PHILIPPE MARQUET: 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 MARQUET
Largest movements
- Cash +€96,987
up €96,987 (+133%), from €72,871 to €169,858
mainly Receivables within one year (+€76,550) and Depreciation (+€47,147)
- Receivables within one year -€76,550
down €76,550 (-42.9%), from €178,482 to €101,932
of which Trade receivables: -€80,719
- Tangible fixed assets -€41,489
down €41,489 (-20.8%), from €199,579 to €158,090
of which Furniture and vehicles: -€20,950
- Debts after one year -€34,429
down €34,429 (-30.9%), from €111,545 to €77,117
- Other debts +€30,000
up €30,000 (+112%), from €26,865 to €56,864
- Trade debts -€12,932
down €12,932 (-36.1%), from €35,799 to €22,867
- Turnover +€59,133
up €59,133 (+8.6%), from €684,164 to €743,297
- Purchases and services +€58,880
up €58,880 (+14.5%), from €404,940 to €463,821
- Staff costs -€34,698
down €34,698 (-15.9%), from €218,245 to €183,547
- Gross operating margin -€34,411
down €34,411 (-10.5%), from €328,618 to €294,207
- Depreciation +€12,880
up €12,880 (+37.6%), from €34,267 to €47,147
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 | €501,856 | €480,208 | -€21,648 | -4.3% |
| Fixed assets | 21/28 | €199,579 | €158,225 | -€41,354 | -20.7% |
| Tangible fixed assets | 22/27 | €199,579 | €158,090 | -€41,489 | -20.8% |
| Land and buildings | 22 | €22,727 | €19,865 | -€2,862 | -12.6% |
| Plant, machinery and equipment | 23 | €21,770 | €18,413 | -€3,357 | -15.4% |
| Furniture and vehicles | 24 | €90,055 | €69,106 | -€20,950 | -23.3% |
| Leasing and similar rights | 25 | €65,027 | €50,707 | -€14,320 | -22.0% |
| Financial fixed assets | 28 | - | €135 | +€135 | |
| Current assets | 29/58 | €302,277 | €321,982 | +€19,705 | +6.5% |
| Stocks and contracts in progress | 3 | €15,968 | €15,624 | -€344 | -2.2% |
| Stocks | 30/36 | €15,968 | €15,624 | -€344 | -2.2% |
| Amounts receivable within one year | 40/41 | €178,482 | €101,932 | -€76,550 | -42.9% |
| Trade receivables | 40 | €173,982 | €93,263 | -€80,719 | -46.4% |
| Other amounts receivable | 41 | €4,500 | €8,670 | +€4,169 | +92.6% |
| Current investments | 50/53 | €30,000 | €30,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €72,871 | €169,858 | +€96,987 | +133% |
| Deferred charges and accrued income | 490/1 | €4,956 | €4,569 | -€387 | -7.8% |
| Total equity and liabilities | 10/49 | €501,856 | €480,208 | -€21,648 | -4.3% |
| Equity | 10/15 | €254,626 | €249,980 | -€4,646 | -1.8% |
| Contributions | 10/11 | €21,856 | €21,856 | = | 0.0% |
| Reserves | 13 | €229,285 | €224,639 | -€4,646 | -2.0% |
| Distributable reserves | 133 | €229,285 | €224,639 | -€4,646 | -2.0% |
| Profit (loss) carried forward | 14 | €3,486 | €3,486 | = | 0.0% |
| Amounts payable | 17/49 | €247,230 | €230,228 | -€17,002 | -6.9% |
| Amounts payable after more than one year | 17 | €111,545 | €77,117 | -€34,429 | -30.9% |
| Financial debts | 170/4 | €111,545 | €77,117 | -€34,429 | -30.9% |
| Amounts payable within one year | 42/48 | €131,353 | €152,553 | +€21,200 | +16.1% |
| Current portion of amounts payable after more than one year | 42 | €38,115 | €38,033 | -€82 | -0.2% |
| Trade debts | 44 | €35,799 | €22,867 | -€12,932 | -36.1% |
| Suppliers | 440/4 | €35,799 | €22,867 | -€12,932 | -36.1% |
| Taxes, remuneration and social security | 45 | €30,574 | €34,788 | +€4,214 | +13.8% |
| Taxes | 450/3 | €4,441 | €4,925 | +€484 | +10.9% |
| Remuneration and social security | 454/9 | €26,134 | €29,863 | +€3,729 | +14.3% |
| Other amounts payable | 47/48 | €26,865 | €56,864 | +€30,000 | +112% |
| Accrued charges and deferred income | 492/3 | €4,331 | €558 | -€3,774 | -87.1% |
| Turnover | 70 | €684,164 | €743,297 | +€59,133 | +8.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €404,940 | €463,821 | +€58,880 | +14.5% |
| Remuneration, social security and pensions | 62 | €218,245 | €183,547 | -€34,698 | -15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,267 | €47,147 | +€12,880 | +37.6% |
| Other operating charges | 640/8 | €4,505 | €1,992 | -€2,513 | -55.8% |
| Non-recurring operating charges | 66A | €9 | - | -€9 | |
| Gross operating margin | 9900 | €328,618 | €294,207 | -€34,411 | -10.5% |
| Operating profit (loss) | 9901 | €71,592 | €61,520 | -€10,071 | -14.1% |
| Financial income | 75/76B | €604 | €811 | +€207 | +34.3% |
| Recurring financial income | 75 | €604 | €811 | +€207 | +34.3% |
| Financial charges | 65/66B | €6,078 | €7,214 | +€1,136 | +18.7% |
| Recurring financial charges | 65 | €6,078 | €7,214 | +€1,136 | +18.7% |
| Profit (loss) for the period before taxes | 9903 | €66,118 | €55,118 | -€11,000 | -16.6% |
| Income taxes | 67/77 | €22,012 | €19,045 | -€2,967 | -13.5% |
| Profit (loss) for the period | 9904 | €44,106 | €36,073 | -€8,033 | -18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €44,106 | €36,073 | -€8,033 | -18.2% |
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 1 November 2026 via checked.be.