Profit (loss) for the period before taxes | 9903 | €35,036 | €83,774 | +€48,738 | +139% |
| Income taxes | 67/77 | €11,600 | €21,224 | +€9,624 | +83.0% |
| Profit (loss) for the period | 9904 | €23,436 | €62,550 | +€39,114 | +167% |
| Profit (loss) for the period to be appropriated | 9905 | €23,436 | €62,550 | +€39,114 | +167% |
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 19 October 2026 via checked.be.