Philippe de Selliers: 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 Selliers
Largest movements
- Current investments +€135,000
new in 2025: €135,000
- Cash -€52,164
down €52,164 (-76.3%), from €68,360 to €16,196
mainly Contributions, distributions and other (-€619,000) and Current investments (-€135,000)
- Receivables within one year -€37,379
down €37,379 (-63.1%), from €59,241 to €21,862
of which Trade receivables: -€47,817
- Tangible fixed assets -€10,571
down €10,571 (-22.7%), from €46,544 to €35,973
of which Other tangible fixed assets: -€8,372
- Other debts +€410,969
up €410,969 (+247%), from €166,291 to €577,259
- Profit (loss) carried forward -€372,010
down €372,010 (-100.0%), from €372,181 to €171
- Tax, wage and social debts -€15,236
down €15,236 (-34.0%), from €44,796 to €29,560
- Accrued charges and deferred income +€8,612
up €8,612 (+15.4%), from €56,032 to €64,644
- Gross operating margin -€168,367
down €168,367 (-31.9%), from €527,387 to €359,020
- Taxes -€38,519
down €38,519 (-30.0%), from €128,408 to €89,889
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 | €659,897 | €697,967 | +€38,070 | +5.8% |
| Fixed assets | 21/28 | €527,167 | €516,596 | -€10,571 | -2.0% |
| Tangible fixed assets | 22/27 | €46,544 | €35,973 | -€10,571 | -22.7% |
| Furniture and vehicles | 24 | €4,387 | €2,188 | -€2,199 | -50.1% |
| Other tangible fixed assets | 26 | €42,157 | €33,785 | -€8,372 | -19.9% |
| Financial fixed assets | 28 | €480,623 | €480,623 | = | 0.0% |
| Current assets | 29/58 | €132,730 | €181,372 | +€48,641 | +36.6% |
| Amounts receivable within one year | 40/41 | €59,241 | €21,862 | -€37,379 | -63.1% |
| Trade receivables | 40 | €52,229 | €4,412 | -€47,817 | -91.6% |
| Other amounts receivable | 41 | €7,012 | €17,449 | +€10,438 | +149% |
| Current investments | 50/53 | - | €135,000 | +€135,000 | |
| Cash at bank and in hand | 54/58 | €68,360 | €16,196 | -€52,164 | -76.3% |
| Deferred charges and accrued income | 490/1 | €5,129 | €8,314 | +€3,185 | +62.1% |
| Total equity and liabilities | 10/49 | €659,897 | €697,967 | +€38,070 | +5.8% |
| Equity | 10/15 | €392,641 | €20,631 | -€372,010 | -94.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €372,181 | €171 | -€372,010 | -100.0% |
| Amounts payable | 17/49 | €267,256 | €677,336 | +€410,080 | +153% |
| Amounts payable within one year | 42/48 | €211,224 | €612,693 | +€401,468 | +190% |
| Trade debts | 44 | €138 | €5,873 | +€5,736 | +4,163% |
| Suppliers | 440/4 | €138 | €5,873 | +€5,736 | +4,163% |
| Taxes, remuneration and social security | 45 | €44,796 | €29,560 | -€15,236 | -34.0% |
| Taxes | 450/3 | €44,796 | €29,560 | -€15,236 | -34.0% |
| Other amounts payable | 47/48 | €166,291 | €577,259 | +€410,969 | +247% |
| Accrued charges and deferred income | 492/3 | €56,032 | €64,644 | +€8,612 | +15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,573 | €10,571 | -€1,002 | -8.7% |
| Other operating charges | 640/8 | €2,613 | €2,703 | +€91 | +3.5% |
| Gross operating margin | 9900 | €527,387 | €359,020 | -€168,367 | -31.9% |
| Operating profit (loss) | 9901 | €513,201 | €345,745 | -€167,456 | -32.6% |
| Financial income | 75/76B | €1,392 | €1,098 | -€293 | -21.1% |
| Recurring financial income | 75 | €1,392 | €1,098 | -€293 | -21.1% |
| Financial charges | 65/66B | €14,061 | €9,964 | -€4,096 | -29.1% |
| Recurring financial charges | 65 | €14,061 | €9,964 | -€4,096 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €500,532 | €336,879 | -€163,653 | -32.7% |
| Income taxes | 67/77 | €128,408 | €89,889 | -€38,519 | -30.0% |
| Profit (loss) for the period | 9904 | €372,124 | €246,990 | -€125,134 | -33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €372,124 | €246,990 | -€125,134 | -33.6% |
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 24 October 2026 via checked.be.