Philippe DEKOSTER: 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 DEKOSTER
Largest movements
- Cash -€26,490
down €26,490 (-37.3%), from €70,946 to €44,456
mainly Contributions, distributions and other (-€22,108) and Debts after one year (-€20,801)
- Receivables within one year -€26,374
down €26,374 (-93.8%), from €28,120 to €1,746
of which Trade receivables: -€27,463
- Tangible fixed assets -€11,976
down €11,976 (-4.6%), from €261,912 to €249,937
of which Land and buildings: -€9,784
- Reserves -€22,108
down €22,108 (-11.2%), from €197,206 to €175,098
- Debts after one year -€20,801
no longer reported in 2025 (was €20,801)
- Profit (loss) carried forward -€8,514
down €8,514 (-3.4%), from €253,822 to €245,309
- Gross operating margin -€97,769
down €97,769 (-87.5%), from €111,712 to €13,943
- Taxes -€24,515
down €24,515 (-99.5%), from €24,647 to €132
- Financial charges -€1,800
down €1,800 (-56.5%), from €3,184 to €1,384
- Financial income +€1,533
up €1,533 (+60.4%), from €2,537 to €4,070
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 | €577,338 | €511,786 | -€65,552 | -11.4% |
| Fixed assets | 21/28 | €261,912 | €249,937 | -€11,976 | -4.6% |
| Tangible fixed assets | 22/27 | €261,912 | €249,937 | -€11,976 | -4.6% |
| Land and buildings | 22 | €195,105 | €185,321 | -€9,784 | -5.0% |
| Plant, machinery and equipment | 23 | €2,115 | €1,424 | -€692 | -32.7% |
| Furniture and vehicles | 24 | €16,061 | €6,995 | -€9,066 | -56.4% |
| Other tangible fixed assets | 26 | €48,631 | €56,197 | +€7,566 | +15.6% |
| Current assets | 29/58 | €315,426 | €261,850 | -€53,576 | -17.0% |
| Amounts receivable within one year | 40/41 | €28,120 | €1,746 | -€26,374 | -93.8% |
| Trade receivables | 40 | €28,120 | €657 | -€27,463 | -97.7% |
| Other amounts receivable | 41 | - | €1,089 | +€1,089 | |
| Current investments | 50/53 | €213,000 | €213,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €70,946 | €44,456 | -€26,490 | -37.3% |
| Deferred charges and accrued income | 490/1 | €3,360 | €2,648 | -€712 | -21.2% |
| Total equity and liabilities | 10/49 | €577,338 | €511,786 | -€65,552 | -11.4% |
| Equity | 10/15 | €463,428 | €432,807 | -€30,621 | -6.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €197,206 | €175,098 | -€22,108 | -11.2% |
| Non-distributable reserves | 130/1 | €197,206 | €175,098 | -€22,108 | -11.2% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €195,346 | €173,238 | -€22,108 | -11.3% |
| Profit (loss) carried forward | 14 | €253,822 | €245,309 | -€8,514 | -3.4% |
| Amounts payable | 17/49 | €113,910 | €78,980 | -€34,930 | -30.7% |
| Amounts payable after more than one year | 17 | €20,801 | - | -€20,801 | |
| Financial debts | 170/4 | €20,801 | - | -€20,801 | |
| Amounts payable within one year | 42/48 | €93,109 | €78,980 | -€14,130 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | €22,692 | €20,801 | -€1,891 | -8.3% |
| Trade debts | 44 | €1,654 | €46 | -€1,609 | -97.2% |
| Suppliers | 440/4 | €1,654 | €46 | -€1,609 | -97.2% |
| Taxes, remuneration and social security | 45 | €17,992 | €13,025 | -€4,967 | -27.6% |
| Taxes | 450/3 | €17,992 | €13,025 | -€4,967 | -27.6% |
| Other amounts payable | 47/48 | €50,772 | €45,108 | -€5,663 | -11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,020 | €22,056 | +€1,036 | +4.9% |
| Other operating charges | 640/8 | €3,205 | €2,955 | -€250 | -7.8% |
| Gross operating margin | 9900 | €111,712 | €13,943 | -€97,769 | -87.5% |
| Operating profit (loss) | 9901 | €87,488 | -€11,068 | -€98,555 | |
| Financial income | 75/76B | €2,537 | €4,070 | +€1,533 | +60.4% |
| Recurring financial income | 75 | €2,537 | €4,070 | +€1,533 | +60.4% |
| Financial charges | 65/66B | €3,184 | €1,384 | -€1,800 | -56.5% |
| Recurring financial charges | 65 | €3,184 | €1,384 | -€1,800 | -56.5% |
| Profit (loss) for the period before taxes | 9903 | €86,841 | -€8,382 | -€95,222 | |
| Income taxes | 67/77 | €24,647 | €132 | -€24,515 | -99.5% |
| Profit (loss) for the period | 9904 | €62,193 | -€8,514 | -€70,707 | |
| Profit (loss) for the period to be appropriated | 9905 | €62,193 | -€8,514 | -€70,707 |
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.