PHILIPPE GALL: 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 GALL
Largest movements
- Cash +€12,456
up €12,456 (+8.2%), from €151,424 to €163,880
mainly Net result for the year (+€37,773) and Other debts (+€8,563)
- Tangible fixed assets -€7,617
down €7,617 (-81.5%), from €9,343 to €1,726
of which Furniture and vehicles: -€7,404
- Receivables within one year -€6,228
down €6,228 (-93.0%), from €6,697 to €468
of which Trade receivables: -€6,149
- Tax, wage and social debts -€14,446
down €14,446 (-48.0%), from €30,116 to €15,669
- Reserves +€9,643
up €9,643 (+11.4%), from €84,836 to €94,479
of which Distributable reserves: +€9,643
- Other debts +€8,563
up €8,563 (+34.1%), from €25,113 to €33,676
- Current portion of long-term debt -€3,674
down €3,674 (-48.2%), from €7,620 to €3,946
- Turnover -€25,235
down €25,235 (-21.9%), from €114,993 to €89,758
- Gross operating margin -€17,091
down €17,091 (-20.4%), from €83,583 to €66,492
- Purchases and services -€8,194
down €8,194 (-23.4%), from €35,081 to €26,888
- Taxes -€2,150
down €2,150 (-9.7%), from €22,132 to €19,982
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 | €167,702 | €166,370 | -€1,332 | -0.8% |
| Fixed assets | 21/28 | €9,343 | €1,726 | -€7,617 | -81.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €9,343 | €1,726 | -€7,617 | -81.5% |
| Furniture and vehicles | 24 | €8,520 | €1,116 | -€7,404 | -86.9% |
| Other tangible fixed assets | 26 | €823 | €611 | -€212 | -25.8% |
| Current assets | 29/58 | €158,359 | €164,644 | +€6,285 | +4.0% |
| Amounts receivable within one year | 40/41 | €6,697 | €468 | -€6,228 | -93.0% |
| Trade receivables | 40 | €6,617 | €468 | -€6,149 | -92.9% |
| Other amounts receivable | 41 | €79 | €0 | -€79 | -100.0% |
| Cash at bank and in hand | 54/58 | €151,424 | €163,880 | +€12,456 | +8.2% |
| Deferred charges and accrued income | 490/1 | €238 | €295 | +€57 | +23.8% |
| Total equity and liabilities | 10/49 | €167,702 | €166,370 | -€1,332 | -0.8% |
| Equity | 10/15 | €103,436 | €113,079 | +€9,643 | +9.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €84,836 | €94,479 | +€9,643 | +11.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €82,976 | €92,619 | +€9,643 | +11.6% |
| Amounts payable | 17/49 | €64,266 | €53,291 | -€10,975 | -17.1% |
| Amounts payable after more than one year | 17 | €1,279 | €0 | -€1,279 | -100.0% |
| Financial debts | 170/4 | €1,279 | €0 | -€1,279 | -100.0% |
| Amounts payable within one year | 42/48 | €62,987 | €53,291 | -€9,695 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €7,620 | €3,946 | -€3,674 | -48.2% |
| Trade debts | 44 | €138 | €0 | -€138 | -100.0% |
| Suppliers | 440/4 | €138 | €0 | -€138 | -100.0% |
| Taxes, remuneration and social security | 45 | €30,116 | €15,669 | -€14,446 | -48.0% |
| Taxes | 450/3 | €30,116 | €15,669 | -€14,446 | -48.0% |
| Other amounts payable | 47/48 | €25,113 | €33,676 | +€8,563 | +34.1% |
| Turnover | 70 | €114,993 | €89,758 | -€25,235 | -21.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €35,081 | €26,888 | -€8,194 | -23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,617 | €7,617 | = | 0.0% |
| Other operating charges | 640/8 | €788 | €749 | -€38 | -4.9% |
| Gross operating margin | 9900 | €83,583 | €66,492 | -€17,091 | -20.4% |
| Operating profit (loss) | 9901 | €75,179 | €58,126 | -€17,053 | -22.7% |
| Financial income | 75/76B | €42 | €11 | -€31 | -74.3% |
| Recurring financial income | 75 | €42 | €11 | -€31 | -74.3% |
| Financial charges | 65/66B | €271 | €382 | +€111 | +40.8% |
| Recurring financial charges | 65 | €271 | €382 | +€111 | +40.8% |
| Profit (loss) for the period before taxes | 9903 | €74,949 | €57,755 | -€17,195 | -22.9% |
| Income taxes | 67/77 | €22,132 | €19,982 | -€2,150 | -9.7% |
| Profit (loss) for the period | 9904 | €52,817 | €37,773 | -€15,045 | -28.5% |
| Profit (loss) for the period to be appropriated | 9905 | €52,817 | €37,773 | -€15,045 | -28.5% |
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 4 October 2026 via checked.be.