Philippe MORMAL: 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.
What changed
Philippe MORMAL
NACE 69.103, Activities of bailiffs
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€534,800
2024 · €489,042+€45,757
Equity
€1.7m
2024 · €2.0m-€352,343
Cash
€3.0m
2024 · €1.5m+€1.4m
Balance sheet total
€3.6m
2024 · €2.2m+€1.5m
Largest movements
Assets
- Cash +€1.4m
up €1.4m (+95.3%), from €1.5m to €3.0m
mainly Other debts (+€1.8m) and Net result for the year (+€534,800)
Equity and liabilities
- Other debts +€1.8m
up €1.8m (+41,032%), from €4,403 to €1.8m
- Profit (loss) carried forward -€352,343
down €352,343 (-38.7%), from €911,542 to €559,199
Income statement
- Taxes -€56,129
down €56,129 (-23.9%), from €234,603 to €178,474
- Gross operating margin -€14,443
down €14,443 (-1.5%), from €952,808 to €938,365
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.
Result 2024
€489,042
Gross operating margin
-€14,443
Staff costs
+€433
Depreciation
+€67
Other operating charges
-€753
Other operating items
-€1,842
Financial income
+€6,413
Financial charges
-€247
Taxes
+€56,129
Result 2025
€534,800
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.3m
Investment
-€8,472
Financing
-€887,143
Cash 2024
€1.5m
From operations (derived)
+€2.3m
Net result for the year
+€534,800
Depreciation
+€2,855
Smaller working-capital items
-€770
Trade debts
-€6,303
Tax, wage and social debts
+€7,481
Other debts
+€1.8m
Investment (derived)
-€8,472
Investment in fixed assets (net)
-€8,472
Financing
-€887,143
Contributions, distributions and other
-€887,143
Cash 2025
€3.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,182,618 | €3,638,808 | +€1.5m | +66.7% |
| Fixed assets | 21/28 | €14,999 | €20,616 | +€5,617 | +37.5% |
| Tangible fixed assets | 22/27 | €14,844 | €20,461 | +€5,617 | +37.8% |
| Furniture and vehicles | 24 | €6,450 | €13,357 | +€6,907 | +107% |
| Other tangible fixed assets | 26 | €8,394 | €7,104 | -€1,290 | -15.4% |
| Financial fixed assets | 28 | €155 | €155 | = | 0.0% |
| Current assets | 29/58 | €2,167,619 | €3,618,191 | +€1.5m | +66.9% |
| Amounts receivable within one year | 40/41 | €640,439 | €643,633 | +€3,194 | +0.5% |
| Trade receivables | 40 | €640,202 | €643,633 | +€3,431 | +0.5% |
| Other amounts receivable | 41 | €237 | - | -€237 | |
| Cash at bank and in hand | 54/58 | €1,520,497 | €2,969,777 | +€1.4m | +95.3% |
| Deferred charges and accrued income | 490/1 | €6,684 | €4,781 | -€1,902 | -28.5% |
| Total equity and liabilities | 10/49 | €2,182,618 | €3,638,808 | +€1.5m | +66.7% |
| Equity | 10/15 | €2,005,303 | €1,652,960 | -€352,343 | -17.6% |
| Contributions | 10/11 | €43,389 | €43,389 | = | 0.0% |
| Reserves | 13 | €1,050,371 | €1,050,371 | = | 0.0% |
| Distributable reserves | 133 | €1,050,371 | €1,050,371 | = | 0.0% |
| Profit (loss) carried forward | 14 | €911,542 | €559,199 | -€352,343 | -38.7% |
| Amounts payable | 17/49 | €177,315 | €1,985,848 | +€1.8m | +1,020% |
| Amounts payable within one year | 42/48 | €176,524 | €1,984,534 | +€1.8m | +1,024% |
| Trade debts | 44 | €7,069 | €765 | -€6,303 | -89.2% |
| Suppliers | 440/4 | €7,069 | €765 | -€6,303 | -89.2% |
| Taxes, remuneration and social security | 45 | €165,051 | €172,532 | +€7,481 | +4.5% |
| Taxes | 450/3 | €138,524 | €146,181 | +€7,657 | +5.5% |
| Remuneration and social security | 454/9 | €26,527 | €26,352 | -€176 | -0.7% |
| Other amounts payable | 47/48 | €4,403 | €1,811,237 | +€1.8m | +41,032% |
| Accrued charges and deferred income | 492/3 | €792 | €1,314 | +€522 | +65.9% |
| Remuneration, social security and pensions | 62 | €234,369 | €233,936 | -€433 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,922 | €2,855 | -€67 | -2.3% |
| Other operating charges | 640/8 | €10,631 | €11,384 | +€753 | +7.1% |
| Non-recurring operating charges | 66A | €834 | €2,677 | +€1,842 | +221% |
| Gross operating margin | 9900 | €952,808 | €938,365 | -€14,443 | -1.5% |
| Operating profit (loss) | 9901 | €704,051 | €687,513 | -€16,539 | -2.3% |
| Financial income | 75/76B | €22,029 | €28,442 | +€6,413 | +29.1% |
| Recurring financial income | 75 | €22,029 | €28,442 | +€6,413 | +29.1% |
| Financial charges | 65/66B | €2,435 | €2,681 | +€247 | +10.1% |
| Recurring financial charges | 65 | €2,435 | €2,681 | +€247 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | €723,645 | €713,273 | -€10,372 | -1.4% |
| Income taxes | 67/77 | €234,603 | €178,474 | -€56,129 | -23.9% |
| Profit (loss) for the period | 9904 | €489,042 | €534,800 | +€45,757 | +9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €489,042 | €534,800 | +€45,757 | +9.4% |
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 25 October 2026 via checked.be.