PHILIPPE LENGLEZ: 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 LENGLEZ
Largest movements
- Cash -€43,998
down €43,998 (-21.6%), from €203,513 to €159,514
mainly Debts after one year (-€59,597) and Contributions, distributions and other (-€36,667)
- Receivables within one year -€15,654
down €15,654 (-19.6%), from €79,997 to €64,343
of which Trade receivables: -€20,721
- Stocks and contracts +€11,020
up €11,020 (+2.3%), from €478,583 to €489,603
- Debts after one year -€59,597
no longer reported in 2025 (was €59,597)
- Reserves +€40,690
up €40,690 (+9.6%), from €422,618 to €463,308
- Contributions -€20,000
down €20,000 (-100%), from €20,000 to €0
- Trade debts -€13,580
down €13,580 (-7.1%), from €191,828 to €178,247
- Taxes -€8,935
down €8,935 (-29.8%), from €29,992 to €21,057
- Gross operating margin -€6,735
down €6,735 (-3.9%), from €173,185 to €166,450
- Staff costs +€3,666
up €3,666 (+7.3%), from €50,237 to €53,903
- Financial charges +€3,163
up €3,163 (+56.0%), from €5,649 to €8,813
- Write-downs -€1,996
no longer reported in 2025 (was €1,996)
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 | €780,690 | €727,882 | -€52,808 | -6.8% |
| Fixed assets | 21/28 | €13,740 | €10,025 | -€3,715 | -27.0% |
| Tangible fixed assets | 22/27 | €13,298 | €9,583 | -€3,715 | -27.9% |
| Plant, machinery and equipment | 23 | €3,126 | €8,817 | +€5,691 | +182% |
| Furniture and vehicles | 24 | €10,172 | €766 | -€9,407 | -92.5% |
| Financial fixed assets | 28 | €442 | €442 | = | 0.0% |
| Current assets | 29/58 | €766,950 | €717,857 | -€49,092 | -6.4% |
| Stocks and contracts in progress | 3 | €478,583 | €489,603 | +€11,020 | +2.3% |
| Stocks | 30/36 | €478,583 | €489,603 | +€11,020 | +2.3% |
| Amounts receivable within one year | 40/41 | €79,997 | €64,343 | -€15,654 | -19.6% |
| Trade receivables | 40 | €77,408 | €56,687 | -€20,721 | -26.8% |
| Other amounts receivable | 41 | €2,589 | €7,656 | +€5,067 | +196% |
| Cash at bank and in hand | 54/58 | €203,513 | €159,514 | -€43,998 | -21.6% |
| Deferred charges and accrued income | 490/1 | €4,856 | €4,397 | -€460 | -9.5% |
| Total equity and liabilities | 10/49 | €780,690 | €727,882 | -€52,808 | -6.8% |
| Equity | 10/15 | €442,618 | €463,308 | +€20,690 | +4.7% |
| Contributions | 10/11 | €20,000 | €0 | -€20,000 | -100% |
| Reserves | 13 | €422,618 | €463,308 | +€40,690 | +9.6% |
| Distributable reserves | 133 | €422,618 | €463,308 | +€40,690 | +9.6% |
| Amounts payable | 17/49 | €338,071 | €264,574 | -€73,498 | -21.7% |
| Amounts payable after more than one year | 17 | €59,597 | - | -€59,597 | |
| Financial debts | 170/4 | €59,597 | - | -€59,597 | |
| Amounts payable within one year | 42/48 | €278,475 | €263,949 | -€14,526 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €75,585 | €70,644 | -€4,941 | -6.5% |
| Trade debts | 44 | €191,828 | €178,247 | -€13,580 | -7.1% |
| Suppliers | 440/4 | €191,828 | €178,247 | -€13,580 | -7.1% |
| Taxes, remuneration and social security | 45 | €7,894 | €10,082 | +€2,188 | +27.7% |
| Taxes | 450/3 | €3,992 | €6,057 | +€2,065 | +51.7% |
| Remuneration and social security | 454/9 | €3,902 | €4,026 | +€124 | +3.2% |
| Other amounts payable | 47/48 | €3,168 | €4,975 | +€1,807 | +57.0% |
| Accrued charges and deferred income | 492/3 | - | €625 | +€625 | |
| Remuneration, social security and pensions | 62 | €50,237 | €53,903 | +€3,666 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,341 | €12,811 | +€471 | +3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,996 | - | -€1,996 | |
| Other operating charges | 640/8 | €12,980 | €12,605 | -€375 | -2.9% |
| Gross operating margin | 9900 | €173,185 | €166,450 | -€6,735 | -3.9% |
| Operating profit (loss) | 9901 | €95,631 | €87,131 | -€8,500 | -8.9% |
| Financial income | 75/76B | €1 | €95 | +€94 | +11,649% |
| Recurring financial income | 75 | €1 | €95 | +€94 | +11,649% |
| Financial charges | 65/66B | €5,649 | €8,813 | +€3,163 | +56.0% |
| Recurring financial charges | 65 | €5,649 | €8,813 | +€3,163 | +56.0% |
| Profit (loss) for the period before taxes | 9903 | €89,983 | €78,413 | -€11,569 | -12.9% |
| Income taxes | 67/77 | €29,992 | €21,057 | -€8,935 | -29.8% |
| Profit (loss) for the period | 9904 | €59,991 | €57,357 | -€2,634 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €59,991 | €57,357 | -€2,634 | -4.4% |
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.