Philippe Mackels: 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 Mackels
Largest movements
- Cash -€42,507
down €42,507 (-96.3%), from €44,148 to €1,641
mainly Other debts (-€25,863) and Net result for the year (-€15,530)
- Tangible fixed assets -€12,598
down €12,598 (-40.0%), from €31,506 to €18,908
of which Furniture and vehicles: -€10,656
- Receivables within one year +€4,717
up €4,717 (+92.6%), from €5,096 to €9,813
of which Trade receivables: +€6,500
- Other debts -€25,863
down €25,863 (-87.3%), from €29,631 to €3,768
- Profit (loss) carried forward -€15,530
down €15,530, from €7,408 to -€8,122
- Debts after one year -€4,968
down €4,968 (-36.4%), from €13,637 to €8,670
- Tax, wage and social debts -€4,704
down €4,704 (-60.1%), from €7,831 to €3,127
- Gross operating margin -€33,369
down €33,369, from €33,308 to -€61
- Taxes -€5,259
down €5,259 (-95.7%), from €5,495 to €236
- Depreciation -€846
down €846 (-5.8%), from €14,654 to €13,808
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 | €82,475 | €31,578 | -€50,897 | -61.7% |
| Fixed assets | 21/28 | €31,506 | €18,908 | -€12,598 | -40.0% |
| Tangible fixed assets | 22/27 | €31,506 | €18,908 | -€12,598 | -40.0% |
| Plant, machinery and equipment | 23 | €2,974 | €676 | -€2,298 | -77.3% |
| Furniture and vehicles | 24 | €25,817 | €15,161 | -€10,656 | -41.3% |
| Other tangible fixed assets | 26 | €2,716 | €3,071 | +€355 | +13.1% |
| Current assets | 29/58 | €50,969 | €12,670 | -€38,299 | -75.1% |
| Amounts receivable within one year | 40/41 | €5,096 | €9,813 | +€4,717 | +92.6% |
| Trade receivables | 40 | - | €6,500 | +€6,500 | |
| Other amounts receivable | 41 | €5,096 | €3,313 | -€1,783 | -35.0% |
| Cash at bank and in hand | 54/58 | €44,148 | €1,641 | -€42,507 | -96.3% |
| Deferred charges and accrued income | 490/1 | €1,726 | €1,217 | -€509 | -29.5% |
| Total equity and liabilities | 10/49 | €82,475 | €31,578 | -€50,897 | -61.7% |
| Equity | 10/15 | €26,576 | €11,046 | -€15,530 | -58.4% |
| Contributions | 10/11 | €900 | €900 | = | 0.0% |
| Reserves | 13 | €18,269 | €18,269 | = | 0.0% |
| Non-distributable reserves | 130/1 | €132 | €132 | = | 0.0% |
| Reserves not available under the articles | 1311 | €132 | €132 | = | 0.0% |
| Distributable reserves | 133 | €18,137 | €18,137 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,408 | -€8,122 | -€15,530 | |
| Amounts payable | 17/49 | €55,899 | €20,532 | -€35,367 | -63.3% |
| Amounts payable after more than one year | 17 | €13,637 | €8,670 | -€4,968 | -36.4% |
| Financial debts | 170/4 | €13,637 | €8,670 | -€4,968 | -36.4% |
| Amounts payable within one year | 42/48 | €42,261 | €11,862 | -€30,399 | -71.9% |
| Current portion of amounts payable after more than one year | 42 | €4,800 | €4,968 | +€168 | +3.5% |
| Taxes, remuneration and social security | 45 | €7,831 | €3,127 | -€4,704 | -60.1% |
| Taxes | 450/3 | €7,831 | €3,127 | -€4,704 | -60.1% |
| Other amounts payable | 47/48 | €29,631 | €3,768 | -€25,863 | -87.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,654 | €13,808 | -€846 | -5.8% |
| Other operating charges | 640/8 | €703 | €838 | +€135 | +19.1% |
| Gross operating margin | 9900 | €33,308 | -€61 | -€33,369 | |
| Operating profit (loss) | 9901 | €17,951 | -€14,707 | -€32,658 | |
| Financial income | 75/76B | €36 | €19 | -€17 | -47.2% |
| Recurring financial income | 75 | €36 | €19 | -€17 | -47.2% |
| Financial charges | 65/66B | €394 | €605 | +€212 | +53.9% |
| Recurring financial charges | 65 | €394 | €605 | +€212 | +53.9% |
| Profit (loss) for the period before taxes | 9903 | €17,593 | -€15,294 | -€32,887 | |
| Income taxes | 67/77 | €5,495 | €236 | -€5,259 | -95.7% |
| Profit (loss) for the period | 9904 | €12,098 | -€15,530 | -€27,628 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,098 | -€15,530 | -€27,628 |
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 6 October 2026 via checked.be.