PHILIPPE MISSOUL: what changed
What changed
PHILIPPE MISSOUL
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€64,930
2024 · €81,753-€16,823
Equity
€266,125
2024 · €389,195-€123,070
Cash
€45,139
2024 · €43,405+€1,734
Balance sheet total
€636,297
2024 · €622,376+€13,921
Largest movements
Assets
- Tangible fixed assets +€42,809
up €42,809 (+9.6%), from €448,047 to €490,855
of which Land and buildings: +€60,877
- Current investments -€27,748
down €27,748 (-91.3%), from €30,404 to €2,656
Equity and liabilities
- Other debts +€172,190
new in 2025: €172,190
- Reserves -€123,100
down €123,100 (-33.0%), from €373,300 to €250,200
of which Distributable reserves: -€123,100
- Debts after one year -€32,560
down €32,560 (-18.1%), from €179,661 to €147,101
- Tax, wage and social debts -€10,135
down €10,135 (-56.0%), from €18,107 to €7,972
- Current portion of long-term debt +€9,539
up €9,539 (+30.1%), from €31,686 to €41,225
Income statement
- Gross operating margin -€18,075
down €18,075 (-12.3%), from €146,429 to €128,354
- Depreciation +€13,850
up €13,850 (+56.2%), from €24,625 to €38,475
- Taxes -€7,691
down €7,691 (-22.8%), from €33,801 to €26,110
- Financial income +€5,217
up €5,217 (+335%), from €1,557 to €6,774
- Financial charges -€2,100
down €2,100 (-35.8%), from €5,863 to €3,763
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€81,753
Gross operating margin
-€18,075
Depreciation
-€13,850
Other operating charges
+€94
Financial income
+€5,217
Financial charges
+€2,100
Taxes
+€7,691
Result 2025
€64,930
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€266,871
Investment
-€53,535
Financing
-€211,602
Cash 2024
€43,405
From operations (derived)
+€266,871
Net result for the year
+€64,930
Depreciation
+€38,475
Receivables within one year
+€4,785
Deferred charges and accrued income
-€1,912
Trade debts
-€1,463
Tax, wage and social debts
-€10,135
Other debts
+€172,190
Investment (derived)
-€53,535
Investment in fixed assets (net)
-€81,284
Current investments
+€27,748
Financing
-€211,602
Debts after one year
-€32,560
Current portion of long-term debt
+€9,539
Short-term financial debts
-€581
Contributions, distributions and other
-€188,000
Cash 2025
€45,139
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €622,376 | €636,297 | +€13,921 | +2.2% |
| Fixed assets | 21/28 | €448,047 | €490,855 | +€42,809 | +9.6% |
| Tangible fixed assets | 22/27 | €448,047 | €490,855 | +€42,809 | +9.6% |
| Land and buildings | 22 | €373,818 | €434,694 | +€60,877 | +16.3% |
| Plant, machinery and equipment | 23 | €5,888 | €6,929 | +€1,042 | +17.7% |
| Furniture and vehicles | 24 | €68,341 | €49,232 | -€19,109 | -28.0% |
| Current assets | 29/58 | €174,329 | €145,442 | -€28,888 | -16.6% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Other amounts receivable | 291 | €75,000 | €75,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €24,804 | €20,019 | -€4,785 | -19.3% |
| Trade receivables | 40 | €700 | - | -€700 | |
| Other amounts receivable | 41 | €24,105 | €20,019 | -€4,086 | -16.9% |
| Current investments | 50/53 | €30,404 | €2,656 | -€27,748 | -91.3% |
| Cash at bank and in hand | 54/58 | €43,405 | €45,139 | +€1,734 | +4.0% |
| Deferred charges and accrued income | 490/1 | €716 | €2,628 | +€1,912 | +267% |
| Total equity and liabilities | 10/49 | €622,376 | €636,297 | +€13,921 | +2.2% |
| Equity | 10/15 | €389,195 | €266,125 | -€123,070 | -31.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €373,300 | €250,200 | -€123,100 | -33.0% |
| 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 | €371,440 | €248,340 | -€123,100 | -33.1% |
| Profit (loss) carried forward | 14 | €3,495 | €3,525 | +€30 | +0.9% |
| Amounts payable | 17/49 | €233,181 | €370,172 | +€136,991 | +58.7% |
| Amounts payable after more than one year | 17 | €179,661 | €147,101 | -€32,560 | -18.1% |
| Financial debts | 170/4 | €179,661 | €147,101 | -€32,560 | -18.1% |
| Amounts payable within one year | 42/48 | €53,520 | €223,071 | +€169,551 | +317% |
| Current portion of amounts payable after more than one year | 42 | €31,686 | €41,225 | +€9,539 | +30.1% |
| Financial debts | 43 | €1,199 | €617 | -€581 | -48.5% |
| Credit institutions | 430/8 | €1,199 | €617 | -€581 | -48.5% |
| Trade debts | 44 | €2,529 | €1,066 | -€1,463 | -57.8% |
| Suppliers | 440/4 | €2,529 | €1,066 | -€1,463 | -57.8% |
| Taxes, remuneration and social security | 45 | €18,107 | €7,972 | -€10,135 | -56.0% |
| Taxes | 450/3 | €18,107 | €7,972 | -€10,135 | -56.0% |
| Other amounts payable | 47/48 | - | €172,190 | +€172,190 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,625 | €38,475 | +€13,850 | +56.2% |
| Other operating charges | 640/8 | €1,945 | €1,850 | -€94 | -4.8% |
| Gross operating margin | 9900 | €146,429 | €128,354 | -€18,075 | -12.3% |
| Operating profit (loss) | 9901 | €119,860 | €88,029 | -€31,831 | -26.6% |
| Financial income | 75/76B | €1,557 | €6,774 | +€5,217 | +335% |
| Recurring financial income | 75 | €1,557 | €6,774 | +€5,217 | +335% |
| Financial charges | 65/66B | €5,863 | €3,763 | -€2,100 | -35.8% |
| Recurring financial charges | 65 | €5,863 | €3,763 | -€2,100 | -35.8% |
| Profit (loss) for the period before taxes | 9903 | €115,554 | €91,040 | -€24,514 | -21.2% |
| Income taxes | 67/77 | €33,801 | €26,110 | -€7,691 | -22.8% |
| Profit (loss) for the period | 9904 | €81,753 | €64,930 | -€16,823 | -20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €81,753 | €64,930 | -€16,823 | -20.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.