PHILIPPE DEWEZ: 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 DEWEZ
Largest movements
- Current investments +€95,471
up €95,471 (+13.9%), from €686,280 to €781,751
- Tangible fixed assets +€83,009
up €83,009 (+70.7%), from €117,446 to €200,454
of which Other tangible fixed assets: +€90,215
- Cash +€39,459
up €39,459 (+109%), from €36,105 to €75,564
mainly Net result for the year (+€126,857) and Debts after one year (+€35,840)
- Reserves +€125,000
up €125,000 (+38.2%), from €327,504 to €452,504
- Debts after one year +€35,840
up €35,840 (+38.6%), from €92,918 to €128,758
- Tax, wage and social debts +€23,843
up €23,843 (+495%), from €4,814 to €28,657
- Trade debts +€12,051
up €12,051 (+48.5%), from €24,846 to €36,897
- Other debts +€11,437
up €11,437 (+4.7%), from €245,773 to €257,211
- Financial income +€96,376
up €96,376 (+2,089%), from €4,615 to €100,990
- Gross operating margin +€72,820
up €72,820 (+203%), from €35,807 to €108,627
- Taxes +€45,759
up €45,759 (+895%), from €5,113 to €50,873
- Depreciation +€12,713
up €12,713 (+119%), from €10,664 to €23,376
- Financial charges +€4,415
up €4,415 (+210%), from €2,107 to €6,521
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 | €889,720 | €1,106,228 | +€216,507 | +24.3% |
| Fixed assets | 21/28 | €117,446 | €200,454 | +€83,009 | +70.7% |
| Tangible fixed assets | 22/27 | €117,446 | €200,454 | +€83,009 | +70.7% |
| Plant, machinery and equipment | 23 | €3,157 | €1,740 | -€1,417 | -44.9% |
| Furniture and vehicles | 24 | €15,252 | €9,463 | -€5,788 | -38.0% |
| Other tangible fixed assets | 26 | €99,037 | €189,251 | +€90,215 | +91.1% |
| Current assets | 29/58 | €772,275 | €905,773 | +€133,498 | +17.3% |
| Stocks and contracts in progress | 3 | €500 | - | -€500 | |
| Stocks | 30/36 | €500 | - | -€500 | |
| Amounts receivable within one year | 40/41 | €49,390 | €48,458 | -€931 | -1.9% |
| Trade receivables | 40 | €8,691 | €43,675 | +€34,984 | +403% |
| Other amounts receivable | 41 | €40,698 | €4,783 | -€35,915 | -88.2% |
| Current investments | 50/53 | €686,280 | €781,751 | +€95,471 | +13.9% |
| Cash at bank and in hand | 54/58 | €36,105 | €75,564 | +€39,459 | +109% |
| Total equity and liabilities | 10/49 | €889,720 | €1,106,228 | +€216,507 | +24.3% |
| Equity | 10/15 | €512,627 | €639,485 | +€126,857 | +24.7% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €327,504 | €452,504 | +€125,000 | +38.2% |
| Distributable reserves | 133 | €327,504 | €452,504 | +€125,000 | +38.2% |
| Profit (loss) carried forward | 14 | €164,664 | €166,521 | +€1,857 | +1.1% |
| Amounts payable | 17/49 | €377,093 | €466,743 | +€89,650 | +23.8% |
| Amounts payable after more than one year | 17 | €92,918 | €128,758 | +€35,840 | +38.6% |
| Financial debts | 170/4 | €92,918 | €128,758 | +€35,840 | +38.6% |
| Amounts payable within one year | 42/48 | €284,175 | €337,524 | +€53,349 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €7,083 | €13,100 | +€6,017 | +85.0% |
| Trade debts | 44 | €24,846 | €36,897 | +€12,051 | +48.5% |
| Suppliers | 440/4 | €24,846 | €36,897 | +€12,051 | +48.5% |
| Advances received on contracts in progress | 46 | €1,660 | €1,660 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,814 | €28,657 | +€23,843 | +495% |
| Taxes | 450/3 | €4,814 | €28,657 | +€23,843 | +495% |
| Other amounts payable | 47/48 | €245,773 | €257,211 | +€11,437 | +4.7% |
| Accrued charges and deferred income | 492/3 | - | €461 | +€461 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,664 | €23,376 | +€12,713 | +119% |
| Other operating charges | 640/8 | €2,337 | €1,990 | -€347 | -14.8% |
| Gross operating margin | 9900 | €35,807 | €108,627 | +€72,820 | +203% |
| Operating profit (loss) | 9901 | €22,806 | €83,261 | +€60,454 | +265% |
| Financial income | 75/76B | €4,615 | €100,990 | +€96,376 | +2,089% |
| Recurring financial income | 75 | €4,615 | €100,990 | +€96,376 | +2,089% |
| Financial charges | 65/66B | €2,107 | €6,521 | +€4,415 | +210% |
| Recurring financial charges | 65 | €2,107 | €6,521 | +€4,415 | +210% |
| Profit (loss) for the period before taxes | 9903 | €25,314 | €177,730 | +€152,415 | +602% |
| Income taxes | 67/77 | €5,113 | €50,873 | +€45,759 | +895% |
| Profit (loss) for the period | 9904 | €20,201 | €126,857 | +€106,656 | +528% |
| Profit (loss) for the period to be appropriated | 9905 | €20,201 | €126,857 | +€106,656 | +528% |
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 27 October 2026 via checked.be.