Philippe Deroose: 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 Deroose
Largest movements
- Cash +€135,634
up €135,634 (+21.1%), from €643,160 to €778,794
mainly Net result for the year (+€248,392) and Other debts (+€248,392)
- Tangible fixed assets -€33,625
down €33,625 (-27.6%), from €121,779 to €88,154
of which Furniture and vehicles: -€29,731
- Other debts +€248,392
new in 2025: €248,392
- Tax, wage and social debts -€78,769
down €78,769 (-79.9%), from €98,583 to €19,815
of which Taxes: -€78,769
- Debts after one year -€29,188
down €29,188 (-42.5%), from €68,656 to €39,468
- Current portion of long-term debt -€27,969
down €27,969 (-48.9%), from €57,157 to €29,188
- Gross operating margin +€79,654
up €79,654 (+29.1%), from €273,306 to €352,960
- Financial income +€8,694
up €8,694 (+62.9%), from €13,828 to €22,522
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 | €773,544 | €883,912 | +€110,367 | +14.3% |
| Fixed assets | 21/28 | €121,779 | €88,154 | -€33,625 | -27.6% |
| Tangible fixed assets | 22/27 | €121,779 | €88,154 | -€33,625 | -27.6% |
| Plant, machinery and equipment | 23 | €9,082 | €6,321 | -€2,761 | -30.4% |
| Furniture and vehicles | 24 | €110,349 | €80,618 | -€29,731 | -26.9% |
| Other tangible fixed assets | 26 | €2,348 | €1,215 | -€1,133 | -48.3% |
| Current assets | 29/58 | €651,765 | €795,758 | +€143,993 | +22.1% |
| Amounts receivable within one year | 40/41 | €4,385 | €11,640 | +€7,254 | +165% |
| Other amounts receivable | 41 | €4,385 | €11,640 | +€7,254 | +165% |
| Cash at bank and in hand | 54/58 | €643,160 | €778,794 | +€135,634 | +21.1% |
| Deferred charges and accrued income | 490/1 | €4,220 | €5,325 | +€1,105 | +26.2% |
| Total equity and liabilities | 10/49 | €773,544 | €883,912 | +€110,367 | +14.3% |
| Equity | 10/15 | €537,507 | €537,507 | = | 0.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €527,507 | €527,507 | = | 0.0% |
| Distributable reserves | 133 | €527,507 | €527,507 | = | 0.0% |
| Amounts payable | 17/49 | €236,038 | €346,405 | +€110,367 | +46.8% |
| Amounts payable after more than one year | 17 | €68,656 | €39,468 | -€29,188 | -42.5% |
| Financial debts | 170/4 | €68,656 | €39,468 | -€29,188 | -42.5% |
| Amounts payable within one year | 42/48 | €167,382 | €306,571 | +€139,189 | +83.2% |
| Current portion of amounts payable after more than one year | 42 | €57,157 | €29,188 | -€27,969 | -48.9% |
| Trade debts | 44 | €11,642 | €9,176 | -€2,466 | -21.2% |
| Suppliers | 440/4 | €11,642 | €9,176 | -€2,466 | -21.2% |
| Taxes, remuneration and social security | 45 | €98,583 | €19,815 | -€78,769 | -79.9% |
| Taxes | 450/3 | €97,083 | €18,315 | -€78,769 | -81.1% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | - | €248,392 | +€248,392 | |
| Accrued charges and deferred income | 492/3 | - | €367 | +€367 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,038 | €40,991 | +€953 | +2.4% |
| Other operating charges | 640/8 | €853 | €655 | -€199 | -23.3% |
| Gross operating margin | 9900 | €273,306 | €352,960 | +€79,654 | +29.1% |
| Operating profit (loss) | 9901 | €232,415 | €311,314 | +€78,899 | +33.9% |
| Financial income | 75/76B | €13,828 | €22,522 | +€8,694 | +62.9% |
| Recurring financial income | 75 | €13,828 | €22,522 | +€8,694 | +62.9% |
| Financial charges | 65/66B | €5,027 | €2,998 | -€2,029 | -40.4% |
| Recurring financial charges | 65 | €5,027 | €2,998 | -€2,029 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | €241,216 | €330,838 | +€89,622 | +37.2% |
| Income taxes | 67/77 | €85,840 | €82,446 | -€3,394 | -4.0% |
| Profit (loss) for the period | 9904 | €155,375 | €248,392 | +€93,017 | +59.9% |
| Profit (loss) for the period to be appropriated | 9905 | €155,375 | €248,392 | +€93,017 | +59.9% |
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 25 October 2026 via checked.be.