PHILIPPE DEDOBBELEER: 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 DEDOBBELEER
Largest movements
- Cash +€127,027
up €127,027 (+76.4%), from €166,277 to €293,304
mainly Net result for the year (+€257,058) and Current investments (+€40,000)
- Current investments -€40,000
no longer reported in 2025 (was €40,000)
- Tangible fixed assets -€20,430
down €20,430 (-5.3%), from €383,437 to €363,007
of which Land and buildings: -€10,666
- Receivables within one year -€7,271
down €7,271 (-92.5%), from €7,864 to €593
- Profit (loss) carried forward +€82,058
up €82,058 (+26.7%), from €307,356 to €389,414
- Debts after one year -€15,075
down €15,075 (-19.1%), from €78,852 to €63,777
- Tax, wage and social debts +€14,195
up €14,195 (+17.7%), from €80,320 to €94,515
- Other debts -€13,250
down €13,250 (-15.6%), from €85,000 to €71,750
- Current portion of long-term debt -€7,702
down €7,702 (-32.1%), from €24,023 to €16,322
- Gross operating margin +€44,491
up €44,491 (+13.5%), from €328,413 to €372,904
- Taxes +€13,478
up €13,478 (+18.1%), from €74,517 to €87,994
- Depreciation -€4,650
down €4,650 (-19.2%), from €24,270 to €19,620
- Other operating charges +€3,900
up €3,900 (+146%), from €2,680 to €6,580
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 | €601,649 | €660,416 | +€58,766 | +9.8% |
| Fixed assets | 21/28 | €383,437 | €363,007 | -€20,430 | -5.3% |
| Tangible fixed assets | 22/27 | €383,437 | €363,007 | -€20,430 | -5.3% |
| Land and buildings | 22 | €335,914 | €325,248 | -€10,666 | -3.2% |
| Plant, machinery and equipment | 23 | €296 | €127 | -€169 | -57.1% |
| Furniture and vehicles | 24 | €47,227 | €37,632 | -€9,595 | -20.3% |
| Current assets | 29/58 | €218,213 | €297,409 | +€79,196 | +36.3% |
| Amounts receivable within one year | 40/41 | €7,864 | €593 | -€7,271 | -92.5% |
| Other amounts receivable | 41 | €7,864 | €593 | -€7,271 | -92.5% |
| Current investments | 50/53 | €40,000 | - | -€40,000 | |
| Cash at bank and in hand | 54/58 | €166,277 | €293,304 | +€127,027 | +76.4% |
| Deferred charges and accrued income | 490/1 | €4,072 | €3,512 | -€560 | -13.7% |
| Total equity and liabilities | 10/49 | €601,649 | €660,416 | +€58,766 | +9.8% |
| Equity | 10/15 | €327,816 | €409,874 | +€82,058 | +25.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €307,356 | €389,414 | +€82,058 | +26.7% |
| Amounts payable | 17/49 | €273,834 | €250,542 | -€23,291 | -8.5% |
| Amounts payable after more than one year | 17 | €78,852 | €63,777 | -€15,075 | -19.1% |
| Financial debts | 170/4 | €78,852 | €63,777 | -€15,075 | -19.1% |
| Amounts payable within one year | 42/48 | €194,872 | €186,639 | -€8,232 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €24,023 | €16,322 | -€7,702 | -32.1% |
| Trade debts | 44 | €5,529 | €4,052 | -€1,476 | -26.7% |
| Suppliers | 440/4 | €5,529 | €4,052 | -€1,476 | -26.7% |
| Taxes, remuneration and social security | 45 | €80,320 | €94,515 | +€14,195 | +17.7% |
| Taxes | 450/3 | €80,320 | €94,515 | +€14,195 | +17.7% |
| Other amounts payable | 47/48 | €85,000 | €71,750 | -€13,250 | -15.6% |
| Accrued charges and deferred income | 492/3 | €110 | €126 | +€16 | +14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,270 | €19,620 | -€4,650 | -19.2% |
| Other operating charges | 640/8 | €2,680 | €6,580 | +€3,900 | +146% |
| Gross operating margin | 9900 | €328,413 | €372,904 | +€44,491 | +13.5% |
| Operating profit (loss) | 9901 | €301,463 | €346,704 | +€45,241 | +15.0% |
| Financial income | 75/76B | €1,879 | €775 | -€1,104 | -58.8% |
| Recurring financial income | 75 | €1,879 | €775 | -€1,104 | -58.8% |
| Financial charges | 65/66B | €3,593 | €2,427 | -€1,166 | -32.5% |
| Recurring financial charges | 65 | €3,593 | €2,427 | -€1,166 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €299,749 | €345,052 | +€45,303 | +15.1% |
| Income taxes | 67/77 | €74,517 | €87,994 | +€13,478 | +18.1% |
| Profit (loss) for the period | 9904 | €225,232 | €257,058 | +€31,825 | +14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €225,232 | €257,058 | +€31,825 | +14.1% |
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 21 October 2026 via checked.be.