PHILIPPE F. WINSSINGER: 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.
What changed
PHILIPPE F. WINSSINGER
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€5,488
2024 · €110,407-€104,920
Equity
€11.6m
2024 · €11.6m+€5,488
Cash
€49,108
2024 · €27,904+€21,204
Balance sheet total
€13.3m
2024 · €13.6m-€234,962
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Current portion of long-term debt -€500,000
down €500,000 (-90.4%), from €553,333 to €53,333
- Debts after one year +€246,667
up €246,667 (+17.8%), from €1.4m to €1.6m
Income statement
- Financial income -€170,783
down €170,783 (-46.5%), from €367,378 to €196,595
of which Non-recurring financial income: -€160,316
- Taxes +€89,492
up €89,492 (+515%), from €17,361 to €106,853
- Gross operating margin +€38,374
up €38,374, from -€3,118 to €35,256
- Financial charges +€28,792
up €28,792 (+87.4%), from €32,957 to €61,749
- Depreciation +€10,169
up €10,169 (+32.3%), from €31,474 to €41,642
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.
Result 2024
€110,407
Gross operating margin
+€38,374
Depreciation
-€10,169
Other operating charges
-€8,928
Other operating items
+€164,869
Financial income
-€170,783
Financial charges
-€28,792
Taxes
-€89,492
Result 2025
€5,488
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€193,558
Investment
+€80,979
Financing
-€253,333
Cash 2024
€27,904
From operations (derived)
+€193,558
Net result for the year
+€5,488
Depreciation
+€41,642
Receivables within one year
+€96,591
Deferred charges and accrued income
+€36,954
Trade debts
-€17,293
Other debts
-€1,030
Accrued charges and deferred income
+€31,207
Investment (derived)
+€80,979
Investment in fixed assets (net)
+€979
Current investments
+€80,000
Financing
-€253,333
Debts after one year
+€246,667
Current portion of long-term debt
-€500,000
Cash 2025
€49,108
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,579,478 | €13,344,515 | -€234,962 | -1.7% |
| Fixed assets | 21/28 | €13,248,443 | €13,205,821 | -€42,622 | -0.3% |
| Tangible fixed assets | 22/27 | €853,399 | €888,477 | +€35,078 | +4.1% |
| Land and buildings | 22 | €740,868 | €721,038 | -€19,831 | -2.7% |
| Furniture and vehicles | 24 | €2,306 | €76,935 | +€74,628 | +3,236% |
| Other tangible fixed assets | 26 | €101,585 | €90,505 | -€11,080 | -10.9% |
| Assets under construction and advance payments | 27 | €8,640 | €0 | -€8,640 | -100% |
| Financial fixed assets | 28 | €12,395,044 | €12,317,344 | -€77,700 | -0.6% |
| Current assets | 29/58 | €331,034 | €138,694 | -€192,341 | -58.1% |
| Amounts receivable within one year | 40/41 | €160,531 | €63,940 | -€96,591 | -60.2% |
| Trade receivables | 40 | €34,325 | €30,394 | -€3,931 | -11.5% |
| Other amounts receivable | 41 | €126,206 | €33,546 | -€92,660 | -73.4% |
| Current investments | 50/53 | €80,000 | €0 | -€80,000 | -100% |
| Cash at bank and in hand | 54/58 | €27,904 | €49,108 | +€21,204 | +76.0% |
| Deferred charges and accrued income | 490/1 | €62,600 | €25,646 | -€36,954 | -59.0% |
| Total equity and liabilities | 10/49 | €13,579,478 | €13,344,515 | -€234,962 | -1.7% |
| Equity | 10/15 | €11,570,648 | €11,576,136 | +€5,488 | 0.0% |
| Contributions | 10/11 | €1,315,120 | €1,315,120 | = | 0.0% |
| Reserves | 13 | €1,024,291 | €1,024,291 | = | 0.0% |
| Distributable reserves | 133 | €1,024,291 | €1,024,291 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,231,237 | €9,236,725 | +€5,488 | +0.1% |
| Amounts payable | 17/49 | €2,008,829 | €1,768,379 | -€240,450 | -12.0% |
| Amounts payable after more than one year | 17 | €1,382,223 | €1,628,889 | +€246,667 | +17.8% |
| Financial debts | 170/4 | €1,382,223 | €1,628,889 | +€246,667 | +17.8% |
| Amounts payable within one year | 42/48 | €610,073 | €91,750 | -€518,324 | -85.0% |
| Current portion of amounts payable after more than one year | 42 | €553,333 | €53,333 | -€500,000 | -90.4% |
| Trade debts | 44 | €18,200 | €906 | -€17,293 | -95.0% |
| Suppliers | 440/4 | €18,200 | €906 | -€17,293 | -95.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €38,540 | €37,510 | -€1,030 | -2.7% |
| Accrued charges and deferred income | 492/3 | €16,533 | €47,740 | +€31,207 | +189% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,474 | €41,642 | +€10,169 | +32.3% |
| Other operating charges | 640/8 | €7,192 | €16,120 | +€8,928 | +124% |
| Non-recurring operating charges | 66A | €164,869 | €0 | -€164,869 | -100% |
| Gross operating margin | 9900 | -€3,118 | €35,256 | +€38,374 | |
| Operating profit (loss) | 9901 | -€206,653 | -€22,505 | +€184,147 | +89.1% |
| Financial income | 75/76B | €367,378 | €196,595 | -€170,783 | -46.5% |
| Recurring financial income | 75 | €207,062 | €196,595 | -€10,467 | -5.1% |
| Non-recurring financial income | 76B | €160,316 | €0 | -€160,316 | -100% |
| Financial charges | 65/66B | €32,957 | €61,749 | +€28,792 | +87.4% |
| Recurring financial charges | 65 | €32,957 | €61,749 | +€28,792 | +87.4% |
| Profit (loss) for the period before taxes | 9903 | €127,768 | €112,341 | -€15,428 | -12.1% |
| Income taxes | 67/77 | €17,361 | €106,853 | +€89,492 | +515% |
| Profit (loss) for the period | 9904 | €110,407 | €5,488 | -€104,920 | -95.0% |
| Profit (loss) for the period to be appropriated | 9905 | €110,407 | €5,488 | -€104,920 | -95.0% |
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 28 October 2026 via checked.be.